Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

New college grads to make less $$$

By Hibah Yousuf, staff reporter


NEW YORK (CNNMoney.com) -- College students gearing up to graduate this spring are likely to make less on their first job than those who got their degree last year, according to a report released Thursday.

The National Association of Colleges and Employers said that average salary offers to 2010 bachelor's degree candidates are down 1.7% to $47,673, compared to $48,515 last year.

College cost finder
Enter school name
(or part of name)
OR
Choose a state

Students seeking liberal arts degrees may face the hardest blow. Their average initial pay offers are down 8.9% to $33,540, based on data collected from college career services offices.

Starting salary amounts extended to graduates with positions in business management are down 8% to $42,094, and students with jobs in the marketing field have dipped 2.1% to $42,710.

Last year's graduates had a tougher time landing jobs, but starting salaries only slipped 1.2% compared with 2008 graduates, said NACE employment information manager Andrea Koncz.

"This year, graduates are starting to get the jobs but at slightly lower offers," Koncz said. NACE's summer and fall surveys may provide a clearer picture since more students will have secured jobs by then. (Check tuitions for any 4-year college)

Not all grads will be making less.

"Students graduating with more technical degrees are in higher demand," Koncz said.

The average pay for students earning computer-related degrees has climbed 5.8% to $58,746.

Introductory salaries are up 1.6% for finance majors and 0.4% for accounting students.

For engineering students, initial pay offers are 1.2% higher at $59,149. Electrical engineering majors' salaries have jumped the most, by 3% to $59,326. Pay offers for chemical engineers and civil engineers are up more than 1%, but computer engineers and mechanical engineers will only see 0.2% increases.  To top of page

Index Last Change % Change
Dow 16,643.01 -11.76 -0.07%
Nasdaq 4,828.33 15.62 0.32%
S&P 500 1,988.87 1.21 0.06%
Treasuries 2.19 0.02 0.83%
Data as of 10:37am ET
Company Price Change % Change
Freeport-McMoRan Inc... 10.50 0.31 3.04%
Bank of America Corp... 16.36 -0.08 -0.49%
Apple Inc 113.29 0.37 0.33%
Intel Corp 28.42 0.70 2.53%
Alcoa Inc 9.41 0.55 6.21%
Data as of Aug 28
Sponsors

Sections

Efforts to unionize low-wage employees of fast-food franchisees and outside contractors get lift from decision of NLRB. More

The U.S. economy has performed well this year. But there's lots of global gloom. Which will influence the Fed the most? More

The market volatility in China and the U.S. could hit private companies, especially late-stage unicorns. More

How do you run a successful crowdfunding campaign? Indiegogo's CEO Slava Rubin offers his top tips and mistakes to avoid. More

Looking for something good on Netflix? These entertaining films will help you learn more about finance and investing. More