Class of 2011: Your paychecks will be bigger

By Blake Ellis, staff reporter


NEW YORK (CNNMoney) -- College grads are getting offered bigger paychecks for the first time since 2008.

Students who will graduate this spring are receiving job offers with starting salaries averaging $50,034 per year, up 3.5% from last year, according to a survey from the National Association of Colleges and Employers.

Meanwhile, employers surveyed by NACE said they plan to boost hiring of college graduates by 13.5% from a year ago.

Business majors noticed the biggest bump, with the average salary offer rising nearly 2% to $48,089.

Within the business discipline, accounting majors received salary offers of $49,022, up 2.2%, while finance majors were offered an average $50,535, an increase of 1.9%.

Offers for business administration/management graduates slipped slightly to $44,171, down 2.3%.

Graduates majoring in engineering -- typically one of the highest-paying fields -- didn't see a big change overall, with the average starting salary down a mere 0.3% but still high at $59,435.

Certain engineering majors, however, saw significant jumps, with electrical engineering majors receiving an average salary offer of $61,690 -- up 4.4% from the previous year. Offers for mechanical engineers climbed 3.8% to $60,598.

But it didn't pay as much to graduate with a degree in civil engineering this year, with starting salaries in that field slipping 7.1% to $48.885.

While the association's survey didn't break out starting salaries for individual liberal arts majors, offers were up a whopping 9.5% to $35,633 for the group as a whole. That compares to a steep drop of 11% last year.

The quarterly survey tracks starting salary offers to new college graduates in 70 disciplines nationwide at the bachelor's degree level. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.43%4.46%
15 yr fixed3.89%3.89%
5/1 ARM4.22%4.14%
30 yr refi4.43%4.45%
15 yr refi3.87%3.88%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 24,864.46 -226.02 -0.90%
Nasdaq 7,713.39 -32.99 -0.43%
S&P 500 2,764.47 -15.19 -0.55%
Treasuries 2.91 -0.01 -0.44%
Data as of 10:29am ET
Company Price Change % Change
Advanced Micro Devic... 16.78 0.43 2.66%
AT&T Inc 32.52 -0.63 -1.90%
Bank of America Corp... 29.17 -0.11 -0.38%
Micron Technology In... 58.02 -0.20 -0.35%
Intel Corp 52.56 -2.55 -4.64%
Data as of 10:14am ET

Sections

Apple Music's launch of a music publishing department is not a shift into signing songwriters directly. Instead, it'll allow the streaming service to work more closely and effectively with music publishers that represent songwriters. More

But even as the use of mandatory arbitration agreements remain popular in America's workplaces, some employees are pushing back and some companies and firms are having second thoughts about using them. More

Vacations are good for both workers and employers, but some workers are scared to take time off. More