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

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 fixed4.01%4.04%
15 yr fixed3.11%3.18%
5/1 ARM2.82%2.88%
30 yr refi4.00%4.03%
15 yr refi3.11%3.16%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 15,112.19 -206.04 -1.35%
Nasdaq 3,443.20 -38.98 -1.12%
S&P 500 1,628.93 -22.88 -1.39%
Treasuries 2.31 0.13 5.91%
Data as of 4:44pm ET
Company Price Change % Change
Sprint Nextel Corp 7.01 -0.32 -4.37%
Pfizer Inc 29.10 -0.30 -1.02%
Bank of America Corp... 13.19 -0.08 -0.60%
Micron Technology In... 13.97 0.22 1.60%
General Electric Co 23.98 -0.35 -1.44%
Data as of 4:03pm ET

Sections

The U.K. government is preparing to sell its 39% stake in Lloyds Banking Group as it looks to return two of the country's biggest lenders to the private sector. More

Federal Reserve Chairman Ben Bernanke says the central bank should curtail its $85 billion a month in asset purchases later this year and end it in mid-2014 -- if the recovery stays on track. More

Thinking about starting a business? These 10 states saw more startup activity than anywhere else nationwide, according to the Kauffman Index of Entrepreneurial Activity. More

What you major in can mean the difference between making an annual salary or making Frappucinnos post-graduation, according to a recent report. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2013 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2013 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2013. All rights reserved. Most stock quote data provided by BATS.