Benefits February 8, 2006

College Grads Can Expect Improved Starting Pay

February 8, 2006 (PLANSPONSOR.com) - The National Association of Colleges and Employers (NACE) Job Outlook 2006 report reveals that new college graduates can expect higher starting salary offers.
Reported by

SmartPros reports that 75% of employers responding to NACE for the report said they plan to raise initial salary offers. The projected average raise in initial offers was 3.7%.

In December, NACE said that the college Class of 2006 will enjoy the best job market in four years, with employers expecting to hire 14.5% more new college graduates in 2005-2006 than they hired in 2004-05, according to SmartPros. Marilyn Mackes, NACE executive director, said the plans to increase starting salaries “reaffirms the positive job outlook for this year’s class of college graduates.”

NACE did find, however, that most employers do not expect to offer hiring bonuses to this year’s graduates. Only 44% of responding employers said they plan to do so.

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