New Grads Get Fewer Offers, Lower Pay

August 5, 2002 ( - Employers are apparently making fewer job offers to college grads - and for less money - than a year ago, according to a new study.

The study, by private recruiting software maker WetFeet, found both grads and undergrads are getting fewer job offers than their counterparts in the last three years and are anticipating skimpier paychecks when they take a position, Reuters said.  Still, with starting salaries still above $35,000 for undergraduates, getting a job seems the bigger challenge. 

In 2001-2002, undergraduates reported receiving an average of 0.8 offers, down from 1.2 offers in the 2000-2001 season, according to the survey.

MBAs received an average of 1.2 offers, down from 2.2 offers last year, said the software maker.

Salary expectations also fell as US companies cut jobs to get costs in line with falling revenues.

To that end, undergraduate respondents say they expect an average starting base salary of $35,620, down from $39,060 last year. MBAs, who can spend around $100,000 for their degrees, expected average starting salaries of $81,990, down from $88,590 last year.
WetFeet surveyed nearly 2,000 recent graduates from 21 of the top 25 MBA programs and more than 30 of the top 50 undergraduate institutions during April.