Benefits August 5, 2002

New Grads Get Fewer Offers, Lower Pay

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

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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.

Products August 4, 2002

New Alliance Offers Early Warning System

April 20, 2001 (PLANSPONSOR.com) - An initiative to enhance the information security of member companies, called the Internet Security Alliance was launched yesterday.
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The services that the group will provide to its members include:

  • up-to-the-minute threat reports,
  • best practice standards, and
  • risk management strategies.

The alliance is a team effort between McCurdy’s Association and the Software Engineering Institute at Carnegie Mellon University in Pittsburgh.

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The new venture will harness the expertise of the institute’s CERT Coordination Center, an emergency response team that identifies vulnerabilities in software and networks.

CERT reported that break-ins, viruses and other malicious computer activity is growing exponentially, from 900 incidents in 1999 to 21,000 in 2000 and expects the number to increase fourfold this year.

Sponsor companies will pay $70,000 per annum for unlimited access to the alliance’s resources, while other members would pay between $2,500 and $50,000 to receive CERT warnings of emerging cyber threats and more limited access to the databank.

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