Don’t shed any tears for the 1999 crop of college and MBA graduates.
Even though recruiting probably won’t match the frenzied pitch of last spring, the job market for new grads appears strong despite a slowing economy.
“This year, students may be coming up with three offers instead of four or five, but I still think it’s going to be a very strong market,” said Steve Pollock, co-founder of Wet Feet Press, a San Francisco publisher of guides for collegiate job seekers.
The annual fall recruiting survey by the National Association of Colleges and Employers shows a 10 percent increase in hiring projections overall. That’s only half the 19 percent increase in demand between spring ’97 and ’98, but healthy nonetheless. Hiring projections for West Coast electronics manufacturers are way down, and most regions are reporting smaller increases in demand than last year. Still, starting salaries are expected to increase by a respectable 4.8 percent average.
“Last year was so phenomenal. You’re just not going to keep seeing that,” said Camille Luckenbaugh, employment information manager for the association.
Undergraduate and graduate computer-related majors remain in hot demand. Some college career offices also report more interest in undergraduate finance, business and accounting majors. Among top MBA grads, continued growth in consulting will help offset an expected decline from investment banking, said Karen Dowd, recruiting specialist with human resource consultant Brecker & Merryman in New York.
One big change: Recruiters are appearing on campus earlier, extending offers sooner in the senior year and pressing students to accept early in some cases by offering larger signing bonuses to those who make up their minds in the fall.
