A sign that the economy is on the rebound? Average salaries for new grads increased to $51,018.
Finally, some good news for 2011's crop of college grads. For those lucky enough to snag a job, employers are offering slightly higher salaries. According to the annual Salary Survey report from the National Association of Colleges and Employers, the average salary for 2011 grads is $51,018, up 4.8 percent from 2010's average of $48,661.
As expected, science and tech grads are still getting the best salary offers from employers. Computer science majors had an average offer of $63,328, up 4.3 percent. New engineering grads have an average starting salary of $60,465, a 2.5 percent increase from last year, but in-demand petroleum and computer engineering grads saw the highest salary increases. Petroleum engineering salaries are up 8.1 percent for an enviable average starting salary of $80,849. Likewise, computer engineering grads saw a 7.6 percent increase to $64.499.
But, interestingly, science and tech fields aren't the areas with the biggest salary increases. The average salary for humanities and social sciences graduates rose 15.3 percent to $40,057. And, proving that English majors can still pull down a decent paycheck, the average starting salary for English grads is $39, 611, a 6.6 increase. Sure, humanities majors are still earning far less than the engineers, but their critical thinking skills are clearly valued by employers.
Of course, for those members of the class of 2011 moving home with mom and dad and still hunting for a job, these salary increases are cold comfort. But, Marilyn Makes, NACE's executive director says the increases seen this year are a "good indication that the job market for new college graduates is gathering strength." For all the grads still hunting for full-time employment, let's hope that this positive trend continues.
photo via interviewmastermind.com