College graduates are expected to see a 15 percent in hiring next year, says a new survey by Michigan State University, with starting salaries in some professions also showing an increase.
Phil Gardner, an economist at Michigan State and the lead author of the study, says hiring is expected to increase across all degree levels — associate’s, bachelor’s, MBAs, master’s, doctorates, and professionals. He says hiring of students with associate’s and professional degrees is expected to see a 23 percent increase, while the hiring of those with bachelor’s degrees is expected to increase 15 percent. Hiring for master’s degrees will increase by 10 percent year over year.
He adds starting salaries are expected to increase 2 to 5 percent. Occupations such as engineering and IT are expected to see bigger boosts.
“Although more employers will increase starting salaries, overall salaries may lag slightly behind inflation,” Gardner says.
The Recruiting Trends report — a survey of more than 4,700 nationwide employers — found economic growth, retiring baby boomers, and employee turnover were driving job opportunities.
“Three years ago, employers rarely talked about turnover,” Gardner says. “This year, the percentage of employers reporting turnover as a major driving force rose to 56 percent, an 11 percent increase over last year.”
Gardner says more than 30 percent of employers said retirements are influencing their hiring decisions, up nearly 20 percent from last year.
“Baby boomer retirements will almost certainly become more critical in the near future, particularly for education, government, finance, and professional-service jobs,” Gardner says.
