The job outlook for the class of 2005

What We’ll Cover  Job Market for New College Graduates  Who’s in Demand?  Preferred Methods of Hiring The job market for new college graduates Hiring Projections by Sector Overall, employers plan to increase hiring of new college graduates by 14.5 percent this year By Sector:  Manufacturers plan to increase by 8.2% Service employers plan to increase by 21.6% Govt/Nonprofit plan to increase 3.2% Hiring Expectations From 2004-05 to 2005-06 • Services • • • • More Fewer Same 71.3% 14.7% 14% Manufacturing 63.7% 22% 14.3% Gov./Non-Profit 43.8% 25% 31.2% _ Total/Overall 66.5% 18.2% 15.3% Projected Increases in Hiring Projections By Region • • • • Northeast-25.8% increase South-17.6% increase Midwest-0.8% increase West-15.8% increase Hiring Expectations by Regions Region More Fewer Same ◊Northeast ◊South ◊Midwest ◊West 66.7% 77.5% 60.3% 54.8% 17.6% 15.0% 15.9% 28.6% 15.7% 7.5% 23.8% 16.7% Hiring Expectations by Employer Type Employer Type ●Building Materials 2004-05Actual Hires 451 ●Transportation 265 ●Chemical/Applied Products 113 ●Petroleum/Applied Products 219 ●Computer Software Dev 1263 ●Financial Services 812 ●Merchandising Retail/Whsa 1005 ●Engineering/Surveying 228 ●Accounting-Public 137 ●Food/Beverage Processing 482 ●Research Organizations 213 ●Communication Services 439 ●Mechanical Equipment 99 2005-06 Projected Hires 864 441 184 225 1880 1140 1264 225 170 586 187 364 63 % Change 91.7% 66.2% 62.4% 53.2% 48.9% 40.3% 25.8% 24.8% 24.5% 21.6% -12.2% -17.1% -36.4% Projected Campus Visits by Sector Industry ►Service Avg 04-05 Actual Visits 05-06 Projected Visits 2326 2479 18 (campus visits per yr.) 19 % Change 6.6% ►Manufacturing Avg 1731 18 1850 20 6.9% ►Govt./Non-Profit Avg 370 358 -3.2% ▲TOTAL Avg 4427 22 21 4687 18 5.9% 19 Employers Expectations for Fall Hires -2004 vs 2005 and Salary Expectations ►More Hires 35.8% ►Same # of Hires 33.5% ►Unsure 27.4% ►Fewer Hires 3.3% _ ▲Same Salaries 49.8% ▲Higher Salaries 46.9% ▲Lower Salaries 0.0% ▲Other 3.3% The job market for new college graduates Employer intentions for on-campus recruiting during Spring 2005 Firm Plans 46.9% Tentative plans 27.5% No plans 14.2% Unsure 9.3% Other 2.2% 0% 10% 20% 30% 40% 50% The job market for new college graduates Hiring Projections by Region-Projected College Hires +13.3% +15.1% +13.9% +8.9% Northeast Midwest Southern Western The job market for new college graduates Northeast: Spring recruiting plans: 76% plan to recruit on campus Targeting business administration, electrical engineering, mechanical engineering, accounting, and computer science majors Midwest: Spring recruiting plans: 70% plan to recruit on campus Targeting accounting, economics/finance, business administration, mechanical engineering, and computer science majors South: Spring recruiting plans: More than 73% plan to recruit on campus Targeting business administration, accounting, mechanical engineering, economics/finance, and electrical engineering majors West: Spring recruiting plans: More than 80% plan to recruit on campus Targeting electrical engineering, computer science, business administration, computer engineering, and mechanical engineering majors Who’s In Demand? Top Degrees In Demand Doctoral Level Bachelor’s Level •Accounting •Business Administration •Electrical Engineering •Economics/Finance •Mechanical Engineering •Computer Science •Information Sciences •Marketing Management •Management Info Systems •Computer engineering Master’s Level •Electrical Engineering •Computer Engineering •Chemistry •Chemical Engineering •Physics •Mechanical Engineering •M.B.A.s •Electrical Engineering •Mechanical Engineering •Computer Science •Computer Engineering Who’s In Demand? Who’s Hiring? (Bachelor’s level) Major most interested employers % of respondents Accounting……………………… accounting services……………………………………… 100 utilities……………………………… …………………… 80 financial services……….…………………… …………… 67 Business admin………………… merchandisers……………………………………….……… 79 food/beverage process mfg…………… ………….…… 70 financial services…………………………… ….…….…… 58 Electrical Engineering…………….Electrical./electronic machinery &equip mfg………… … 90 Utilities…………………………………………….… … 80 Government (federal)………………… ……………… …70 Mechanical Engineering………….Utilities……………………………………………….…… 90 engineering/surveying………………………………….… 64 *electrical/electronic machinery& equip mfg……….…… 62 * Government (federal)……………………………….…… 62 Economic/Finance……………… Financial services……………………………….…….…… 75 Utilities…………………………………………….…… 70 Merchandisers……………………………………………… 63 Who’s In Demand? Associate Degree Candidates Overall Projections: 27.8% of employers plan to hire associate degree candidates this year (down from 33.3% last year) By Sector: *Government/Nonprofit Employers: 40.7% plan to hire associate degree candidates *Service employers: 27.6% plan to hire associate degree candidates *Manufacturing Employers: 26.8% plan to hire associate degree candidates Best Bets: Insurance companies Utilities companies Electrical & Electronic Machinery Manufacturers Salary Projections: Engineering Technology(includes civil, computer, electrical, mechanical engineering technology) Average salary expected: $39,417 % Increase over last year: 2.2% Business (Includes accounting, general business, marketing , and telecommunications) Average salary expected: $29,500 %increase over last year: 0.6% Who’s In Demand? International Students Overall Projections: 23.7% of employers plan to hire international students for full-time permanent positions in the U.S this year (down from 34.1% last year) By Sector: *Government/Nonprofit Employers: 7.4% plan to hire international candidates *Service employers: 28.9% plan to hire international candidates *Manufacturing Employers: 19.8% plan to hire international candidates Best Bets: Engineering/Surveying Firms Electrical & Electronic Machinery Manufacturers Computer Software Development & Data Processing Services Firms Who’s In Demand? Employers rate the importance of candidate skills Top Qualities & Skills Employers Look for in New Graduates Communication Skills………………………………… 4.7 Honesty/Integrity …………………………………… 4.7 Teamwork skills ……………………………………… 4.6 Interpersonal skills …………………………………… 4.5 Motivation/Initiative ………………………………… 4.5 Strong Work ethic …………………………………… 4.5 Analytical skills ……………………………………… 4.4 Flexibility/Adaptability ……………………………… 4.3 Computer skills ……………………………………… 4.1 Organizational skills ………………………………… 4.1 Detail oriented ……………………………………… 4.0 Leadership skills ……………………………………… 4.0 Self-confidence ……………………………………… 4.0 Friendly/Outgoing …………………………………… 3.9 Tactfulness …………………………………………… 3.8 Well mannered/Polite ……………………………… 3.8 GPA (3.0 or better) ………………………………… 3.7 Creativity …………………………………………… 3.6 Entrepreneurial/Risk taker ………………………… 3.3 Sense of humor ……………………………………… 3.3 Who’s In Demand? Top Skills Lacking In New Graduates •Communication Skills •Maturity/business etiquette •Work Ethic Who’s In Demand? Employers Give Advice to Students •Research, research, research •Be open-minded •Gain relevant work experience Preferred hiring methods Employers: Most Effective Recruiting Methods •Organization’s internship program •Organization’s co-op program •On-campus recruiting •Employee referrals •Career/job fairs Preferred hiring methods Benefits of Experiential Education Conversion Rates Interns: 31.9% Co-ops: 33.6% Percent of Respondents With Intern Programs: 79.8% Co-op Programs: 39.6% Percent of Hires With Internship Experience: 54.2% Co-op Experience: 25.2% Maintaining a program For Employers: Strategies for gaining upper management support for your program •Outline past successes •Offer hard data •Outline the consequences of eliminating your college program •Focus on the future Maintaining a program Benefits this as a benefit Benefits of Hiring New Graduates % of Respondents that identified Opportunity to mold future leaders of the organization 88 % New grads have cutting edge skills 51.9% Easier to identify a diverse applicant pool 35.4% Easier to fill positions because students are centrally located 21.2% New college grads will accept lower salaries than experienced college grads 21.2% Maintaining a program Employers: Effectiveness of activities to maintain your image on campus Participate in campus career days/fairs, open houses, site tours ………………… Provide info about your organization through company web site……………… Offer info sessions………………………………………………………………… Visit with faculty for informal exchange of information………………………… Participate in programs for student clubs, fraternities, sororities ………………… Offer experiential education programs…………………………………………… Participate in conferences for career services officers and faculty ……………… Sponsor hospitality-oriented events for students, organizations, faculty and career center staff…………………………………………………… Offer a speakers’ bureau, lecture series, and/or seminars, to student and/or faculty group……………………………………………………………… Offer resume critiques…………………………………………………………… Participate in mock interviews…………………………………………………… Provide scholarships and/or grants……………………………………………… 3.9 3.9 3.6 3.4 3.4 3.3 3.2 3.2 3.2 3.0 3.0 3.0 Maintaining a program How Career Services can help employers •Ask what you can to help •Provide info about opportunities available through your office as well as other campus departments and organizations •Help employers get out the message out to all campus offices and students •Let employers know where they will get the most “bang for the buck” on your campus [...].. .The job market for new college graduates Hiring Projections by Region-Projected College Hires +13.3% +15.1% +13.9% +8.9% Northeast Midwest Southern Western The job market for new college graduates Northeast: Spring recruiting plans: 76% plan to recruit on campus Targeting business administration, electrical... •Career /job fairs Preferred hiring methods Benefits of Experiential Education Conversion Rates Interns: 31.9% Co-ops: 33.6% Percent of Respondents With Intern Programs: 79.8% Co-op Programs: 39.6% Percent of Hires With Internship Experience: 54.2% Co-op Experience: 25.2% Maintaining a program For Employers: Strategies for gaining upper management support for your program •Outline past successes •Offer... Effectiveness of activities to maintain your image on campus Participate in campus career days/fairs, open houses, site tours ………………… Provide info about your organization through company web site……………… Offer info sessions………………………………………………………………… Visit with faculty for informal exchange of information………………………… Participate in programs for student clubs, fraternities, sororities ………………… Offer experiential... can help employers •Ask what you can do to help •Provide info about opportunities available through your office as well as other campus departments and organizations •Help employers get out the message out to all campus offices and students •Let employers know where they will get the most “bang for the buck” on your campus ... upper management support for your program •Outline past successes •Offer hard data •Outline the consequences of eliminating your college program •Focus on the future Maintaining a program Benefits this as a benefit Benefits of Hiring New Graduates % of Respondents that identified Opportunity to mold future leaders of the organization 88 % New grads have cutting edge skills 51.9% Easier to identify a diverse... education programs…………………………………………… Participate in conferences for career services officers and faculty ……………… Sponsor hospitality-oriented events for students, organizations, faculty and career center staff…………………………………………………… Offer a speakers’ bureau, lecture series, and/or seminars, to student and/or faculty group……………………………………………………………… Offer resume critiques…………………………………………………………… Participate in... international candidates Best Bets: Engineering/Surveying Firms Electrical & Electronic Machinery Manufacturers Computer Software Development & Data Processing Services Firms Who’s In Demand? Employers rate the importance of candidate skills Top Qualities & Skills Employers Look for in New Graduates Communication Skills………………………………… 4.7 Honesty/Integrity …………………………………… 4.7 Teamwork skills ………………………………………... salary expected: $29,500 %increase over last year: 0.6% Who’s In Demand? International Students Overall Projections: 23.7% of employers plan to hire international students for full-time permanent positions in the U.S this year (down from 34.1% last year) By Sector: *Government/Nonprofit Employers: 7.4% plan to hire international candidates *Service employers: 28.9% plan to hire international candidates... Utilities…………………………………………….…… 70 Merchandisers……………………………………………… 63 Who’s In Demand? Associate Degree Candidates Overall Projections: 27.8% of employers plan to hire associate degree candidates this year (down from 33.3% last year) By Sector: *Government/Nonprofit Employers: 40.7% plan to hire associate degree candidates *Service employers: 27.6% plan to hire associate degree candidates *Manufacturing... •Information Sciences •Marketing Management •Management Info Systems •Computer engineering Master’s Level •Electrical Engineering •Computer Engineering •Chemistry •Chemical Engineering •Physics •Mechanical Engineering •M.B.A.s •Electrical Engineering •Mechanical Engineering •Computer Science •Computer Engineering Who’s In Demand? Who’s Hiring? (Bachelor’s level) Major most interested employers % of