Engineering Graduates Again in Great Shape
Posted on May 9, 2008 Comments (14)
Once again engineering and computer science graduates are receiving the highest starting salaries. Previous posts: Lucrative college degrees (2006) – starting salaries for engineers (2005) – High Pay for Engineering Graduates 2007.
According to a survey, these are the top-paying majors for 2007-08 bachelor degree graduates:
$63,616 — Chemical engineering (up 6.5%)
$59,962 — Computer engineering
$59,873 — Computer science (up 14.7%)
$58,252 — Industrial/manufacturing engineering
$57,821 — Mechanical engineering (up 5.7%)
$57,999 — Aerospace/aeronautical/astronautical engineering
“I’m finding jobs pulling at me left and right,” he said last week at a manufacturing industry job fair at the college. “The professors told us there’s such a demand, if you go to a job fair, you can walk out with a job.”
Vela, 35, happens to be in a field where demand remains strong, despite the uneven economy. Overall starting wages for mechanical engineering grads will be up 3.4 percent this year, with an average salary offer of $56,429, according to the National Association of Colleges and Employers. For many other college grads looking for a job at this time of year, the prospects are not as sweet.
It really does make sense to go into engineering, if you have the right A-levels because most engineering degrees lead to well-paid jobs. The aspiring chemical engineer can earn £25,136, and the civil engineer £22,392 in their first job. Engineering is better paid than computer science, widely regarded as a sensible option for those who are interested in technology.
This year, the average annual IT services pay packets have risen to Rs 2.74 lakh taking it closer to the average annual product company compensation (Rs 4.63 lakh) in the country, though some product companies pay almost 70 per cent higher salaries than services companies.
In a campus compensation and student perception survey brought out by CareerNet, a Bangalore-based recruitment company, it was found that while in financial year 2007, about 44 per cent of the students took home a sub-Rs 3 lakh per annum pay packet, this year only 12.6 per cent received salaries less than Rs 3 lakh.
And 17 per cent of the students managed to get more than Rs 5 lakh annual salary. Graduate hiring across all companies have increased by almost 50 per cent. Last year, about 15-20 per cent of the campus hires in the Big Five Indian IT services firms were science or computer science graduate, while this year, almost 30 per cent of those hired will be graduates.
Participants in Shelton State’s technical programs, however, are unlikely to experience that problem anytime soon. Job Placement Center representative Mike Fields said about 95 percent of the 200 or so students about to graduate with two-year technical or associates degrees already have jobs. ‘On the technical side, the job market is still very, very strong, Fields said. ‘It’s been that way for some time.’