The economic downturn is also having an impact on entry-level salaries. Among those employers planning to hire recent college graduates, more than one-in-five (21 percent) said they will decrease starting salaries for recent college graduates in 2009 as compared to 2008. An additional 68 percent of employers plan to keep initial salary offers the same as last year and 11 percent will increase them.
Thirty-three percent of employers plan to offer recent college graduates starting salaries ranging between $30,000 and $40,000. An additional 17 percent will offer between $40,000 and $50,000 and 14 percent will offer more than $50,000. Thirty-six percent will offer less than $30,000.
"While recent college graduates are facing a highly competitive job market right now, there are still opportunities out there," said Brent Rasmussen, President of CareerBuilder North America. "The biggest challenge is showing relevant experience, which employers say is one of the most important factors they look for in applications from recent college graduates. This isn’t limited to professional work experience, so don’t get discouraged. Class work, school activities and volunteering also qualify as relevant experience and can be included in your resume as well."
Employers reported that the following activities qualify as pertinent work experience for recent college graduates to include on their resumes:
When asked to identify the biggest mistakes recent college graduates make during the application and interview process, employers reported the following:
This survey was conducted online within the U.S. by Harris Interactive on behalf of CareerBuilder.com among 2,543 hiring managers and human resource professionals (employed full-time; not self-employed; with at least significant involvement in hiring decisions; non government) ages 18 and over between February 20 and March 11, 2009 (percentages for some questions are based on a subset US Employers, based on their responses to certain questions). With a pure probability sample of 2,543, one could say with a 95 percent probability that the overall results have a sampling error of +/- 1.94 percentage points. Sampling error for data from sub-samples is higher and varies.
CareerBuilder is the global leader in human capital solutions, helping companies target and attract their most important asset – their people. Its online career site, CareerBuilder.com, is the largest in the U.S. with more than 23 million unique visitors, 1 million jobs and 31 million resumes. CareerBuilder works with the world’s top employers, providing resources for everything from employment branding and data analysis to talent acquisition. More than 9,000 Web sites, including 140 newspapers and broadband portals such as MSN and AOL, feature CareerBuilder’s proprietary job search technology on their career sites. Owned by Gannett Co., Inc. (NYSE:GCI), Tribune Company, The McClatchy Company (NYSE:MNI) and Microsoft Corp. (Nasdaq: MSFT), CareerBuilder and its subsidiaries operate in the U.S., Europe, Canada and Asia. For more information, visit www.careerbuilder.com
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