Executive Summary 2011-2012
Executive Summary
The college labor market continues to expand opportunities but at a more moderate rate than last year. Total hiring across all degrees will expand by 4 percent this year. The expansion is coming from a strong push at the Bachelor’s degree level, which will increase by approximately 7 percent, according to the 4,200 employers seeking full-time talent. Last year’s market was influenced by a group of employers who sprinted ahead of more cautious organizations. This year’s market appears to be broader and a little deeper and shows a more consistent pattern of growth across industry sectors as well as by company size.
Uncertainty has lessened somewhat among these employers and is reflected in a higher intention to hire college students,
approaching the optimism of the 2007-2008 college labor market. More confidence is leading more employers to increase their hiring targets. Still one-third have decided to cut their hiring goals for this year.
Nearly 40 percent of employers will be hiring candidates from all majors, seeking the best talent regardless of field of study. Computer science majors are still in strong demand in nearly every sector, and the supply of graduates will not be sufficient to fill all available positions. Accounting, most engineering disciplines, finance, and supply chain are expected to do well this year. Some of the strongest growth will be among marketing, advertising, and public relations; sales positions are increasing as well as related services to extend employer brands. Nursing, clinical laboratory scientists, human resources, chemistry, statistics, and mathematics are just some of the majors that will see more opportunities this year.
Even with this improved job outlook, the competition will be fierce. Employer demand falls short of the supply of graduating students.
Professional and scientific services, manufacturing, finance and insurance, retail, and information services are all improving their hiring situation this year. No sector appears stronger than agriculture/food processing with an increase in hires of approximately 14 percent. While nonprofits expect to hire slightly more talent this year, concern over the lagging economy may stifle hiring later in the academic year. It is too early to tell how education will do, but school administrators are hoping to maintain current hiring levels. Major weakness has been reported in the government sector, especially among state and local government agencies. Their losses have been partially masked by hiring at the Federal level, but they are still having jitters about future budget reductions.
Starting salary levels are not predicted to change because 70 percent of employers have no intention of raising salaries.
However, bonuses and commission-based salaries are creeping back.
The best job seeking strategies still depend on connections between faculty, students, career services professionals, alumni, parents, and hiring staff in organizations.
This year’s college labor market is moving very fast. Most companies will complete hiring by the end of fall term. Students who have started their job search early are flexible, and can best express their skills and abilities by demonstrating how they add value to the organization. Students with these qualities will be in the best position to seize opportunities in this job market. The best advice to students remains:
Be Focused, Be Directed & Be Connected