Job outlook for new grads

Employers plan to hire more new college graduates than they did last year. Finance, accounting and computer and information science majors are in the most demand.

From college to the workforce

It’s not as grim as ’09 graduates think, claims the National Association of Colleges and Employers, which  “found that the average starting salary for this year’s graduates is $49,307, down less than 1% from 2008,” reports Forbes. Accounting grads get the most job offers, while petroleum engineering majors get the highest starting salaries.

According to the NACE survey, which sounds suspiciously upbeat, average salaries dropped slightly for liberal arts and computer science graduates, but rose slightly for business majors and rose 3.7% for engineering graduates.

Some of the lowest starting salaries were listed for those holding liberal arts majors; English majors fetch an average $34,704, and sociology $33,280. The highest wages by far are awarded to graduates with engineering degrees, with petroleum engineers leading the way at $83,121, followed by chemical engineers at $64,902.

I wonder if they’re not counting the percentage of ’09 grads with no job offers at all.

It’s a mancession, writes Carpe Diem. The male unemployment rate is significantly higher than the rate for women.

Unfit for a college education

Today’s students are uneducated and unfit for a college education, writes a Penn State accounting professor who’s taught for 35 years.  There’s no different in native intelligence, writes J. Edward Ketz.  The difference lies in their “educational backgrounds, analytical thinking, quantitative skills, reading abilities, willingness to work, and their attitudes concerning the educational process.”

To begin, today’s average accounting major cannot perform what used to be Algebra I and II in high school. Students cannot solve simultaneous equations. Students have difficulty with present value computations, not to mention formula derivations. Students even have difficulty employing the high-low method to derive a cost function, something that merely requires one to estimate a straight line from two points.

. . . Today’s students cannot read at what used to be a tenth-grade level. I learned this dramatically when I wrote a couple of textbooks in the 1990s. Editors at both publishing houses insisted that I rewrite my materials so today’s student could read it. I was forbidden to employ large or “fancy” words and had to simplify the grammar. For example, both editors told me never to compose a sentence with a subordinate clause because it was too complex for students to understand.

Today’s students cannot read critically. For example, I can assign an SEC litigation release for class, but students cannot read it for detail, nor can they discern the key points of the document.

Worst of all: Modern students aren’t willing to work.

But they’ve got great self-esteem.