Recent Survey Results
Starting Salaries for Co-op Students and Recent College Graduates Survey
Provides a comprehensive look at the current state of wages and benefits provided to co-op students and recent college graduates. Also presents employers a snapshot of the recruitment and retention trends associated with these new entrants to the workforce.
- Nearly three out of four (73%) respondents say their company has hired, or plans to hire, a recent college graduate in 2018, similar to what was reported in 2017.
- While the percentage of companies hiring a recent college graduate is similar to last year, less organizations are increasing their efforts to do so.
- 23% of the companies have increased their hiring efforts this year compared to last year, a decrease of 9% from 2017.
- Even though fewer companies are increasing their hiring efforts, the number of companies who decreased their efforts remains at 3%, and we instead saw an 8% increase in those whose efforts remained the same.
- Statistically, the top five in-state institutions the responding companies actively recruit from are: 1) Michigan State University; 2) University of Michigan; 3) Wayne State University; 4) Oakland University; 5) Michigan Technological University.
- Based on hiring activity, the top three most popular technical Bachelor-degree disciplines hired in the past year were: 1) Mechanical Engineering; 2) Electrical Engineering; 3) Computer Science
- The overall hiring of graduates with a Computer Science degree increased by 12% from last year.
- Based on hiring activity, the top three most popular non-technical Bachelor-degree disciplines hired in the past year were: 1) Business Administration; 2) Accounting; 3) tied between Finance and HR/Labor Relations
- The top three knowledge/skill factors organizations consider when making hiring decisions, in order, are: 1) related coursework; 2) computer skills; 3) degree level.
- The top three perceived shortcomings of recent college graduates are: 1) adaptation to work environment (57%); 2) career expectations (56%); 3) compensation expectations (49%).
- Of the seven disciplines named above (Business Administration, Accounting, Finance, HR/Labor Relations, Mechanical Engineering, Electrical Engineering, and Computer Science) the highest starting salaries went to the engineering disciplines. The average starting salary for Mechanical Engineering was $65,160; and for Electrical Engineering the average was $58,865. Finance came in at $52,686; Computer Science came in at $52,513; Accounting came in at $51,733; Business Administration came in at $50,965; and HR/Labor Relations came in at $49,809.
- Pay rates for high school and college co-ops and interns were separated by technical and non-technical roles; the average hourly rate for a college senior in a technical field is $17.66 and $15.47 for a non-technical field; the average hourly rate for a college junior in a technical field is $16.46 and $14.70 for a non-technical field.
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