73% of Michigan employers surveyed have hired, or plan to hire, a recent college graduate in 2022
Troy, MI. --- February 22, 2022 --- ASE, Michigan’s largest employer association, released the 2022 Starting Salaries for Co-op Students and Recent College Graduates Survey today. The annual survey provides a comprehensive look at the current state of wages and benefits provided to co-op students and recent college graduates. The survey also presents employers a snapshot of the recruitment and retention trends associated with these new entrants to the workforce.
Mary E. Corrado, ASE President and CEO, stated, “Our data suggest that the hiring of new college graduates appears to have rebounded from the previous year. In this market, employers looking to set themselves apart should look closely at these surveys and others to develop competitive rewards programs that attract new talent.
105 companies responded to the 2022 Starting Salaries for Co-op Students and Recent College Graduates Survey. The majority (80%) of the respondents have under 500 employees. Just over 80% of respondents are located in the metro Detroit region with 45.7% of those classified as automotive suppliers.
2022 Starting Salaries for Co-op Students and Recent College Graduates Survey Highlights:
- Nearly half of those surveyed (46%) have increased rates for Co-op/Intern students within the last year. This is up dramatically from 2021, where just 25% had increased wages for this segment of their workforce.
- Slightly more than seven of ten respondents (73%) say their company has hired, or plans to hire, a recent college graduate in 2022, ten percentage points higher than what was reported in 2021.
- The top five in-state institutions the responding companies actively recruit from are: 1) Michigan State University; 2) Wayne State University; 3) Oakland University 4) University of Michigan; 5) Kettering University and Michigan Technological University.
- The top three knowledge/skill factors organizations consider when making hiring decisions, in order, are: related coursework (i.e., to the work required in the job); computer skills; and internship/work experience.
- Few of the participants have hired permanently remote new college graduates. Just 13% stated they have those types of arrangements, and only 11% would consider it given the right candidate.
The highest average starting salary was Electrical Engineering at $71,500, a rate largely unchanged from the prior year.
This survey is available free of charge to ASE members (located in the ASE Member Dashboard) and for $525 to non-members. Non-members can request to purchase at https://eweb.aseonline.org/aseonlineorg-a3i9q/pages/uyppfzqveey0aaanoha6vq.html?PageId=7d4f2a531594ec11b400000d3a16babd.
ASE is Michigan’s trusted HR partner. ASE is a non-profit, membership organization – everything we do is based on the needs of members and to drive the success of their organizations. ASE strengthens organization's HR departments by offering member benefits and discounted services that span the entire employee lifecycle including recruitment, development, and retention while minimizing compliance risk. We provide our members guidance through new legislation and workplace issues such as those currently occurring with the COVID-19 pandemic. Learn more about ASE at www.aseonline.org.