Engineering among the most lucrative college degrees

CNNMoney.com reported last month that salaries of new college graduates jumped across the board this year as demand increased — engineering salary increases were among the highest surveyed.

According to a study by the National Association of Colleges and Employees (NACE), nearly nine out of 10 employers reported that they’re seeing more competition for new college graduates than in past years. “This continues the positive trend reported in the Winter and Spring issues of Salary Survey, said Marilyn Mackes, NACE executive director, referring to the association’s quarterly report.

The results suggest that the increased hiring is translating directly into higher average starting salary offers.

According to the report, students who made out the best were chemical engineering majors, earning an average 5.4 percent more than last year, bringing their average to $59,361. Computer engineering majors were offered $56,201, up 4.8 percent, and mechanical engineering grads offers’ rose 4.6 percent to $54,128.

In compassion, starting salary offers for electrical engineering graduates increased 3.2 percent to $55,292, civil engineers earned $48,509, up 5.4 percent and computer science majors saw salaries rise 4.1 percent to $53,396.

In case you were wondering, accounting grad’s average rose 2.3 percent to $46,718, business administration and management graduates saw their average rise 3.9 percent to $43,701 and psychology majors were offered an average of $33,631, up 4.7 percent.

(Source: CNNMoney.com, July 12, 2007)

— Mel Torre
ASME Communications

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