Job Market for College Grads Strongest Since 2000, According to MonsterTRAK Annual Entry-Level Job Outlook
MAYNARD, Mass.--(BUSINESS WIRE)--April 13, 2005--
Survey Reveals Brightening Job Market for 2005 Graduates; Sales and Administrative & Support Services among Hottest Sectors for Entry-Level Job Opportunities
Good news is ahead for 2005 college graduates. This year's job market for entry-level workers demonstrates a markedly improved economy, with job opportunities available in a variety of sectors. As the leading careers site for college students and young alumni, MonsterTRAK today announced the results of its annual graduation survey of college students, recent graduates and the employers who will be hiring them. Among the findings, 80 percent of companies surveyed with 5,000 or more employees plan to hire 2005 graduates this Spring/Summer and a remarkable 90 percent of companies with 10,000 or more employees plan to hire 2005 graduates. MonsterTRAK is the student division of Monster(R), the leading global online careers property and flagship brand of Monster Worldwide, Inc. (NASDAQ: MNST).
2005's college graduates are also feeling more confident about the job market, with 83 percent expecting at least one job offer upon graduation. This is compared to last year's survey, which showed that 51 percent of college seniors did not expect a single offer upon graduation.
"Compared to recent years, we are seeing strong growth in the number of jobs available for new grads, particularly in sales and support services such as finance and accounting," said Michelle Forker, Senior Vice President, Monster Campus. "It's also heartening to see such a high percentage of large companies hiring college graduates this year - a sign that they are confident of their business and revenue growth in 2005. Large companies tend to hire a greater number of workers in general, so these employers may prove to be a goldmine for 2005 grads."
As an example, PricewaterhouseCoopers, a Big Four accounting firm and a top employer of recent college graduates in the nation, is increasing its hiring of college graduates this year. "We are hiring 24 percent more entry-level graduates than last year, and 55 percent more entry-level graduates than two years ago," said Amy Van Kirk, National Campus Recruiting Director for PricewaterhouseCoopers. "Though the job prospects for the class of 2005 are far better than recent years, it's still important for students to take advantage of the time they have left before graduation to ensure they are at the forefront of these great opportunities."
MonsterTRAK 2005 College Graduation Survey Highlights (a)
Today's market certainly shows an improved economy with significant job opportunities for entry-level workers.
Survey findings reveal:
- Companies are beginning to hire entry-level candidates with the improved job market, with 64 percent of all employers surveyed planning to hire entry-level workers this spring/summer. In addition, 56 percent of employers expect an average starting salary over $30,000 for entry-level workers (compared to 51 percent last year).
- College grads are ready: 75 percent of 2005 graduates feel they are prepared to enter the workforce.
Internships are increasingly important for today's college graduate:
- 59 percent of this year's graduates prepared themselves for the job market by completing at least one internship.
- Of the employers surveyed who have an internship program, 25 percent say the program has grown since last year, and 57 percent say the program has remained the same. As a testament to the importance of internships, 85 percent of 1,834 interns at PricewaterhouseCoopers during 2004 were eventually offered full-time positions with the firm.
Though the job market has improved, students continue to move back home to save money and also because of the high costs of living:
- 60 percent of this year's graduates plan to move home after graduation - compared to 57 percent of last year's graduates who said they planned to move home after graduation. (b)
- While 48 percent of the 2004 graduates surveyed in this year's survey found their job within four months of graduation, 45 percent of 2004 graduates are still living at home with their parents.
Where are the Job Opportunities?
A comprehensive analysis of Monster job postings in the United States finds that entry-level job opportunities are most abundant in:
1. Sales, which accounts for 25 percent of all current, nationwide entry-level jobs
2. Administrative and Support Services with 10 percent.
3. Customer Service and Call Center with 6 percent
4. Advertising & Marketing, Retail and Healthcare each represented with 5 percent of nationwide entry-level jobs
A comprehensive analysis of Monster job postings in the United States finds that the top states for entry-level job opportunities include:
1. California (15 percent of all entry-level jobs nationwide)
2. Texas (9 percent)
3. Florida (7 percent)
4. New York (6 percent)
5. Illinois (5 percent)
For the top cities nationwide for job opportunities:
1. Los Angeles (8 percent of all entry-level jobs nationwide)
2. New York City (7 percent)
3. Chicago (5 percent)
4. Philadelphia (5 percent)
5. Boston (4 percent).
For detailed survey findings about the graduating classes of 2004, 2005, or 2006, or to learn where your state falls in the data, please contact Kevin Mullins at 978-461-8751 or Kerry Parke at 617-520-7019.
(a) The MonsterTRAK Entry-Level Job Outlook was conducted through targeted online distribution to nationwide MonsterTRAK customer companies and college-age students and recent alumnis who are MonsterTRAK members, recording results from more than 900 employers and nearly 11,000 students.
(b) The results of this MonsterTRAK poll are based on 1,507 votes cast by MonsterTRAK users February 28th, 2005 to March 8th, 2005, on the seeker homepage of MonsterTRAK. Only one vote per user is counted toward the final tabulation. The content of the MonsterTRAK site is targeted specifically to college students. Anyone interested in voting in MonsterTRAK's current online poll may do so by logging onto MonsterTRAK at www.monstertrak.com/seekers. Users may review the results of past polls by visiting http://content.monstertrak.monster.com/polls.
Monster is the leading global online careers property. A division of Monster Worldwide (NASDAQ: MNST), Monster works for everyone by connecting quality job seekers at all levels with leading employers across all industries. Founded in 1994 and headquartered in Maynard, Mass., Monster has 25 local language and content sites in 23 countries worldwide. More information is available at www.monster.com or by calling 1-800-MONSTER. To learn more about Monster's industry-leading employer products and services, please visit http://recruiter.monster.com.
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