Job Offers Decline while Salary Expectations Remain High Sales and Education Positions Among Most Prevalent Nationwide
MAYNARD, Mass.--(BUSINESS WIRE)--April 22, 2002-- An estimated three million students will finish final exams and earn their diplomas this spring, but the biggest test of their lives still lies ahead - finding their first "real" job. With unemployment inching up to 5.7 percent last month, these new graduates are entering a tight job market. However, according to data released today by Monster(R), the leading global online careers site and flagship brand of TMP Worldwide Inc. (NASDAQ: TMPW), categories such as sales, administrative/support services, accounting and finance, education, and non-profit currently offer the most entry-level job opportunities.
Based on a comprehensive analysis of Monster job postings in the United States, entry-level job opportunities are most abundant in sales, which accounts for 19 percent of all entry-level jobs, and administrative/support services, with 13 percent. Monster also determined that customer service offers a valuable opportunity for entry-level job seekers, with more than one-fifth (21 percent) of all its positions classified as entry-level. Other leading categories for entry-level jobs for college students and young alumni are Education, Accounting & Finance, and Non-Profit, including Government.
In addition to these "hot" industries, Monster Data Intelligence, a group focused on analyzing Monster data, revealed that certain geographic regions are clamoring for entry-level talent. Overall, California offers the greatest percentage of the nation's entry-level jobs with 14 percent, followed by Texas (8 percent), Massachusetts (7 percent), and New York (6 percent).
In terms of percentage of entry-level opportunities among all jobs within each state, Massachusetts, Maryland and Alabama lead the way, as 13 percent of all jobs in those states are listed as entry-level positions. Indiana and Missouri follow with 12 percent each, and Tennessee with 11 percent.
"With graduation just around the corner, this is the high season for 2002 college graduates to firm-up their future plans," said Ken Ramberg, senior vice president of MonsterTRAK, the definitive career resource for college students and alumni. "Although it is a tougher job market than in recent years, opportunities still exist for this year's graduates; they just need to work a little harder to find them. For example, current top categories on MonsterTRAK include Education, Accounting & Finance, and Non-Profit. As the class of 2002 broadens their search and their salary expectations, they'll find an abundance of employers eager to hire them."
According to Monster Data Intelligence, the jobs most coveted by 2002 graduates are in Advertising/Marketing/PR, with 11 percent of Monster entry-level resumes falling into this category. Other popular fields include IT (8 percent), engineering, (6 percent) computers/software (5 percent), arts/entertainment/media (5 percent), sales (4 percent) and administrative support (4 percent).
Despite the recession, Monster found that 2002 college graduates still seek strong salaries. The average asking salary is $39,600, with students requesting $46,500 for jobs in engineering, $41,000 for sales, $36,200 for accounting/auditing, $34,700 for advertising/marketing/PR and $33,700 for arts/entertainment/media. According to Salary.com, the majority of these asking salaries are in-line with national median entry-level compensation ranges.
Recently recognized as the Best College/New Grad Jobs Site by Yahoo! Internet Life magazine (May 2002), MonsterTRAK teams-up with over 1,350 college and university career centers, MBA programs, alumni associations and student groups, providing more entry-level jobs than any other career management entity, on- or offline. Since its inception in 1988, more than 500,000 employers have utilized MonsterTRAK to post full-time, part-time and internship opportunities.
For additional information, tables detailing survey findings, or to learn where your state falls in the data, please contact Kevin Mullins, 978-461-8751.
About Monster
Monster, headquartered in Maynard, Mass., is the leading global careers website, recording over 43 million unique visits during the month of March 2002 according to independent research conducted by I/PRO. Monster connects the most progressive companies with the most qualified career-minded individuals, offering innovative technology and superior services that give them more control over the recruiting process. The Monster global network consists of local content and language sites in the United States, United Kingdom, Australia, Canada, the Netherlands, Belgium, New Zealand, Singapore, Hong Kong, France, Scotland, Germany, Ireland, Spain, Luxembourg, India, Italy, Sweden, Norway, Denmark, Switzerland, and Finland. Monster is the official online career management services sponsor of the 2002 Olympic Winter Games and 2002 and 2004 U.S. Olympic Teams. More information about Monster is available at www.monster.com [1] or by calling 1-800-MONSTER.
About TMP Worldwide
Founded in 1967, TMP Worldwide Inc., with more than 11,000 employees in 32 countries, is the online recruitment leader, the world's largest Recruitment Advertising agency network, and one of the world's largest Executive Search and Executive Selection agencies. TMP Worldwide, headquartered in New York, is also the world's largest Yellow Pages advertising agency and a provider of direct marketing services. The company's clients include more than 90 of the Fortune 100 and more than 480 of the Fortune 500 companies. In June 2001, TMP Worldwide was added to the S&P 500 Index. More information about TMP Worldwide is available at www.tmp.com [2].
Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the company's strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions, competition, seasonality and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
CONTACT:
Kevin Mullins
Monster
978-461-8751
kevin.mullins@monster.com [3]
or
Kelly Sullivan
Weber Shandwick Worldwide
617-520-7239
ksullivan@webershandwick.com [4]