Compensation Rising for Recent Graduates

Share on LinkedIn Share on Facebook Share on Twitter Share on Google Plus Share this Page

With graduation day only a few months away, the pressure is on for many soon to be college graduates in need of full time employment. This flood of new job seekers on the market come May offers employers a great opportunity to take on these highly educated, enthusiastic potential new employees- and, even better, in most cases, these new employees can be brought on board at entry level compensation levels.

Benefits of Recent Grads

In fact, ERC/NOCHE’s 2012 Intern & Recent Graduate Survey reports that 42% of employers make their entry level hires directly from this pool of new college graduates. Their reasons for doing so are fairly consistent from year to year with the vast majority of employers recognizing new graduates not only as a great value (strong educational background, again for entry level compensation levels), but also as an opportunity for their organization to develop a talent pipeline, infuse the workforce with new energy, and boost the level of tech savvy among their employees.
Read this article...

Employers Eager to Hire Interns and Recent Graduates

Share on LinkedIn Share on Facebook Share on Twitter Share on Google Plus Share this Page

The results of the 2012 Intern & Recent Grad Pay Rates & Practices Survey, conducted by ERC and NOCHE, showed that an overwhelming majority (83%) of 117 participating Northeast Ohio employers were either maintaining or increasing their internship programs, while almost two-thirds (64%) were in the process of hiring or planning to hire new graduates for positions in their organizations. These organizations look for candidates with relevant majors in their field, high levels of professionalism, strong interpersonal and communication skills, and past work or internship/co-op experience.

Recruitment Trends

Despite a strong online recruiting presence, organizations are primarily using job boards/websites focused on interns or recent graduates to pursue candidates, social media remains low on the list of recruitment methods at for both interns and recent graduates. Interestingly, 2012's survey does mark a small increase in social media recruitment for recent graduates from the preceding years, up 9% from 20% in 2011. However, when compared to more traditional recruitment methods such as job postings on college career center websites or relationships with professors, social media recruitment methods appear to remain a largely untapped recruitment resource. This trend suggests that for tech savvy Millenials searching for an internship or first job, LinkedIn or Facebook may not be the most effective platform through which to reach potential employers.

Benefits of Interns & Recent Graduates

While the overall lack of interest in social media recruiting is consistent with trends in the world of Human Resources, it sits in stark contrast to one of the top emerging benefits of hiring interns and recent graduates, i.e. familiarity with the latest technological advances. Both groups continue to be seen as a key element for injecting organizations with fresh, innovative ideas, particularly in the realm of technology.

Employers commonly express a high level of confidence in the expertise of interns and recent graduates as employees. By coupling this high skill level with a strong financial incentive to hire from within these groups, pursuing interns and recent graduates as future employees is largely viewed as a positive investment in an organization’s future. 

The 2012 survey also reports average starting salaries for recent graduates, which vary significantly depending on the type of degree. Similar to the 2011 data, an engineering degree showed the highest average starting salary for a Bachelors degree.

Average starting salaries for college degrees

Degree Obtained

Average Starting Salary

Masters, Business Administration

$62,500

Bachelors, Engineering

$51,455

Bachelors, Computer Science

$50,000

Bachelors, Finance

$45,750

Bachelors, Information Technology

$44,000

Bachelors, Chemistry

$39,833

Associates, Information Technologies

$37,000

Bachelors, Accounting

$36,912

Bachelors, Business Administration

$35,880

Bachelors, Marketing

$34,687

Associates, Business/Marketing

$31,093

View the Intern & Recent Graduate Pay Rates & Practices Survey

This survey reports data from Northeast Ohio employers about their internship and recent graduate employment and pay practices.

View the Results

Employers Develop Younger Workers

Share on LinkedIn Share on Facebook Share on Twitter Share on Google Plus Share this Page

Cleveland– According to the 2011 ERC/NOCHE Intern & Recent Grad Pay Rates & Practices Survey, most Northeast Ohio employers invest resources in training, development, and performance management activities for younger workers, particularly new graduates.

The survey shows that over 70% of employers provide new graduates with an orientation during their first week (72%), conduct performance evaluations (71%), and provide regular feedback and coaching (71%). Additionally, more than half of employers provide formal training (56%) and access to a mentor (52%). Fewer (20%) offer management in training programs for new graduates, however.  All of these developmental activities were more commonly offered by non-manufacturers than manufacturers. Similarly, larger organizations tended to be most likely to provide these, although they were still commonly used by small and mid-sized organizations.

Specific training and development opportunities provided to their new graduates as cited by respondents included: on-the-job training, corporate culture training, product/industry/market training, mentoring, shadowing, and targeted leadership development programs.

The results of the survey show that organizations are making investments in training and development for their younger professionals and emerging leaders. These organizations understand the benefits of on-boarding and developing younger employees early in their careers for their businesses and in developing a pipeline of talent.

View the Intern & Recent Graduate Pay Rates & Practices Survey

This survey reports data from Northeast Ohio employers about their internship and recent graduate employment and pay practices.

View the Results

Career Centers: Key Stop for Internship Seekers

Share on LinkedIn Share on Facebook Share on Twitter Share on Google Plus Share this Page

Results from the 2011 ERC/NOCHE Intern & Recent Grad Pay Rates & Practices Survey indicate that career center services at colleges/universities remain the top resource utilized by Northeast Ohio companies to advertise internship opportunities.

According to the survey, which is conducted annually by ERC in collaboration with the Northeast Ohio Council on Higher Education (NOCHE), since 2009, over 60% of organizations consistently prefer the use of career centers compared to other sources utilized.

Other sources cited as commonly used include campus outreach (ex. career fairs, advertising), building relationships with college/university professors, as well as alumni contacts within these colleges/universities. 
This suggests that not only do college/university students dominate the internship workforce, but that utilization of their career centers is key to obtaining the internships they seek.

Research done here at ERC shows that career centers provide many benefits for both the employer and the potential intern.  For the employer, at minimum, most career centers offer job boards or an internal website to post internship opportunities.  For students, there are often a myriad of other services their career center offers to both help in their internship search, and in solidifying a career choice.

View the Intern & Recent Graduate Pay Rates & Practices Survey

This survey reports data from Northeast Ohio employers about their internship and recent graduate employment and pay practices.

View the Results