Wednesday, May 2, 2001
The University Daily Kansan: GRADUATION ISSUE
Section B · Page 7
Newest crop of college graduates still fielding plenty of job offers
Tribune News Service
Macalester College graduating senior Ryan Abbe is one of the fortunate ones.
In July, he starts a $45,000-a-year job as an investment banking analyst for U.S. Bancorp Piper Jaffray in Minneapolis. He accepted Piper Jaffray's offer — complete with a signing bonus — in December.
Although Piper Jaffray has since laid off 70 employees during a bearish stock market, Abbe still has his job, and he takes a pragmatic view of his future in the company's financial institutions group.
"In this kind of economy, businesses still need people to get a lot of work done for relatively little money," said Abbe, 22, who majored in economics and earned a 3.6 grade point average at the St. Paul, Minn., college. "I still feel OK, but you never know, and that's part of the game."
Though layoffs are mounting nationwide, hiring of the latest crop of college graduates is still on the rise, according to fall and spring surveys by the National Association of Colleges and Employers.
The spring survey just completed
showed employers expect to hire 19 percent more college grads than they did a year ago. Still, that figure is down from the 24 percent increase that employers anticipated last fall.
"Definitely, things have slowed down," said Camille Luckenbaugh, employment information manager for the Bethlehem, Pa.-based association. "But when you look at the big picture, employers are still in a growth cycle. Unemployment is low."
A liberal arts major is not the kiss of death, however. Employers ranked liberal arts No. 5 among the top five majors they sought in college graduates, according to a fall 2000 survey by the Collegiate Employment Research Institute at Michigan State University. The others, in order: engineering, computer science, business and the sciences.
But last year's intense bidding wars for graduates in such fields as computer science, engineering and business appear to be cooling off. Multiple job offers and signing bonuses aren't as prevalent.
The first wave of baby boomers hits age 55 this year and could begin to take early retirement. If not, compa-
"In this kind of economy,
businesses still need people to get a lot of work done for relatively little money.I still feel OK,but
you never know, and that's part of the game."
Ryan Abbe
senior graduating from Macaulay Collage in St. Paul, Minn.
ties engaged in succession planning may hold off hiring, he said.
This spring, college counselors are advising students to expect longer job searches and not to wait until they graduate to begin. So far, they haven't seen a lot of recruiters canceling interviews or their booths at job fairs.
five years of experience.
When Toni Peluso entered the University of St. Thomas four years ago, the economy was booming. The public relations major wants to find a job in marketing or sales, but so far is discovering that her targeted employers want people with three to
"A lot of companies seem to be cutting back on entry-level jobs," said Peluso, who hopes to work in the Twin Cities area or Chicago. "It's hard to get a foot in the door, and the hardest part is getting an interview. Once I get an interview, I do fine."
Peluso, who minored in political science, went so far as to crash a job fair held last fall at DePaul University in Chicago, where a friend attends, to talk to potential employers.
"I was scheduled for an interview at Best Buy, but they canceled out of nowhere and told me they weren't hiring entry-level people," Gragrant said recently while waiting for an interview with a recruiter from ATG, a local information systems consulting firm.
Even those hot computer science majors are affected by the economic slowdown, said Loren Graagert of Stillwater, who is graduating from St. Thomas with a double major in computer science and biochemistry and a 3.74 grade point average.
Sofar, Gragerat has received one job offer in the high $40,000s. No bonus was offered. He is weighing whether
to take a job or go on to graduate school.
"Ithaven't any luck with the big science companies such as 3M, Medtronic and Honeywell — they're hiring Ph.D. s." he said.
Less competition for college graduates is a blessing for some employers.
The St. Paul Cos, will hire 100 college graduates this year, which is up from last year, said representative Arline Datu.
Even with the slowdown in some sectors, the job market is much better than it was when Sharon Kurtt graduated in 1980. The current director of career services for the University of Minnesota's Institute of Technology recently gave advice to students attending the university's annual GradFest, a one-stop shopping event for caps, gowns and last-minute job counseling.
"Igot one job interview—as a flight attendant for Eastern Airlines," Kurtt recalled, adding that was in the fall of her senior year. "I found myself in a room with 400 to 500 applicants, and some had Ph.D.s in biology. Here I was, 21 years old, competing with Ph.D.s for a flight attendant's job."
Kurtt didn't have much sympathy
AVERAGE YEARLY SALARY OFFERS FOR COLLEGE GRADS
Agriculture and natural resources majors: $30,109
Business majors: $40,036
Health sciences majors: $38,101
Engineering majors: $48,682
Health sciences majors: $38,101
Education majors: $27,278
Computer sciences majors:
$48,987
Health sciences majors $38,160
Humanities and social sciences majors: $29,516
Source: Winter 2001 Salary Survey, National Association of Colleges and Employers
Science majors: $34,562
or senior Eric Jensen, who is just beginning his job search and sought advice for his resume. Jensen will graduate with a 3.4 grade point average in management information systems—a somewhat hot field—from the Carlson School of Management. Jensen says he "dropped the ball" by not starting his search last fall when recruiting and hiring were busiest.
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OUR GRADUATION GIFT TO YOU A free Alumni Association membership from June through Nov. 2001
- Three issues of Kansas Alumni magazine. Stay up to date with KU sports, what's happening on campus,and what your KU friends and classmates are doing.
- E-mail forwarding. You can sign up any time after May 1 by accessing /www.kualumni.org and clicking on the e-mail forwarding link on our home page.
- Access to alumni chapters nation- and worldwide as well as professional society membership and events with your school.
- Access to health insurance, an MCI / WorldCom long-distance calling card, Jayhawk credit card and more!
- Get up to 50% off moving expenses with North American Van Lines in the continental U.S.
Questions? Call 864-4760
Kansas Alumni Association
CONGRATULATIONS CELEBRATIONS If you haven't already RSVP'd to these events, call 864-4760
- Enjoy free pizza and sodas at the Class of 2001 Grad Farewell sponsored by the Student Alumni Association 6-8 p.m. May 3, at the Adams Alumni Center. Glory Days Pizza Co., Pyramid, Lawrence Pizza Co., The Wheel and Papa Keno's will compete for the title "Best Survivor Pizza of 2001."
- Get psyched to walk down the Hill at the Commencement Lunch 10:30 a.m.-1 p.m. May 20, at the Chancellor's residence. Free box lunches for all graduates and their guests with tickets. Pick up your tickets at the Alumni Association's headquarters on the third floor of the Adams Alumni Center between 8 a.m. and 5 p.m. May 1-17. The class banner and gift will be presented at 11:30 a.m.
Put a 'Hawk in your pocket. Apply for your Jayhawk Visa at 1-800-222-745B. BONUS! Receive a FREE Jayhawk T-shirt, license plate, or Koozie when you apply at the Grad Farewell on May 3.
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