Student Version NACE RESEARCH NACE RESEARCH. Job Outlook 2006 Student Version

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1 NACE RESEARCH Student Version Copyright 2005 by the National Association of Colleges and Employers (NACE). No part of this publication may be used, adapted, or reproduced in any manner without the written permission of NACE. Job Outlook 2006-Student Version is a service of NACE. NACE college and employer members have the permission of the National Association of Colleges and Employers, copyright holder, to download and photocopy this article for internal purposes. Photocopies must include this copyright notice. Those who do not hold NACE membership or who wish to use the article for other purposes should contact Claudia Allen, callen@naceweb.org, 800/ , ext NACE Research: National Association of Colleges and Employers/1

2 Top 10 degrees in demand (bachelor s degree level) EMPLOYERS PREDICT A 14.5 PERCENT INCREASE IN NEW COLLEGE GRAD HIRING Mechanical engineering FOR 2006 Electrical engineering For the third year in a row, the job outlook is Accounting positive. Business administration/management Employers plan to hire more new graduates Economics/finance from your class the class of than Computer science they hired in Many employers are Information sciences and systems offering higher starting salaries than were Marketing/marketing management offered to last year s graduating class, too. Computer engineering About two-thirds of employers plan to increase the number of new grads they bring into their Chemical engineering work forces by the end of this academic year. In fact, employers say one of their greatest Top 5 degrees in demand (master s degree level) challenges in the coming year will be competition for hiring the best and the brightest of M.B.A. Electrical engineering new graduates. Mechanical engineering More than nine out of 10 employers polled in a Accounting national survey, performed annually by the Computer engineering National Association of Colleges and Employers, describe this job market as good, very good, or excellent. Public accounting firms and consulting services firms reported the brightest outlook for new grads; engineering/surveying firms, building materials and construction firms, and financial services companies also predict that they ll be hiring. The growing demand for new graduates is a result of an increased demand for employers products and services. The rebounding economy and the aging (and retiring) work force further add to the positive outlook. Indications are that employers expect the good job market to continue or perhaps get better. Many employers plan to keep a close eye on the needs of their organizations. NACE Research: National Association of Colleges and Employers/2

3 Who s Hiring (bachelor s degree level) Major Mechanical Engineering Electrical Engineering Accounting Business admin./mgmt. Economics/finance Most Interested Employers Aerospace manufacturers Automotive & mechanical equip. mfg. Utilities Electrical & electronic machinery & equipment manufacturing Utilities Automotive & mechanical equip. mfg. Accounting (public) Insurance Aerospace manufacturers Utilities Food and beverage processing Insurance Merchandising (retail/wholesale) Financial service Banking (commercial) Transportation services Financial services Insurance WHICH MAJORS ARE IN MOST DEMAND? Employers plan to target business, engineering, and computer-related degrees at both the bachelor s and master s degree level in The list of top 10 degrees in demand at the bachelor s degree level contains many of the same majors as last year, but in a slightly different order. This year, the list is topped by mechanical engineering graduates, and employers having the most interest in them are aerospace manufacturers, automotive and mechanical equipment manufacturers, and utilities companies. At the master s degree level, employers continue to target M.B.A s as they did in M.B.A. s top the list this year, and over half of respondents, 51.2 percent who said they d be hiring master s degree candidates will hire M.B.A. s. At the doctorate degree level, employers will mainly target engineering, science and computer-related degrees. EMPLOYERS WANT GRADUATES WITH ASSOCIATE DEGREES, TOO Almost one-third of employers report plans to hire associate degree graduates in Associate degrees in demand fall primarily into three categories: business degrees, technology-related degrees, and engineering-related degrees. NACE Research: National Association of Colleges and Employers/3

4 INTERNATIONAL GRADS FIND SMALL MARKET FOR THEIR SERVICES International students will find the job market a little tougher going if they are looking for a fulltime, permanent job in the United States. Only 23.5 percent of respondents plan to hire international students in Employers said they were most interested in international students with electrical engineering, computer science, chemistry, chemical engineering and business administration/ management degrees. Manufacturers appear to have the most interest in hiring international students. By type of employer, electrical and electronic machinery and equipment manufacturers and research organizations hold the most promise for international students. WHERE WILL YOU FIND YOUR EMPLOYER? You may not have to go very far to find your first full-time employer: Check with your career services office to find out when companies you are interested in will be on campus. Since employers plan to hire more new college graduates in , you may see them spending more time on your campus. While just over 10 percent plan to get a jump on their work force needs by doing all their recruiting and hiring this Fall (2005), more than half of employers said they will be on college campuses during Spring 2006 to fill their rolls. Employers find on-campus recruiting company information sessions, career fairs, interviews to be an effective way of finding and hiring new graduates. Take a look at the list of places employers seek new graduates and you ll know where to begin your search! RESEARCH, EXPERIENCE, PREPARATION The job market is full of good news but even in a good job market, finding a job requires work and persistence. Just because employers are hiring doesn t mean you re going to slide smoothly from campus to conference table. Your chances of landing a job go up as you can demonstrate that you have the qualities and skills employers are looking for. If you want to be the best and brightest candidate, the job seeker employers prize, then take the following advice seriously. It comes directly from the employers who will be interviewing you for your first career job. NACE Research: National Association of Colleges and Employers/4

5 Employers rate the importance of candidate qualities/skills Skill Rating Communication Skills 4.7 Honesty/integrity 4.7 Teamwork skills (works well with others) 4.6 Strong work ethic 4.5 Analytical skills 4.4 Flexibility/adaptability 4.4 Interpersonal skills (relates well to others) 4.4 Motivation/initiative 4.4 Computer skills 4.3 Detail-oriented 4.1 Organizational skills 4.1 Leadership skills 4.0 Self-confidence 4.0 Well-mannered/polite 3.9 Friendly/outgoing personality 3.8 Tactfulness 3.8 Creativity 3.6 GPA (3.0 or better) 3.5 Entrepreneurial skills/risk-taker 3.2 Sense of humor 3.2 WHAT EMPLOYERS WANT (AND YOU NEED TO HAVE) Each year the survey is conducted, employers name the skills and qualities in the ideal candidate. They also compare their desires to the skills and qualities the current crop of graduates actually possess. A good G.P.A. is, of course, important. Employers look at other attributes, too. In fact, year after year, the number one skill employers say they want to see in job candidates is good communication skills: the ability to write and speak clearly. Unfortunately in spite of requesting this skill year after year, many employers also report that college graduates lack good grammar and writing skills. Employers also want new hires who are honest, have teamwork skills, and have a strong work ethic. WHAT COLLEGE CANDIDATES LACK Ironically, communication skills not only top employers list of most-desired skills, but also their list of the skills most lacking in new college graduates. (5-point scale, where 1=not at all important and 5=extremely important) NACE Research: National Association of Colleges and Employers/5

6 Top benefits employers offer to new college graduates Benefit Life insurance Medical insurance 401(k) retirement plan Dental insurance Annual salary increases Employee assistance/counseling program Tuition reimbursement Casual dress policy Planned social activities Bonus/commission plans Flextime Frequent performance reviews (more than one per year) Family-friendly benefits Pension plan More than two weeks vacation On-site fitness center Stock options Telecommuting Day care facilities Company car Payback of existing student loans Many employers reported that students have trouble with grammar, can t write, and lack presentation skills. Poor communication skills are often evident in the interview, where students are unable to articulate, as one employer said, how what they have done relates to/ contributes to the position they are seeking. In addition, employers pointed to other skills and attributes that had made their wish list, and cited those qualities and abilities as lacking in many new college graduates, e.g., relevant work experience, strong work ethic, teamwork skills, and the like. They also faulted new college graduates for not conducting themselves in a professional manner. GET EXPERIENCE AND LEARN HOW TO HIGHLIGHT IT ON YOUR RESUME AND AT YOUR INTERVIEW What this means is, you need some real-world experience before graduation. Although not everything can be fixed with an internship or co-op assignment, you can build many of the skills employers find lacking. An internship, for example, is not just an opportunity to gain experience, but it s also a setting for you to learn professional behavior, learn what it means to work in a team, and practice interpersonal communication. An internship or co-op position helps you see the professional skills employers seek in action and helps you learn how to fit into the world of work. NACE Research: National Association of Colleges and Employers/6

7 Plus, hands-on experience may lead to a fulltime job offer. Employers say they look within their own student programs to recruit new graduates. In addition, many employers said they offer higher salaries to new graduates who have any co-op or internship experience than they do to those who do not have that experience. Further, practical experience is an element that employers will look for on your resume whether it is with their organization or another. While employers prefer relevant work experience, having any work experience is better than no work experience. If you get this valuable experience before graduation, you ll have a distinct advantage over job candidates who lack the experience. APPEARANCE COUNTS You may not be able to judge a book by its cover, but a candidate s cover overall grooming and interview attire, for example is likely to be judged by prospective employers. organization than those who have no prior experience. Perhaps just as important as those attributes that have a strong influence on employers are those that exert a slight influence. When an employer has to make a choice among candidates, these are items that could make or break a candidacy. YOUR FIRST FULL-TIME JOB WILL COME WITH BENEFITS You ve heard it before but it bears repeating salary isn t the only thing you should consider when choosing among potential employers. Benefits are part of your salary. Employers seem to be right in line with what new graduates are looking for in benefits packages. Medical and life insurance is ranked as highly important by students responding to the NACE 2005 Graduating Student & Alumni Survey and it s offered to new hires by all the respondents to this annual survey. Employers were given a list of appearancerelated attributes and asked to rate the degree of influence that each attribute would have on their opinion of a candidate. The results mirror those of last year, with a candidate s overall appearance. An internship/co-op position pays future dividends, too. Long-term, graduates who have work experience tend to be happier in their first jobs. Employers say that former interns/coop students are more likely to stay with an And keep an eye on the third most frequently offered benefit, the 401(k). This way of saving for retirement may become increasingly important as fewer and fewer employers appear to offer a pension plan. This year, just 57.3 percent of employers said they could offer pension plans to new college graduates, compared to 64.9 percent who offered them last year (2004) and 70.2 percent who offered them in NACE Research: National Association of Colleges and Employers/7

8 Average signing bonus by major Major (B.A./B.S.) Average bonus (projected) Accounting $2,479 Business Administration/ Management $2,750 Computer Science $3,188 Civil Engineering $1,679 Electrical Engineering $2,625 Mechanical Engineering $3,900 Average signing bonus offered to M.B.A.s: $6,100 WILL YOU GET A SIGNING BONUS? It depends. If you re going into accounting, electrical engineering, or computer science, you are more likely to get a signing bonus than if you re planning to become a librarian, a newspaper reporter, or a social worker. Less than 50 percent of employers said they would offer signing bonuses to grads and almost 75 percent of those said they would offer them to select graduates, not all graduates. Bonuses will range from $500 to $7,000. Bonuses to select majors at the master s degree level ranged from as low as $750 to as high as $11,000. For selected doctoral degree graduates, bonuses ranged from $1,500 to as high as $10,000. DRUG SCREENING In last year s Job Outlook 2005 survey, 59.4 percent of respondents said they would conduct drug-screening tests on graduates that they d be hiring for full-time, entry-level positions. This year, the percentage is somewhat greater. Of respondents to the Job Outlook 2006 survey, 69 percent will conduct drug screening tests on graduates. Of those respondents who will conduct, a few noted that the tests are required based on location of the position, and one respondent noted that they are done at random. NACE Research: National Association of Colleges and Employers/8

9 ADVICE FROM EMPLOYERS Employers advise you to do three things to get the job you want: 1. Do your homework. Employers say that being knowledgeable about the company is a sure sign that you have taken the initiative to explore the company where you want to work. Do you want to make a good first impression? Then, do a little outside research before you apply to an organization. And walk into the interview knowing something about the company. Where is it located? What products/services does it offer? Have you read any news articles about the organization lately? What department do you want to work for? With many company profiles and web sites available 24/7 on the Internet and information available at your career services office, you can become familiar with almost any company. And knowing the basic information will help you answer questions about your skills and abilities and how they apply to the position you want. You ll also have a better handle on asking intelligent questions about the company during your interview. Unfortunately, even though this may seem like the easiest step in interview preparation, it is often neglected. That means, if you walk in prepared, you ve got a jump on other candidates for the job. 2. Get work experience. There is no substitute for actual hands-on work experience. It s what employers demand. Plus, many employers use their intern and coop programs as a job candidate pool. 3. Be prepared. Your career center is a great source of classes, workshops, and advice that will prepare you for your job search. Attend an interview training class. Participate in mock interviews. Be able to discuss your career objectives and cite examples of how your experience (internship/co-op/or summer job) relates to the job you are seeking. Compose a list of questions that you can ask a potential employer during the interview (keeping in mind that the questions should be relevant and creative here s where your research will come in handy). Dress appropriately. Be punctual for your interview. Be confident. NACE Research: National Association of Colleges and Employers/9

10 Should you ask the rents for their opinion Some parents are so minutely involved in their adult children s lives that they micromanage the process. One recruiter reported that a parent had asked, Why didn t my child receive an offer? A few employers said that parents had made phone calls to their organizations inquiring about openings, to check the status of their childrens applications, and to send resumes to hiring managers. Most parents, however, serve as a good sounding board for new graduates who are negotiating their first job offers. Employers said that new grads ask their parents about offers they receive, for advice on benefits packages and relocation. One employer noted, Students discuss their offers with their parents and as a result are asking insightful questions about benefit programs. WHAT THIS MEANS TO YOUR JOB SEARCH Target the right employers. Know who s hiring. Check with your career services office for employer schedules. Attend employer information sessions. Research potential employers. Get the interview. Perfect your resume. Highlight your work experience. Attend career fairs/on-campus recruiting. Prepare for the interview. Appropriate interview attire. Research the company. Be prepared to ask and respond to questions appropriately. One of employers biggest challenges, as the economy improves, will be competition for the best and the brightest new college graduates. This means, if you re an outstanding job candidate, you may have multiple job offers. NACE Research: National Association of Colleges and Employers/10

11 WORST INTERVIEW EXPERIENCES What s the worst that can happen if you don t follow the experts advice if you go to an interview unprepared, you don t act in a professional manner, or you just don t turn up for the appointment at all? Maybe you don t get a second interview or the job you want. Or, maybe you make such an impression that the recruiter remembers you (poorly) long after the interview is over. Here is the advice experts offer and employers recall the worst experiences they ve seen across the interview table. Experts advise: Be punctual. Student arrived 30 minutes late, then announced he had to go to the rest room. Candidate was a day late and obviously on something (i.e., drugs or medicine). Student was 20 minutes late. I called him on cell phone and he said he had to get gas and thought about calling to tell us he would be late. Experts advise: Don t use drugs. A man asked to leave the room in the middle of the interview. He went to the restroom and snorted a line of cocaine before he returned to finish the interview. Candidate came to interview with obvious signs of marijuana use. Person appeared to be drugged. The applicant was visibly intoxicated and wanted my job. When I told him what I made and the hours worked, he passed out. We flew a student from Texas to Maryland and [he] smelled of alcohol. His eyes were glassy. Experts say: Dress and act appropriately. An applicant cursed every other word. Candidate called me honey. Candidate showed up in casual attire, cursed during interview, and blamed party time the previous night as an excuse for lack of focus. Student went into tirade about alcoholic father. Outfit was incredibly inappropriate and made it impossible to carry on a conversation. Overwhelming body odor. Smelly and rude. Someone interviewing for a software developer position showed up in a T-shirt and shorts. We paid for him to come to town. The person smelled so bad that I had to open the door. Experts advise: Relax! Don t be nervous. Candidate was very nervous and sweating. Student was extremely nervous and shy. Student was so nervous that she cried. A student who was so nervous he sweated, wiped his brow, and then licked his fingers. NACE Research: National Association of Colleges and Employers/11

12 Experts advise: Don t answer your cell phone. Cell phone rang three times and the candidate asked me to hold while he took the calls. Candidate interrupted the interview to take a cell phone call. It was very distracting. A student got a call on his cell phone and talked for 40 minutes of a 45-minute interview. Experts advise: Just don t do this Candidate ed once and declined an interview. Then, candidate spoke rudely of the company to a recruiter and told executives that expected qualifications were unrealistic and unfair. After the technical portion of the interview, the candidate stated that he would never want to work for a company that screened their candidates like that. Candidate told interviewers that he has broken many Internet privacy laws. A candidate used racial slurs and stereotypes during the interview and talked about his poor behavior (drinking) as well. Female applicant asked many questions about working in a male-dominated industry, then advised the career services director that I (the recruiter) had asked those questions. Person didn t know who she was interviewing with, so made reference to a different organization throughout the whole interview. Student said, Times being what they are, I can t be too particular, so I m interviewing with you. NACE Research: National Association of Colleges and Employers/12