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The Job Outlook for the Class of 2005

The Job Outlook for the Class of 2005. Outlook For 2005. What We’ll Cover. Job Market for New College Graduates Who’s in Demand? Preferred Methods of Hiring. The job market for new college graduates. Outlook For 2005. Hiring Projections by Sector. By Sector:

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The Job Outlook for the Class of 2005

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  1. The Job Outlook for the Class of 2005

  2. Outlook For 2005 What We’ll Cover • Job Market for New College Graduates • Who’s in Demand? • Preferred Methods of Hiring

  3. The job market for new college graduates Outlook For 2005 Hiring Projections by Sector • By Sector: • Manufacturers plan to increase by 8.2% • Service employers plan to increase by 21.6% • Govt/Nonprofit plan to increase 3.2% Overall, employers plan to increase hiring of new college graduates by 14.5 percent this year

  4. Hiring Expectations From 2004-05 to 2005-06 • ServicesMoreFewerSame71.3% 14.7% 14% • Manufacturing 63.7% 22% 14.3% • Gov./Non-Profit 43.8% 25% 31.2% • _____________________________________ • Total/Overall 66.5% 18.2% 15.3%

  5. Projected Increases in Hiring Projections By Region • Northeast-25.8% increase • South-17.6% increase • Midwest-0.8% increase • West-15.8% increase

  6. Hiring Expectations by Regions RegionMoreFewerSame ◊Northeast 66.7% 17.6% 15.7% ◊South 77.5% 15.0% 7.5% ◊Midwest 60.3% 15.9% 23.8% ◊West 54.8% 28.6% 16.7%

  7. Hiring Expectations by Employer Type Employer Type2004-05Actual Hires2005-06 Projected Hires% Change ●Building Materials 451 864 91.7% ●Transportation 265 441 66.2% ●Chemical/Applied Products 113 184 62.4% ●Petroleum/Applied Products 219 225 53.2% ●Computer Software Dev. 1263 1880 48.9% ●Financial Services 812 1140 40.3% ●Merchandising Retail/Whsa 1005 1264 25.8% ●Engineering/Surveying 228 225 24.8% ●Accounting-Public 137 170 24.5% ●Food/Beverage Processing 482 586 21.6% ●Research Organizations 213 187 -12.2% ●Communication Services 439 364 -17.1% ●Mechanical Equipment 99 63 -36.4%

  8. Projected Campus Visits by Sector Industry04-05 Actual Visits05-06 Projected Visits% Change ►Service 2326 2479 6.6% Avg. 18 (campus visits per. yr.) 19 ►Manufacturing 1731 1850 6.9% Avg. 18 20 ►Govt./Non-Profit 370 358 -3.2% Avg. 22 21 ▲TOTAL 4427 4687 5.9% Avg. 18 19

  9. Employers Expectations for Fall Hires -2004 vs. 2005 and Salary Expectations ►More Hires 35.8% ►Same # of Hires 33.5% ►Unsure 27.4% ►Fewer Hires 3.3%_________________________________________ ▲Same Salaries 49.8% ▲Higher Salaries 46.9% ▲Lower Salaries 0.0% ▲Other 3.3%

  10. The job market for new college graduates Outlook For 2005 Employer intentions for on-campus recruiting during Spring 2005

  11. The job market for new college graduates Outlook For 2005 Hiring Projections by Region-Projected College Hires +13.9% +13.3% +15.1% +8.9% Northeast Midwest Southern Western

  12. The job market for new college graduates Outlook For 2003 Northeast: Spring recruiting plans: 76% plan to recruit on campus. Targeting business administration, electrical engineering, mechanical engineering, accounting, and computer science majors Midwest: Spring recruiting plans: 70% plan to recruit on campus. Targeting accounting, economics/finance, business administration, mechanical engineering, and computer science majors South: Spring recruiting plans: More than 73% plan to recruit on campus. Targeting business administration, accounting, mechanical engineering, economics/finance, and electrical engineering majors West: Spring recruiting plans: More than 80% plan to recruit on campus. Targeting electrical engineering, computer science, business administration, computer engineering, and mechanical engineering majors.

  13. Who’s In Demand? Outlook For 2005 Top Degrees In Demand • Doctoral Level • Electrical Engineering • Computer Engineering • Chemistry • Chemical Engineering • Physics • Mechanical Engineering • Bachelor’s Level • Accounting • Business Administration • Electrical Engineering • Economics/Finance • Mechanical Engineering • Computer Science • Information Sciences • Marketing Management • Management Info Systems • Computer engineering • Master’s Level • M.B.A.s • Electrical Engineering • Mechanical Engineering • Computer Science • Computer Engineering

  14. Who’s In Demand? Outlook For 2003 Who’s Hiring? (Bachelor’s level) Major most interested % of employers respondents Accounting………………………..accounting services……………………………………….. 100 utilities………………………………...…………………… 80 financial services……….……………………..…………… 67 Business admin…………………...merchandisers……………………………………….……… 79 food/beverage process .mfg……………...………….……... 70 financial services……………………………..….…….…… 58 Electrical Engineering…………….Electrical./electronic machinery &equip. mfg…………..…. 90 Utilities…………………………………………….…...… 80 Government (federal)…………………..………………....…70 Mechanical Engineering………….Utilities……………………………………………….…… 90 engineering/surveying………………………………….…. 64 *electrical/electronic machinery& equip. mfg……….…… 62 * Government (federal)……………………………….…… 62 Economic/Finance………………..Financial services……………………………….…….…… 75 Utilities…………………………………………….……..... 70 Merchandisers……………………………………………… .63

  15. Who’s In Demand? Outlook For 2003 Associate Degree Candidates Overall Projections: 27.8% of employers plan to hire associate degree candidates this year (down from 33.3% last year) By Sector: *Government/Nonprofit Employers: 40.7% plan to hire associate degree candidates *Service employers: 27.6% plan to hire associate degree candidates *Manufacturing Employers: 26.8% plan to hire associate degree candidates Best Bets: Insurance companies Utilities companies Electrical & Electronic Machinery Manufacturers Salary Projections: Engineering Technology(includes civil, computer, electrical, mechanical engineering technology) Average salary expected: $39,417 % Increase over last year: 2.2% Business (Includes accounting, general business, marketing , and telecommunications) Average salary expected: $29,500 %increase over last year: 0.6%

  16. Who’s In Demand? Outlook For 2003 International Students Overall Projections: 23.7% of employers plan to hire international students for full-time permanent positions in the U.S. this year (down from 34.1% last year) By Sector: *Government/Nonprofit Employers: 7.4% plan to hire international candidates *Service employers: 28.9% plan to hire international candidates *Manufacturing Employers: 19.8% plan to hire international candidates Best Bets: Engineering/Surveying Firms Electrical & Electronic Machinery Manufacturers Computer Software Development & Data Processing Services Firms

  17. Who’s In Demand? Outlook For 2003 Employers rate the importance of candidate skills Communication Skills………………………………… 4.7 Honesty/Integrity ……………………………………. 4.7 Teamwork skills ……………………………………… 4.6 Interpersonal skills …………………………………… 4.5 Motivation/Initiative …………………………………. 4.5 Strong Work ethic ……………………………………. 4.5 Analytical skills ……………………………………… 4.4 Flexibility/Adaptability ………………………………. 4.3 Computer skills ………………………………………. 4.1 Organizational skills …………………………………. 4.1 Detail oriented ……………………………………….. 4.0 Leadership skills ……………………………………… 4.0 Self-confidence ………………………………………. 4.0 Friendly/Outgoing …………………………………… 3.9 Tactfulness …………………………………………… 3.8 Well mannered/Polite ……………………………….. 3.8 GPA (3.0 or better) ………………………………….. 3.7 Creativity ……………………………………………... 3.6 Entrepreneurial/Risk taker …………………………. 3.3 Sense of humor ………………………………………. 3.3 Top Qualities & Skills Employers Look for in New Graduates

  18. Who’s In Demand? Outlook For 2005 Top Skills Lacking In New Graduates • Communication Skills • Maturity/business etiquette • Work Ethic

  19. Who’s In Demand? Outlook For 2003 Employers Give Advice to Students • Research, research, research • Be open-minded • Gain relevant work experience

  20. Preferred hiring methods Outlook For 2003 Employers: Most Effective Recruiting Methods • Organization’s internship program • Organization’s co-op program • On-campus recruiting • Employee referrals • Career/job fairs

  21. Preferred hiring methods Outlook For 2003 Benefits of Experiential Education Conversion Rates Interns: 31.9% Co-ops: 33.6% Percent of Respondents With Intern Programs: 79.8% Co-op Programs: 39.6% Percent of Hires With Internship Experience: 54.2% Co-op Experience: 25.2%

  22. Maintaining a program Outlook For 2003 For Employers: Strategies for gaining upper management support for your program • Outline past successes • Offer hard data • Outline the consequences of eliminating your college program • Focus on the future

  23. Maintaining a program Outlook For 2003 Benefits % of Respondents that identified this as a benefit Opportunity to mold future leaders of the organization 88 % New grads have cutting edge skills 51.9% Easier to identify a diverse applicant pool 35.4% Easier to fill positions because students are centrally located 21.2% New college grads will accept lower salaries than experienced college grads 21.2% Benefits of Hiring New Graduates

  24. Maintaining a program Outlook For 2003 Employers: Effectiveness of activities to maintain your image on campus Participate in campus career days/fairs, open houses, site tours ………………… 3.9 Provide info about your organization through company web site………………... 3.9 Offer info sessions………………………………………………………………… 3.6 Visit with faculty for informal exchange of information…………………………. 3.4 Participate in programs for student clubs, fraternities, sororities ………………… 3.4 Offer experiential education programs…………………………………………… 3.3 Participate in conferences for career services officers and faculty ………………. 3.2 Sponsor hospitality-oriented events for students, organizations, faculty and career center staff…………………………………………………….. 3.2 Offer a speakers’ bureau, lecture series, and/or seminars, to student and/or faculty group………………………………………………………………. 3.2 Offer resume critiques…………………………………………………………….. 3.0 Participate in mock interviews……………………………………………………. 3.0 Provide scholarships and/or grants……………………………………………….. 3.0

  25. Maintaining a program Outlook For 2003 How Career Services can help employers • Ask what you can do to help • Provide info about opportunities available through your office as well as other campus departments and organizations • Help employers get out the message out to all campus offices and students • Let employers know where they will get the most “bang for the buck” on your campus

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