By: American Society of Employers
American Society of Employers (ASE) releases 2019 Starting Salaries for Co-op Students and Recent College Graduates Survey
30% of organizations have increased their efforts to recruit new college graduates in 2019.
Media Contact: Heather Nezich, Manager, Communications, ASE, 248.223.8040, firstname.lastname@example.org
Livonia, Mich. —March 26, 2019 — The American Society of Employers (ASE), one of the nation’s oldest and largest employer associations, released the organization’s 2019 Starting Salaries for Co-op Students and Recent College Graduates Survey today. The annual survey provides a comprehensive look at the current state of wages and benefits provided to co-op students and recent college graduates. The survey also presents employers a snapshot of the recruitment and retention trends associated with these new entrants to the workforce.
Mary E. Corrado, ASE President and CEO, stated, “The data shows that college graduates have higher expectations for career growth and work environment than they do for compensation. Employers must realize that it takes more than fair and competitive compensation to create an engaging employee experience and retain these new workers.”
115 companies responded to the 2019 Starting Salaries for Co-op Students and Recent College Graduates Survey. The majority (76%) of the respondents have under 500 employees. Just over 80% of respondents are located in the metro Detroit region with 51.3% of those classified as automotive suppliers.
2019 Starting Salaries for Co-op Students and Recent College Graduates Survey Highlights:
- Nearly three out of four (74%) respondents say their company has hired, or plans to hire, a recent college graduate in 2019, similar to what was reported in 2018.
- 30% of the companies have increased their hiring efforts for college graduates this year compared to last year, an increase of 7% from 2018.
- The data suggests that the top five in-state institutions Michigan organizations actively recruit from are: 1) University of Michigan; 2) Michigan State University; 3) Oakland University; 4) Lawrence Technological University; 5) Kettering University.
- The top three most popular technical Bachelor-degree disciplines hired in the past year were: 1) Mechanical Engineering; 2) Electrical Engineering; 3) Computer Science.
- The top three most popular non-technical Bachelor-degree disciplines hired in the past year were: 1) HR/Labor Relations; 2) Finance; 3) Accounting
- The top three knowledge/skill factors organizations consider when making hiring decisions, in order, are: related coursework; computer skills; and internship/work experience.
- The top three perceived shortcomings of recent college graduates are: 1) career expectations (62%); 2) adaptation to work environment (60%); 3) compensation expectations (53%).
- Of the six disciplines named above (Accounting, Finance, HR/Labor Relations, Mechanical Engineering, Electrical Engineering, and Computer Science) the highest starting salaries went to the engineering disciplines. The average starting salary for Electrical Engineering was $68,330; and for Mechanical Engineering the average was $66,305. Finance came in at $53,981; Computer Science $53,445; HR/Labor Relations $49,144, and Accounting came in at $44,646.
- Pay rates for high school and college co-ops and interns were separated by technical and non-technical roles; the average hourly rate for a college senior in a technical field is $17.84 an hour and $16.20 for a non-technical field; the average hourly rate for a college junior in a technical field is $16.72 an hour and $15.17 for a non-technical field.
- This survey is available free of charge to ASE members and for $525 to non-members.
About the American Society of Employers (ASE) – a Centennial Organization
American Society of Employers (ASE) is a not-for-profit trade association providing people-management information and services to Michigan employers. Since 1902, member organizations have relied on ASE to be their single, cost-effective source for information and support, helping to grow their bottom line by enhancing the effectiveness of their people. Learn more about ASE at www.aseonline.org.