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Employment opportunities begin to look bright.

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published June 12, 2006

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<<"I was really surprised how fast things fell into place," said Ruis, who started his new job in June as a supply chain management associate with San Diego Gas & Electric Co. "I heard the job market was going to be pretty good this year, but I didn't expect this."

College senior Dave Novi didn't think his luck was so good. He'd sent out about 100 resumes in recent months and received lukewarm interest.


Then the interview invitations kicked in. Two job offers came his way, but Novi held out. Finally, in May, LPL Financial in San Diego offered him the job he wanted, and he took it.

Novi immediately went from signing his job contract to San Diego State University's student travel agency, where he booked a celebratory 26-day trip to six European countries.

Successful job-search stories abound this year, as a strong national economy and employers eager to expand operations have made this the best year so far in the post-9/11 world for college graduates to find jobs.

U.S. companies expect to hire 13.8 percent more college graduates than just a year ago, the National Association of Colleges and Employers in Bethlehem, Penn., reported.

That's brought even better news for job seekers. The association has found that the top fields now dangle starting salaries in the $50,000 range. The average starting salary for all college graduates this year is estimated to be $45,723, or 6.2 percent higher than a year ago, NACE said.

"I think a lot of companies have realized they can no longer afford to neglect hiring younger workers," said John Challenger, president of the Challenger, Gray & Christmas outplacement firm in Chicago. "They know that college graduates have the technical proficiencies they need throughout their companies, and they are now willing to pay more for that."

Challenger said a sustained economic upswing and the recognition that baby boomers may soon be retiring also are spurring employers into action.

"There is no question that this is the best hiring market in the past five years," he said.

David Smith, a labor economics professor at Pepperdine University's Graziadio School of Business and Management, thinks the hiring surge is mainly a reflection of the overall economy.

The government reported that the economy grew at a robust 5.3 percent rate during the first quarter of 2006, its fastest rate in 2 1/2 years. Corporate profits climbed 8.8 percent, down from 13.8 percent in the fourth quarter of 2005.

Additionally, unemployment rates are relatively low across the board: The nation's jobless rate in April was 4.7 percent.

Looking at the whole, Smith wasn't surprised that employers have been aggressive in hiring this year.

"Business profits have been strong for the past two or three years and that tends to make companies more at ease when it comes to hiring," Smith said. "The entry-level markets are the first and most sensitive to economic conditions, so it would make sense that hiring is increasing. Those are the same markets that slow down first in a downturn."

But the swiftness of the rebound has caught some in the career counseling field by surprise.

"I actually had one of our students come in and ask for advice on how to negotiate for a job," said Linda Scales, the University of San Diego's director of career services. "I was stunned. In recent years, students would have taken the first job to come along, but now they are negotiating for the best deal. That's a big difference."

The University of San Diego holds several job fairs during the year, encouraging all students to attend so they will be better-versed in what employers are seeking.

And while the job fairs have always been popular with employers, they were even more so this year.

"We're limited by space as to how many employers we can take," Scales said. "Still, we're seeing a lot more employers express interest in attending."

One late March job fair had slots for 80 employers; the slots were filled a month before the fair.

Enterprise Rent-A-Car is one of the largest college recruiters, expecting to hire 7,000 graduates this year after hiring 6,500 last year.

"We've been growing at 10 percent a year and that means we have really concentrated on management trainees, which require college degrees," said Kim Martin, responsible for Enterprise recruiting at 12 college campuses in Southern California.

Enterprise depends on in-house promotions for most of its management jobs in its various divisions, so recruiting a constant supply of college-educated workers is essential, Martin said.

The choice of majors also can help students land a job in today's world. Scales said that USD graduates in accounting, outside sales, pharmaceuticals, financial services and the hospitality industry have been in particular demand this year.

"Accounting students have definitely been in high demand the past couple of years," she said, pointing to the Sarbanes-Oxley Act of 2002 that required companies to increase financial controls and reporting.

Jonathan Haskell, a finance and real estate major, talked seriously with six accounting firms. He had offers from midsized regional firms in San Diego and Denver but held out until he landed an offer to join the Big Four firm Ernst & Young as an auditor.

"That's the job I wanted all along," he said. "I thought in a big company I'd have a lot of opportunity and a chance to learn a lot."

Haskell thinks that choosing accounting also was a good decision, given recent financial scandals and increased regulatory oversight.

"Most of the people I know that are going into accounting are having an easy time getting jobs," he said. "I know people who are a little older and three or four years ago it wasn't quite as easy to get hired."


© Copley News Service
  1. Legal Jobs
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  6. Employment opportunities begin to look bright.

published June 12, 2006

( 5 votes, average: 4 out of 5)
What do you think about this article? Rate it using the stars above and let us know what you think in the comments below.

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