Training and Careers
Many companies who recruit college graduates are stepping up recruiting efforts for 1999. 1998 was a record year for recruiting on campus and 1999 appears to be even better. According to the Wall Street Journal (12/8/98, p. B10), "The problem is that, with the stock market gyrating, no one is sure where the economy will be when it comes time to hire this spring."
Merrill Lynch & Co. say that they plan to hire about 260 graduates this year, about the same as last year. At the same time they intend to step up their recruiting efforts to find the right graduates. AlliedSignal, Inc. a New Jersey manufacturer says they will reduce hiring by 20% to 200 but will offer better incentives to students who visit their company, free electronic personal organizers.
The message seems to be that the quality of the prospective employee is even more important than expected. Companies are increasing efforts to find the best and brightest from the college class of 1999. Many students are hedging their bets for job offers. Some students are lining up interviews with companies that are clearly second or third options, just in case the job market turns more competitive. Applications to graduate programs are also expected to increase as students prepare for all their options.
The hottest college graduates are those with computer and technical training. Bachelor's degrees in communications or telecommunications are also gaining value in the job market (up 7.6%). Master's degrees in marketing and management information systems are also doing well for students with starting salaries up 13%.
The 12/8/98 edition of the Wall Street Journal reported that starting salaries for MBA graduates increased by over 10% in 1998. Projections for 1999 are that a 2% increase is all that should be expected. Low inflation and a surplus of MBA's in the marketplace are having an impact on salary offers.
The high school completion rate for U.S. students sits at 72%. According
to the Organization for Economic Cooperation and Development OECD, based
in Paris, this places the U.S. below twenty-two other nations. OECD reported
that the U.S. is not doing worse as much as so many countries are now doing
better. Below are the countries and percentage of high school graduates
for 1996.
| Norway | 100% | Russia | 88% | Netherlands | 81% |
| Belgium | 100% | Hungary | 86% | Switzerland | 81% |
| Japan | 99% | Germany | 86% | Greece | 80% |
| Finland | 98% | Austria | 86% | Ireland | 79% |
| Poland | 94% | France | 85% | Italy | 79% |
| N. Zealand | 93% | Czech Rep. | 83% | Canada | 73% |
| Portugal | 91% | Denmark | 81% | Spain | 73% |
| S. Korea | 91% | Sweden | 81% | U.S.A. | 72% |