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Starting Salary Survey Says…

by Anne Marie Hampshire

Once the mortarboard comes to earth and the hangover clears up, it's time for you, College Graduate, to hit the bricks and earn your own keep. But where to start?

Looking for a job fresh out of college can be a daunting task. We're here to provide some encouraging information (mean annual salary for anesthesiologists = $184,340) as well as some more sobering statistics (mean annual salary for fast-food prep = $15,230).

Odds are, you'll fall somewhere in between "Hi, I'm Doctor insert your name here." and "You wanna Supersize that for only 35 cents more?" In this article we'll take a look at the nation's best paying and worst paying industries. Of course, all of these career paths twist and turn when you factor in training and geographical location, but this primer will help point you in the right direction.

Cream of the Crop

Engineering
According to the National Society of Professional Engineers (NSPE), entry-level jobs in engineering still pack a wallop. According to a recent NSPE survey, the average salary for an engineer with less than one year of experience is $46,059. Licensure status, specific discipline, location and other factors can push that figure up or down, but engineering remains a strong field for job seekers fresh from their undergraduate studies. For those who rise up through the ranks, it's worth noting that nuclear engineers have the highest average annual salary of all disciplines: $119,643.

Banking
Banking is a volatile industry for job hunters. Trends toward automation, slim profit margins, and banking's strong link to the housing market can make for a wild ride, but for four-year degree holders, there are some lucrative spots. Of course, many positions in the industry don't call for a bachelor's-for example, a teller will typically make about $26,000 per year, and a loan or credit clerk with some training will bring in around $36,000. But, when you add a four-year degree and some basic training, things start to look up. The average salary for securities and financial salespeople is $116,450, and loan officers and counselors pull down about $84,530 a year on average.

On the Rise
Students graduating with marketing and business administration degrees will see their stock continue to rise, according to a survey from the National Association of Colleges and Employers (NACE). The average starting job offer for marketing majors is $41,323-an increase of 14% from 2006. Students coming out of college with a bachelor's in business administration can expect to pull down $43,523, which is a 9.2% hike from 2006.

Other big gainers according to the NACE are management information systems (up 5.5% to $46,568) and civil engineering (up 4.8% to $47,145). Finally, the futures of the computer and health care fields are also looking rosy. According to Money and Salary.com, technology and health care now make up nearly a third of the nation's 50 best jobs.

Bottom of the Barrel

Interpreting the hard data to come up with the nation's worst-paying industries for graduates is tricky business. According to a Forbes.com look at the country's best and worst-paying industries, you won't be surprised to see the food service and leisure industries at the bottom of the list. Probably not a factor in your career selection, but good to note as many college grads make ends meet in those industries while getting their dream careers up and running.

For statistics-savvy job hunters armed with a bachelor's degree, the U.S. Department of Labor's Bureau of Labor Statistics keeps tabs on 14 industry sectors and provides mountains of data on the jobs in each one. A perusal of their Web site shows that working with children remains a low-paying field, with elementary school teachers averaging $32,940 per year. Newly minted college grads can also expect to be paid a relatively low wage in the community and social service field-about $32,000 per year.

"Hi, Mom. I'm home!"

When it comes to diving into a career, discretion might prove the better part of valor. Many students-turned-workers can rack up debt just getting set up with a place to live, utilities, and other basic expenses. In fact, according to Monster.com, about 60% of college graduates first move back home to get on more stable financial footing before hunting their dream job-maybe a wise move for those of us not destined for nuclear engineering or selling stocks and bonds. Just don't move into the basement and start watching Star Trek reruns.