American Society of Employers (ASE) releases 2016 Starting Salaries for Co-op Students and Recent College Graduates

The American Society of Employers (ASE), one of the nation’s oldest and largest employer associations, today released the organization’s 2016 Starting Salaries for Co-op Students and Recent College Graduates survey. The annual survey provides a comprehensive look at current workforce conditions and reveals what co-op students and recent college graduates can expect in terms of job availability and compensation. Mary E. Corrado, president and CEO of ASE, says the 2016 survey reveals strong interest by employers to invest in students, as well as a high demand for graduates with technical and business-related degrees.

“In addition to providing updated salary information, this year’s survey reflects that the investment by Detroit area employers in co-op and internship programs remains strong,” Corrado said. “It also affirms the financial rewards available to new graduates with degrees in key engineering and business fields.”

170 companies responded to the 2016 Starting Salaries for Co-op Students and Recent College Graduates survey, which was distributed to 2200 employers in an online format in February. 75% of respondents are located in the metro Detroit region with an average of 590 employees (median employee count of 164); 48% are classified as automotive suppliers.

2016 Starting Salaries for Co-op Students and Recent College Graduates Survey Highlights:
• The “Labor Market” (62%) and “Performance of the Company” (50%) continue to be the two largest reasons for a change in hiring and recruiting practices for recent college graduates.
• There was a 5% overall increase from 2015 in organizations providing benefits to co-op students. Auto suppliers providing benefits to co-ops increased 9%.
• For college co-ops, the following benefits were provided at least 10% more often than in 2015: medical coverage, prescription drug coverage and dental coverage.
• There was a 10% increase in service industry companies who have hired recent college graduates in the past year, or plan to in 2016.
• Hiring of MBA students has increased since 2015. Hiring of MBA students with a technical undergraduate degree increased 12%; for MBA students with a non-technical B.A., the hiring increased 14%.

Hiring Trends:
• Nearly four out of five (79%) respondents say their company has hired, or plans to hire, a recent college graduate in 2016.
o Three out of five (60%) of those companies say hiring practices have remained the same in 2016 as 2015.
o Nearly two out of five (38%) of the companies who have hired or plan to hire a recent graduate in 2016 have increased their hiring efforts this year.
• Statistically, the top five in-state institutions the responding companies actively recruit from are: 1) University of Michigan; 2) Michigan State University; 3) Oakland University; 4) Wayne State 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) Business Administration; 2) Accounting; 3) Human Resources/Labor Relations.
• Automotive suppliers have decreased their hiring of Bachelor-level mechanical engineers, resulting in a 16% decrease in hiring among automotive suppliers compared to a year ago.

Candidate and Salary Trends:
• The top three knowledge/skill factors organizations consider when making hiring decisions, in order, are: 1) computer skills; 2) related coursework (i.e., to the work required in the job); 3) work experience/internships.
• As in 2015, the top three perceived shortcomings of recent college graduates are: 1) adaptability to the work environment (58%); 2) career expectations (55%); 3) compensation expectations (46%).
• Fewer companies are paying a premium for graduates from specific schools. Overall the percentage dropped from 6% in 2015 to 3% this year. But in Non-Auto Supplier organizations, the percentage dropped from 14% to 0%.
• However, more organizations are instead paying premiums for graduates with certain qualifications. 15% more service organizations, 18% more organizations with under 100 employees and 9% more Non-Auto Suppliers reported paying these premiums than what was reported in 2015. The overall increase was 5%.
• Of the six disciplines previously named (Mechanical Engineering, Electrical Engineering, Computer Science, Business Administration, Accounting and Human Resources/Labor Relations), the highest starting salaries went to the engineering disciplines. The average starting salary for Mechanical Engineering was $60,574 and $59,096 for Electrical Engineering. Computer Science came in on average at $57,115; Accounting at $49,918; Business Administration at $48,483; and Human Resources/Labor Relations at $49,485.
• Pay rates for 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 $17.36 an hour and $15.40 for a non-technical field; the average hourly rate for a college junior in a technical field is $16.09 an hour and $14.59 for a non-technical field.

To obtain a copy of the 2016 Starting Salaries for Co-op Students and Recent College Graduates survey, contact Kevin Marrs, Vice President at ASE, 248-223-8025 or kmarrs@aseonline.org.

About the American Society of Employers (ASE) – a Centennial Organization
The 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.

Walsh College Will Present Special Achievement Awards to Eight Students From Detroit Tri-County Area

Eight Walsh College students from Wayne, Macomb, and Oakland counties will receive special academic achievement awards in areas of finance, taxation, and accounting at the College’s 103rd Commencement on Saturday, June 21, 2014 at Zion Christian Church, Troy.

“We’re proud of the recognition Walsh College students earn both inside and outside the College,” said Dr. David Shields, executive vice-president and chief academic officer. “It’s a tribute to their scholarship and their achievement beyond expectations in Walsh’s challenging undergraduate and graduate business programs.”

The recipients, their academic standing, hometowns, and awards are:

• Lauren E. Hanna, (Master of Science in Taxation, 2013), Grosse Pointe Shores. Stanley W. Smith Taxation Manuscript Award. Each year, this award is bestowed on a Master of Science in Taxation student who has written an outstanding paper or thesis in the field of taxation.

• Nancy Winkler Spalding, (Master of Science in Taxation candidate), Grosse Pointe Woods. Everett Hawley, Jr. Taxation Award. The award promotes accounting and taxation through education. Named for the former chair of the Walsh College Board of Trustees, the award annually honors a graduate Taxation student for academic achievement.

• Harry Frederick Cook, (Master of Science in Accountancy, 2014), Warren. Bureau of National Affairs Graduate Accounting Award. This award recognizes an outstanding Master of Science in Accountancy student for his or her academic work and contribution to the College.

• Derek D. Baker, (Bachelor of Business Administration candidate), Rochester Hills, and Ryan J. Drews, (Dual Master of Business Administration/Master of Science in Finance candidate), Rochester. Financial Executives Institute (FEI) Award. Every year, the FEI Detroit chapter recognizes finance students for outstanding academic performance.

• Rachael M. Saferian, (Master of Science in Accountancy candidate), Commerce Township. Firman H. Hass Writing Award. The Detroit Chapter of the Institute of Management Accountants established this award to recognize a graduate student whose writing contributes to the accounting body of knowledge. It is named in honor of a former trustee and honorary doctoral recipient.

• Kelly M. Steward, (Bachelor of Accountancy candidate), Birmingham. Walter B. Fisher Award for Excellence in Accounting. This award is presented to a student who achieves a 3.5 or better grade point average in the Bachelor of Accountancy program. The recipient must also contribute to Walsh College or the accounting profession through tutoring, club leadership, community service, or other activities. It is named for the chair emeritus of the Walsh College Board of Trustees.

• Yulia Zelenskaya, (Master of Science in Taxation, 2014), Troy. Research Institute of America Graduate Tax Award. This award is given to an outstanding Master of Science in Taxation student for his or her academic work and contribution to Walsh College.

In addition to receiving certificates of recognition, the students will be honored by having their names engraved on plaques in the Founder’s Court on the Troy Campus.

For more information about Walsh College, visit www.walshcollege.edu.

WALSH COLLEGE
Founded in 1922, Walsh College is a private, not for profit institution offering upper-division undergraduate and graduate business and technology degrees and certificate programs. One of Southeast Michigan’s largest business schools, Walsh has locations in Troy, Novi, Clinton Township, and Port Huron, as well as online. Walsh’s business services division offers the Walsh Institute, which provides solutions for businesses through training, continuing education, and consulting.

Walsh is accredited by The Higher Learning Commission of the North Central Association of Colleges and Schools (www.ncahlc.org; phone: 312-263-0456). The Accreditation Council for Business Schools and Programs (ACBSP, www.acbsp.org) accredits specific degree programs.