Accounting Majors Holding Their Own

NACE's Spring 2003 Salary Survey shows that accounting majors' average offer rose 2.6 percent to $41,360. The majority of their offers were for public and private accounting positions, but those receiving offers in the areas of consulting and financial analysis were more likely to be offered bigger paychecks. These grads were offered, on average, $42,145 for private accounting, $42,191 for public accounting, $45,680 for consulting, and $45,761 for financial analyst positions.

Among the business disciplines, business administration graduates received the highest increase. Their average salary offer stands at $36,515 -- 3.7 percent higher than the average offer of $35,209 in Spring 2002. Many of their job offers were for sales and management trainee positions.

Additionally, economics/finance majors received 1.8 percent more than last year, pushing their average offer up to $40,764, while marketing graduates received a 1.3 percent increase, raising their average offer to $35,822.

Management information systems (MIS) graduates were hit hardest among the business disciplines; their average offer dropped five percent, to $41,543. Although this degree is classified within the business disciplines, it contains many technical components, which may be one explanation for the decrease. A few years ago computer science majors were in demand, and their average salary offers, which increased steadily, reflected that demand. Currently, their average offer has decreased 7.6 percent to $46,536.

A separate report by NACE found that employers expect to hire about the same number of new college graduates for 2002-03 as they hired in 2001-02. By type of employer, overall, those projecting the highest increases in college hiring are construction companies (35.7 percent increase), consulting services organizations (14.3 percent increase), and public accounting firms (14 percent increase). Those looking at the steepest cuts in college hiring include utilities companies (31 percent decrease), engineering/surveying firms (29.1 percent decrease), and chemical manufacturers (22.8 percent).

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