Even though the nation's job market may still be in the clutches of the economic recession, The Black Collegian magazine says there are a number of career opportunities awaiting the class of 2002.
The magazine contacted major employers in business, industry, and government to learn where the jobs are. It found several accounting firms are among the employers with the highest projected number of jobs. Included in the top ten were Deloitte & Touche with 1,806 jobs, KPMG LLP with 1,400 jobs and Andersen with 554 jobs.
Accounting was the second highest of the majors in demand this year, with projected combined opportunities for bachelors' and masters' degree recipients as follows:
- Business administration - 5,353 opportunities
- Accounting - 2,970 opportunities
- Liberal arts - 2,607 opportunities
- Marketing - 2,601 opportunties
- Computer science - 1,708 opportunities
The Black Collegian also ranked leading employers within each major. For accounting, KPMG ranked first, followed by Deloitte & Touche and the U.S. Air Force.
Other findings confirm the job market prospects for the class of 2002 will not be as positive as they were during the past five years. Employers reduced hiring by 35% to 45% during the spring. Confidence in the economy has weakened from last year as a result of the September 11 terrorist attacks, and companies are dealing with excess capacity in their ability to provide goods and services. As a result, layoffs during the fall ran ahead of the large layoffs experienced during the early 1990s.
According to Michigan State University's annual "Recruiting Trends" survey, employers will hire 6% to 13% below last year's adjusted levels. Starting salaries will move upward by 1% to 3% with some realignment of the high end of the salary ranges.