The job market for new college graduates is up slightly from a year ago, making it the best market since 2001, according to the results of a survey of Minnesota employers conducted by the St. Cloud State University Career Services Center. Fifty-five percent of the survey respondents said they plan to increase hiring and 44 percent plan to maintain hiring of new college graduates.
The findings are from the second iteration of the only study specifically assessing the Minnesota job market for new college graduates, first conducted by St. Cloud State University in 2004. The 2005 St. Cloud State University survey was completed early this month.
The survey tapped employers who participated in recent Minnesota college job fairs. According to survey director Andrew Ditlevson, associate director of the St. Cloud State University Career Services Center, 121 employers participated for a response rate of 57 percent. While new college graduates should benefit from an improved job market, according to Ditlevson, "they should not expect to make more money than last year's graduates as the vast majority of employers (75 percent) expect to maintain salary offers from a year ago."
Financial services is the hottest market, with 75 percent of surveyed financial services businesses planning to increase their hiring, followed by retail and healthcare.
Majors most in demand are business administration/management, marketing, communications, economics/finance, accounting and psychology/sociology. Eighty percent of the employers indicated firm or tentative plans to recruit on campus, suggesting college students would be well advised to take advantage of their campus career services office and on-campus career fairs, said Ditlevson. Only 3 percent of employers have no plans to recruit on campus this coming year compared to last year's 13 percent. Asked what qualifications are needed for candidates to be considered by their organization, respondents were most likely to indicate that it is important for candidates to have a positive attitude and a strong work ethic. Other qualifications particularly valued by employers include the applicant's verbal communication skills and initiative. When they were asked what skills students entering the job market most need to improve upon, employers indicated, in order of preference, realistic job expectations, professionalism, career focus and work ethic.
St. Cloud State University offers its 15,500 students a variety of workshops and events to help them prepare to meet prospective employers, including resume writing, interviewing, and professionalism and etiquette.
Contact is Andrew Ditlevson, who can be reached at 320-308-4018. For an executive summary of the study, e-mail mproell@stcloudstate.edu.