REDMOND, Wash.--(BUSINESS WIRE via COLLEGIATE PRESSWIRE)--Nov 13, 2002--A college degree has always been a substantial ''asset'' for a job-seeker, but in these uncertain economic times the value of a degree has been more difficult to judge.
Economic Research Institute (''ERI'') today announces a new ''tool'' to help both job seekers and employers understand and establish the economic value of a college degree.
The ERI College Graduate Compensation Study tracks and forecasts what college graduates will be offered for various degrees. The Study is based on wage data trends gathered by the Economic Research Institute, and it shows expected starting salaries for the next quarter.
For the 1st quarter of 2003 the average annual starting salary is expected to be $39,487. One year ago the average annual starting salary was $38,916. The expected salaries for the first quarter of 2003 reflect an increase of 1.469 percent compared to one year ago.
The college degree expected to experience the largest increase in starting salary is Nursing with an expected salary increase of +4.05 percent over 1 year ago.
The college degree expected drop the most in starting salary is Business Systems and Networking with a forecasted decrease of -3.26 percent in starting salaries compared to a year ago.
For the 1st Quarter, 2003, the Study shows the following expected changes over the first quarter of 2002:
Degree / ERI Expected Change
Accounting / +3.16%
Business Administration / +0.09%
Computer Sciences / +1.22%
Electrical Engineering / +1.85%
Elementary Education / +3.85%
Mechanical Engineering / +2.39%
Nursing / +4.05%
Marketing & Sales / +1.07%
''Until the economy starts to improve, we foresee small increases in the compensation paid to most college graduates except where there are shortages in fields such as Nursing,'' says Dr. David Thomsen, Director, ERI Economic Research Institute. ''Rising company revenues will be a sign of better things to come for college graduates.''
About ERI
ERI Economic Research Institute, www.erieri.com, was founded in 1987 to provide research for private and public organizations in the form of published reports and software database products. ERI`s research database software subscriptions are now used by 80% of the ''Fortune 500'' and thousands of other companies and organizations. Subscribers include corporate & government professionals in the fields of compensation (including Executive Compensation), relocation, and
human resources; and independent consultants.
ERI`s industry-leading Salary Assessor software was used in the calculation of the above index. A college student may also utilize www.salariesreview.com for an individual report for any of 1,800 Bachelor, Masters, or Doctorate degrees from U.S., Canadian and International locations.
ERI also offers online learning through its Distance Learning Center, www.eridlc.com.
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