Upper Saddle River, N.J. – May 2004 – Compensation Resources, Inc. has
launched the outcomes of its 2003-2004 College Graduate Salary Survey. The
function of this research study was to acquire payment information and info on
recruiting and employing patterns for brand-new and current college graduates. The
study tested payment information from 71 companies, consisting of 1,253 tasks.
The outcomes do not suggest any unforeseen or stunning outcomes, and for
one of the most part, they follow other research studies covering more comprehensive
staff member payment patterns.
Among the most considerable findings was that overall money payment, which includes wage and bonus/incentives, increased by a decent 6.1%, despite the fact that wages just increased by a modest 0.8%. This follows the pattern of increased usage of variable pay aspects by numerous companies. Variable pay permits business to provide competitive pay with upside capacity, while managing set overhead for payroll expenses, and to some degree, reducing the effect of greater wages on advantage expenses (i.e., trip and time off advantages, retirement, some insurance coverages, and so on).
Some extra highlights:
- Findings for 2004 suggest that the monetary services market is
the leading paying market for current college graduates ($ 60,900).
- Companies are presently using a wide range of techniques to
hire current college graduates. The 3 most similarly popular techniques
are College Career Centers, Employee and Business Associate Referrals, and
Web Job Boards.
- The bulk of reacting business have turnover rates of current
college graduates of 15% or less.