Compensation Resources, Inc. Releases Its 2006 College Graduate Salary Survey
08/01/06
By: Paul R. Dorf, APD, CRI
Upper Saddle River, N.J. – August 1, 2006 - Compensation Resources, Inc. has released the results of its 2006 College Graduate Salary Survey. The purpose of this study was to obtain compensation data and information on recruiting and hiring trends for recent and new college graduates. Data was collected in June 2006, and was compiled from survey questions that were developed by CRI and distributed to companies in over 12 industrial classifications, representing publicly-traded, privately-held, and not-for-profit organizations. The following table provides a summary of compensation results:
Year
| # of Incumbents
| Avg.
Weighted Base Salary
| Prevalence of Orgs Providing Bonus
| Avg.
Weighted Annual Bonus/
Incentive
| Prevalence of Orgs Providing Signing Bonus
| Avg.
Weighted Signing Bonus/
Incentive
|
2005
| 1434
| $40,748
| 27.7%
| $4,930
| 12.9%
| $3,087
|
2006
| 1526
| $44,894
| 45.5%
| $4,963
| 14.9%
| $3,581
|
Results indicated that in 2006, the average base salary is 10% higher than it was in 2005. Although annual bonus amounts are relatively the same, the number of companies that provided a bonus increased from 28% to 46%. Other survey highlights:
v Publicly-traded and privately-held companies consistently provided higher base salaries, annual bonus/incentives, and signing bonus/incentives as compared to not-for-profit organizations.
v The majority of responding companies indicated that turnover rates for recent college graduates was 15% or less.
v Throughout 2005 and 2006, the most frequently stated functional areas in which companies expected to hire the most college graduates include the following: Accounting, Actuarial, Engineering, Information Technology, Marketing, Product Development, and Sales.
