Your #Career : College Students: These 7 Industries Are Hiring Like Crazy… Here are 7 Industries that Expect to Significantly Increase their Hiring of New Grads with Bachelor’s Degrees

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College seniors, it’s time to get cracking on your resumes. The job market for the class of 2015-16 is strong, according to Michigan State University’s Recruiting Trends survey, with hiring projected to increase 15% over last year.  “Most signs point to another explosive year of growth in the job market for college graduates,” said Phil Gardner, a Michigan State economist and the survey’s lead author.

 

Researchers asked 4,700 employers in every state about their hiring plans for this year. They found that employers in virtually all industries are expecting to expand their payrolls this year. Increased turnover, baby boomer retirements, and strong business growth are all driving increased hiring.

While the overall outlook for hiring is good, the future looks especially bright for graduates in fields like hospitality, business, and finance, which all expect to boost hiring by 20% or more. Even construction businesses, which have struggled post-recession, expect to increase their hiring of graduates by 19% this year.

People seeking jobs with non-profits, the government, and real estate may struggle more to find work. Hiring should be up in those fields, but only in the single digits. People looking for work in the mining and oil industries may want to start panicking now, though. Hiring looks to be down 47% compared to last year. Meanwhile, companies that manufacture chemicals and pharmaceuticals are dialing back hiring by 40%.

One area where newly minted grads won’t see a big increase? Their salaries. Starting salaries should grow by 2% to 5% this year, according to the survey.

Here are seven industries that expect to significantly increase their hiring of new grads with bachelor’s degrees this year compared to last.

1. Educational services

Hiring increase: 73%

Education majors have had a tough go of it in recent years, as school districts slashed jobs and cut budgets. But things seem to finally be turning around. California alone planned to hire more than 21,000 teachers for the2015-16 school year.

Education graduates might want to expand their job search beyond the traditional school environment. While there should be more jobs available for elementary and high school teachers, companies that provide other educational services like alternative learning, online content development, and tutoring expect to increase hiringby 73%.

 

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2. Management services

Hiring increase: 64%

Hiring is strong in the professional, business, and scientific sector, where jobs should increase by 38% for new bachelor’s degree holders. Things are looking especially good for the future managers of the world; the number of jobs available is expected to double compared to last year.

3. Accounting

Hiring increase: 63%

Number-crunching students, rejoice. Hiring for new accountants should be up 63% this year. The average starting salary for accounting majors in 2014 was $48,420, according to the National Association of Colleges and Employers.

4. Insurance

Hiring increase: 49%

Job growth in the financial industry is strong, with hiring up 28% over last year. But the real bright spot is the insurance industry, which plans to boost job offers to new grads by 49%. Jobs in depository banks, in contrast, are disappearing, with hiring in that sector down 26% from 2014-15.

5. Administrative services

Hiring increase: 40%

The broad category of administrative services, which includes jobs in office administration, employment services, and business support, is doing well. Hiring of recent grads should increase by 40% this year.

6. Utilities

Hiring increase: 35%

Jobs for bachelor’s degree holders in the electric power, natural gas, water supply and sewage, and airconditioning industries should increase by more than 30% this year. People with less than four years of experience who work in the water utilities industry earn about $50,000 annually, according to Payscale, while those in electric power distribution earn about $61,000 per year.

 7. Internet services

Hiring increase: 34%

Most people won’t be surprised to see that hiring at Internet-related businesses is up this year. In fact, jobs at these companies are responsible for almost all the growth in the broader information services sector. Little or no growth is expected in the publishing, film, and broadcasting industries.

Follow Megan on Twitter @MeganE_CS

 

Cheatsheet.com | November 1, 2015 | 

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