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Whether it’s hiring new graduates or bringing on undergraduate students for internships and co-ops, more and more organizations are competing to bring in younger talent. According to the US New Graduate Pay and Student Hiring Rates Survey, 90% of organizations are now offering programs specific to new graduate hiring, 92% are offering summer internship programs, and 31% are offering co-op education programs.
These programs are helpful for employers and HR professionals alike because they provide strategic, cost-effective ways to train, recruit, and retain young talent. By analyzing and understanding new graduate hiring and salary data, you can gain valuable insight into the top recruitment and compensation trends concerning new graduates, summer interns, and co-op students. By benchmarking this type of data to keep up with the trends, your organization will be better positioned to compete for the next generation of talent to take your workforce into the future.
Overall, students with a bachelor degree are still being recruited and hired at higher levels than students with associate’s degrees or community college diplomas. But, the latest data shows that recent graduates with certain types of Bachelor’s degrees are being recruited faster and by more organizations than their peers. This can be seen in the following data showing the top-recruited degree types by all organizations over the past year, along with their starting salaries:
While recent data indicates that Bachelor’s degrees are being recruited, hired, and compensated competitively across all industries, postgraduates are still being compensated appropriately higher than postsecondary graduates.
Just like jobs, not all internships recruit equally. However, there were some similarities between the first, second, third, and fourth-year students that were recruited this past year. Overall, the survey revealed that Bachelor of Science students were the most recruited for summer internships:
The findings also showed that organizations are becoming dedicated to compensating their interns through monetary and other means, suggesting that the “unpaid internship” is becoming a thing of the past. Throughout the past year:
Cooperative education programs provide students with opportunities to gain full-time, hands-on career experience with real companies. This past year, the national average length of co-op assignments was 21 weeks, but this length did vary based on geography. For example, co-ops working on the west coast were on assignment an average of 29 weeks, a whole 2 months longer than the national average.
Meanwhile, students in the Bachelor of Engineering and Bachelor of Science programs were the most frequently hired for co-op jobs across all four years. In fact, surveyed organizations indicated that:
If you want to discover even more in-depth insights regarding the next wave of talent entering your workforce, the US New Graduate Pay and Student Hiring Rates Survey has the most robust data available. This expansive report features robust survey data on top jobs for college graduates, internship trends, and co-op opportunities across numerous organizations, degrees, and disciplines. Evaluate your talent recruitment strategy today so your organization can thrive tomorrow!