Fall 1998
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Fall 1998 |
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Pro athletes aren’t the only ones receiving signing bonuses from their employers these days. So did some May Rose-Hulman grads. Seniors experienced the best job market in 20 years, reports Bill Lindstaedt, director of career services and employer relations. Even though the bonuses didn’t reach dollar amounts received by pro athletes, the incentives along with multiple job offers and a demand that exceeded the supply of graduates in some academic areas were examples of the excellent job market. “It’s been an incredible year,” he said. “The demand for engineers and computer scientists is at peak levels nationally.” The Information Technology Association reports nearly 200,000 high tech jobs are unfilled nationwide. Average starting salaries accepted by May graduates reached $42,137, an eight percent increase compared to last year. Lindstaedt said nearly 40 percent of the electrical and computer engineering, and computer science seniors received signing bonuses of $1,000 to more than $5,000 (those bonuses were not included in the average salary figure). One electrical engineering major had 14 job offers. Ninety-seven percent of the senior class has accepted a job, entered graduate school or accepted a commission in the military as of Sept. 1. Lindstaedt described the demand for new engineers and computer scientists as, “a feeding frenzy.” Campus recruiting was up 70 percent last fall. The number of recruiters strained available campus facilities. “We did a lot of creative scheduling so students didn’t have three company information sessions to attend in the same evening,” he said. Through careful career planning, seniors were also prepared to take advantage of excellent job opportunities. Lindstaedt says students who complete a relevant job experience before they graduate are among the most sought-after seniors by employers. “Three out of four seniors completed an internship or co-op related to their major,” Lindstaedt pointed out. “Recruiters noted that this sets Rose-Hulman students apart.” Another trend is that small, emerging growth companies are successfully recruiting the top Rose-Hulman seniors, according to Lindstaedt. “I think this is the ‘big fish, small pond’ effect at work,” he explained. “Small companies are a natural fit for our graduates who want to make an impact early in their career. The small, personalized atmosphere at Rose-Hulman prepares students to be effective in a small, high-tech environment where expectations are high, workload is heavy, and every engineer wears multiple hats,” he said. The 1999 graduating class should also experience an excellent job market, Lindstaedt believes. “The number of technological positions now unfilled at companies means that even if current economic growth slows, many companies will continue to recruit entry-level engineers to fill unstaffed positions.” The number of company recruiters already scheduled to visit Rose-Hulman this fall confirms Lindstaedt’s prediction. “There are already days we’ve got twice as many companies represented as we have interview space. “We’ll be putting recruiters in every nook and cranny we can find!” Seventeen companies have made reservations to participate in Rose-Hulman’s annual Career Fair even though invitations to recruiters haven’t even been mailed yet. The Career Fair, normally held in January, has been moved to December because an increasing number of seniors are accepting jobs earlier in the recruiting season. Lindstaedt had the following advice for Rose-Hulman alumni about how they can help their companies recruit Rose-Hulman talent. “In a survey I did this year, students insisted that the best companies used recruitment programs to build personal relationships with them. Lindstaedt said alumni should reach out to a talented senior and encourage them to apply for positions in their company. When companies ask Lindstaedt for advice about their campus recruitment strategy for this year, the first thing he tells them is, “Start early!” — by David Piker
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