October 9, 2007
Good News for Computer Science Grads -- Sort of
Starting salaries for college graduates with computer science degrees are up, hitting their highest levels in seven years, according to a recent survey. But midcareer workers at big employers may face layoffs and “restructuring.” These two trends are somewhat connected, unfortunately.
The National Association of Colleges and Employers reported last month that the average salary offer to a computer science graduate was $53,051 in 2007, up 4.5 percent from last year. Students graduating with management information systems degrees received average starting salaries of $49,966, up 5.9 percent from last year.
Employers face a shrinking labor pool, since the number of computer science graduates has dropped significantly since the turn of this century. Laws of supply and demand apply, so companies compete harder and pay more for a smaller supply of qualified graduates.
That’s the good news. But as companies pay more for new workers, and struggle to compete in a crowded marketplace, midcareer workers with larger salaries become a tempting target for budget-cutters. Computerworld reports this week on major staff cuts at Intel and Sun Microsystems, and pressures for staff reductions elsewhere.
So computer science still seems like a tricky career arc. People are in demand fresh out of school, but may become more vulnerable as they gain seniority. —Josh Fischman
Posted on Tuesday October 9, 2007 | Permalink |Comments
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Just tell your children to major in something else. IT is not a viable long term career anymore. If you aren’t replaced by someone younger and cheaper, you will be replaced by someone offshore (and cheaper).
— Sam Oct 9, 03:29 PM #
Agreed Sam – Offshoring and outsourcing are very common. IT majors should work as consultants first to see what is on the other side then get a stable career. At least they’ll know what to expect. It’s still a good place to start with high starting pay, though.
— John Oct 10, 07:29 AM #
Are a systems person, or an algorithm person? Systems people, save for analysts and architects, can easily be replaced by cheaper labor and code generators. Algorithm people are less stratified by title and more by raw genius, so if you’re not close to savant, you’re liable to be trimmed at the next round of layoffs. You take a chance either way.
— Eugene Oct 10, 11:30 AM #
The day of getting a career for life is all but gone. Instead aim at getting an education and continue to upgrade your skills. Doing so will make you especially competitive over the years in this fast paced discipline. And, you’ll earn good money as well.
— Tim Oct 10, 12:15 PM #
Tim is right- assuming you’ll do generally the same thing for a lifetime isn’t realistic in the current global economy. Even doctors and lawyers have things to worry about in the future…
— James Oct 10, 04:11 PM #
Major in something useful like computer science or electrical engineering etc. You can do anything or go to any type of grad school with a tech/engineering background. As scary as the tech/engineering job market might be…can you imagine how pathetic the job market is/and pay is for someone with a history degree?
— BCDED Nov 4, 12:20 PM #