This median annual wage for business and financial occupations was $72,250 in May 2020, which was higher than the median annual wage for all occupations of $41,950.īLS provides summary data, including employment projections, for business and financial occupations not shown in the table on this page.
In addition, increasing usage of data and market research in order to understand customers and product demand, and to evaluate marketing strategies, will lead to growing demand for market research analysts. Globalization, a growing economy, and a complex tax and regulatory environment are expected to continue to lead to strong demand for accountants and auditors. The Job Outlook 2017 report is available at or through the MyNACE area at in business and financial operations occupations is projected to grow 8 percent from 2020 to 2030, about as fast as the average for all occupations, adding about 750,800 new jobs. A total of 169 surveys were returned-a 17 percent response rate. Of interest: Last year, nearly 42 percent of those cutting back cited the downturn in the oil and gas industry as a contributing factor, but just a handful of current respondents made note of that.ĭata for the Job Outlook 2017 survey were collected from August 5, 2016, through October 4, 2016. Some of those reporting plans to decrease their hiring numbers cited hiring freezes and business conditions, but others indicated that they hired large numbers of graduates in the past few years, and simply don’t need to hire as many in 2016-17. A small group of respondents that will maintain their numbers did mention budget constraints, but expect to keep hiring new graduates at the same level. Most of these organizations indicated that they are experiencing a stable work force and consistent work load, hence the reason for neither increasing nor decreasing their hires. The largest group of respondents that are maintaining their hiring levels also pointed to company growth, which is encouraging. Some respondents noted that they are molding these new hires to become the future leaders of their organizations. Employers also cited the importance of building talent pipelines with new college graduates as a catalyst for increasing college hiring. Most of the respondents that are increasing their hiring numbers are doing so because of company growth, as there is an increased demand for their products and services. On a positive note, the difference is made up by the majority of employers who anticipate keeping their hiring levels even with last year’s levels. This marks the fourth consecutive year of that trend.
Overall, fewer respondents to the 2017 survey anticipate hiring more new college graduates than was the case a year ago: 36 percent versus 40 percent. (See Figure 1.)Įxploring the individual hiring plans of respondents provides insight into the flat hiring market for new college graduates. While employers initially anticipated hiring 11 percent more Class of 2016 college graduates, they ended the cycle instead with a 5.2 percent increase.
JOBS OUTLOOK 2016 UPDATE
This current projection is in line with final projections employers reported for last year’s graduates in the Job Outlook 2016 Spring Update survey. openings for Class of 2017 graduates is expected to be relatively flat, according to results of NACE’s Job Outlook 2017 survey.Įmployers indicated plans to hire 5.8 percent more new graduates during 2016-17 than they did in 2015-16 for their U.S. Spotlight for Career Services Professionals
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