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Show Pay For June Grads: Engineers Get High Pay; Banking And Finance Tow' (Editor's note: This is the second sec-ond in a three part series on the prospects for this year's June graduates.) WASHINGTON (CPS) Pity for the engineering major, seemingly swamped with endless end-less work for four years of college, turns to envy in June. ACCORDING to the College Placement Council, the largest salary for June graduates again this year will go to students holding degrees in aeronautical aeronaut-ical and electrical engineering. For most graduating in these two categories, monthly in come will zoom to $621 when they get their first jobs. At the other end of the scale were graduates starting out in banking finance and insurance where salaries were averaging averag-ing $445 a month. The study was based on Interviews conducted last December. While engineering jobs remained re-mained on top, salaries increased increas-ed only 2.5 per cent over a year ago. Compared with these .small percentage gains, offers of jobs in marketing and distribution dis-tribution were 5.6 per cent above the previous year although al-though salaries averaged only $491 a month. HUMANITIES and social sciences sc-iences graduates are facing an average starting salary of $483 a month less than 1 per cent more than in 1962. In terms of type of employer of graduates in all curriculums, the starting level averaged highest in aircraft, space vehicles ve-hicles and components at $620 a month close to the aero- nautical and electrical engineering engi-neering range. MERCHANDISING and relating re-lating jobs also were low on the list at $461 a month average. aver-age. The level for banking, finance and insurance was below be-low a year ago, while merchandising mer-chandising was up 2.9 per cent during the year. Technical graduates, in general gen-eral terms, drew average offers of $610 a month, up 2.5 per cent, while non-technical graduates grad-uates were offered $509 a month, up 1.8 per cent. THE LARGEST boost for masters degree holders went to chemical engineers who were offered $732 a month. The highest average offer for those with masters degrees was $777 a month for electrical electri-cal engineers, compared with $751 offered in the previous year. With a non-technical undergraduate under-graduate degree, masters degree de-gree holders in business administration ad-ministration or commerce can expect about $620 a month starting salary compared to $608 last year. But of the master's degree was preceded by a technical undergraduate degre, business bus-iness administration or commerce com-merce graduates can expect about $688 a month a drop from last year's $892. Researchers have noted a demmishing rate of increase. in all salaries when compared to boosts over the recent years. WHILE wages for accounting account-ing graduates have been accelerating accel-erating in past years, they increased in-creased only $2 during the past 12 months. A norminal $15 increase by aircraft and aerospace employers employ-ers also indicated a slowing trend. Both technical and nontechnical non-technical students experienced experienc-ed overall gains of less than half as large as the previous year. Among employers making a large number of job offers, the automotive group paid the largest salary increase a jump of $28 to 598 a month. Chemicals Chem-icals and. drugs followed with a $25 boost to the $605 level. Public utilities continued their pronounced upward trend with a hike of $24 a month to an average starting salary of $585. CONSTRUCTION and building build-ing materials manufacturers, offering few jobs this year, dropped salaries by $19 a month to the $529 level. Banking, Bank-ing, finance and insurance dipped dip-ped $5 to $445. Other average salaries being be-ing paid to starting college graduates include: Electrical machinery and equipment, $601 ; electronics and instruments,$603; food and beverage processing, $ 5 1 2; glass, paper, packaging and products, $570; metals and metal products $584; petroleum and products, $581; and tire and rubber, $580. |