Phi Beta Cons

The Right take on higher education.

The Economic Outlook for the Class of 2008


The Wall Street Journal paints a bleak picture of job opportunities for the class of 2008:

As the credit crunch roils financial markets and the U.S. economy sputters, new college graduates are plunging into the rockiest job market in recent years.

The bleaker picture is in stark contrast with last year, when colleges and employers reported robust hiring, and students in finance, accounting and other hot fields were choosing among numerous offers. Now, companies that just a few months ago were planning substantial increases in entry-level hiring have scaled back their plans as economic conditions have worsened. In turbulent areas such as financial services, some firms are slashing the number of fresh graduates they intend to employ, and students are curtailing expectations of finding their ideal position.

The article also has an up-to-date chart of average starting salary broken down by major (hint: tell your kids to be engineers).


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