top 100 employers and the majors in demand for the Class of 2002, The

Black Collegian, Feb 2002

Even though the nation is still in the midst of a deep economic slump, there are still a number of career opportunities awaiting the Class of 2002. In THE BLACK COLLEGIAN's annual TOP 100 Employers Survey, we have contacted and examined major employers in business, industry, and government to learn where the jobs are so we can help you spot trends in employment that may affect your job search.

The summary findings of this year's survey showcase the following employers with the most projected number of jobs. The ten highest ranked employers of the survey, in the order they finished with projected hires, are Enterprise Rent-A-Car-6.000; Lockheed Martin-3,812; U.S. Air Force-2,181; Wells Fargo Financial1,850; Deloitte & Touche-1,806; U.S. Marine Corps-1,563; Ford Motor Company-1,400; KPMG LLP-1,400; Andersen-554; and Hewitt Associates-542.

Some of the top majors in demand with projected combined opportunities (in parenthesis) for bachelors' and masters' degree recipients are business administration (5,353); accounting (2,970); liberal arts (2,607); marketing (2,601); computer science (1,708); education (1,700); finance/banking (1,290); electrical/electronic engineering (1,173); information technology hIS (805); and mechanical engineering (570).

Several of the leading employers by major are: accounting-KPMG LLP, Deloitte & Touche, and the U.S. Air Force; business administration-Enterprise Rent-A-Car, Wells Fargo Financial and the Sherwin-Williams Company; computer science-Lockheed Martin, the U.S. Air Force, and Hewitt Associates; education-Newark Public Schools, Chesapeake Public Schools, and the Caddo Parish School Board; electrical/electronic engineering-Lockheed Martin, the U.S. Air Force and Advanced Micro Devices; information technology/MISDeloitte & Touche, Andersen and the U.S. Air Force; liberal arts-Enterprise Rent-A-Car, Bank One Corporation, and Wells Fargo Financial; marketing-Enterprise Rent-A-Car, The May Department Stores Company, and 7-Eleven, Inc.; and mechanical engineering-Lockheed Martin, the U.S. Air Force and International Paper.

Specifically, the labor market prospects for the Class of 2002 will not be as positive as they were during the past five years. In fact, the dramatic downturn in the economy which began in January 2001 with the collapse of the IT sector and the year long slowdown in manufacturing caused employers to reduce hiring by 35% to 45% during the spring. Confidence in the economy has weakened from last year, as a result of the September 11 terrorist attacks, and companies are dealing with excess capacity in their ability to provide goods and services. As a result, layoffs during the fall ran ahead of the large layoffs experienced during the early 1990s. According to Michigan State University's annual Recruiting Trends survey, employers will hire 6% to 13% below last year's adjusted levels. Starting salaries will move upward by 1% to 3% with some realignment of the high end of the salary ranges.

Employers expect to have fewer technical positions this year. Engineers and computer science graduates will find positions but will only have single offers. Some opportunities remain for liberal arts graduates as employers continue to seek well-rounded employees who can communicate, think critically and possess strong interpersonal skills. Experts confirm that success is derived from involvement in various activities that are available both on and off-campus such as internships, study abroad, student organizations, and community service.

Good luck!