It's that time of year again: Thousands of young men and women are donning caps and gowns and starting the long slog to retirement.
Fresh graduates are hitting the job market as student-loan defaults soar and policymakers struggle to lower unemployment. But there is at least some good news on the salary front.
The average offer for those getting bachelor's degrees this spring rose to $50,462 a year from $47,673 a year ago, a 5.9% increase, according to an annual survey by the National Association of Colleges and Employers.
And the market is particularly hot for economics majors, who are drawing salaries almost 10% higher than the average this spring, $54,634.
As for employers, investment banks were fairly spendthrift. No surprise there. Sales and trading desks are forking out $65,381 per greenhorn, up 8% from last year.
While public accounting firms are getting a value play, offering $46,323 for newly minted grads, almost $3,200 less than last year.
The association, however, didn't break it down by the hour. That $65,381 is going to look pretty slim to Wharton whiz kids polishing pitch books at 3 a.m.
Company Logo Tattoo (FINS)
Your job is your life, so why not get a tattoo of the company logo? I can think of a lot of reasons, but some folks do just that.
What Would You Do?
Answer the question and see how you match up with the rest of the FINS community.
You've just been offered your dream job, but... you must get a tattoo of the company logo.
Sign ...or... Decline
Who Wants to Be Buffett? (SmartMoney)
Runing Berkshire Hathaway ain't all ice cream bars and cozy chats with Andrew Ross Sorkin. As succession talk heats up, SmartMoney breaks down why it's not easy being the Oracle of Omaha.
Commodity Cashout (FT)
The Glencore IPO values CEO Ivan Glasenberg's stake at $9.6 billion -- that's with a "b." Glasenberg owns 19% of the company, but has vowed not to sell shares while he works there.
Continental Compensation (FinancialNews)
Goldman workers in Europe earned, on average, twice as much as their colleagues at the rest of the firm last year, according to new numbers from the bank. Almost 6,000 of them pulled down an average salary of $819,000.
110% -- No Really (Kottke.org)
At least one economist has explained how it's possible to give 110%. Now, if he'd only tackle why the Kentucky Derby is "the fastest two minutes" in sports.
Achtung! (Bloomberg Markets)
Here's everything you ever wanted to know about Stefan Krause. Who's Stefan Krause you say? Possibly the next CEO of Deutsche Bank.
Bond Boss (BusinessWeek)
UBS reportedly has its eye on Eric Rosen to head U.S. credit trading. Rosen left a similar job at JPMorgan in January 2010.
Another UBS Refugee (Bloomberg)
Citigroup has allegedly hired Kevin Cox, former head of Americas i-banking for UBS. Cox has done quite a bit of M&A work with industrial companies.
Batter Up (WSJ)
Although I've never seen him at a WSJ softball game, Jason Gay has some tips on how to handle this time-honored tradition with grace. Don't wear a full uniform and don't bunt, he advises.
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