Salary Increases Expected in 2008

For several months now, we have heard about how the economy and job market has been suffering. However, the New Year always brings hope of new beginnings. Fortunately, 2008 is no different. In fact, the coming year is promising a surprising bonus for fresh graduates looking to secure a job.

So what’s the big news? In 2008, starting salary rates are expected to increase across the board. Whether you are looking to earn your associate’s degree or a master’s degree, your wallet should enjoy a bit of a bulge in the coming year. In recent projections, 8 out of 10 employers expected to increase salaries for new employees in 2008. Majority of those companies surveyed considered an accredited degree as an essential factor for this shift in pay.

Upon graduation, many job applicants underestimate the value of their degree and the message it sends to potential employers. For one, a degree, whether a traditional or online degree, speaks to an individual’s commitment to education and willingness to stay atop the latest trends in their particular field. Furthermore, the completion of a degree proves an individual is organized, able to work with long-term and short-term goals, and able to maintain deadlines. However, a degree also highlights a sense of personal growth in which a graduate has endured in order to achieve their degree.

Online education, however, offers students’ unique opportunities to refine many of the skills required in the work place. For example, communication plays a fundamental part in the business environment. In the online classroom, students are asked to participate in a variety of tasks, including: in-class discussion, group projects, and live chats. By doing so, students are engaging in the same mediated forms of communication that take place in the business world. Students, therefore, become aware of how to communicate through distance and virtual communications formats with a higher degree of clarity, accuracy, and effectiveness. Moreover, students gain a familiarity with technology that can be absent from the traditional classroom.

The projected salary hike for new graduates does not limit itself to any one degree type. In fact, graduates of all levels—from associate to doctorate—are expected to see salary increases. For example, a newly graduated individual with a bachelor’s degree is expected to earn a 4.6 increase in 2008. Master’s degree graduate have much to celebrate as their percent increase is among the highest with an expected 5.2 percent growth.

Naturally, the field in which you choose to pursue affects the starting rate of your salary. An electrical engineer’s starting pay rate would be different than that of a teacher’s beginning salary rate. Location can be another factor influencing an individual’s salary. An urban area may offer a greater number of job opportunities in a particular field; however, a less populated area may offer a higher rate of pay in order to attract qualified candidates.

While these numbers can vary based on several factors, the above figures reflect a general look at the job market as a whole. What is known is that pay increases are predicted for the future. In order to remain competitive in this field, an accredited degree may be required.

To learn more about earning a degree, check out these online, accredited degree programs.