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The University of South Dakota Business Placement Bureau 1989-90 summary.


Placement of graduates during the summer of 1989 reflected the weakness in economic activity and widespread sluggishness of business, but by fall of 1989 firms were back on campus interviewing students for internships and full-time employment as in previous years. The opportunities for accounting majors was down because of several mergers and a company downsizing by selling off of a subsidiary. The spring 1990 recruiting schedule was typical of past years, but we did experience hiring freezes by some firms. Some of our graduates had more than one offer for employment, but as a general rule, offers for economics and management majors were weak.

The greatest strength for employment opportunity is in the accounting field. The U.S. Bureau of Labor Statistics estimates that demand for accountants will rise 40% by the year 2000 - a faster growth than any other discipline. That means an additional 376,000 accountants will be needed in the next decade. Students with a strong background in business and computer science classes will have excellent opportunities in the business world.

Students looking for employment seemed to be more selective and willing to wait for the job offer they felt met their needs. A summary of the 1989-90 recruiting and placement of students follows.

The School of Business at The University of South Dakota graduated 294 students with baccalaureate degrees and 119 students with master degrees during the 1989-90 academic year. For this same period, 228 students registered with the Business Placement Bureau. The make-up of these registrants was 112 management, 9 economic, 7 health services administration, 75 accounting majors, 18 graduate students, and 7 various other majors.

During the fall semester 1989, 15 accounting firms and 6 other firms interviewed 558 students for accounting internships and/or full-time employment. Sixty-three internship positions were offered with 44 students accepting. These firms represented 20 locations including several nationwide.

Another 28 firms interviewed students in the fall semester 1989 with business management degrees. A number of these firms were interested in students with business degrees and computer science course work. These firms conducted 369 interviews.

Forty-four firms conducted 651 campus interviews in the School of Business during the spring semester 1990. In addition to those firms scheduling formal interviews, approximately 190 firms notified the Placement Bureau of openings.

According to the information we have available at this time, 45% of the August 1989, December 1989 and May 1990 registered graduates have found employment. A small number of students have indicated they are going on to graduate school, law school, the military service, or following their spouse, and others are still looking.

Locations of jobs of the School of Business graduates varied from East to West Coast. Forty-three of these graduates found employment in South Dakota, 14 in Nebraska, 14 in Minnesota, 4 in Iowa, 6 in Texas, 8 in Colorado, 3 in California, 2 in Illinois, and one each in North Dakota, Kansas, Pennsylvania, Utah, Washington and Wyoming.

Of those taking employment the largest number obtained jobs to the accounting field. The next largest employers were in retail and banking/finance. The following tabulation shows types of employment from August 1989, December 1989 and May 1990:

TYPE OF EMPLOYMENT NUMBER Accounting 34 Banking/Finance 17 Computer Science 2 Government 2 Health Field 1 Insurance 3 Retail 28 Sales 8 All Others 8

There was an increase in the average starting salaries for those obtaining employment after graduation. The average salary for Master's and Accounting Degree graduates represents only half of the students reporting their salary. The salary ranges are: accounting majors - from $17,000 to $27,184; management/economic/HSAD majors - from $12,500 to $26,000; master's degree - from $25,000 to $30,000. The following tabulation shows the average salaries for this year and the two previous years by the major of those graduating:

The Business Placement Bureau also handled the internship program. Students had internships during the Fall, Spring and Summer school sessions. The classes for the Spring semester are divided into two eight or nine week sessions (blocks) so that students may work full time during one of the blocks, then take classes for the other block. Students may obtain up to eight hours of credit for a work experience.

Most of the accounting majors spent the first block working from January to March in public or private accounting. The following firms interviewed and placed students during the Spring 1990 semester: Arthur Andersen & Company Charles Bailly & Co. Crayne, Parkinson & Assoc. Crowley & Vogel Deloitte & Touche Eide Helmeke & Co. Peter Kiewit Sons, Inc. McGladrey & Pullen Peat Marwick Main & Co. Pederson & Carlson Henry Scholten & Co. Shull & Co. Williams & Co. Wohlenberg Ritzman & Co.

The following tabulation shows the breakdown of interns during the year by major:

A comparison of the data on job opportunities for the last five years reveals some note worthy points. The best job opportunities were for students majoring in accounting. Approximately 45 percent of the students majoring in accounting find employment in public accounting. Twelve to 27 students go to work for Big Six accounting firms (in 1989-90 we had 12 go to work for Big Six firms), and 10 to 20 for local accounting firms. The remaining accounting majors find employment in private accounting from entry level staff to internal auditing positions.

The business management degree offers opportunities in retailing (26%), banking and finance (16%), government (2%), management (19%), information and data processing (3%), and sales (8%). The majority of the business school majors find employment with regional firms (38%), next are the national firms (34%), and finally local firms (28%).

A number of the requests from employers seeking graduates with business degrees are in accounting and management with an emphasis in computer science. Today's graduates can increase their opportunities for employment by receiving a good background in business and computer skills with software applications.

A recent survey of 15,000 businesses in 475 cities by Manpower, Inc., published in SPOTLIGHT on career planning, placement, and recruitment, October 15, 1990 issue states that:

* Hiring confidence levels for the fourth quarter of 1990 are declining, continuing a year-long downward trend.

* 23 percent of the firms questioned plan to increase hiring activity in the fourth quarter of 1990-down from 26 percent for the same period in 1989-and 11 percent plan to reduce their work forces over those months - up from 9 percent from that time last year. However, these figures do not indicate historical recession levels, according to Manpower.

* Sectors designated as "employment leaders" by Manpower include wholesale and retail trades, public and private education, and service firms, e.g. hospitals, hotels, and advertising agencies. However, in all cases, expected hiring activity is below the levels of the same quarter in 1989.

* Doing poorly are construction - posting its first negative year-end outlook in eight years - public administration, finance and transportation and public utilities.

* In terms of regional outlooks, the Northeast appears the weakest; only 18 percent of employers located there expect to increase their staffs, while 13 percent intend to reduce their work forces. Manpower calls the Midwest "very stable," but says that the South and the West show signs of weakening.

Surveyed firms are the largest employers in their industry categories.
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Copyright 1990 Gale, Cengage Learning. All rights reserved.

Article Details
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Author:Knutson, Denise; Iverson, Gene B.
Publication:South Dakota Business Review
Date:Dec 1, 1990
Previous Article:Working capital management.
Next Article:Trend of business; United States economy; South Dakota economy.

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