College Graduates Future

           Every year thousands upon thousands of college graduates enter the professional world eager to start working. However an important dilemma faces most, what is a reasonable starting salary? With the workforce dynamics consistently changing, and organizations starting to experience in a shortage in skilled labor, new college graduates face a multitude of factors upon entering the employment world. 
          The increase in starting salaries has several consequences; firms now have to discover ways of dealing with the boost in overhead costs. In several instances, this might result in greater expenses to the customers. Furthermore, the increases in starting salaries can also lead to a distortion of compensation for the rest of the organization. Secondly, professions that are currently seeing a significant pay increase in offer packages will eventually become more sought after and then this will create another “wave” effect as those fields will see an increase in enrollment. Changing expectations of future potential earnings influences growth and enrollment into a specific field of study. This creates a cyclical effect on the overall job market. 
This continuous change in enrollment and its effects on the candidate pool can be witnessed in the IT professionals industry. Since the dot-com bubble burst earlier this century, the enrollment into IT programs across the nation dropped. Now companies are starting to feel the need for talented IT specialists and this is creating an upward pressure on salary increases. The business environment also plays a significant role in the salary trends. For instance the financial fiasco caused by Exxon, Tyco, and Worldcom lead to the development of the Sarbanes Oxley act. This in turn has lead to an increase in demand for accountants and auditors. Currently accountants can expect a salary between $38,000 and $42,750 
Work Cited:
Millennial College Graduates: Young, Educated, Jobless
http://www.newsweek.com/2015/06/05/millennial-college-graduates-young-educated-jobless-335821.html