People in powerful positions often have access to the best information.
Minnesota high school students now have the ability to expand their power base. When they are agonizing over technical school and college choices, they can now look at marketplace data that show which academic programs have high placement rates and what recent graduates are being paid.
For the first time in its history, the Minnesota Department of Employment and Economic Development (DEED) is making this information available to the public on its website.
The data reveal a pattern of underemployment among recent graduates. For the Class of 2011, among those completing programs ranging from certificates to graduate degrees, by their second year out of school, only 42 percent had full-time jobs that they kept for a whole year.
But the most intriguing statistics are the wage breakouts among academic programs. Here are some of the highlights for the Class of 2011 two years after completing their education:
- Among students who earned bachelor’s degrees in marketing, 52 percent had full-time jobs and 31 percent were working part-time. The median annual salary for full-time employees was $35,373.
- Among bachelor’s graduates with general business degrees, the median annual wages for full-time employees were $57,227. In this major, 59 percent were employed full-time and 21 percent were working part-time.
- Those with special education and teaching degrees at the bachelor’s level had annual median earnings of $35,312.
- Technical education translated into good-sized paychecks for people who completed certificate programs or associate degrees. For example:
- Annual median earnings were $44,196 for full-time workers who obtained associate degrees in electromechanical instruments and maintenance technology. In this program area, 60 percent held full-time jobs in their second year out of school.
- Plumbing program graduates also saw high job placement. Among students who completed certificate programs for plumbing, the annual median earnings for full-time workers were $41,229. Forty-five percent were working full time and 42 percent were employed part time in the second year out of school.
The Minnesota Legislature passed a bill requiring DEED to take the wage and employment data that the state receives from employers and present it to state residents in a format that’s easy to use. Called the “graduate employment outcomes tool,” people can use drop-down menus on the DEED website to look up wage and placement data by academic program.
Check out the site.