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Entry level jobs: 8 Things You Need to Know

Wondering how the entry level jobs market is shaping up for new college graduates?

Here's the good news: more employers expect to be hiring college grads than last year.

That's one of the take-home messages of a new comprehensive survey of jobs for college graduates that Michigan State University conducted. The annual survey, which is the biggest of its kind, surveyed 4,600 employers about their hiring prospects.

Here's what the survey says about entry-level jobs for new college graduates:

1. Hiring for students with undergraduate degrees and MBA's should increase 10%.

2. Hiring will be driven by a core group of employers in manufacturing, professional services, large commercial banking and the federal government.

3. Large companies, with at least 4,000 employees, typically plan to hire 114 bachelor-level employers per company next year.

4. Prospects are grim for mid-size companies, which employ anywhere from 500 to 3,999. They will continue to shed jobs.

5. Large corporations now hire about 50 percent to 75 percent of new employees from their own intern pool.

6. Among the fast-growth companies (nine to 100 employees), hiring is expected to increase 19 percent.

7. The biggest job hot spot for graduates with bachelor's degrees is the Great Lakes region, which got hammered during the recession. Hiring is expected to jump 13% there. The Mid-Atlantic region is also promising -- hiring it expected to jump 10%.

8. The average salary for a new graduate with a bachelor's degree will be $36,688. That's down from $46,500 two years ago. Not sure how students are going to pay off their college loans with that kind of salary.

Read more on CBSMoneyWatch:

Top 20 Best-Paying College Degrees in 2010
Lynn O'Shaughnessy is the author of The College Solution and she also writes for TheCollegeSolutionBlog.
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