Grads gain the advantage

Regardless of industry, almost 90 percent of the companies surveyed by NACE reported more competition over new grads this year, and more than 20 percent said they planned to increase starting salaries to make job offers more attractive.

"In a more competitive environment, companies want to sweeten the pot a little bit," says Stacey Rudnick, director for MBA career services at the McCombs School of Business at the University of Texas at Austin. She is seeing more signing bonuses this year than last, with companies putting more on the table to lure top candidates. Consulting firms, for example, are offering an average signing bonus of $25,000 to $30,000 for McCombs MBA graduates this year, compared with $20,000 to $25,000 last year, Ms. Rudnick says.

"That will even filter down to some signing bonus potential for top [undergraduate] performers," says Challenger. Tuition-reimbursement programs appear to be more common this year, too, he adds. "For example, a company might say 'If you stay here for three years after you graduate, we'll finance your MBA.' "

Mostly, though, competition for grads means higher starting salaries. Employers raised starting salary offers for accounting grads by 5.4 percent this year to $46,188, according to a separate survey by NACE. Liberal-arts graduates can expect average starting salaries of $30,958, which is 2 percent higher than last year's.

The increase in opportunities doesn't mean grads can afford to be lazy about the job search, career experts maintain. Although online job searching is a useful tool, job seekers still need to venture out and press the flesh. "In order to actually get the job, you have to use your network," says Pat Garrott, associate director of Purdue University's career center.

Of course, a good job market also doesn't solve the perennial problem of figuring out what one wants to do. "Most people don't even know what they want or what they're looking for," says Lillian Kang, a University of Kansas economics major who graduates later this month. While Ms. Kang will work as a financial adviser at the Highpointe Financial Group in Leawood, Kan., she says she's the only person she knows who already has a job lined up.

"Everything I've worked for has pretty much led up to being a financial adviser," she says.

1. Don't delay your job search. "Even if you're anticipating taking a little trip after graduation, plant the seeds now," says Richard Wahlquist, president of the American Staffing Association, which represents temp agencies and placement firms across the country. "This is the peak employment season."

2. Build a peer network. Grads should collect contact information from fellow students before getting their diplomas. "That's a fabulous network that they'll have the rest of their lives," says Susan Joyce, editor of Job-Hunt.org.

3. Watch your electronic 'footprint.' Search engines like Google are great, but they also make it easy for potential employers to find "all of those nasty notes on blogs and dumb stuff in online profiles," Ms. Joyce says. "Be very careful with [what you write in an] e-mail, particularly e-mail to large groups - such as e-mail distribution lists for job seekers."

4. Be wary of bogus job sites. People tend to put too much sensitive information on their résumés and then circulate them widely over the Internet, Joyce says. "If a website wants you to register before you see any jobs, run in the other direction."

5. Consider temping or volunteering. If you lack work experience, a consultative visit at a staffing agency can help, says Mr. Wahlquist. "It's free, no obligations, and they have their finger on the pulse of the local job market every day." The fall election presents opportunities to volunteer. "It's a way to meet people and demonstrate what you can do," Joyce says.

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