High salaries, signing bonuses greet nursing grads

SAN FRANCISCO, California (Reuters) -- The fat salaries and signing bonuses being thrown at college graduates just a few years ago have all but disappeared -- unless you are a nurse.

The San Jose Mercury News reported that while many graduates seeking work in business or high-tech are taking low-paying, low-skilled jobs and moving back in with parents, those graduating from nursing school are being offered starting salaries of up to $65,000 plus generous signing bonuses of as much as $5,000.

The report said hospitals remain one of the few work places grappling with a labor shortage, as many other businesses have been forced to delay start dates for new hires, or even rescind offers altogether.

The Mercury News is the hometown paper of Silicon Valley, the center of the high-tech boom that just a few years ago was so hot that even inexperienced recent graduates were able to negotiate hefty stock option packages and signing bonuses.

"The power has shifted to employers for the first time in a decade," the paper quoted Irene Peck, a San Jose State University career consultant saying.

The report said other job sectors still seeing limited demand for new workers included pharmaceuticals, biotechnology, computer security, government and other areas of healthcare.

But it said many of those just entering the work force had to compete not only with other recent graduates but with more experienced workers who are now unemployed.

Copyright 2002 Reuters. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.