InformationWeek

The Stanford Computer Forum, which links students to Stanford University industry affiliates, has noticed a precipitous drop this spring in the number of students inquiring about jobs, says a spokeswoman. Instead, the students are posting their resumés either on the Web or with the computer forum and leaving it up to companies to make the first move.

Scott Timmester, a recent University of Virginia graduate, never had to pound the pavement to secure his job as an E-business consultant trainee for Trilogy Software. The 23-year-old aerospace engineering major's first step was the university's on-campus interviewing process, which uses the JobTrak online database. He posted his resumé at the site and let companies come to him. He also used CollegeHire.com. "My job hunt was easy and exciting," says Timmester.

Although Timmester declined to reveal the size of his compensation package, he says it's "extremely competitive." Like many recent graduates, Timmester says he was drawn to his new employer by the work environment. Among the perks: "entrepreneurial and exciting people, the opportunity for growth within the company, and the expected growth of the company itself," he says.

Students and recruiters say the most seductive recruitment tool is the promise of challenging work, and this is an area where dot-coms have a leg up over large companies and consulting firms. But the promise of potentially lucrative stock options is also a lure. "Dot-coms are playing on everyone's desire to hit a home run with a startup and retire before they're 30," says 26-year-old Sterling Garretson, who worked in the mergers and acquisitions department at consulting firm Arthur Andersen before starting her own E-commerce business in Mountain View, Calif.

Traditional companies "are having a hard time because of the huge demand and shortage of graduates," says A. Richard Newton, professor and chairman of the electrical engineering and computer sciences department at the University of California at Berkeley. "It would be a big problem even without the dot-coms. They just make it a bit worse."

Larger companies play the stability card and remind prospective employees that they have longevity, whereas the dot-coms may be here today and gone tomorrow. Royal Caribbean Cruises Ltd., a $2.5 billion cruise-line company in Miami, touts its stability when recruiting new graduates to its 300-person IT staff. "We don't pretend to compete with the dot-coms. We don't offer stock options, but we offer opportunities and growth," says Jay Rombach, human-resources manager for the IT division. "As far as Royal Caribbean being a tough sale, it is for some. But there's a large group of people who want to work for a large corporation."

And even though much has been made about dot-coms, many IT professionals work for traditional companies with large and growing IT departments. And that's where most of the jobs will continue to be found.

Estrada's $76,000 salary notwithstanding, most entry-level graduates with bachelor's degrees in IT and related fields are commanding salaries between $30,000 and $50,000, depending on the region of the country, according to recruiters. Salaries and offers are on the high-end of the range for young IT professionals who graduate from a prestigious school with a high grade-point average. "Computer-science and software-engineering students from the top schools--the top kids--are getting multiple offers," says Carnegie Mellon's Florida. "Everyone's scrambling for top talent from Carnegie Mellon, Stanford, Berkeley, Cornell, and similar high-profile schools."

With the increase in business-to-business and business-to-consumer efforts on the Internet, a young, multi-talented professional--rock-solid technical skills, business acumen, good communication abilities, and an understanding of an industry sector--will bring in perhaps another $10,000 or more above the average salary range, says ITAA's Miller.

Yet not every company places huge importance on a high grade-point average and educational pedigree. "Obviously, we want someone who has succeeded in school," says Royal Caribbean's Rombach, "but we don't require a certain grade-point average. We want someone with a passion for their work."

What do companies expect from new graduates? Most IT managers look for hires with some knowledge in many areas, and the ability to learn quickly. "We look for talent, rather than a particular skill," says Phil DeKok, training and sourcing manager for Lands' End Inc. in Dodgeville, Wis. The 37-year-old clothing retailer selects a handful of new hires each year from the state university system. It helps that the $1.32 billion company, which has a 235-member IT staff, has been lauded as one of the best places to work by a number of publications.

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