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  • techpath2000 techpath2000 Nov 21, 2012 10:07 PM Flag

    When Boeing lowers SPEEA members wages and benefits to market average

    From Newsweek: At its worst in September 2009, the unemployment rate for engineers reached 6.4 percent, versus nearly 10 percent for all occupations. By the middle of last year, it had dropped to under 2 percent.

    Job prospects for engineers "are really good, especially for young ones," says Lawrence Jacobson, executive director of the National Society of Professional Engineers in Alexandria, Va. He and other industry watchers see demand across the board, especially in electrical, biomedical, aerospace, computer, automotive, environmental, mechanical, and petroleum engineering.

    Having been on several hiring teams during the last month I can attest that the binders and binders don't turn out to have that many prospects because 1) the vast majority are not qualified for the engineering jobs and 2) the ones that are have already been hired.

    Boeing had to change their hiring process to give managers on the spot authority to hire because they were losing too many good prospects because it took so long for the bureaucracy to process the acceptances.

    Also, Boeing has stopped trying to hire at top tier universities because the offers were not competitive. The new list of "emphasis" schools is mostly second and sometimes third tier. Not to say there are not good people there but they are deliberately trying to get bargains instead of going after the best. That's going to catch up with Boeing eventually.

    It is highly unlikely that Ed Wells would be hired with the current system.

    Sentiment: Buy

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