Well, at least in the case of electrical and mechanical engineering, no company can survive burning through grads so fast. For one thing, the number of engineer

Well, at least in the case of electrical and mechanical engineering, no company can survive burning through grads so fast. For one thing, the number of engineers available is more limited, because of the (relatively) reduced sexiness of those fields. Also, if your product has to work for 10, 20, maybe 30 years, you have quite an incentive to retain the people that know it in detail in order to cope with the inevitable non-trivial long term support issues.