Edvantage - Higher salary expectations for fresh graduates this year

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Higher salary expectations for fresh graduates this year

Edvantage | Thu Aug 5 2010

Grads are expecting almost $3,000 as starting pay this year.

With the economy doing better this year, salary expectations among entry-level graduates from local universities are higher than before.

According to a survey conducted by campus recruitment agency JobsFactory this year, The average expected monthly basic salary as stated by respondents was $2,923, up by $118 from $2,805 last year.

Top graduates who obtained at least a second class upper honours degree said they expected basic salaries of at least $3,089, which represented a 4.9 per cent increase from last year.

The survey also revealed that 75 per cent of fresh graduates are open to accepting contract-based job offers.

In addition, technology giant Apple has nudged out Singapore Airlines (SIA) to be the private employer of choice among fresh graduates this year. It received 45 per cent of the votes received in the survey, beating companies such as SIA and Google, which came in second and third places this year respectively.

According to a statement by JobsFactory, the results could be due to the brand's increased presence in Singapore, strengthened by the recent popular launches of the iPad and iPhone4.

Local banks also made their presence felt in the survey of the top 10 private employers of choice. Local financial institution DBS Bank led the pack in fifth position, while Deutsche Bank, Citigroup, Barclays Capital Global Services and JP Morgan Chase & Co. also made it to the top 10.

In the survey of top government or government-linked employers, the Singapore Tourism Board (STB) continued to top the rankings for the third year running. It was followed by the Economic Development Board and the Ministry of Education (MOE) in second and third places respectively. The National University of Singapore came in fourth, while the Defence Science and Technology Agency (DSTA) landed in fifth position.

Most government bodies related to the financial industry also fared better this year, with the Ministry of Finance leaping five spots to number seven in the survey.

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Keywords: salary , pay , fresh graduates

Readers' Comments

A few years back, some of my Thai friends were making between 15,000 Bahts to 20,000 Bahts as professors in Thai universities.

Posted by joelee on Fri, 06 Aug 2010 at 20:10 PM

Dear sir,

Why aim to be just an employee? Aim to be a leader. Run your own business, Company, firm or maybe the little red dot?

In this case, if you are the leader of the little red dot. You make many times of 3K. So it is still possible to make 3K and above.

Go for it ! You can do it. We need YOU

Posted by EliteTeam on Fri, 06 Aug 2010 at 12:31 PM

That's reason why I decide to invest in Thailand where a mechanical engineer fresh from the university is only B15,000 (SD680). I have a accountant who has a bachelor degree and she does the full financial accounts and she is paid about SD620/month. Obviously, Thailand and Singapore are 2 extremes in terms of living costs and therefore relative. It begs the question of whether the government policy of pushing the per capital higher can improve its citizens standard of living. It looks like the weathy will benefit more with this policy while others struggle to just cope with life.

Posted by Straightview on Fri, 06 Aug 2010 at 12:28 PM

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