Higher starting pay for fresh graduates

CNA
14 September 2011

SINGAPORE: Fresh graduates salaries are showing an upward trend this year, according to the Fresh Graduate Pay Survey by global management consultancy the Hay Group.

The findings showed engineering jobs are still in demand and fresh engineering graduates can expect to earn about $2,745 per month.

This is slightly higher than the starting salaries for jobs in the legal (S$2,738) and production (S$2,728) services for fresh graduates.

The survey in July this year drew participation from 100 companies across general industries in Singapore.

It showed that average starting salary for degree holders was S$2,593 per month.

Diploma holders are also expected to fare better this year in the jobs market.

Their average starting pay was $1,799 per month.

Design and creative jobs topped the list of hot jobs for diploma holders who can command slightly higher starting salaries of about $1,900 per month.

The survey said employers place a premium of 44.7 per cent for degree holders over diploma holders in terms of starting salaries.

The premium which employers place on a master’s degree over general degree holders is lesser at 11.1 per cent.

One in four employer surveyed said they pay premiums to male employees who have completed National Service, with the average premium at S$166.