By S Ramesh | Posted: 30 July 2012 1419 hrs
SINGAPORE: Global management consulting firm Hay Group believes that despite sentiments of a slowdown emerging in the global economy, fresh graduates will fare better this year, with employers in Singapore offering a higher base salary compared to their 2011 cohorts.
According to the Hay Group’s Fresh Graduate Pay Survey 2012 conducted in June, the average starting monthly pay for degree holders without honours is S$2,678; S$2,766 for those with Honours (Second Lower and below); and S$2,882 for those with Honours (Second Upper and higher).
79 companies across general industries in Singapore took part in the survey.
The results showed that jobs in engineering ranked at the top, commanding the highest average starting salary of S$2,777 per month for degree holders (without honours). This was followed by jobs in research and development (S$2,764 per month) and merchandise operations (S$2,742 per month).
For diploma holders, jobs in merchandise operations commanded the highest average starting salary of S$1,934 per month, with design/creative jobs coming in second (S$1,915 per month) and jobs in research and development following suit (S$1,903 per month).
The average starting pay for diploma holders is S$1,866 per month.