Saturday, August 13, 2011

Fresh Graduates in Singapore Expect Higher Basic Pay

More are expecting higher salaries for their first job in Singapore, according to a survey conducted by Jobs Central Group between May and April among 3255 respondents[1].The respondents are from classes of 2009 and 2016 from the National University of Singapore (NUS), Nanyang Technological Uuniversity (NTU) and Singapore Management University (SMU).

Although most expect their salary to be in the traditional range of $2,500 and $2,999 range, one in three per cent of respondents expect their first basic salary to be in range of $3,000 and $3,499 compared to 27.8 per cent polled last year.

It is not a surprise since the inflation looks like a persistent phenomenon in the coming years and there is near zero unemployment. The expected salary range may look high for an outsider but if you compare it the minimum rent you will pay to a unit in your bachelor's time, 1,500 SGD ++, it is not that high. Singapore is an expensive place so young graduates expect more.

The survey also shows that top employers of choice are Apple again in 2011 as it was in 2010. In 2009 and 2008 it was Singapore Airlines and it was Citigroup in 2007. I find this quite positive since the outdated shine of finance sector with its overpay and bail-out cash to spread of bonuses is replaced by a productive service and then a technology firm of modern times.

As a white collar in his mid career my advise to fresh graduates are to insist to work in a big name company and a large and preferably multinational corporation and put this before the pay check amount.

[1] - MyPaper - Survey: Fresh grads expect higher basic pay

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