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Monday, 12 March 2012

Class of 2011 SMU graduates' salary at record high: survey

SINGAPORE: The Education Ministry has published the results of the 2011 Graduate Employment survey, which polled 12,998 graduates from the three public-funded universities.


Graduates from the Singapore Management University's (SMU) class of 2011 earned an average of S$3,388 a month from full-time employment, a record high since 2004 when SMU's first batch of graduates entered the job market.

This is an increase of about 3.6 per cent over the previous year's average gross monthly salary of S$3,271.

In its annual graduate employment survey, SMU said the top 20 per cent of the 2011 cohort commanded an average gross monthly salary of S$5,039.

SMU produced 1,231 graduates in 2011.

According to SMU, six in 10 graduates had job offers even before they graduated.

62 per cent of them had multiple job offers, with two to eight offers per person.

Overall, 95.6 per cent of SMU graduates found jobs, and they reported higher starting salaries across five of the university's degree programmes.

Graduates from its Information Systems Management topped the list, drawing an average of S$3,637 per month, up by 4.7 per cent.

Those with cum laude or better - cum laude refers to students with cumulative Grade Point Average of between 3.40 and 3.59 - earned an average of S$4,294 per month.

SMU's economics graduates who achieved cum laude or better earned a average gross monthly salary of S$3,999, an increase of 11.7 per cent compared to the 2010 cohort.

For the National University of Singapore (NUS), law graduates from the 2011 cohort made an average of S$5,037 per month, while medical graduates from NUS' Yong Siew Toh School of Medicine earned an average of S$4,016 per month.

At the Nanyang Technological University (NTU), graduates from its engineering college topped the list.

Computer engineering graduates earned an average of S$3,577 per month, while aerospace engineering graduates took second spot at S$3,489 per month.

- CNA/ck

3 comments:

  1. In my opinions, fresh grads working in the finance sector are overpaid. I mean $5k starting salary? I being working as engineer for 7 years and now works in the government. My salary arent nowhere near $5k.

    ReplyDelete
  2. @Greatsage

    I find your assertion difficult to accept. Would you then assert that fresh Law graduates who are remunerated 5k/mthly to be 'overpaid'? Its a function of the value that they can provide to the firm. If the finance/law graduate can pull in $2X of value to the firm while engineers can only bring in $X, then definitely they will be paid better relative to the engineer. This is not even bringing into the picture of demand and supply of such graduates. Do note that there's a lot more engineering students then there are finance [just considering the local universities, not private.]

    Also consider their working environment. For the finance graduates ... their life is hell. Demanding bosses, crazy deadlines, insane competition among peers. One poor showing and they are down and out. Whither the engineer's life? I do believe that its nowhere as competitive, some even say its rather stable.

    Lastly, do appreciate how Singapore is positioned. We [actually, the Govt] aim to be a finance hub. As such, the emphasis would be to boost the banking scene. If the Govt wanted Singapore to be a engineering hotbed, then you'll see that the engineer's salaries would be sky-high. Because employers have to pay the 'market rate' for such talents.

    I don't wish to put down your opinions but frankly, I'm had enough of engineering graduates lamenting their pay.

    ReplyDelete
  3. Quote: "In its annual graduate employment survey, SMU said the top 20 per cent of the 2011 cohort commanded an average gross monthly salary of S$5,039."

    I think it is normal that top 20% is getting high pay as they are the elite.

    Ray168

    ReplyDelete

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