Higher starting pay for fresh grads: survey

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 pass degree holders is S$2,678 up some S$60 compared to last year's cohort of S$2,617.

Those with Honours (Second Lower and Below) are expected to earn S$2,766 - some S$55 more.

And those with Honours (Second Upper and Higher) can expect some S$2,882 - an increase of about S$30.

79 companies across general industries in Singapore took part in the survey.

The results also showed that jobs in engineering ranked at the top commanding the highest average starting salary, followed by jobs in research and development and merchandise operations.

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 & development at S$2,764 per month and merchandise operations at 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 at S$1,915 per month and jobs in research & development following suit at S$1,903 per month.

Meanwhile, the average starting pay for diploma holders is about S$1,866 per month - an increase of about S$60.

-CNA/ac/ck