Fresh graduates attain higher salaries but fewer secure employment: Survey
In 2023, fresh graduates in Singapore attained higher salaries.
However, fewer were found to secure employment six months after their final exams, reported Channel NewsAsia (CNA).
These findings were revealed yesterday (22 Feb) in the annual Joint Graduate Employment Survey (JGES) conducted by Singapore’s six autonomous universities.
Generally higher salaries attained
The Straits Times (ST) reported that approximately 12,300 fresh graduates participated in the survey conducted in November 2023.
The participants were from the following four universities in Singapore:
- National University of Singapore (NUS)
- Nanyang Technological University (NTU)
- Singapore Management University (SMU)
- Singapore University of Social Sciences (SUSS)
As the other two autonomous universities — Singapore Institute of Technology (SIT) and Singapore University of Technology (SUTD) — have different academic calendars, they will conduct their surveys at a later time.
In 2023, fresh graduates engaged in full-time permanent employment had a monthly median salary of S$4,313.
This was an increase from the S$4,200 reported in 2022 and the S$3,800 recorded in 2021, reported ST.
Among these graduates, those specialising in information and digital technologies had the highest monthly median salary of S$5,500.
However, they experienced a slight dip from the previous year’s S$5,625, per the survey results.
Following closely, students in dentistry secured a monthly median salary of S$4,550, surpassing the S$4,200 reported in 2021 and 2022.
On the other hand, the course cluster with the lowest monthly median salary was arts, design, and media, recording S$3,740 in 2023.
Despite this, it showcased an upward trajectory from the S$3,500 reported in both 2021 and 2022.
Graduates from nine out of 12 course clusters achieved a higher salary in 2023 compared to the preceding year.
The three course clusters that experienced a drop in monthly median salary are:
- Engineering
- Information & Digital Technologies
- Yale-NUS
Fewer secured employment six months after graduation
However, fewer graduates were found to secure employment six months after they completed their final examinations.
In 2023, 89.6% of the 10,900 graduates in the labour force surveyed secured employment, 4.2% less than the previous year, reported ST.
These graduates included those who were in full-time permanent work, doing freelance work, and in part-time or temporary employment.
Moreover, there was an increase in the proportion of unemployed graduates.
In 2023, the figure for unemployment was reported as 10.4%, higher than 6.2% in 2022 and 5.6% in 2021.
Also read: More Fresh Graduates In S’pore Found Full-Time Jobs In 2022, Gross Monthly Salary Higher: Survey
More Fresh Graduates In S’pore Found Full-Time Jobs In 2022, Gross Monthly Salary Higher: Survey
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Featured image adapted from Nanyang Technological University (NTU) for illustration purposes only.
