Despite sentiments of a slowdown emerging in the global economy, global management consulting firm Hay Group said that fresh graduates will fare better this year, with employers in Singapore offering a higher base salary compared to their 2011 cohorts.
For immediate release
SINGAPORE, July 30, 2012 – Despite sentiments of a slow
down emerging in the global economy, global management consulting firm Hay Group said that fresh graduates will fare better this year, with employers in Singapore offering a higher base salary compared to their 2011 cohorts.
According to Hay Group’s Fresh Graduate Pay Survey 2012 conducted in June, the average starting monthly pay for degree holders across the three qualification categories — without Honors, with Honors (Second Lower and Below) and with Honors (Second Upper and Higher) — is S$2,678, S$2,766 and S$2,882 respectively.
The survey, which drew participation from 79 companies across general industries in Singapore, 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 honors), followed by jobs in Research & Development (S$2,764 per month) and Merchandize Operations (S$2,742 per month). See Tables 1-3.
For diploma holders, jobs in Merchandize Operations command 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 & Development following suit (S$1,903 per month). The average starting pay for diploma holders is S$1,866 per month.
Mr Victor Chan, Regional General Manager (Singapore and ASEAN) for Productized Services, Hay Group said, “In spite of the high volatility of international financial markets and the economic uncertainty in Europe, companies in Singapore continue to engage in the graduate talent war. Employers are setting a higher benchmark for the starting pay package for fresh graduates this year especially for engineering graduates.”
Return on investment
For diploma-holders who are considering investing in a degree, the Hay Group study shows that employers in Singapore place a premium of 48.7 per cent for average degree holders over diploma holders in terms of starting salaries.
Meanwhile, the premium which employers place on a Master’s degree over average degree holders is 11.9 per cent.
“For Master’s degree holders, the key determinant of their remuneration package will depend on the institution where they attained the higher qualification as well as the area of professional specialisation they belong to,” said Mr Chan.
According to Hay Group’s Fresh Graduate Pay Survey 2012 conducted in June, the average starting monthly pay for degree holders across the three qualification categories — without Honors, with Honors (Second Lower and Below) and with Honors (Second Upper and Higher) — is S$2,678, S$2,766 and S$2,882 respectively.
The survey, which drew participation from 79 companies across general industries in Singapore, 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 honors), followed by jobs in Research & Development (S$2,764 per month) and Merchandize Operations (S$2,742 per month). See Tables 1-3.
For diploma holders, jobs in Merchandize Operations command 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 & Development following suit (S$1,903 per month). The average starting pay for diploma holders is S$1,866 per month.
Mr Victor Chan, Regional General Manager (Singapore and ASEAN) for Productized Services, Hay Group said, “In spite of the high volatility of international financial markets and the economic uncertainty in Europe, companies in Singapore continue to engage in the graduate talent war. Employers are setting a higher benchmark for the starting pay package for fresh graduates this year especially for engineering graduates.”
Return on investment
For diploma-holders who are considering investing in a degree, the Hay Group study shows that employers in Singapore place a premium of 48.7 per cent for average degree holders over diploma holders in terms of starting salaries.
Meanwhile, the premium which employers place on a Master’s degree over average degree holders is 11.9 per cent.
“For Master’s degree holders, the key determinant of their remuneration package will depend on the institution where they attained the higher qualification as well as the area of professional specialisation they belong to,” said Mr Chan.
No comments:
Post a Comment