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Salary expectations among Gen Z Singaporeans have been increasing year-on-year, according to a recent study.
Interestingly, the salary expectations among IT graduates are significantly higher compared to both business and commerce and engineering and natural sciences students. Something that echoes the increased demand for IT talent in a skills-short market.
When asked about their salary expectations, the average expected monthly salary for IT graduates is $4,500 – 20% higher than graduates of business and engineering students, based on Universum’s study.
“The demand for digital and IT talent in Singapore continues to increase,” Mike Parsons, managing director APAC at Universum told HRD. “Not only does the survey highlight the pressure this is putting on salaries, this trend is pushing employers, especially non-traditional employers of digital talent, to be more strategic and segmented with what they offer and communicate.”
READ MORE: How to attract and retain Gen Zs and millennials
As seen in past years, regardless of their background, Gen Zs chose “to have work/life balance” and “to be secure or stable in my job” as their number one and two career goals respectively.
The findings diverge in their third topmost career goal, based on their area of study.
IT graduates seek “to be competitively or intellectually challenged” through their careers
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Business and commerce graduates chose “to be a leader or manager of people” as their third most important career goal.
In contrast, engineering and natural science students rank “to be dedicated to a cause or to feel that I am serving a greater good” as their third most important to them.
As for their most preferred first job after graduation, majority of Gen Zs (54%) want to work for an international organisation. A minority 6% are aiming for a spot in a start-up to start off their careers.