The median monthly salary of fresh graduates from Singapore’s three oldest universities in 2016 rose to a new high of $3,360 from the previous year’s $3,300, a joint graduate employment survey revealed.
The poll included 10,904 fresh graduates of
Nanyang Technological University (NTU), the National University of Singapore (NUS), and
Singapore Management University (SMU).
Nearly 9 in 10 graduates (89.75%) were able to find employment within six months of finishing their final examinations, similar to previous years,
The Straits Times reported.
Fewer fresh graduates (80.2%) secured permanent full-time jobs in 2016 compared to 2015 (83.1%). Contracting appears to have risen in popularity as a talent solution, according a survey by employment consultancy firm
Michael Page. “In Hong Kong and Singapore, more than half (60%) of companies surveyed currently use contractors, primarily to overcome challenges in permanent headcount approvals,” the firm said.
“Currently, most contractors are in operations, technology, financial services (reflecting the tightening sector) and business support/administration positions,” it added.
SMU graduates fared best in the job hunt, as 93.8% of them were employed within six months of their final examinations. The figure was nearly 90% for NTU and NUS
, The Straits Times reported. The mean gross monthly salary among fresh graduates who have permanent full-time jobs was higher at $3,515, up from $3,468 in 2015, the report added.
SMU graduates took home an average gross monthly salary of $3,722. Their peers from NUS and NTU received $3,541 and $3,424 respectively.
Slightly more than a third (36%) of companies in Singapore are planning to increase headcount in 2017, the Michael Page survey said. Of the companies planning to increase headcount, 6 in 10 are looking to hire at middle-management level.
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