Starting salary
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slmkhoo:
starlight1968sg:
My starting salary (gross) was $1600 in 1986, after the pay reduction because of the recession. I was at NTU for a talk yesterday, and they flashed a table showing that starting salaries were around $3K to $3.3K for graduates from most courses.
You will be surprised, those you mentioned above are just the mean or median salaries, the top 10 or 20% of fresh graduates are earning a lot more. It was mentioned in a few messages above (I think, by lee_yl) that one with first class honours engineering degree is offered $4800 for fresh grad, it should be true. The fresh grad (Comp Sci/Info Systems) I mentioned who got 2nd Class upper honours and is joining the civil service is offered $4900. Those in investment companies are offered even more, $5k to $6k per month, for fresh graduates (most have first class or 2nd class upper honours). Hence it is very important to get a good class degree, besides doing internships. Nowadays, some companies that want to attract top fresh graduates, they are willing to pay interns $3k to $4k per month, and then offer them permanent jobs if they perform well during the internships (which uni you come from is actually not important, whether nus, ntu, smu, Ivy League or Oxbridge etc). -
slmkhoo:
I was at NTU for a talk yesterday, and they flashed a table showing that starting salaries were around $3K to $3.3K for graduates from most courses.
These numbers sound logical based on those fresh grads whom I know, ranging from $2600 - $3800.
Highest I know is one who was offered a job right after his graduation in UK, at about 5,000 pounds per month in an investment bank with annual bonus based on performance (heard last year he got 12 months). This chap is an exception rather than the norm. But I dont really 'envy' him coz his working hours is like 24 hours (due to international trading hours) and I foresee he may live 'shorter' with high probability of many ailments around 35 yo. 血汗钱. -
mjl:
Unless one is top of the top than he/she stands a chance to get a paid internship of $3-4K. Which university one comes from therefore does matter for this type of internship as it is highly competitive (that 5K pounds chap I mentioned in my previous post is from one of the top unis and is among the top of his cohort and so he got headhunted prior to graduation).
You will be surprised, those you mentioned above are just the mean or median salaries, the top 10 or 20% of fresh graduates are earning a lot more. It was mentioned in a few messages above (I think, by lee_yl) that one with first class honours engineering degree is offered $4800 for fresh grad, it should be true. The fresh grad (Comp Sci/Info Systems) I mentioned who got 2nd Class upper honours and is joining the civil service is offered $4900. Those in investment companies are offered even more, $5k to $6k per month, for fresh graduates (most have first class or 2nd class upper honours). Hence it is very important to get a good class degree, besides doing internships. Nowadays, some companies that want to attract top fresh graduates, they are willing to pay interns $3k to $4k per month, and then offer them permanent jobs if they perform well during the internships (which uni you come from is actually not important, whether nus, ntu, smu, Ivy League or Oxbridge etc).
If a company 有良心 when they have a budget, they will pay the interns about $1000/month allowance (more for food and transport).
Many companies are without 良心 or they dont mind having interns but have no budget for such. So interns work for free in exchange for experience. Some have to sort of 'beg' to work for free. Quite many interns work in this category.
I have a HK friend whose daughter interned in Spore under HK civil service. This post is highly competitive. Zero allowance and she has to pay for everything when the daughter is here for 6 months internship (accommodation, daily expenses, etc). -
ngl2010:
Depends on the industry also. Within the legal industry, the difference between a first at NUS/SMU and a first from oxbridge is non-existent. In fact, some might say that locally the firms prefer hiring the NUS/SMU kids (of course, bearing in mind that NUS Law's used to have more dean's listers than FCHs.)Last time, first class honours fresh graduate will get higher starting salary. Is it still true now?
How about local graduate vs overseas graduate (Ivy League university)? Which one will get higher starting salary?
TIA
The gap between a first and a second-upper in NUS is quite small - the biggest difference is actually the firm which you are joining, rather than your class of honours. If you join one of the magic circle firms, you can easily start off at 10k/annum (other big international firms offer around 7k) - they usually only take in the clear first class honours/consistent dean's listers.
The big 4 currently offers around 5-6k. Other firms, most graduates will get around 4-5k regardless of class of honours. Even the government offers 4.4 thereabouts for 2nd uppers. -
mjl:
Comp Sci/Info Comms is in fashion with the Smart Nation initiative and the hype about Big Data and Deep Learning. Hearsay DSO / GovTech offers up to $5K for candidates with good Hons in the relevant field.
You will be surprised, those you mentioned above are just the mean or median salaries, the top 10 or 20% of fresh graduates are earning a lot more. It was mentioned in a few messages above (I think, by lee_yl) that one with first class honours engineering degree is offered $4800 for fresh grad, it should be true. The fresh grad (Comp Sci/Info Systems) I mentioned who got 2nd Class upper honours and is joining the civil service is offered $4900. Those in investment companies are offered even more, $5k to $6k per month, for fresh graduates (most have first class or 2nd class upper honours). Hence it is very important to get a good class degree, besides doing internships. Nowadays, some companies that want to attract top fresh graduates, they are willing to pay interns $3k to $4k per month, and then offer them permanent jobs if they perform well during the internships (which uni you come from is actually not important, whether nus, ntu, smu, Ivy League or Oxbridge etc). -
lee_yl:
Which reminds me, there's also the start-ups. I'm not sure how much \"salary\" they earn, but if their project is good, I won't be surprised they get bought over by a larger firm, and end up earning more than everyone. This was something from the NUS grads awhile back https://www.spring.gov.sg/NewsEvents/ITN/Pages/Crowdfunding-catches-on-Shooting-for-the-stars-20160708.aspx
Comp Sci/Info Comms is in fashion with the Smart Nation initiative and the hype about Big Data and Deep Learning. Hearsay DSO / GovTech offers up to $5K for candidates with good Hons in the relevant field.
If the student has the guts to go out and try, entrepreneurship is what we sorely lack in Singapore now. There are a lot of seeding funds/grants available for these projects recently. -
lee_yl:
Comp Sci/Info Comms is in fashion with the Smart Nation initiative and the hype about Big Data and Deep Learning. Hearsay DSO / GovTech offers up to $5K for candidates with good Hons in the relevant field.
Yes, you are right. Not hearsay. -
Starting salaries are high for these top grads. I didn’t realize that pay was the same in the legal industry for those graduating with firsts from Oxbridge and NUS. I know those graduating from overseas unis (non Oxbridge) have a harder time finding pupilage. Or landing a permanent placement after pupilage.
A friend was telling me some grads are drawing under $2K. Is this the norm for some industries? -
jtoh:
So far I know of three recent grads drawing under $2K:Starting salaries are high for these top grads. I didn't realize that pay was the same in the legal industry for those graduating with firsts from Oxbridge and NUS. I know those graduating from overseas unis (non Oxbridge) have a harder time finding pupilage. Or landing a permanent placement after pupilage.
A friend was telling me some grads are drawing under $2K. Is this the norm for some industries?
1. IT Degree from SIM (not sure whether it is UniSim) - working as an assistant programmer, accepting low salary as couldn't find a job and so took it and see how.
2. Architecture degree from an overseas uni (recognised) - working as a building design magazine editor trainee/apprentice, accepting low salary as she deems good prospect to have the opportunity to travel with the chief editor around the world to study buildings
3. NUS Social Science - working as a social worker and willingly accepting lower salary for a greater cause
Above 3 with B++ average results.
Ya, one more:
4. NUS IT Degree - working as a Sales person (basic salary below $2K, and if works hard enough to hit commission, then a possibility of hitting $3K). Applied for many IT related jobs but didn't get any offer and so ended up in a totally non-IT related sales job that requires only O level applicant (but if he works hard enough, he has a higher chance of being promoted to managerial position years later). This one so-so results but graduated. -
So the job market is real bad now?
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