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Independent Singapore
2 days ago
- Independent Singapore
Singaporean man shocked as friend with master's degree only gets S$3.2k–S$3.5k job offers
SINGAPORE: It seems that holding a master's degree no longer guarantees a well-paying job these days, as one Singaporean man recently discovered through his friend's experience. In a post shared on the r/singaporejobs forum on Wednesday (July 23), the man explained that his friend had just returned to Singapore after completing a postgraduate degree overseas. Armed with strong academic credentials and high hopes, his friend had expected to secure 'at least a decent entry-level role' upon coming home. Unfortunately, things didn't work out the way he had imagined. Despite months of sending out applications and attending interviews, his friend is still unemployed. Worse still, the few offers he has received only come with salaries between S$3,200 and S$3,500, which is far below what he had anticipated, given his qualifications. To rub salt in the wound, they have also learned that several of their other friends, who hold only local degrees or diplomas, have managed to secure S$4,000-paying jobs, reportedly 'thanks to their early work experience and family referrals.' Worn down by the job market, the man said that his friend has started to question whether pursuing a Master's degree was truly a worthwhile investment. 'It's making my friend question whether the extra time and money spent on that postgrad was even worth it.' He then asked other locals, 'Is this common these days? Has the degree premium faded, or is it more about luck, timing, and who you know now?' 'Please put down the pride and be humble.' Unlike the man, many were not at all surprised by his friend's experience. Some were quick to point out that in today's job market, fancy certificates alone don't guarantee anything. One individual said, 'Getting a master's is just one entry in his CV. It's not a golden ticket.' Another shared, 'Having a degree just shows that you can study in academic settings. Someone who has a history of proven work experiences and skills is worth more in terms of what value they can bring to the employer.' A third simply said, 'A master's means nothing with no work experience.' A fourth added, 'Your friend is delusional. Please put down the pride and be humble and put effort into preparing for the interviews, including not overblowing the academic qualifications, especially if he has no working experience.' In other news, a working adult in his late 20s recently opened up online about feeling insecure over having less than S$10,000 in savings. Posting on Reddit's 'Ask Singapore' forum on Tuesday (July 22), the man shared that he often feels left behind when his friends or colleagues talk casually about their investments and how much they've managed to save. Compared to them, he admitted, his progress feels painfully slow. Read more: Man in his late 20s feels insecure about having less than S$10k in savings
CNA
2 days ago
- CNA
Chipmaker STMicro makes first loss in over a decade, hit by restructuring costs
AMSTERDAM :STMicroelectronics reported a second-quarter loss on Thursday, its first in more than a decade, underperforming market expectations as it was hit by restructuring costs. The company's shares fell 11 per cent in early trade, on track for their worst day since July last year. The Franco-Italian chipmaker, which makes power chips for Tesla's drivetrains and eSim modules for Apple's iPhones, posted a loss of $133 million for the quarter, missing the average $56.2 million profit analysts expected in an LSEG poll. The operating loss included a $190 million impairment, restructuring charges and other costs, STMicro said in a statement. Without the restructuring and impairment costs, profits would have reached $57 million, the company added. STMicro's heavy reliance on in-house manufacturing, representing about 80 per cent of sales, has burdened it with underused factories and high staff costs when the market slows, unlike rivals Infineon and NXP that use more contract manufacturing, analysts say. Chipmakers exposed to the struggling automotive, industrial, and consumer chip markets such as STMicro, Texas Instruments, or NXP have faced a sales slump, hit by low demand, high inventories, and geopolitical disruptions. STMicro, one of Europe's largest chipmakers, unveiled a cost-cutting plan last year to restructure its manufacturing facilities and save hundreds of millions of dollars by 2027. The plans, which included cutting 5,000 jobs in France and Italy over the next three years, started a spat between the French and Italian governments, who jointly own a stake of 27.5 per centin the firm. STMicro's Chief Executive Jean-Marc Chery defended his plan after the Italian government sought to oust him and accused the management of insider trading. STMicro has not provided guidance for the full year of 2025. In June, the company said it saw the early signs of an upcycle, or a period of increased market demand, which would allow it to achieve its second-quarter revenue goal of $2.71 billion.
CNA
2 days ago
- CNA
Japan's Nidec posts rise of 2.3% in first-quarter operating profit
TOKYO :Japanese electric motor maker Nidec reported on Thursday 61.45 billion yen ($420.60 million) in preliminary first-quarter operating profit, up 2.3 per cent from the year-earlier period. The result for the quarter ended June compared with an estimate of 60.18 billion yen in average profit from a survey of six analysts by LSEG. The Kyoto-based firm stuck with its full-year operating profit forecast of 260 billion yen. ($1=146.2200 yen)
