Latest news with #JointAutonomousUniversitiesGraduateEmploymentSurvey
Independent Singapore
26-04-2025
- Business
- Independent Singapore
‘Is S$4,600 acceptable?' — Fresh grad debates about his tech job salary offer in today's job market
SINGAPORE: A fresh graduate took to Reddit to ask if a starting salary of S$4,600 was 'acceptable' for a tech role in today's job market. Posting on the r/askSingapore forum on Friday (April 25), he shared that while it was a relief to receive a job offer after months of searching, he finally had serious doubts about accepting the deal. Not only did he feel that the S$4,600 salary was on the lower end for the tech industry, especially given his background from one of Singapore's top universities, but he was also concerned about the company's reputation. According to him, the organisation is known for having a toxic work environment. 'I might have made the best decision in my life by getting a job in this poor job economy, but also a bad one, knowing I might be subjected to being overworked,' he wrote. To complicate things further, the fresh grad revealed that he had a final interview with another company that might offer better compensation. 'Digging through forums, the salary [for the other job] is in the S$5,000 to S$6,000 range. Rejecting that job offer for this one is such a huge leap of blind faith, though. Feels like a ticking time bomb because being a fresher for too long is no good either,' he said. Seeking advice, he asked the community, 'People who have been in the corporate world for years/freshers, what would you all do if you were me? Would you take the leap of faith and hope for the job with the last interview, or would you just accept it? Also, employed freshers, what were your starting salaries? Would you accept a tech job that is less than S$5,000 in this job economy?' 'Employers look at your experience and pay you based on industry standards.' In the comments section of the post, one Singaporean suggested, 'Accept the offer of the first company. Go through with the interview with the second company. If the second company offers better, just accept the offer and tell the first company that you won't be joining. I don't think they can do much about it unless there's a clause in the employment contract. Be prepared to be blacklisted from the first company, tho.' Another wrote, 'IMO, starting salary is not that important. In the long run, a few thousand is really not going to change your life, unless you have tight financial constraints. I started a job with a pay slightly lower than yours. It's just good to get your feet wet and build experience. I would prioritise a job with good industry prospects and potential experience over a few hundred dollars of salary difference.' A third added, 'Honestly, these days no one really cares if you're from NTU or NUS. Employers look at your experience and pay you based on industry standards.' Median starting salary for fresh graduates According to the Joint Autonomous Universities Graduate Employment Survey, the median starting salary for fresh graduates increased by 4.2%, rising from S$4,317 in 2023 to S$4,500 in 2024. Among the different fields of study, business graduates recorded the largest gain, with median salaries going up from S$4,150 to S$4,400. In contrast, graduates in arts, design, and media saw the smallest growth, with a slight increase from S$3,740 to S$3,800. Read more: Salary for fresh graduates higher in 2024, but fewer were employed 6 months after finishing uni Featured image by freepik (for illustration purposes only)
Yahoo
25-02-2025
- Business
- Yahoo
More Singapore graduates in 2024 jobless 6 months after leaving university: Survey; DBS to cut around 4,000 contract, temp staff as AI replaces roles: Singapore live news
Hello to all our readers, Yahoo Singapore will be bringing you live news updates today. More graduates in 2024 were jobless six months after leaving university, according to a survey released on Monday (23 Feb). Of the 12,500 fresh graduates polled in the 2024 Joint Autonomous Universities Graduate Employment Survey, 87.1 per cent were employed within six months of completing their final exams. However, the median gross salary among fresh graduates rose in 2024, increasing by 4.2 per cent from $4,317 last year to $4,500. DBS Group is looking to cut around 4,000 contract and temporary roles over the next three years, with artificial intelligence (AI) replacing staff in these roles. Chief executive officer Piyush Gupta the news, telling Bloomberg that the bank will trim its workforce following adoption of AI across its business. Read more in our live blog below, including the latest local and international news and updates. DBS Group is looking to cut around 4,000 contract and temporary roles over the next three years, with artificial intelligence (AI) replacing staff in these roles. Chief executive officer Piyush Gupta confirmed a Press Trust of India news agency report, telling Bloomberg that the bank will trim its workforce following adoption of AI across its business. Bloomberg reported that the bank has about 8,000 to 9,000 of such staff. Gupta also said that permanent staff will not be affected. According to a Bloomberg Intelligence report last month, global banks are projected to cut as many as 200,000 jobs in the next three to five years as AI increasingly takes over the tasks that was once carried out by human staff. For more on the DBS cuts, read here. More graduates in 2024 were jobless six months after leaving university, according to a survey released on Monday (23 Feb). Of the 12,500 fresh graduates polled in the 2024 Joint Autonomous Universities Graduate Employment Survey, 87.1 per cent were employed within six months of completing their final exams. There was a drop from 89.6 per cent in 2023, which itself was a drop from 93.8 per cent in 2022. Conversely, the proportion of those who were unemployed saw a rise across the years. In 2022, 6.2 per cent were unemployed, with the numbers doubling for 2024 to hit 12.9 per cent. Of those who were employed, 79.5 per cent found a full-time job, a drop from 84.1 per cent in 2023. This continued a downward trend from 2022 which saw 87.5 per cent of the graduates securing a full-time job. There was also a rise in those who went into part-time or temporary work, with 6 per cent of the respondents falling into this category. This was an increase from 4 per cent in 2023, and 4.4 per cent in 2022. Among the 6 per cent, though, 3.8 per cent went into it voluntarily – comparative to 3.6 per cent in 2022 but a rise from 2.9 per cent in 2023. The proportion who went into part-time/temporary work involuntarily has been rising steadily since 2022, from 0.8 per cent to 2.2 per cent in 2024. Those who went into freelancing remained somewhat steady at 1.6 per cent, compared to 2023's 1.5 per cent. Higher median gross salary However, the median gross salary among fresh graduates rose in 2024, increasing by 4.2 per cent from $4,317 last year to $4,500. According to the survey, the business cluster saw the largest increase, with the salary rising from $4,150 in 2023 to $4,400 in 2024. On the other end of the spectrum is the arts, design and media cluster which only saw a marginal increase of $60 to $3,800. The survey was conducted by the National University of Singapore, Nanyang Technological University, the Singapore Management University, the Singapore University of Social Sciences, and the Singapore University of Technology and Design. The Singapore Institute of Technology will release the results of its own survey separately at a later date. DBS Group is looking to cut around 4,000 contract and temporary roles over the next three years, with artificial intelligence (AI) replacing staff in these roles. Chief executive officer Piyush Gupta confirmed a Press Trust of India news agency report, telling Bloomberg that the bank will trim its workforce following adoption of AI across its business. Bloomberg reported that the bank has about 8,000 to 9,000 of such staff. Gupta also said that permanent staff will not be affected. According to a Bloomberg Intelligence report last month, global banks are projected to cut as many as 200,000 jobs in the next three to five years as AI increasingly takes over the tasks that was once carried out by human staff. For more on the DBS cuts, read here. More graduates in 2024 were jobless six months after leaving university, according to a survey released on Monday (23 Feb). Of the 12,500 fresh graduates polled in the 2024 Joint Autonomous Universities Graduate Employment Survey, 87.1 per cent were employed within six months of completing their final exams. There was a drop from 89.6 per cent in 2023, which itself was a drop from 93.8 per cent in 2022. Conversely, the proportion of those who were unemployed saw a rise across the years. In 2022, 6.2 per cent were unemployed, with the numbers doubling for 2024 to hit 12.9 per cent. Of those who were employed, 79.5 per cent found a full-time job, a drop from 84.1 per cent in 2023. This continued a downward trend from 2022 which saw 87.5 per cent of the graduates securing a full-time job. There was also a rise in those who went into part-time or temporary work, with 6 per cent of the respondents falling into this category. This was an increase from 4 per cent in 2023, and 4.4 per cent in 2022. Among the 6 per cent, though, 3.8 per cent went into it voluntarily – comparative to 3.6 per cent in 2022 but a rise from 2.9 per cent in 2023. The proportion who went into part-time/temporary work involuntarily has been rising steadily since 2022, from 0.8 per cent to 2.2 per cent in 2024. Those who went into freelancing remained somewhat steady at 1.6 per cent, compared to 2023's 1.5 per cent. Higher median gross salary However, the median gross salary among fresh graduates rose in 2024, increasing by 4.2 per cent from $4,317 last year to $4,500. According to the survey, the business cluster saw the largest increase, with the salary rising from $4,150 in 2023 to $4,400 in 2024. On the other end of the spectrum is the arts, design and media cluster which only saw a marginal increase of $60 to $3,800. The survey was conducted by the National University of Singapore, Nanyang Technological University, the Singapore Management University, the Singapore University of Social Sciences, and the Singapore University of Technology and Design. The Singapore Institute of Technology will release the results of its own survey separately at a later date.
