Engineering was the top starting-pay sector for degree and diploma holders, according to a survey released by global management consulting firm Hay Group.
SINGAPORE: Fresh graduates will see a small rise in starting salaries this year, according to a survey released by global management consulting firm Hay Group on Tuesday (Aug 26).
The annual Hay Group Fresh Graduate Pay Survey showed that the average monthly starting salary for degree holders in three qualification categories - without Honours, with Honours (Second Lower) and with Honours (Second Upper) - is S$2,741, S$2,853, S$2,939 respectively, for 2014.
By comparison, the average monthly starting salary for degree holders in 2013 was S$2,683 for Bachelor Degree (without Honours), S$2,795 for Bachelor Degree (Honours, Second Lower) and S$2,892 for Bachelor Degree (Honours, Second Upper).
In addition, one out of five employers placed an average premium of S$214 per month for local university graduates compared with non-local university graduates, the survey said.
As for diploma holders, they can expect an average starting salary of S$1,878 per month, about 2 per cent more than last year's figure, according to Hays. The survey was based on the salary expectations of 95 organisations.
TOP PAYING SECTOR: ENGINEERING
For those with a Bachelor's degree (without Honours), Engineering commanded the highest average salary of S$2,888 per month, followed by jobs in the Legal (S$2,856 per month) and Information Technology (S$2,816 per month) sectors, the survey reflected.
Similarly for diploma holders, Engineering graduates command the highest average starting salary of S$1,976 per month, with Marketing coming in second at S$1,938 per month and Administration/Support/Service taking third place at S$1,925 per month.
The Hay Group study also showed that employers are likely to pay up to 46 per cent more in starting salaries for average degree holders compared with diploma holders.
Similarly, employers place a premium of approximately 4.10 per cent and 7.22 per cent on a Bachelor Degree with Honors (Second Lower) and a Honors (Second Upper), respectively, compared to an average degree holder.
One in three employers surveyed also said that they are likely to provide an average premium of S$195 per month as an incentive to male employees who have completed National Service.
The full table for average entry-level monthly salary for degree holders in 2014 is reproduced below:
SINGAPORE: Fresh graduates will see a small rise in starting salaries this year, according to a survey released by global management consulting firm Hay Group on Tuesday (Aug 26).
The annual Hay Group Fresh Graduate Pay Survey showed that the average monthly starting salary for degree holders in three qualification categories - without Honours, with Honours (Second Lower) and with Honours (Second Upper) - is S$2,741, S$2,853, S$2,939 respectively, for 2014.
By comparison, the average monthly starting salary for degree holders in 2013 was S$2,683 for Bachelor Degree (without Honours), S$2,795 for Bachelor Degree (Honours, Second Lower) and S$2,892 for Bachelor Degree (Honours, Second Upper).
In addition, one out of five employers placed an average premium of S$214 per month for local university graduates compared with non-local university graduates, the survey said.
As for diploma holders, they can expect an average starting salary of S$1,878 per month, about 2 per cent more than last year's figure, according to Hays. The survey was based on the salary expectations of 95 organisations.
TOP PAYING SECTOR: ENGINEERING
For those with a Bachelor's degree (without Honours), Engineering commanded the highest average salary of S$2,888 per month, followed by jobs in the Legal (S$2,856 per month) and Information Technology (S$2,816 per month) sectors, the survey reflected.
Similarly for diploma holders, Engineering graduates command the highest average starting salary of S$1,976 per month, with Marketing coming in second at S$1,938 per month and Administration/Support/Service taking third place at S$1,925 per month.
The Hay Group study also showed that employers are likely to pay up to 46 per cent more in starting salaries for average degree holders compared with diploma holders.
Similarly, employers place a premium of approximately 4.10 per cent and 7.22 per cent on a Bachelor Degree with Honors (Second Lower) and a Honors (Second Upper), respectively, compared to an average degree holder.
One in three employers surveyed also said that they are likely to provide an average premium of S$195 per month as an incentive to male employees who have completed National Service.
The full table for average entry-level monthly salary for degree holders in 2014 is reproduced below: