A recent report highlights a growing disconnect between fresh graduates' salary expectations and actual earnings in Singapore, with many earning less than anticipated. Analysts warn of prolonged job searches and underemployment if expectations remain unrealistic, while netizens express frustration over executive bonuses and ministerial pay.
Singapore is witnessing a significant mismatch between the salary expectations of fresh graduates and the actual compensation offered in the current job market , according to a recent report.
The Ministry of Manpower (MOM) survey of residents aged 22 to 28 revealed that graduates in most fields are earning less than they had anticipated when they entered the workforce. One-third of university graduates who rejected job offers cited low pay as the primary reason, underscoring salary as a critical factor in employment decisions. Other reasons for declining opportunities included waiting for better prospects, concerns about job interest, workplace culture, or career advancement.
The report featured experts explaining that graduates often aim for higher starting salaries because they believe initial pay significantly influences future earnings and career progression. However, the survey found substantial gaps between expected and actual salaries, particularly among graduates in engineering, science, and information technology, who earned roughly SGD 500 to SGD 750 less than expected. The gap was even greater for graduates in business administration and natural and mathematical sciences.
In contrast, graduates in law, education, and fine and applied arts generally met or exceeded their salary expectations. MOM expects wages to continue rising, but employers are likely to adopt a more cautious approach to salary increases due to global economic uncertainty and inflation concerns. Analysts warn that graduates who maintain unrealistic salary expectations may prolong their job search and risk missing valuable opportunities.
Employers may also face challenges, including longer hiring processes and higher offer rejection rates, potentially contributing to underemployment where individuals work in roles that do not fully utilize their skills. Netizens commenting on the piece expressed dissatisfaction, given that the news affects the youngest cohort of workers who are struggling amid a tight job market, even as jobs are being displaced by artificial intelligence.
Negative feelings appear amplified by the high bonuses of top executives in large companies and the substantial salaries ministers receive, which are among the largest in the world. Some commenters argued that ministers should 'walk the talk' by aligning their compensation with average citizens' struggles. Others highlighted that some jobs in Singapore have been outsourced to foreign talent who likely paid much less for education, creating an uneven playing field.
A few pointed to property market dynamics, noting that high asset prices such as a small shop space in Toa Payoh commanding SGD 9,000 per month benefit only those who inherited wealth, exacerbating feelings of inequity among young graduates
Singapore Graduates Salary Expectations Job Market Ministry Of Manpower Underemployment Executive Bonuses Ministerial Pay Economic Uncertainty
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