Home News SG Economy Graduates real starting pay decreased 2% last 9 years?

Graduates real starting pay decreased 2% last 9 years?




- Advertisement -

By: Leong Sze Hian

Higher salaries for university graduates

I refer to the article “Higher salaries for university graduates from NUS, NTU and SMU in 2016” (Straits Times, Feb 22).

It states that “Median monthly salaries for university graduates last year rose to a new high of $3,360, up from $3,300 for the class of 2015.

- Advertisement -

The survey also found that about nine in 10 graduates, or 89.7 per cent, were able to find employment within six months of finishing their final examinations. The figure is similar to previous years.

Full-time jobs dropped from 83.1 to 80.2%?

However, about 80.2 per cent of the graduates in the labour force secured permanent full-time jobs, a dip from the 83.1 per cent in 2015.”

According to the Singapore Yearbook of Manpower Statistics 2014 (page H30) – the median gross monthly starting salary of university graduates in full-time permanent employment was $2,750 in 2007.

Graduates’ real starting pay declined 2% last 9 years?

Does this mean that their starting salaries increased by about 22 per cent ($3,360 divided by $2,750) in the last nine years?

Since inflation was about 24.2 per cent from 2007 (CPI 79.65) to 2016 (CPI 98.932) – does it mean that in real terms – their starting salaries declined by about -2 per cent (24 – 22%) in the last nine years?Follow us on Social Media

Send in your scoops to news@theindependent.sg 

- Advertisement -

Calvin Cheng cautions: “The PAP needs to remember how to be a political party”

Singapore -- Former Nominated Member of Parliament (NMP) Calvin Cheng took to social media to say that the era of Lee Kuan Yew-style politics was over. In a Facebook post on Tuesday (Apr 13), Mr Cheng wrote about politics in Singapore. “For half...

Those who recover from Covid-19 may be at risk for blood clotting: S’pore study

Singapore – According to a study by the Nanyang Technological University (NTU), people who have recovered from Covid-19 may face risks of blood clot formation due to an overactive immune response. Covid-19 patients, especially those with pre-existing cardiovascular conditions, may be at...

Tan Cheng Bock and Goh Chok Tong were apparently from the same CCA in RI

Singapore -- Known to have been close friends once, Dr Tan Cheng Bock and Mr Goh Chok Tong recently attended the same scouting event at Raffles Institution, indicating that they were likely from the same CCA as well. In a Facebook post...
Follow us on Social Media

Send in your scoops to news@theindependent.sg