SINGAPORE: Singaporean fresh graduates have declared that salary is the top priority in job hunting, according to an annual survey on graduate sentiment conducted by GTI Media.
The latest poll, as reported by Channel News Asia, found that more graduates are concerned about the rising cost of living and the use of artificial intelligence (AI) in their chosen careers.
Kristi Ellie Jauw, a recent graduate still searching for a job, said, “I think my biggest concern right now is that I have a student loan to pay off, so I guess my salary has to be on par with the living cost that we’re able to afford the loans itself.“
Jauw’s worries are shared by many other graduates. Almost 80%, among more than 11,600 student graduates surveyed, said they’re worried about making enough money with the high cost of living in Singapore.
According to Isaac Hee, managing director of GTI Media Singapore, this year’s survey shows a “generalised sense of anxiety” among graduates, and reassurance is needed to address their concerns.
The survey also showed that 69% believe it will be challenging to secure desirable employment—a 13.3% increase from the previous year.
Additionally, 53% of respondents expressed concerns about AI’s potential impact on their careers, fearing it could make them obsolete in their industries.
The survey finds that employers with more stable career prospects, like those in finance or Civil Service, are becoming more popular.
The Education Ministry ranked third place, up from sixth place last year. Companies that offer flexible working arrangements and care for staff welfare are also making their way to the top of some job seekers’ lists.
Mr Hee explained that in past surveys, graduates often downplayed the importance of salary to avoid appearing demanding or pushy.
Instead, they focused on long-term benefits, such as career development prospects and mentorship opportunities. However, this year, for the first time, graduates are openly stating that salary is their top priority.
He shared, “This is the first year that they’re openly saying. It’s salary, straight up. This is important to me right now.” He also added that graduates are questioning the value of long-term career progression when job stability is uncertain.
He stated, “What is the point of looking at good career progression prospects if I can’t even guarantee that I’ll still be in the same job the next year?
Who’s to say there won’t be another round of staffing cuts? Who’s to say there won’t be talk of having my current role automated out by AI?”
With these factors combined, graduates prioritise immediate financial stability, making salary their top consideration when choosing a job.
One Singaporean online sums it up by sharing, “Finally the young people are finally saying what everyone already knows and not trying to hide it.” /TISG