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 are as follows for this year:Without Honours - S$2,741 (up 2 per cent from 2013)
With Honours (Second Lower) - S$2,853 (up 2 per cent from 2013)
With Honours (Second Upper) - S$2,939 (up 1.6 per cent from 2013)
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 and Information Technology sectors.
AVERAGE STARTING PAY FOR DEGREE-HOLDERS IN 2014 Similarly for diploma-holders, Engineering graduates command the highest average starting salary of S$1,976 per month, with Marketing coming in second.
AVERAGE STARTING PAY FOR DIPLOMA-HOLDERS IN 2014One 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. - CNA/do
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