Salary.sg – Your Salary in Singapore

All about Income, Jobs, Career, and Investment in Singapore

 

Graduate Employment Survey 2014 (Published 2015)

February 28th, 2015

~
Law, Medicine, Business and IT are tops yet again in the latest Graduate Employment Survey Results. However, there are 3 newcomers among the top 10 degree programmes (ranked by average gross salary) – Architecture, Dental Surgery and Aerospace Engineering.

University Graduates

In the top 10, NUS took 5 places, while SMU got 4 and NTU just 1.

Fresh lawyers earn an average gross monthly salary of $5k+. Doctors came in just shy of $5k, while the rest in the top 10 make between $3.9k and $4.4k.

At the bottom of the table are: Industrial Design, Art Design & Media, Applied Sciences, Arts and Science.

If you compare employability, Psychology and Industrial Design have poor full-time permanent employment rates at below 60%.

Data used in this article are based on the 2014 Graduate Employment Survey Results consolidated and released by MOE today (27th Feb, 2015). See also our GES ranking for the previous year.

To see more of such posts, please Like our Facebook page:

The following are this year’s rankings. As usual, we rank first by Average Gross Monthly Salary, and then by Permanent Employment Rate.

By Average Gross Monthly Salary (in brackets are the 75th-percentile salaries)

  1. SMU Law (4-years programme) Cum Laude and above – $5,571 (6,000)
  2. SMU Law (4-years programme) – $5,332 (5,950)
  3. NUS Bachelor of Laws (L.L.B) (Hons) – $5,247 (5,800)
  4. NUS Bachelor of Medicine and Bachelor of Surgery – $4,886 (5,200)
  5. NUS Bachelor of Arts (Architecture) – $4,400 (4,750)
  6. SMU Information Systems Management (4-year programme) Cum Laude and above – $4,151 (4,540)
  7. SMU Business Management (4-year programme) Cum Laude and above – $4,116 (4,500)
  8. NUS Bachelor of Business Administration (Hons) – $4,090 (4,300)
  9. NUS Bachelor of Dental Surgery – $4,054 (4,020)
  10. NTU Aerospace Engineering – $3,911 (4,070)
  11. SMU Accountancy (4-year programme) Cum Laude and above – $3,903 (4,300)
  12. SMU Economics (4-year programme) Cum Laude and above – $3,824 (4,350)
  13. NUS Bachelor of Computing (Information Systems) – $3,789 (4,039)
  14. NUS Bachelor of Engineering (Computer Engineering) – $3,762 (4,080)
  15. SMU Business Management (4-year programme) – $3,752 (4,000)
  16. NUS Bachelor of Engineering (Industrial and Systems Engineering) – $3,719 (4,000)
  17. NUS Bachelor of Computing (Computer Science) – $3,712 (4,000)
  18. NUS Bachelor of Science (Pharmacy) (Hons) – $3,670 (4,000)
  19. SMU Economics (4-year programme) – $3,645 (4,000)
  20. NTU Accountancy and Business – $3,597 (4,000)
  21. NUS Bachelor of Engineering (Electrical Engineering) – $3,571 (3,800)
  22. SMU Social Sciences (4-year programme) Cum Laude and above – $3,545 (3,955)
  23. NTU Arts (with Education) – $3,536 (3,700)
  24. SMU Information Systems Management (4-year programme) – $3,530 (4,000)
  25. NTU Computer Engineering – $3,512 (3,800)
  26. NTU Science (with Education) – $3,475 (3,750)
  27. NUS Bachelor of Engineering (Engineering Science) – $3,465 (3,790)
  28. NUS Bachelor of Engineering (Chemical Engineering) – $3,434 (3,650)
  29. NTU English – $3,432 (3,990)
  30. NTU Business and Computing – $3,431 (4,000)
  31. SMU Accountancy (4-year programme) – $3,420 (3,614)
  32. NTU Chemical And Biomolecular Engineering – $3,415 (3,575)
  33. NUS Bachelor of Business Administration (Accountancy) (Hons) – $3,407 (3,614)
  34. NUS Bachelor of Computing (Electronic Commerce) – $3,386 (3,500)
  35. NUS Bachelor of Business Administration – $3,367 (3,300)
  36. NUS Bachelor of Science (Nursing) (Hons) – $3,353 (3,600)
  37. NUS Bachelor of Engineering (Materials Science and Engineering) – $3,350 (3,600)
  38. NTU Electrical And Electronic Engineering – $3,336 (3,500)
  39. NUS Bachelor of Science (Hons) – $3,328 (3,600)
  40. NUS Bachelor of Engineering (Mechanical Engineering) – $3,323 (3,500)
  41. NTU Chemistry & Biological Chemistry – $3,321 (3,400)
  42. NTU Business (3-yr direct Honours Programme) – $3,318 (3,600)
  43. NTU Information Engineering And Media – $3,318 (3,600)
  44. NTU Computer Science – $3,304 (3,700)
  45. NUS Bachelor of Social Sciences – $3,304 (3,600)
  46. NTU Mechanical Engineering – $3,289 (3,500)
  47. NUS Bachelor of Engineering (Civil Engineering) – $3,281 (3,500)
  48. NUS Bachelor of Arts (Hons) – $3,277 (3,600)
  49. NTU Materials Engineering – $3,261 (3,410)
  50. NTU Physics / Applied Physics – $3,241 (3,560)
  51. NTU Sports Science and Management – $3,229 (3,590)
  52. NTU Psychology – $3,228 (3,500)
  53. NTU Economics – $3,222 (3,500)
  54. NUS Bachelor of Engineering (Environmental Engineering) – $3,215 (3,422)
  55. NTU Maritime Studies – $3,206 (3,500)
  56. NTU Bioengineering – $3,188 (3,400)
  57. NUS Bachelor of Science (Nursing) – $3,188 (3,386)
  58. NUS Bachelor of Science (Project and Facilities Management) – $3,181 (3,360)
  59. NTU Biological Sciences – $3,174 (3,400)
  60. SMU Social Sciences (4-year programme) – $3,166 (3,580)
  61. NTU Civil Engineering – $3,152 (3,300)
  62. NTU Linguistics And Multilingual Studies – $3,148 (3,500)
  63. NTU Sociology – $3,143 (3,260)
  64. NTU Mathematics & Economics – $3,142 (3,500)
  65. NUS Bachelor of Computing (Communications and Media) – $3,129 (3,300)
  66. NTU Environmental Engineering – $3,111 (3,500)
  67. NUS Bachelor of Science (Real Estate) – $3,108 (3,300)
  68. NTU Mathematical Science – $3,078 (3,300)
  69. NUS Bachelor of Engineering (Biomedical Engineering) – $3,058 (3,300)
  70. NTU Biomedical Science (Traditional Chinese Medicine) – $3,018 (3,400)
  71. NTU Chinese – $3,006 (3,300)
  72. NTU Accountancy (3-yr direct Honours Programme) – $3,003 (3,000)
  73. NUS Bachelor of Business Administration (Accountancy) – $2,989 (3,000)
  74. NTU Communication Studies – $2,976 (3,294)
  75. NUS Bachelor of Science – $2,973 (3,200)
  76. NUS Bachelor of Arts – $2,883 (3,010)
  77. NUS Bachelor of Applied Science (Hons) – $2,831 (3,000)
  78. NTU Art, Design & Media – $2,791 (3,000)
  79. NUS Bachelor of Arts (Industrial Design) – $2,603 (3,000)

 

By Permanent Employment Rate (in brackets are the median salaries)

  1. NUS Bachelor of Medicine and Bachelor of Surgery – 100.0% ($5,000)
  2. NUS Bachelor of Dental Surgery – 100.0% ($4,000)
  3. NUS Bachelor of Science (Nursing) (Hons) – 100.0% ($3,500)
  4. NTU Arts (with Education) – 100.0% ($3,475)
  5. NTU Science (with Education) – 100.0% ($3,475)
  6. NTU Biomedical Science (Traditional Chinese Medicine) – 100.0% ($2,900)
  7. SMU Law (4-years programme) Cum Laude and above – 97.7% ($5,800)
  8. NUS Bachelor of Laws (L.L.B) (Hons) – 97.6% ($5,150)
  9. NUS Bachelor of Engineering (Civil Engineering) – 97.1% ($3,208)
  10. NUS Bachelor of Science (Pharmacy) (Hons) – 96.7% ($3,630)
  11. NUS Bachelor of Engineering (Industrial and Systems Engineering) – 96.5% ($3,600)
  12. NUS Bachelor of Business Administration (Accountancy) (Hons) – 96.3% ($2,912)
  13. SMU Accountancy (4-year programme) Cum Laude and above – 96.1% ($3,500)
  14. NTU Accountancy (3-yr direct Honours Programme) – 96.1% ($2,840)
  15. SMU Law (4-years programme) – 95.6% ($5,025)
  16. NTU Accountancy and Business – 95.6% ($3,300)
  17. NUS Bachelor of Science (Nursing) – 95.6% ($3,200)
  18. NUS Bachelor of Arts (Architecture) – 95.2% ($4,275)
  19. NUS Bachelor of Science (Project and Facilities Management) – 94.1% ($3,000)
  20. SMU Business Management (4-year programme) Cum Laude and above – 94.0% ($3,600)
  21. NTU Computer Science – 93.7% ($3,200)
  22. NUS Bachelor of Engineering (Environmental Engineering) – 92.9% ($3,230)
  23. NTU Civil Engineering – 92.9% ($3,100)
  24. NTU Maritime Studies – 92.5% ($3,050)
  25. NUS Bachelor of Engineering (Computer Engineering) – 92.4% ($3,500)
  26. NUS Bachelor of Computing (Information Systems) – 92.0% ($3,500)
  27. SMU Accountancy (4-year programme) – 91.4% ($2,875)
  28. NUS Bachelor of Business Administration (Hons) – 90.6% ($3,520)
  29. NUS Bachelor of Business Administration (Accountancy) – 89.8% ($2,838)
  30. NTU Business and Computing – 89.3% ($3,450)
  31. NUS Bachelor of Science (Real Estate) – 89.2% ($3,000)
  32. SMU Economics (4-year programme) Cum Laude and above – 89.1% ($3,800)
  33. NTU Computer Engineering – 88.8% ($3,400)
  34. NUS Bachelor of Engineering (Mechanical Engineering) – 88.5% ($3,200)
  35. NTU Electrical And Electronic Engineering – 88.4% ($3,200)
  36. NUS Bachelor of Engineering (Electrical Engineering) – 88.1% ($3,300)
  37. NTU Mechanical Engineering – 87.8% ($3,100)
  38. NTU Mathematics & Economics – 87.0% ($3,200)
  39. SMU Business Management (4-year programme) – 86.4% ($3,333)
  40. NUS Bachelor of Computing (Computer Science) – 85.9% ($3,500)
  41. NUS Bachelor of Computing (Electronic Commerce) – 85.7% ($3,200)
  42. SMU Information Systems Management (4-year programme) Cum Laude and above – 84.2% ($4,050)
  43. SMU Social Sciences (4-year programme) – 84.1% ($3,000)
  44. SMU Economics (4-year programme) – 83.9% ($3,500)
  45. NUS Bachelor of Business Administration – 83.6% ($3,000)
  46. NTU Aerospace Engineering – 82.7% ($3,770)
  47. NTU Environmental Engineering – 82.2% ($3,000)
  48. NUS Bachelor of Computing (Communications and Media) – 82.1% ($3,088)
  49. NUS Bachelor of Applied Science (Hons) – 81.8% ($2,800)
  50. SMU Social Sciences (4-year programme) Cum Laude and above – 81.3% ($3,590)
  51. SMU Information Systems Management (4-year programme) – 80.6% ($3,350)
  52. NTU Business (3-yr direct Honours Programme) – 80.2% ($3,100)
  53. NUS Bachelor of Social Sciences – 80.1% ($3,250)
  54. NTU Mathematical Science – 79.7% ($3,200)
  55. NTU Economics – 78.4% ($3,200)
  56. NTU Communication Studies – 77.9% ($3,000)
  57. NTU Materials Engineering – 77.7% ($3,150)
  58. NUS Bachelor of Engineering (Biomedical Engineering) – 77.1% ($3,000)
  59. NUS Bachelor of Arts (Hons) – 76.6% ($3,300)
  60. NUS Bachelor of Engineering (Chemical Engineering) – 76.4% ($3,300)
  61. NTU Chemical And Biomolecular Engineering – 76.1% ($3,400)
  62. NUS Bachelor of Science (Hons) – 75.8% ($3,210)
  63. NTU Chinese – 75.8% ($3,000)
  64. NUS Bachelor of Engineering (Materials Science and Engineering) – 73.8% ($3,300)
  65. NTU Information Engineering And Media – 73.2% ($3,200)
  66. NTU Sports Science and Management – 69.7% ($3,000)
  67. NTU Bioengineering – 69.7% ($3,000)
  68. NTU Chemistry & Biological Chemistry – 68.3% ($3,100)
  69. NTU Art, Design & Media – 68.0% ($2,700)
  70. NTU Sociology – 67.9% ($3,100)
  71. NTU Linguistics And Multilingual Studies – 66.7% ($3,230)
  72. NUS Bachelor of Arts – 65.3% ($2,800)
  73. NTU Physics / Applied Physics – 63.2% ($3,100)
  74. NTU English – 63.0% ($3,100)
  75. NUS Bachelor of Engineering (Engineering Science) – 62.5% ($3,400)
  76. NUS Bachelor of Science – 61.4% ($3,000)
  77. NTU Biological Sciences – 60.8% ($3,000)
  78. NUS Bachelor of Arts (Industrial Design) – 59.1% ($2,565)
  79. NTU Psychology – 54.9% ($3,100)

Top 5 Announcements of Singapore Budget 2015

February 23rd, 2015

~
DPM Tharman has just outlined the Singapore Budget 2015 in parliament today.

The following are the 5 most significant announcements that we think our Salary.sg readers are most interested in:

Singapore Budget 2015

  1. 50% tax rebate – For YA2015, all individual taxpayers will enjoy a one-off tax rebate of 50%, up to a maximum rebate of $1,000. Start date: 2015 tax filing season.
  2. CPF income ceiling raised – The income ceiling for CPF contributions will be raised to $6k from the current $5k. Start date: 2016.
  3. Road tax rebate – Vehicle owners will enjoy a road tax rebate of 20% for cars, 60% for motorcycles and 100% for the small number of commercial vehicles using petrol. Effective period: 1 August 2015 to 31 July 2016. (However, petrol duties will go up by $0.20/litre for petrol of grade RON97 and above, and $0.15/litre for petrol below the RON97 grade.)
  4. Maid levy reduced – The current concessionary rate of $120/month will be cut further to a mere $60. Start date: May 2015.
  5. CDA, Edusave & PSEA top-ups – For younger Singaporeans, their Child Development Accounts (CDA), Edusave accounts and Post-Secondary Education Accounts (PSEA) will topped up. Start date: 2015. See this PDF for details.

~
To see more of such posts, please Like our Facebook page:

What Singapore Needs in Budget 2015

February 23rd, 2015

 
It’s that time of year again – in just a short while, Parliament will be poring over a new budget plan. So far we’ve made a lot of headway for the Singaporean worker, but there’s plenty more our workforce needs. Here’s what we think the best outcome will be:

Budget 2015

What is Budget 2015?

The Singapore budget dictates how the government spends our available funds. Each financial year (starts on 1st April and ends on 31st March of the next year), the government reviews the existing budget.

Changes are proposed and discussed in Parliament, and once it’s approved (along with the President’s assent), the budget is passed as the Supply Act.

Budget 2015 is of special importance to organisations like the National Trades Union Congress (NTUC). The budget allocation has great bearing on improving the lives of workers in Singapore, from young to old, high income to low and in all professions.
 

What Do We Need in Budget 2015?

As a fast growing country, Singapore’s cost of living rises rapidly. The country has a core inflation rate of 3%, much higher if you go by the Consumer Price Index (CPI), which includes private housing and transport.

Some jobs, particularly lower paying ones such as cleaners and assembly line workers, are not seeing wage increases that match inflation.

Singapore has also tightened the supply of foreign labour, which in theory should raise employment prospects for locals. However, this assumes that the positions once held by foreigners can be filled by Singaporeans.

This is problematic in highly specialised fields (if you don’t think so, ask the companies looking for someone who can rewrite a UNIX kernel or analyse coal mining sites!) As such, the follow-up to the tightening of labour laws should be intensive skills upgrading. There’s no point creating job openings that Singaporeans can’t fill.

Here’s how we’re hoping the government will address these, along with some other concerns:

  • Productivity Schemes that Support Progressively Higher Wages
  • Intensive Drive to Promote Skills Upgrading
  • Stepped Up Efforts to Help Mature Workers
  • Incentives for Family Oriented Companies

 

1. Productivity Schemes that Support Progressively Higher Wages

Pushing for higher wages is tricky – even if companies are forced to give in (unlikely), the long term effect is a wage price spiral:

When higher wages don’t match productivity, the price of goods rise across the board. This hits consumers first, which causes them to press for higher wages, which then raises costs even further, etc. In essence, we’d be trying to combat inflation by causing more inflation.

The alternative is a productivity drive. When companies are able to produce more goods (and / or better goods), they generate more revenue. This in turn leads to better bonuses and wages. It also has the advantage of killing your boss’s “we have no budget for raises” excuse.

So we’re hoping budget 2015 sees incentives for productivity, that also reward workers. Some examples could be more technology grants, such as IDA’s iSprint, NTUC’s Inclusive Growth Programme (IGP) and the IRAS’s Productivity & Innovation Credit (PIC).

These grants subsidise companies that invest in new technologies, thus enhancing productivity and giving the country a technological edge. As these new technologies often require new skill sets, it is also a chance for workers to be trained and to justify higher wages.

We’d also like more grants for process based productivity drives. Some companies are hampered by a failure to re-organise, rather than by a need for more software or machinery.

For example, a courier company might potentially improve productivity with small changes to its drivers’ routes. However, implementing such a change could carry a risk of service failure (e.g. the drivers get lost for the first few days). That could end up costing hundreds of thousands of dollars.

At present, grants are mostly given for more tangible forms of productivity improvements (e.g. buying machines to speed up assembly lines). Unsurprising, since it is difficult to qualify claims that are more abstract.

But that’s no reason to try. The government could consider, for example, subsidies in the cost of accredited expert consultants. The more we help companies make money, the more our workers get paid.
 

2. Intensive Drive to Promote Skills Upgrading

Skills upgrading is a mandatory part of the productivity drive (if we replace a whole assembly line with robots, we’d better have jobs waiting for the former human employees).

We already have this in the form of Workforce Skills Qualifications (WSQ). However, an area that needs more attention are adult education subsidies. Most WSQ courses are geared toward highly specific certifications, such as the license to operate a forklift or be a welder. However, we should consider funding a deeper sort of upgrade – such as diploma or degree courses for older workers.

Some workers may not have had academic aptitudes or opportunities earlier in life; but at this point in their career, a combination of formal education and tempered experience would make them powerful contributors to the economy.

These career upgrades are beyond the scope of certification courses. Thus far, we have counted on workers taking their own initiative to pay for such an upgrade, or for companies to provide scholarships for their employees.

While this is has served us well before, economies such as China and India are rapidly developing, and catching up with us. The Singaporean workforce has to raise its competitive edge, and if our traditional means aren’t fast enough then maybe a government effort will spur it.
 

3. Stepped Up Efforts to Help Mature Workers

We’ve made progress with the re-employment act, which is great. What we need to pay attention to now are mature workers who want to return to the workforce.

Imagine if you retired when you were 45, but suffered a financial difficulty five years later. If you need a job at age 50, it’s a tough call – and you don’t benefit from the re-employment act either.

Now there are subsidies for hiring older workers, but take-up rates can always be improved. In particular, we’d like to see funding for new start-ups or small businesses to hire older workers – entrepreneurship is traditionally (and unnecessarily) considered the province of the young.

By encouraging budding news businesses to take on older workers, our entrepreneurs gain the benefit of experienced workers. By being in a smaller company, older workers will also have more input (which are complementary to senior positions they may have held before), and a more flexible employer.
 

4. Incentives for Family Oriented Companies

We need a comprehensive telecommuting initiative. Reward companies that allow employees to work from home, particularly new parents.

This will decrease traffic jams, allow employees to pay more attention to their family, and mitigate costs like company cars and transport allowances. All the cost of some funding and subsdised equipment.

Companies should also receive more funding to support longer maternity and paternity leave. We’re not about to say it will raise the birth rate (there’s no way to prove that causal link), but it does raise productivity. New parents are invariably worried about their children; move them back to the office too soon, and most will be wondering if they picked the right babysitter – not whether the dates on their budget reports are correct.

None of these are new ideas, but they do have to be stepped up.

With the reduction in foreign labour, businesses are in a tight squeeze. We have a limited time to fill the positions that we pushed the government for; and more than ever, workers and employers need to rush to raise their game.

Budget 2015 doesn’t have to be new and revolutionary – all the basics are in place. But we need to step up the existing programs, if the Singaporean worker is to stay competitive.

To see more of such posts, please Like our Facebook page:

How Big Is Your 2015 CNY Hong Bao?

February 19th, 2015

~ Here’s wishing a very Happy Chinese New Year to all our readers! For those who you who are receiving red packets, here’s a tool to compare how BIG your red packet is. Click the image below to start: If you are interested in the market rate of red packets, check out this Salary.sg post [...]

Read the full article at How Big Is Your 2015 CNY Hong Bao?

Compare Your Income To 10 Years Ago

February 2nd, 2015

~ Things are getting expensive, but is your income increasing at a rate that matches inflation? The following are the official annual CPI inflation rates for Singapore since 1980, published by The Department of Statistics (government agency). Inflation figures: 1980 to 1989: 8.5% 8.2% 3.9% 1.2% 2.6% 0.5% -1.4% 0.5% 1.5% 2.4% 1990 to 1999: [...]

Read the full article at Compare Your Income To 10 Years Ago

Android, iPhone and iPad Apps For Your Parents To Check Singapore Stock Prices

January 25th, 2015

~ If your parents had been using the now-defunct Teletext to monitor stock prices, the new SGX Stocks 股 App is the perfect app for them. Fast and easy to use, this app lets your folks easily track up-to-the-minute prices of their shares on their smart phones and even tablet devices (i.e. Android tablets and [...]

Read the full article at Android, iPhone and iPad Apps For Your Parents To Check Singapore Stock Prices

Five Retirement Myths that Singaporeans Should Stop Believing

January 16th, 2015

~ Retirement is an increasingly contentious issue in Singapore. The issues are varied, ranging from the adequacy of the Central Provident Fund (CPF) to the rising cost of living. Amid all the coffee shop talk and internet flame wars, some persistent myths have begun to emerge. You probably know more than one of these: Retirees [...]

Read the full article at Five Retirement Myths that Singaporeans Should Stop Believing

Compare Your Household Income 2014

December 23rd, 2014

~ For households living in HDB 5-room and executive flats, the average monthly household income is $11,199. For condo households, the figure is $19,340. For landed households, it is $23,994. This is according to the Key Household Income Trends 2013 report published by the Singapore Department of Statistics. To see more of such posts, please [...]

Read the full article at Compare Your Household Income 2014

If you are not a millionaire, you shouldn’t retire, say DBS financial experts

December 5th, 2014

~ In this ST article, DBS financial experts calculated that S$900,000 is needed to fund a S$3,500 monthly payout during retirement. You need to be a millionaire in order to retire. This is cause for concern. I believe the S$900,000 figure is the net asset figure, i.e. total assets minus liabilities (debt). If it is [...]

Read the full article at If you are not a millionaire, you shouldn’t retire, say DBS financial experts

Civil Service Bonus End-2014

November 25th, 2014

~ All civil servants will get a total of 1.8 months of bonus at this year end, according to this PSD press release. This bonus consists of the standard one-month NPAA (which is commonly called the “13th month bonus”) and 0.8 month of AVC. The acronym NPAA stands for “Non-Pensionable Annual Allowance”, while AVC stands [...]

Read the full article at Civil Service Bonus End-2014