Average starting salary of SUTD graduates rises

More than 90% of fresh graduates were employed within six months of their final exams

Average starting salary of SUTD graduates rises
The median gross salary of fresh graduates in full-time permanent employment from the Singapore University of Technology and Design (SUTD) rose 8.33% to $3,650 per month in 2016 from $3,600 the previous year, the university announced on Wednesday.

Similarly, average gross monthly salary for the same group was $3,853 in 2016, compared to $3,709 in 2015. Results came from the Ministry of Employment’s (MOE’s) Graduate Employment Survey of SUTD graduates conducted in February 2017.

More than 90% of fresh graduates were employed within six months of completing their final examinations, according to the university. It added there was a 5.4 percentage point increase in the full-time permanent employment rate for engineering graduates compared to 2015.

SUTD is Singapore’s fourth publicly-funded university. It was established in 2009, in collaboration with the Massachusetts Institute of Technology. It’s first cohort of graduates finished in 2015.

“Despite challenging economic conditions, we are heartened that there continues to be strong demand for our technology- and design-trained students, and their high starting salaries show that employers value what our students can bring to the table,” said Thomas Magnanti, SUTD president.

The median monthly salary of fresh graduates from Nanyang Technological University, the National University of Singapore, and Singapore Management University in 2016 rose to a new high of $3,360 from the previous year’s $3,300, a joint graduate employment survey revealed last month.

Fewer fresh graduates (80.2%) secured permanent full-time jobs in 2016 compared to 2015 (83.1%). Contracting appears to have risen in popularity as a talent solution, according a survey by employment consultancy firm Michael Page.

“In Hong Kong and Singapore, more than half (60%) of companies surveyed currently use contractors, primarily to overcome challenges in permanent headcount approvals,” the firm said.


Related stories:
What salaries are Singapore graduates expecting?
How did Singapore’s labour market perform in 2016?
 

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