Pay holds steady for some diploma, degree graduates

SINGAPORE: While polytechnics and the government are rolling out schemes to help fresh graduates get by in the tight job market, one survey presents another picture: More than 50 per cent of companies are hiring fresh diploma and degree graduates, with salaries at least in some sectors holding steady.

These are engineering, IT and telecommunications, finance and accounting, and logistics, according to a Hay Group’s Fresh Graduate Pay survey. It polled 100 companies in Singapore in May.

"Though companies are recruiting less, they are still willing to pay a fair wage," said Hay Group Singapore’s country head of reward information services, Mr Christian Vo Phuoc.

Engineering degree—holders attract the highest starting salaries of S$2,700 a month, about S$200 more than the other three professions. Employers are also more optimistic about 2010, forecasting higher starting salaries for these four jobs.

Ms Annie Yap, managing director of recruitment firm AYP Associates said the premium wage is due to a "shortage of engineers" arising from the move to high—tech manufacturing.

There is also always a demand for accounting graduates because fresh graduates usually stay with a firm for a few years "learning one area". Then, they typically move on, leaving vacancies behind.

The optimistic hiring expectations from logistics companies were a surprise though. Salaries as high as S$2,900 have been forecast for fresh degree—holders in 2010, up from S$2,450 this year.

"Logistics usually follow after manufacturing. You produce and then you ship out," said Ms Yap. Still, the market is good for fresh graduates now, she said.

Some, however told TODAY it had been extremely trying to find a job. Ms Kartika Liaw, 22, a business graduate from the Singapore Management University said she found her marketing job after sending out "more than 100" applications.

Temasek Polytechnic graduate Nurul Fathin Aida Omar, now with the Royal Bank of Scotland (RBS), said she would not have got her job if not for her internship at RBS earlier this year.

The 20—year—old Financial Business Informatics diploma holder’s starting pay is S$2,000 — higher than the average market rate.

source : http://sg.news.yahoo.com/cna/20090730/tap-587-pay-holds-steady-diploma-degree-231650b.html