Hay Group Hong Kong www.haygroup.com/hk 1 For Immediate Release FRESH GRADUATE PAY HOLDS STEADY IN SINGAPORE Hay Group Singapore study shows Engineering, IT and Finance degrees are still in demandSingapore, 29th July, 2009–Even amidst the current recession, employers in Singapore are still recruiting andnot significantly reducing starting salaries for fresh graduates, according to a May 2009 survey by management consulting firm Hay Group. In a survey of over 100 companies in Singapore, Hay Group’s Fresh Graduate Pay survey 2009 also found that, in the current graduate hiring season, Engineering degree holders attract the highest starting salaries ofS$2,700 per month while the other jobs command an average of S$2,453 per month (Table 1). For diploma holders, IT & Telecommunications can command nearly one hundred dollars more than the average monthly salary of S$1,704. “While our survey reveals that companies are generally more conservative in paying fresh graduates, it is important to note about half of the companies polled are still hiring fresh graduates. In addition, some technical positions like Engineering are still experiencing some salary increases and this trend is likely to continue into the coming year ,” stated Christian Vo Phuoc, Country Head of Reward Information Services, Hay Group Singapore. In addition,employers are more optimistic about 2010, forecasting higher starting salaries for these four jobs, with Logistics/ Supply Chain going up to as high as S$2,900 per month. Table 1: Entry-level monthly salary for fresh graduates (S$) Year Job Diploma Degree Masters 2008 Engineering 1,700 2,625 2,946 IT & Telecommunications 1,740 2,600 3,000 Logistics/ Supply Chain 1,700 2,500 3,000 Finance & Accounting 1,700 2,500 2,800 Average for all jobs 1,697 2,458 2,866 2009 Engineering 1,700 2,700 2,900 IT & Telecommunications 1,800 2,500 3,000 Finance & Accounting 1,695 2,500 2,896 Logistics/ Supply Chain 1,700 2,450 3,000 Average for all jobs 1,704 2,453 2,904 2010 (forecast) Engineering 1,700 2,800 2,996 IT & Telecommunications 1,925 2,800 3,000 Logistics/ Supply Chain 1,750 2,900 - Finance & Accounting 1,690 2,600 2,996 Average for all jobs 1,736 2,655 2,999
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