SINGAPORE: There is a growing mismatch between fresh graduates’ salary expectations and the realities of the job market, as a recent report pointed out. Singaporeans who commented, however, asked about the bonuses of top executives, as well as the high salaries ministers receive.
A June 1 video from CNA titled “Fresh grads in Singapore may need to taper salary expectations amid uncertainty: Analysts” cited a survey from the Ministry of Manpower (MOM) of residents aged 22 to 28, which said that graduates in most fields earned less than they had anticipated when entering the workforce.
One-third of university graduates who rejected job offers cited low pay as the reason, showing that salary considerations were a major factor in job decisions. The other reasons for turning down job opportunities were the applicants deciding to wait for better opportunities or concerns about job interest, workplace culture, or career advancement prospects.
The report featured experts who said graduates often aim for higher starting salaries because they believe initial pay significantly influences future earnings and career progression. However, the survey found substantial gaps between expected and actual salaries, particularly among graduates in engineering, science, and information technology, who earned roughly S$500 to S$750 less than expected. The gap was even greater for graduates in business administration and natural and mathematical sciences. Graduates of law, education, and fine and applied arts courses generally met or exceeded their salary expectations.
Furthermore, while MOM expects wages to continue to rise, employers are likely to adopt a more cautious approach to salary increases due to global economic uncertainty and inflation concerns. Analysts warn that graduates who maintain unrealistic salary expectations may prolong their job search and risk missing valuable opportunities. Employers may also face challenges, including longer hiring processes and higher offer rejection rates. These conditions could contribute to underemployment, where individuals work in roles that do not fully utilise their skills.
What Singaporeans are saying
Netizens commenting on the piece understandably expressed dissatisfaction, given that the news affects the youngest cohort of workers who are struggling amid a tight job market, even as jobs are eaten away at by Artificial Intelligence.
The negative feelings appear to be further amplified by top executives of large companies bringing home millions in bonuses, as well as the high salaries that ministers receive, which are among the largest in the world.
“Ministers/MPs need to taper minimum 50% of their salaries,” a YouTube user wrote.
“Ministers should walk the talk,” another agreed.
“Then ask those in top management not to get fat bonuses every year,” a commenter added.
Others pointed out that some jobs in Singapore have been outsourced to foreign talent who were likely to have paid much less for education.
On Reddit, a user on the platform said that those who own property are the lucky ones.
“You know who the winners are? Only those who inherited properties from their grandparents or parents. One sliver of a shop space in Toa Payoh is going for 9k. Wow,” they wrote. /TISG
Read also: Jobseeker shares employer he interviewed with specifically looked for ‘job hoppers’
This article (‘Ministers should walk the talk’: Singaporeans react to advice for graduates to lower salary expectations) first appeared on The Independent Singapore News.
