REAL GRADUATE STARTING PAY DECLINED 9% FOR PAST 7 YEARS

NUS grads among the world's most employable

I refer to the article “NUS grads among the world’s most employable” (Straits Times, Nov 13).

It states that “The median gross monthly salary of fresh NUS graduates in full-time permanent employment was $3,200 last year, compared with $3,000 for 2013.”

According to the Singapore Yearbook of Manpower Statistics 2014 (page H30) – the median gross monthly starting salary of university graduates in full-time permanent employment was $2,750 in 2007.

Graduates’ real starting pay declined 9% last 7 years?

Does this mean that their starting salaries increased by about 16.4 per cent ($3,200 divided by $2,750) in the last seven years?

Since inflation was about 25.5 per cent from 2007 (CPI 79.65) to 2014 (CPI 100) – does it mean that in real terms – their starting salaries declined by about -9.1 per cent (25.5 – 16.4%) in the last seven years?

9 in 10 found jobs or permanent jobs?

As to “Close to nine in 10 found jobs within six months of graduation” – a Channel NewsAsia news report in February said “the overall employment rate was 89.1 per cent, and about four in five of these graduates were employed in full-time permanent jobs within six months of completing their final examinations. This is similar to the employment rates achieved in 2013.”

So, what the above paragraph may mean is that the full-time employment rate was only about 71.3 per cent (80% of 89,1%).

Thus, “Close to nine in 10 found jobs within six months of graduation” – may mean that “nine in 10″ found full-time and part-time jobs, but only about 71.3 per cent found full-time permanent jobs.

For example, in the first category (Bachelor of Arts) in NUS’s 2014 Graduate Employment Survey – the full-time permanent employment rate was only 65.3 per cent.

LeongSzeHian