We refer to the Ministry ofManpower’s (MOM) Yearbook of Manpowe Statistics 2014,
The median gross monthly starting salary of university graduates in full-time permanent employment increased from $2,750 in 2007 to $3,050 in 2013.
This is an increase of 11.0%.
Real pay down last 6 years?
Since inflation was about 24.2% from 2007 (CPI 93.2) to 2013 (CPI 115.8) – does it mean that the real increase was about minus 13.2% or about minus 2.1% per annum?
Less graduates working?
The proportion of fresh graduates who were economically active has decreased from 94.5% in 2007 to 89.3% in 2013.
The proportion of full-time permanent also decreased from . 89.8% to 83.4%
So, not only has real pay declined in the last 6 years – the number of those who worked also decreased.
Negative pay rise for at least 8 years?
From our previous analysis of university graduates starting pay before 2007, it appears that real starting pay increase may have been negative for at least about 8 years already.
If anyone has data for even earlier periods, like before 2005, we would be grateful for any assistance in this regard.
Polytechnics pay also negative?
The median gross monthly starting salary of polytechnic graduates in full-time permanent employment increased from $1,700 in 2007 to $2.000 in 2013.
This is an increase of 17.6%.
Since inflation was about 24.2% from 2007 (CPI 93.2) to 2013 (CPI 115.8) – does it mean that the real increase was about minus 6.6% or about minus 1.1% per annum?
The proportion of fresh graduates who were economically active has decreased from 93.0% in 2007 to 89.8% in 2013.
The proportion of full-time permanent also decreased from 75.3% to 62.7%.
So, not only has real pay declined in the last 6 years – the number of those who worked also decreased.
Part-timers from 35 to 30 hours?
For both university and polytechnic graduates, the statistics for those in full-time permanent employment highlighted above may even be worse, as the definition of a part-time worker was increased from 30 to 35 hours a week from 2009.
This article was written by SY Lee and Leong Sze Hian.
