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Thread: Graduates pay

  1. #21
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    Default Re: Graduates pay

    Really depending on what sector you are referring to. For IT, the spread is actually pretty wide, from as low as 1.7k to as high as 4.8k. I would say the majority is between 2.8 to 3.6 though.
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  2. #22
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    Default Re: Graduates pay

    whatever it is man.. just increase the salary levels in singapore! what we get is far off in comparison to other countries.. (understandable as we have lower tax rates, gst) but inflation is seriously going to kill us all in the following years.

  3. #23
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    Default Re: Graduates pay

    certain govt boards pay about $3.2 k to fresh grads.
    My prev coy pay $2.8k
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    Default Re: Graduates pay

    Quote Originally Posted by mrchua View Post
    whatever it is man.. just increase the salary levels in singapore! what we get is far off in comparison to other countries.. (understandable as we have lower tax rates, gst) but inflation is seriously going to kill us all in the following years.
    I agree with you.
    I'm here to learn.:flame:

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    Default Re: Graduates pay

    Quote Originally Posted by Splutter View Post
    Really depending on what sector you are referring to. For IT, the spread is actually pretty wide, from as low as 1.7k to as high as 4.8k. I would say the majority is between 2.8 to 3.6 though.
    Any idea about the banking sector but not private banking? I know that private bankers are paid very well. Would you say that between $2,400- $2,600 is reasonable for someone starting out in the banking line?
    I'm here to learn.:flame:

  6. #26
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    Default Re: Graduates pay

    i didn't know job market is so cheerful and didn't know it was also cheerful when I was hired as a fresh grad.

    you guys seem to be hanging around high paying fresh grads.
    “How fortunate for leaders that men do not think.” - Adolf Hitler

  7. #27

    Default Re: Graduates pay

    Quote Originally Posted by Splutter View Post
    Really depending on what sector you are referring to. For IT, the spread is actually pretty wide, from as low as 1.7k to as high as 4.8k. I would say the majority is between 2.8 to 3.6 though.
    Well, it is good to hear fresh grad is getting "higher" pay compared to few years ago.
    However, I believe many companies have neglected of those who joined them few years ago.
    Lets take for example a fresh grad who has joined a company at year 2003, assuming that his/her increment is 4% on average, which is consider good.

    For:
    2003, pay = 2500
    Year 2004, pay =2600
    Year 2005, pay 2704
    Year 2006, pay 2812
    Year 2007, pay 2924
    Year 2008, pay 3041

    With 6 years of working experience, how could he/she be paid less than a fresh grad?
    This is how said, the local HR policies work, which neglected that experience counts.

    Changing job is another interesting issue, where potential employer expect you to inform them your previous pay so that they could offer you the Delta (10 to 15% on average) difference and not pay you according to your job role and responsibilities.

    Well, thats life.

  8. #28
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    Default Re: Graduates pay

    Quote Originally Posted by scanner View Post
    Well, it is good to hear fresh grad is getting "higher" pay compared to few years ago.
    However, I believe many companies have neglected of those who joined them few years ago.
    Lets take for example a fresh grad who has joined a company at year 2003, assuming that his/her increment is 4% on average, which is consider good.

    For:
    2003, pay = 2500
    Year 2004, pay =2600
    Year 2005, pay 2704
    Year 2006, pay 2812
    Year 2007, pay 2924
    Year 2008, pay 3041

    With 6 years of working experience, how could he/she be paid less than a fresh grad?
    This is how said, the local HR policies work, which neglected that experience counts.

    Changing job is another interesting issue, where potential employer expect you to inform them your previous pay so that they could offer you the Delta (10 to 15% on average) difference and not pay you according to your job role and responsibilities.

    Well, thats life.

    It sure sucks right! Local HR policies should change to take into account one's working experience.

    Changing line - Someone I know changed from banking to education and was told to take a 30% pay cut. Highway robbery isn't it. Now, my friend he thinking of going back to his old line but banks seem more keen on fresh grads.

  9. #29
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    Default Re: Graduates pay

    Quote Originally Posted by scanner View Post
    Well, it is good to hear fresh grad is getting "higher" pay compared to few years ago.
    However, I believe many companies have neglected of those who joined them few years ago.
    Lets take for example a fresh grad who has joined a company at year 2003, assuming that his/her increment is 4% on average, which is consider good.

    For:
    2003, pay = 2500
    Year 2004, pay =2600
    Year 2005, pay 2704
    Year 2006, pay 2812
    Year 2007, pay 2924
    Year 2008, pay 3041

    With 6 years of working experience, how could he/she be paid less than a fresh grad?
    This is how said, the local HR policies work, which neglected that experience counts.

    Changing job is another interesting issue, where potential employer expect you to inform them your previous pay so that they could offer you the Delta (10 to 15% on average) difference and not pay you according to your job role and responsibilities.

    Well, thats life.
    if after 3 years and you've still not gotten any promotion or pay raise, you should start to ask is it you or the company....
    the promotion or pay raise should adjust your pay to the current market.
    Last edited by yanyewkay; 3rd June 2008 at 11:52 AM.
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  10. #30
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    Default Re: Graduates pay

    Quote Originally Posted by dancemania View Post
    It sure sucks right! Local HR policies should change to take into account one's working experience.

    Changing line - Someone I know changed from banking to education and was told to take a 30% pay cut. Highway robbery isn't it. Now, my friend he thinking of going back to his old line but banks seem more keen on fresh grads.
    education? I think your friend is in the education line for the wrong reason.
    “How fortunate for leaders that men do not think.” - Adolf Hitler

  11. #31

    Default Re: Graduates pay

    Quote Originally Posted by yanyewkay View Post
    if after 3 years and you've still not gotten any promotion or pay raise, you should start to ask is it you or the company....
    the promotion or pay raise should adjust your pay to the current market.
    Lets adjust the scenario again, lets take for example a fresh grad who has joined a company at year 2003, assuming that his/her increment is 4% on average, which is consider good and he got his promotion after 3 years in the company.

    For:
    Year 2003, pay 2500
    Year 2004, pay 2600
    Year 2005, pay 2704
    After promotion, pay increment by 10%(on average)
    Year 2006, pay 2974
    Year 2007, pay 3092
    After market adjustment (est 15%, which is consider very good)
    Year 2008, pay 3537

    Well, the pay is still below or almost equivalent as compared to fresh grad, today.
    Not all companies practice market rate adjustment, even if they do, they might categorize it under yearly ranking exercise, period.

    God's blessing, I do not fall under this group of people.
    I'm just merely stating from management point of view, its a sad case,
    where experience is not readily considered as compared to a fresh grad who is still green.
    Changes to HR policies can only be driven at very senior management level,
    CEO, Board of directors, etc.
    Last edited by scanner; 3rd June 2008 at 12:54 PM.

  12. #32
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    Default Re: Graduates pay

    Quote Originally Posted by yanyewkay View Post
    i didn't know job market is so cheerful and didn't know it was also cheerful when I was hired as a fresh grad.

    you guys seem to be hanging around high paying fresh grads.
    I am pretty shocked by some of the salary revelation too

    Some of the experienced IT guys I know are paid less than fresh grad with 1st class then.

    Time to ask for higher pay ???!?!?!?!?!?!?!
    Last edited by Static; 3rd June 2008 at 12:52 PM.
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  13. #33

    Default Re: Graduates pay

    Quote Originally Posted by sunboi80 View Post
    certain govt boards pay about $3.2 k to fresh grads.
    My prev coy pay $2.8k
    Even stat board also has this problem of having experience staff getting less/marginally higher than a fresh grad.
    Its boils down to the local HR culture, which might not put experience as the top criteria for pay justification.

    well, thats life.

  14. #34
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    Default Re: Graduates pay

    scanner, usually companies will revise their payouts every few years to match up to the market. I'm pretty sure my seniors all get higher pay than me, if not experience will count for nothing

    In any case, you have to compare apples to apples. There are high paying jobs out there that literally suck the life out of you. Some of my friends get off work earliest at 10pm, and usually they have to work 1 out of the 2 weekends every week. If you calculate salary per hour, they are not actually doing that well either.

    dancemania, you have to look if the bank is local/foreign and the scope of work the person is handling. Generally the more forward offices get better pay since they are the ones bringing in the revenue while the support /back office get lesser. Foreign banks also pay as much as 30%-100% better than local banks. Kinda sucky as the scope of work is more or less the same.

    Just to add, quite a number of statboards revised their pay last year to be very competitive. Some even outdoing private sectors though it's name doesn't look as good in the resume.
    Last edited by Splutter; 3rd June 2008 at 03:14 PM.
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  15. #35
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    Default Re: Graduates pay

    Quote Originally Posted by scanner View Post
    Lets adjust the scenario again, lets take for example a fresh grad who has joined a company at year 2003, assuming that his/her increment is 4% on average, which is consider good and he got his promotion after 3 years in the company.

    For:
    Year 2003, pay 2500
    Year 2004, pay 2600
    Year 2005, pay 2704
    After promotion, pay increment by 10%(on average)
    Year 2006, pay 2974
    Year 2007, pay 3092
    After market adjustment (est 15%, which is consider very good)
    Year 2008, pay 3537

    Well, the pay is still below or almost equivalent as compared to fresh grad, today.
    Not all companies practice market rate adjustment, even if they do, they might categorize it under yearly ranking exercise, period.

    God's blessing, I do not fall under this group of people.
    I'm just merely stating from management point of view, its a sad case,
    where experience is not readily considered as compared to a fresh grad who is still green.
    Changes to HR policies can only be driven at very senior management level,
    CEO, Board of directors, etc.
    interesting numbers, though I don't really agree with them.
    “How fortunate for leaders that men do not think.” - Adolf Hitler

  16. #36

    Default Re: Graduates pay

    Quote Originally Posted by yanyewkay View Post
    interesting numbers, though I don't really agree with them.
    Well, different companies have different formula in calculating the pay adjustment.
    For those, who is not aware, I'm just giving a general overview.

    But for sure, experience staff might not receive their due recognition in term of comparing pay to a fresh grad, unless they are extremely valuable to the company.

  17. #37

    Default Re: Graduates pay

    Quote Originally Posted by Splutter View Post
    scanner, usually companies will revise their payouts every few years to match up to the market.
    Yes, company will revise their payouts every few years to match up to the market, but to what % value?

    Quote Originally Posted by Splutter View Post
    I'm pretty sure my seniors all get higher pay than me, if not experience will count for nothing
    Yes maybe for your company (which is good), but how about the general markets?
    Thats my general view and sensing in my industry.

  18. #38
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    Default Re: Graduates pay

    My company starting pay is low. From what a new staff told me, he get around $1900. Have not change for the pass 7 yrs or so. Therefore, we have high turnover rate. Since we are not important, the company is ok with it. They also need not answer to shareholder as they don't ask and don't know and they are corporatised and also need money to pay the famous academic that they employ.

  19. #39
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    Default Re: Graduates pay

    Quote Originally Posted by alan1996 View Post
    My company starting pay is low. From what a new staff told me, he get around $1900. Have not change for the pass 7 yrs or so. Therefore, we have high turnover rate. Since we are not important, the company is ok with it. They also need not answer to shareholder as they don't ask and don't know and they are corporatised and also need money to pay the famous academic that they employ.
    Sounds an education industry. High turnover, low pay, poor benefits, lots of penalty? Am I right?

  20. #40
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    Default Re: Graduates pay

    If someone with 2 to 3 years relevant experience was offered $2k for a support role in a financial institution, would they accept the job?

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