Starting salary is only the beginning

2
Most highly paid (average monthly gross):
1. Law, NUS, 4-year course (S$4,770)
2. Information and Systems Management, SMU, 4-year course (S$4,547)
3. Medicine, NUS, 5-year course (S$3,852)

View the 2010 Graduate Employment Survey results of:

  • NUS (63kb .pdf)
  • NTU (62kb .pdf)
  • SMU (60kb .pdf)
Why do law graduates earn so much?
Simple. The annual intake of law students is limited. Besides, you don't see us importing many foreign talent. You can say the barrier to entry is rather high because laws in different countries are different.

As for high salaries in IFM, don't be deceived by those high salaries. I'd advise students deciding which course to enroll in not to lured by high starting salaries. Instead, look at what your interests and strengths are, whether the universities are increasing their intake of students in the subject, whether government policies support opening of the sector to foreign labour competition, and which industries are open to high competition especially from countries with cheaper labour.

By the way, these top 3 courses require studying 1 or 2 more years (compared to studying 3 years). Does the slightly higher starting salary justify the extra one or two years of studying? Graduates of 3-year courses go out to work earlier, stop paying school fees, start gaining working experience and earning money. These more than compensate for a relatively lower starting salary.

Don't forget that in the end, it's not the starting salary that matters but how well you perform in your chosen area (that determines your salary in the years ahead) and personal/job satistfaction that matters.

2 comments:

Anonymous said...

Well...the starting pay is always a critical factor for ppl choosing which coz to enrol in..Dun b fooled by the low starting pay of those in accountancy/business...as compared to the slightly higher starting pay in engineering! An acct grad whom works in big 4 firms after 5 yrs will have a salary much much higher than an engineer working in a MNC! Unless that engineer is very outstanding in his field of work, if not his pay will never increase much over the years!

Anonymous said...

Law graduates earn so much because they have to learn Sillypore's laws which are very different from other countries on earth. How different is it? Just consider that Con-You never lost a law suit in SG but has never ever won a law suit OUTSIDE SG!

There is NO judiciary independence from the Administration in SG. There is no trial by jury in SG.

So you need a set of lawyers who are only suited to Silly Laws