Singapore Institute of Management (SIM) has again played second-fiddle to other local universities with worse employment prospects and lower salaries. According to the latest graduate employment report, SIM fresh grads saw their starting salaries stagnated at S$2,700 in 2017 and they are paid 18% lower than fresh grads from NUS, NTU and SMU.
More SIM fresh grads were unable to find a full-time job this year, with the number of part-timers increased by more than half from 6% in 2016 to 9.5% in 2017. 85.6% of the part-timers surveyed commented that they have “no choice” and that the Singapore employment market is terrible.
The worst local university is Singapore Institute of Technology, with 12% of it’s fresh graduates working part-time, up from 7.6% a year ago.
In the recent employment statistics by NUS, NTU and SMU, there is a similar trend of more fresh graduates becoming unemployable.
Foreigners are more employable than Singaporeans in Singapore because of a 17% CPF tax employers have to pay for locals. National Service has also proven to be highly disruptive, deterring employers from hiring Singaporean males. The imbalance is created from lax immigration policies that is going to worsen once the Trans-Pacific Pact is signed. The TPP allows businesses to over-write local employment laws like foreigner quota, paving the way for more cheap foreign labour.