Fewer polytechnic grads get jobs in 2024, but salaries on the rise

The number of polytechnic graduates who found jobs fresh out of school fell to its lowest in years, surpassing even pandemic levels.

But salaries rose slightly, with humanities graduates commanding the highest salaries across the different courses.

According to the annual polytechnic graduate employment survey released Jan. 13, only 85.6 per cent of fresh polytechnic grads had jobs within six months of graduation.

This marks the first time the figure has slid below 90 per cent since 2020, amid Covid-19 disruptions to the job market.

The figure at the time was 87.4 per cent.

Slower employment growth

The survey, released by the five polytechnics in Singapore, attributed low levels of employment to "slower employment growth in 2024".

Of this figure, 49.2 per cent were in full-time permanent employment — significantly lower than 2023's 55.5 per cent.

Some 4.7 per cent of grads were freelancing, while 31.6 per cent reported being in part-time or temporary employment.

Unemployment rates were also high, having increased 6.3 percentage points in 2023 to 14.4 per cent in 2024.

About 11.3 per cent said they were still looking for a job, while the remainder said they were starting work soon, or working on a business venture.

Salaries up

On the other hand, salaries continued to inch up across the board.

The median gross monthly salary for poly grads was S$2,800 — a S$100 increase from last year.

Grads from the humanities and social sciences commanded the highest salaries at S$3,100, followed by health sciences grads with S$3,000.

Meanwhile, arts and sciences grads rounded up the bottom, with both courses producing graduates with a median salary of S$2,500.

Soh Wai Wah, principal and chief executive officer of Singapore Polytechnic, said the schools are "actively working to equip our students with the necessary skills and adaptability" amid a changing job landscape.

This includes strengthening industry partnerships, integrating AI literacy into the curriculum, and enhancing career guidance services.

"Our commitment is to ensure that our graduates are well-prepared for the future of work and can successfully launch fulfilling careers."

Top image from NYP/Facebook