Fewer S'pore fresh grads found jobs in 2024, but median starting salaries rose: Survey

Fewer fresh graduates from Singapore universities were able to find jobs shortly after graduating in 2024, although those who did, enjoyed higher median salaries, according to a recent survey.

The findings of the 2024 Joint Autonomous Universities Graduate Employment Survey (Jauges), which polled 12,500 university graduates, were published in a Feb. 24 report.

Those polled had recently graduated from full-time courses at the National University of Singapore (NUS), Nanyang Technological University (NTU), Singapore Management University (SMU), Singapore University of Technology and Design (SUTD), or Singapore University of Social Sciences (SUSS).

Employment rates down across the board

In 2024, 87.1 per cent of graduates interviewed said they had secured employment within six months of their final examinations, down from 89.6 per cent in 2023.

This continues a downward trend from 2022, where fresh graduates had reported an employment rate of 93.8 per cent.

Decline in employment rates were seen in occupations across the board, with the report attributing this to global economic uncertainties and lower hiring demand in 2024.

Fresh graduates in the health sciences cluster saw the sharpest decline, with 91.2 per cent finding jobs after graduation in 2024, compared to 97.6 per cent in 2023.

Of those in the workforce, 6 per cent were employed in part-time or temporary jobs after graduation, up from 4 per cent in 2023.

The proportion of freelancers also went up slightly from 1.5 per cent in 2023, to 1.6 per cent in 2024.

The health sciences, business, and information and digital technologies clusters saw the highest percentage of graduates in full-time permanent employment.

Higher median salaries for fresh grads

However, the report showed that fresh graduates in 2024 enjoyed a higher median gross monthly salary of S$4,500, up from S$4,317 in 2023.

An increase in median gross monthly salaries was seen across all clusters in 2024.

Fresh graduates in the business cluster saw the highest median salary increase of S$250, from S$4,150 in 2023 to S$4,400 in 2024.

The smallest salary increase was seen in the arts, design and media sector, with a S$60 increase from 2023's median salary of S$3,740, to S$3,800 in 2024.

More than 700 graduates from previous batches in courses such as architecture, law, medicine and pharmacy also participated in a 2024 follow-up survey, following the completion of their post-graduate practical training.

The graduates reported a 97.2 per cent employment rate, which is unchanged from 2023.

Of those in the workforce, the proportion in part-time or temporary employment increased to 2.1 per cent, compared to 0.6 per cent in 2023.

The median gross monthly salary of those graduates in full-time permanent jobs increased from S$6,000 in 2023 to S$6,250 in 2024.

You can find the survey results for individual universities (NUS, NTU, SMU, and SUTD) here.

Top image from Canva