Singapore is one of the most competitive and attractive destinations for graduates who are looking for employment opportunities in various sectors and industries. According to the Graduate Employment Survey 2022 conducted by the Singapore University of Social Sciences (SUSS), the employment outcomes for university graduates in Singapore were strong as the country transitioned to living with Covid-19. The survey revealed that the overall employment rate for SUSS graduates in 2022 was 94.9%, which was higher than the 93.6% in 2021. The median gross monthly salary for SUSS graduates in full-time permanent employment was S$3,800, which was also higher than the S$3,600 in 2021.
The survey also showed that the employment prospects for graduates varied by the field of study and the type of degree. The graduates from the School of Business had the highest employment rate of 97.4%, followed by the School of Humanities and Behavioural Sciences with 96.4%, and the School of Science and Technology with 94.1%. The graduates from the School of Law had the lowest employment rate of 85.7%, which was attributed to the oversupply of law graduates in the market. The graduates with a bachelor's degree had a higher employment rate of 95.5% than those with a master's degree with 91.8%. The graduates with a doctoral degree had the highest median gross monthly salary of S$7,500, followed by those with a master's degree with S$5,000, and those with a bachelor's degree with S$3,800.
The employment of graduates in Singapore in 2023 is expected to be positive, as the country recovers from the impact of the Covid-19 pandemic and adapts to the new normal. According to the Ministry of Manpower, the resident unemployment rate in Singapore declined from 4.1% in June 2021 to 3.5% in September 2021, and the number of job vacancies increased from 92,100 in June 2021 to 121,800 in September 2021. The ministry also projected that the labor market will continue to improve in 2023, as the economy grows by 4% to 6%, and the demand for workers increases in sectors such as information and communications, financial and insurance services, professional services, healthcare, and education.
The graduates in Singapore in 2023 will also benefit from the various initiatives and programs that the government and the universities have launched to support their employability and skills development. For example, the SGUnited Traineeships Programme, the SGUnited Mid-Career Pathways Programme, and the SGUnited Skills Programme provide graduates with opportunities to gain work experience, acquire industry-relevant skills, and access career guidance and coaching. The universities also offer various courses, workshops, and events to help graduates enhance their knowledge, competencies, and networks, such as the SUSS Lifelong Learning Credit, the SUSS Mentorship Support Grant, and the SUSS Resilience Series.
In conclusion, the employment of graduates in Singapore in 2023 is likely to be favorable, as the country emerges from the Covid-19 crisis and embraces the digital transformation. The graduates in Singapore in 2023 will have to be adaptable, resilient, and lifelong learners, to seize the opportunities and overcome the challenges in the dynamic and diverse labor market.
Tech Alliance edit team