10 university degrees with the highest starting salary in Singapore (2024)
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PUBLISHED ONMarch 09, 2024 7:30 AMBySihan Chia
A university degree in Singapore isn't cheap. For example, a bachelor's degree from the National University of Singapore (NUS) can cost you anywhere from S$8,250 a year to S$30,200 a year.
Given the cost, you might want to consider a degree with a high starting salary for graduates in Singapore. This can help you to maximise your return on investment.
Here are 10 of the highest starting salary degrees in Singapore for 2024 and their 10th percentile entry points for polytechnic and A-Level graduates. The salaries are based on the Ministry of Education's Graduate Employment Survey (GES) in 2023.
1. NUS Law: S$7,000/month
According to the GES in 2023, the average fresh graduate with an NUS Law degree has a basic monthly salary of S$7,000.
This is the highest median basic salary of any degree in the survey.
Here was the 10th percentile entry point for this degree course in 2023.
| Course | Qualification | 10th Percentile Entry Point |
|---|---|---|
| NUS Bachelor of Laws | A-Level | 85 Rank Points |
| Polytechnic Diploma | 3.75 GPA |
2. SMU Law: SGD 6,500/month
According to the GES in 2023, the average fresh graduate with an SMU Law degree has a basic monthly salary of S$6,500.
This is the second highest median basic salary of any degree in the survey.
Here was the 10th percentile entry point for this degree course in 2023.
| Course | Qualification | 10th Percentile Entry Point |
|---|---|---|
| NUS Bachelor of Computing in Computer Science | A-Level | 83.75 Rank Points |
| Polytechnic Diploma | – |
3. NTU Double Degree in Business and Computer Engineering/Computing: S$6,200/month
According to the GES in 2023, the average fresh graduate with an NTU Double Degree in Business and Computer Engineering/Computing has a basic monthly salary of S$6,200.
This is the third highest median basic salary of any degree in the survey.
Here was the 10th percentile entry point for the degrees in this degree course in 2023.
| Course | Qualification | 10th Percentile Entry Point |
|---|---|---|
| NTU Bachelor of Business | A-Level | 73.75 Rank Points |
| Polytechnic Diploma | 3.64 GPA | |
| NTU Bachelor of Engineering in Computer Engineering | A-Level | 75 Rank Points |
| Polytechnic Diploma | 3.60 GPA | |
| NTU Bachelor of Engineering in Computer Science | A-Level | 83.75 Rank Points |
| Polytechnic Diploma | 3.72 GPA |
4. NUS Computer Science: S$6,181/month
According to the GES in 2023, the average fresh graduate with an NUS Computer Science degree has a basic monthly salary of S$6,181.
This is the fourth highest median basic salary of any degree in the survey.
Here was the 10th percentile entry point for this degree course in 2023.
| Course | Qualification | 10th Percentile Entry Point |
|---|---|---|
| NUS Bachelor of Computing in Computer Science | A-Level | 85 Rank Points |
| Polytechnic Diploma | 3.84 GPA |
5. NUS Business Analytics: S$5,500/month
According to the GES in 2023, the average fresh graduate with an NUS Business Analytics degree has a basic monthly salary of S$5,500.
This is the fifth highest median basic salary of any degree in the survey.
Here was the 10th percentile entry point for this degree course in 2023.
| Course | Qualification | 10th Percentile Entry Point |
|---|---|---|
| NUS Bachelor of Science in Business Analytics | A-Level | 85 Rank Points |
| Polytechnic Diploma | 3.78 GPA |
6. NUS Computer Engineering, NUS Information Systems, NUS Information Security: S$5,450/month
According to the GES in 2023, the average fresh graduate with an NUS Computer Engineering, Information Systems or Information Security degree has a basic monthly salary of S$5,450.
This is the sixth highest median basic salary of any degree in the survey.
Here were the 10th percentile entry points for these degree courses in 2023.
| Course | Qualification | 10th Percentile Entry Point |
|---|---|---|
| NUS Bachelor of Engineering in Computer Engineering | A-Level | 82.5 Rank Points |
| Polytechnic Diploma | 3.85 GPA | |
| NUS Bachelor of Computing in Information Systems | A-Level | 83.75 Rank Points |
| Polytechnic Diploma | 3.77 GPA | |
| NUS Bachelor of Computing in Information Security | A-Level | 85 Rank Points |
| Polytechnic Diploma | 3.89 GPA |
7. NTU Double Degree in Engineering and Economics: S$5,285/month
According to the GES in 2023, the average NTU Double Degree in Engineering and Economics fresh graduate has a monthly basic salary of S$5,285.
This is the seventh highest median basic salary of any degree in the survey.
Here was the 10th percentile entry point for the NTU Economics degree course in 2023.
| Course | Qualification | 10th Percentile Entry Point |
|---|---|---|
| NTU Bachelor of Social Science in Economics | A-Level | 77.5 Rank Points |
| Polytechnic Diploma | 3.76 GPA |
The 10th percentile entry point for an engineering degree course in NTU varies based on engineering specialisation.
8. SMU Information Systems: S$5,250/month
According to the GES in 2023, the average fresh graduate with an SMU Information Systems degree has a basic monthly salary of S$5,250.
This is the seventh highest median basic salary of any degree in the survey.
Here was the 10th percentile entry point for this degree course in 2023.
| Course | Qualification | 10th Percentile Entry Point |
|---|---|---|
| SMU Bachelor of Science in Information Systems | A-Level | 75 Rank Points |
| Polytechnic Diploma | 3.71 GPA |
9. NTU Computer Science: S$5,200/month
According to the GES in 2023, the average NTU Computer Science fresh graduate has a monthly basic salary of S$5,200.
This is the eighth highest median basic salary of any degree in the survey.
Here was the 10th percentile entry point for this degree course in 2023.
| Course | Qualification | 10th Percentile Entry Point |
|---|---|---|
| NTU Bachelor of Engineering in Computer Science | A-Level | 83.75 Rank Points |
| Polytechnic Diploma | 3.72 GPA |
10. NTU Medicine: S$4,700/month
According to the GES in 2023, the average NTU Medicine fresh graduate has a monthly basic salary of S$4,700.
This is the ninth highest median basic salary of any degree in the survey.
Here was the 10th percentile entry point for this degree course in 2023.
| Course | Qualification | 10th Percentile Entry Point |
|---|---|---|
| NTU Bachelor of Medicine & Bachelor of Surgery (MBBS) | A-Level | 85 Rank Points |
| Polytechnic Diploma | – |
Tuition fee loans for the highest starting salary degrees
The degrees above each boast a high graduate salary in Singapore in previous years. Although they can help you to build wealth quickly after graduation, you might need help initially with footing the tuition fees.
A tuition fee loan could be the solution.
How does a tuition fee loan work?
A tuition fee loan is a type of loan that you can take to cover your school fees and finance your education. You don’t have to pay back the loan when you’re studying, and the interest rate on the loan can be 0% during the course of your studies. This means that the loan provider will not charge you interest until you graduate and begin working.
How do you pay back a tuition fee loan?
Most education loans offer flexible repayment schemes. This means that you don’t have to return the money and interest within a short period of time after graduation. For example, the OCBC Frank Education Loan has three repayment options: Standard, Graduated and Graduated Plus. These options allow you to choose when to start paying off the principal sum and interest of your loan.
How do you choose a tuition fee loan?
There are some factors to consider when choosing a student loan to fund your education. These include the processing fee, the interest rate on your loan, the maximum principal sum of the loan and the tenure of the loan. The income of your guarantor may also affect your choice of loan.
Here are some of the best education loans in Singapore to help you pay for your degree.
Best tuition fee loan for local studies: OCBC FRANK education loan
Consider this if you require an education loan for a local university
| OCBC FRANK Education Loan | |
|---|---|
| Processing Fee | 2.5% |
| Interest Rate | 4.50% |
| Tenure | 1-8 Years |
| Max Principal | S$150,000 or 10x monthly income of guarantor |
| Annual Income Requirement of Guarantor | S$24,000 |
Best tuition fee loan for low-income students: Maybank education loan
Consider this if you require a student loan with a low minimum income requirement for part-time studies
| Maybank Education Loan | |
|---|---|
| Processing Fee | 1.5% – 2.0% |
| Interest Rate | 4.50% – 4.78% |
| Tenure | 1-8 Years |
| Max Principal | S$200,000 or 8x monthly income of guarantor |
| Annual Income Requirement of Guarantor | S$30,000 |
Best tuition fee loan with the lowest penalty fees: POSB further study assist
Consider this if you need a student loan and are worried about making on-time payments
| POSB Further Study Assist – Preferred Institutions | |
|---|---|
| Processing Fee | 2.00% |
| Interest Rate | 4.38% |
| Tenure | 1-10 |
| Max Principal | S$80,000 or 10x combined monthly income of you and your guarantor |
| Annual Income Requirement of Guarantor | S$24,000 |
Conclusion
Choosing which degree to take in university is a huge milestone for many of us here in Singapore. We hope that this article has helped you better understand what degrees you can pursue to get the most bang for your buck.
ALSO READ: Highest paying jobs in Singapore 2023: Which industries pay 6-figure salaries?
This article was first published in ValueChampion.