Higher pay, better job prospects for fresh poly grads in 2023: Survey

SINGAPORE — Fresh polytechnic graduates commanded higher salaries and had better job prospects in 2023, according to a poll conducted by the five polytechnics in Singapore.

Results from the latest graduate employment survey (GES) released on Jan 12 showed that nearly 60 per cent of them landed full-time permanent jobs in 2023, inching upwards from 59 per cent in 2022 and about 58 per cent in 2021.

Overall, in 2023, 92.7 per cent of polytechnic graduates found permanent, freelance or part-time jobs within six months of graduation or after completion of full-time National Service (NS).

This is a slight increase from 91.8 per cent in 2022, continuing a steady improvement in job prospects as Singapore's economy gradually recovers from the Covid-19 pandemic.

The median gross monthly salary among graduates in full-time permanent employment grew by $200, from $2,600 in 2022 to $2,800 in 2023.

Graduates from health sciences, humanities and social sciences, and information and digital technologies took home higher pay than their peers from other courses.

A total of 8,065 out of 10,757 fresh polytechnic graduates in 2023 responded to the survey. They were asked about their employment status as at Oct 1, 2023 — about six months after graduation.

Also surveyed were 5,055 out of 8,739 graduates from 2020, who completed their full-time NS between April 1, 2022, and March 31, 2023.

Speaking on behalf of the Polytechnic GES committee, Republic Polytechnic principal Jeanne Liew said in a statement: "The confidence shown by employers in our polytechnic graduates is evident in the wage growth and stable employment rates. Our robust industry ties and progressive curriculum have nurtured graduates who are adaptable and resilient."

The unemployment rate went down from 8.2 per cent in 2022 to 7.3 per cent in 2023. At the height of the pandemic, the figure was 12.6 per cent in 2020.

The survey results found that five per cent of those polled in 2023 were freelancing and 28 per cent were in temporary or part-time work.

Similar to previous years, about half the polytechnic graduates in part-time or temporary employment indicated that they were concurrently pursuing or preparing to begin further studies.

Singapore's economy grew by 3.6 per cent in 2022 as its recovery from the pandemic gained traction. In 2023, economic growth eased to 1.2 per cent.

In a joint statement, the polytechnics — Singapore, Temasek, Ngee Ann, Nanyang and Republic — said they have continued to support their graduates by providing career guidance such as job matching and personalised coaching.

The institutions have also tapped their networks of industry partners for suitable job placement and apprenticeship opportunities for graduates, such as the SkillsFuture Work-Study Programme — where graduates are matched with a job related to their diplomas and undergo a 12 or 18-month training programme.

ALSO READ: '$20k to $30k would be good': Some people share how much salary they think is needed to live comfortably in Singapore

This article was first published in The Straits Times. Permission required for reproduction.