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Starting salary of new grads expected to rise by 2%

There's good news for fresh graduates in Singapore in the latest survey report released by the Hay group, a global talent consulting company.

Here are highlights of the survey, which covered 130 organisations, held in May:

- The starting salary for fresh grads rose by 2% compared to last year.

- Fresh grads with Bachelor Degrees are categorised into three levels, without Honors, with Honors (Second Lower) and with Honors (Second Upper). The average starting salary is $2,714, $2,822 and $2,876 respectively.

- Last year's average starting monthly pay was $2,688 for a Bachelor's Degree holder without Honors, $2,776 for a Bachelor's Degree holder with Second Lower Honors and $2,843 for a Bachelor's Degree holder with Second Upper Honors.

- One in six employers offered an average premium of $185 per month for local university graduates compared to non-local university graduates.

- The top three positions that recorded the highest salaries this year are Project Manager ($2,906 without honors), followed by Engineering ($2,885) and Research & Development ($2,788).

- The lowest pay among respondents was $1,841, slightly higher than last year's record $1,808.

- About one third of employers provide an average premium of $189 per month to male employees who completed National Service (NS). This would help them catch up with the same-age female graduates who do not have to perform NS.

Click here for more details: http://www.haygroup.com/sg/press/Details.aspx?ID=37579