According to the Graduate Employment Survey conducted by the Ministry of Education (MOE) in November 2021, based on a sample size on 7,737 graduates from the National University of Singapore (NUS), the degree holders of medicine and law are no longer the ones getting the highest starting pay.
While West Coast GRC MP Ang Wei Neng was “radical” for proposing expiry dates on degrees, the contents of his speech in the parliament chambers definitely highlighted one important fact:
The needs of the global market are changing; the salaries of various degree holdings change accordingly with the demand and supply too.
Without further ado, here are the Top 10 Degrees with the highest average starting pay.
Please note that the statistics being referred to is the Basic Monthly Salary, before employee’s CPF contributions are deducted. Similarly, bonuses, stock options, overtime payments, allowances, and other regular cash payments are excluded.
On the other hand, Gross Monthly Salary takes into account bonuses, allowances, et cetera, but the employee’s CPF contributions are still not deducted yet.
1: Bachelor of Computing (Computer Science) – $5,898
Coming in at the very top of the list is, surprisingly, the Bachelor of Computing (Computer Science).
From the given statistics, they make a basic monthly salary of $5,898, and at least 99.1% are employed in some form.
Their gross monthly income salary can be anywhere from $4,500 to $6,000.
2: Bachelor of Science (Business Analytics) – $5,437
Secondly, is the Bachelor of Science (Business Analytics), which mainly focuses on data, statistical analysis and reporting to help examine and analyse business performance, provide insights and recommendations to improve performance.
In a way, it’s quite similar to Computer Science but far more specialised.
The degree holders of Business Analytics earn an average starting salary of $5,437, though their gross monthly income is higher than the first place, ranging from $4,800 to $6,125.
Even better, the graduates boast a 100% employment rate, in full-time/permanent employment.
3: Bachelor of Law – $5,398
Although the Bachelor of Law has been pushed off its throne, Law bachelor’s degree holders still earn a fair average of $5,398 per month.
Their gross monthly salary can range anywhere from $4,500 to $6,000.
Their employment rate is 96.5%.
4: Bachelor of Engineering (Computer Engineering) – $5,345
Once is happenstance, twice is coincidence, thrice is a pattern.
Coming in fourth is the Bachelor of Engineering for Computer Engineering, with a basic monthly average salary of $5,345.
Technology-related graduates are definitely in high demand in this decade, wherein 97.14% of the survey participants in this category stated that they are already employed in some form.
Their gross monthly salary can start from $4,500 and scale up to $6,200.
5: Bachelor of Business Administration – $5,199
Fifth on the list is the Bachelor of Business Administration. The degree making a feature doesn’t come as any surprise, since Asian parents have always harped that you either have to be a doctor, lawyer, or be in business administration to be successful.
Nonetheless, it is a relevant and strong industry, where fresh graduates earn an average basic salary of $5,199 per month.
Compared to the first four however, it has a bigger deviation in terms of gross monthly salary, where the starting pay can be anywhere from $3,125 to $7,625.
6: Bachelor of Computing (Information Systems) – $5,087
Once more, the Bachelor of Computing makes an appearance, except these graduates are specialising in Information Systems. They fall short in wages compared to the first place, but they are well-paid with a basic monthly salary of $5,087.
Their gross monthly salary is relatively more stable, where degree holders can have a starting pay of $4,500 to $5,400.
7: Bachelor of Computing (Information Security) – $4,992
Following closely in seventh place is the Bachelor of Computing for Information Security.
The average basic monthly salary is $4,992, while their gross monthly salary can range from $4,305 to $5,500.
Compared to the 97.5% employment rate for Information Systems, Information Security graduates have a 100% employment rate.
Small victories for Information Security!
8: Bachelor of Science (Data Science and Analytics) – $4,819
For the graduates specialising in Data Science and Analytics in the Science Faculty, their starting basic monthly pay outstrips the peers by a fair bit, with a sum of $4,819.
In contrast, the normal Bachelor of Science with Honours degree holder makes an average of $3,665 per month, while those specialising in Pharmacy earn $3,733 on a monthly basis.
Their employment numbers are nothing to scoff at either, since 97.7% responded that they were employed in some capacity.
The global market is definitely pivoting in terms of their priorities.
9: Bachelor of Science with Honours from Yale-NUS College – $4,779
Oddly enough, the Science Bachelor with Honours Graduates from Yale-NUS College are better off than those in regular NUS, since their starting average pay is $4,779 per month.
The Ivy League “Yale” still holds a great deal of prestige and weight when it comes to determining the starting points of wages.
Their gross monthly income can fluctuate from $3,800 to $5,650, and 94.6% of the graduates are employed.
10: Bachelor of Science (Computational Biology) – $4,655
Last but not the least, is the Bachelor of Science for Computational Biology.
Although the graduates’ starting basic salary is $4,655, their employment rate is 100%.
Their gross monthly income can span from $4,000 to $5,000.
It should be stated that the statistics for Bachelor of Medicine and Surgery were not available in the GES, mostly because doctors tend to have their residency to serve afterwards, or they continue pursuing their studies instead of getting employed straight after receiving their Bachelor Degree.
However, the 12th place Bachelor of Dentistry deserves a mention, since degree holders have an average basic monthly salary of $4,256, and it boasts a 100% employment rate. However, it’s usually a bond with MOH, and should they go to the private sector after serving their bond, they’d be earning a lot more.
Surprisingly, Bachelor of Arts has stolen the 11th and 16th position on the list:
Graduates from the Yale-NUS College Bachelor of Arts of Honours have a monthly salary of $4,344, and graduates specialising in Industrial Design are making an average of $4,186 per month.
Meanwhile, degree holders of Engineering have snatched the 13th to 15th places.
Those majoring in Electrical Engineering, Industrial and Systems Engineering, and Engineering Science have an average basic monthly pay of $4,251, $4,237, and $4,189 respectively.
Their salary numbers really cut it close.
Featured Image: Arpan on Shutterstock / Shutterstock.com
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