Singapore-based financial blog that aims to educate people on personal finance, investments, retirement and their Central Provident Fund (CPF) matters.

Wednesday, 3 August 2016

Singapore University Graduates Salary Statistics 2016

11:37 Posted by cheez No comments

This year, Computing graduates are among those with the biggest increase in starting salaries. 
NUS and NTU computing degrees are new entrants to the top 10 rankings, as can be seen in the infographic
With Singapore rolling out the initiative of Smart Nation, we expect an even steeper increase in the salaries of these IT professionals in the years to come. 
It is definitely a sunrise industry and the one to be in if you are looking at making a comfortable living.  
As compared to the previous year, computing prospects has definitely gotten brighter.

Something to note is that these figures have not taken into account CPF deduction which is at 20% of the salary. 
CPF comes in very handy when making the first major purchase of any working adult, which is property. 
Assuming that one receives a salary of 4.5k, the monthly CPF deposit will be around 1.5k (you contribute 20% while your employer contributes another 17). 
When combined with spouse's salary, it is more than enough to cover the monthly mortgage in most cases.  The couple will just have to save up for the down payment.
Saving may be important but it is not the best method for accumulating wealth. 
It is advisable that graduates also pick up essential money management and investment skills to let their money work hard for them.

Guest post from Digital Senior
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