Definitely a competitive offer. Not bad, not super good but I would consider an above average starting point. 4.2k x 15 months average (12 months + AWS + 2 months bonus) prorated for 12 months to compare to GES, is about 4.55k which is above the GES 2020 75th percentile for NTU Mech Eng FCH. Unless you have skill sets that really differentiate you from other candidates, this would likely be the competitive offer you can realistically get (54k - 56k base)

More importantly, I think you should assess is your interest in building a career for life in this field VS other industries. Also, work environment is a very important factor as well. Micron maybe ok for some but maybe be an absolute grind to others.

All the best!