Business Degrees Not In Demand Anymore
 

The mainstream media is apparently telling us that business degrees are no longer in demand. We are told a law degree can command a salary as high as $8,500 while arts and science courses are getting popular now.

On the front page of yesterday's Business Times printed edition:
Also on front page of today's Sunday Times printed edition:
Before students flock to these other arts and science degree courses, maybe they should take a loot at our Dumping Ground rankings, which we derived from - guess-what - the graduate employment surveys from NUS, NTU and SMU.

http://www.salary.sg/2009/business-d...emand-anymore/

4517
 

At a dialogue session with Gan Kim Yong, a participant asked: "As a fresh grad, do I really have to accept a blue-collar job? And if so, will it affect my application for PMET position after the crisis?"
Gan's answer suggests grads should take up blue collar jobs.
Read at http://www.channelnewsasia.com/stories/singaporelocalnews...1/.html

4519
 

the 8.5k is clearly a one-off in this kind of market. the top 4 local law firms are only offering 4k now. even less at smaller law firms. and with the influx from the graduating batch of smu law students, expect salaries to be even more depressed.

the demand just isn't there now... not only for business grads.

4520
 

tom, 4k is still a lot for the hundreds of jobless biz grads waiting to become blue collar workers.

4523
 

That law firm that gave $8.5 K is kinda illogical.

Firstly, if it is true that top law firms are giving 4K...then its really ridiculous that a firm will pay more than twice ...

Unless this girl is really special and twice as efficient as those hired by the top 4 law firms.

Sorry speaking from a return on investment view point

4527
 

The 4k is only for those that are retained. There is a significant increase in law grads not retained after their pupillage this year.

4531
 

Gan Kim Yong is good man. He gave up his dream job - teaching & become minister.

4532
 

Hi Lawyer,

Significant increase in law grads not retained after their pupillage?

Does this mean they are sort of fired? Where do they go?

SGDividends

4535
 

good man, you goon. he's an oms scholar who went to cambridge, became an elite 'AO' civil servant upon graduation, and went on smooth sailingly to be natsteel ceo before joining politics. the teacher guy is another senior-level minister, you goon.

4549
 

Despite of what the mainstream media is saying, it is still worthwhile to take business degrees. The current downturn is affecting all sectors including the financial sectors. By the time you completed your business degree, the economy would have recovered by then. Singapore is a financial hub in this region and I don't see why business degrees are a lousy bet.

4555
 

still in banking too. unfortunately for some (i estimate abt 10%), they have been retrenched. so if u have the stomach for this risk of being laid off (rather low in my opinion), banking is still a very attractive sector. it pays much better compared to other sectors for such a 'risk' u take on. but it's hard to get in at this pt in time as banks are simply not hiring or are hiring very selectively. i pity the freshies cos once u start off in another sector, it's harder later to switch- u'd then be competing with other pple like u as well as other freshies then. i know, cos i managed to switch years ago, just barely.

4559
 

banking sucks...i got out recently and i am now earning more and enjoying my work more in another industry

4561
 

can we know which banking co were u in ?

4562
 

goldman sachs

4563
 

I agree that it is not wise to conclude business degree is not good from what is said in Sunday Times.

Eventually, things learned in Arts courses like some European Studies(or whatever regions studies), Political Science are less useful both in job and in life compared to Business Studies.

If I am entering uni now, I would definitely prefer Business to arts and social sciences.

First is that both can become a teacher or work in government stat board as these 2 career options don't need a specialized degree, just any good honors degree.

Second is that you will more useful things in Business Studies.

Third is that if you can make it into the lucrative banking and finance sector as a fresh graduate and work there for some years before being retrenched. I don't see why MOE won't employed you as a teacher. Bear in mind that MOE also got recruit mid-career entry.

I already sort of known the smell of our government and the type of news being reported in local media.

After a few years of encouraging own citizens in business/entrepreneurship (after life science trend), together with phenomenon created by Rich Dad Poor Dad, you can see that top A level students flocking to business studies in NUS/NTU/SMU, then no one wants to study engineering and it become a dumping ground.(No matter what the trend is, Medicine and Lawyer courses still got high demand).

Now the government wants to simulate demand for other courses, that's why you see Mediacorp got a drama encouraging engineering.(P.S. Mediacorp seems to be acting as a agent for spreading government messages, with the IR nearly completed, I foresee that there will be more dramas encouraging us not to gamble, by now, already got more than 2 dramas before with anti-gambling messages already)

Before deciding on your courses, take into considerations your interest or at least what you confirm dislikes, rather than flocking to this or that based on the trends that the government created/mainstream media.

Remember the life science trend lesson.

4564
 

you are not one of those who lost billions at work & earn billions in bonus ??

4565
 

of course not...if i am...i dont think i will be here talking to you :)

4566
 

having gs on ur resume is definitely a gd thing. r u in mgmt consulting now? care to share why u left gs and how u got into another industry? thanks in advance for sharing.

4568
 

left GS because i got a better offer elsewhere....though i can definitely make alot more in future if i stay in GS...i think the life out of GS is definitely more enjoyable...good money doesnt always guarantee you a better life...i rather make a little lesser to have a more balanced and enjoyable lifestyle

4569
 

people always say that they dont mind working long hours if they are paid well (esp in banking)...but when they are in it for a few years...they will dread it and look for their way out...its common especially in the IB environment

4570
 

when i was still in GS..i was earning more than most others in other industries and i was driving a Audi TT...but so what? i dont even get the chance to flaunt my car or $ as i will usually either be working in office or recuperating (after a long busy week or day) at home

4571
 

some work long hours but some don't. i bet there are those around you in gs that don't work long hours and yet get fat paychecks and enjoy life. the lucky ones. i'm one of them, but not in a ib setting. not getting ib comp but high enough to be in the Audi TT league. :)
so care to reveal - no need specifics - where u r working now? what pays as well as ib? mgmt consulting or administrative service? oil & gas?

4579
 

banking2, of course there are people who work shorter hours and yet earn a fat paycheck but what i am saying is the general people in GS. Obviously i know you are trying very hard to tell all of us that you work short hours and yet you are getting a fat pay check. Dont worry, i am sure everyone here got your hint. Well i have no idea what is your definition of "fat" paycheck as it differs from one person to another. To my ex-boss, 2-5mil/year is considered a fat pay check but to me, 500k/year and above is "fat" enough. There will always be someone who is earning more than you and there will always be someone who is earning less so i guess this is very subjective and i believe that we should not be too full of ourselves even though we might be doing well. It is not important to reveal my current industry. Like what i have said previously, i might be getting less $ now but i fully enjoy it.

4593
 

its all relative, dun get too upset over it. as long as your lifestyle is manageable and comfortable be contented.

I do noe of folks in SG who earn less than 500 per mth and the folks who can afford to bum around and yet gets millions a year.

so...?

4597
 

No longer in banking, would you know how much does someone from product origination side (not investment banking) typically earn in an international bank after 4 to 5 years? Would they earn more than investment banking people? What's the career progression for such guys?

4655
 

Science jobs do not pay well. I have a PhD and pay is only $4.8k per month AFTER 4 YEARS EXPERIENCE.

4656
 

Try to become a professor. The pay is somewhat better.