How much do fresh uni grads (electrical engineers) earn, & how much 5-10 years later?

Originally Posted by Unregistered

Great discussion going guys, I agree with above on how we should not interpret MOM figures directly. I believe 10k is probably very common among degree grads (those straight to work from uni, exc people who upgrade halfway).

My experience is about there as well (6yrs 7.2k). My company is very transparent about salary ranges for the different job grades, so I know for sure what they pay roughly.

10k is about 3 levels above entry grads and the first managerial grade, most of my colleagues at this grade are mid to late 30s which is about 8-12 years work experience.

Hi

Thank for your input.

6yr exp and you reach 7.2k basic??? How to reach this figure if I stay in my 1st engineering company for 6 years consecutively, with average 3-5% annual increment? Promotion is also less than 10%.

Did you jump ship around? How many times?

A bunch of big cannon fairy here, most of you cannot even smell 5k come here to fantasize.

why do dumb idoits be engineers ? 22 year old china student already earning 4.8k at credit suisse lol

Originally Posted by Unregistered

Agree, MOM statistics are at national level and more for macro perspective. It was not collected to find out what is the average pay of deg grads in 10 years time, the conclusions some have made are overly simplistic and make a lot of assumptions.

To add to your list, there is huge proportion of poly/ITE grads who took up a degree while working in their early/mid 30s. These people will effectively have only a few years of post deg work experiences by late 30s and are likely to be paid lower at 3.5 – 5k. They will skew the whole data downwards because they are lumped under “degree educated from 35 – 39yrs old”

I usually prefer to look at specific studies from consultancies like Robert Walters, Michael Page, Hudsons etc or alumni studies done by NUS & SMU. While they may be a little bias, they are more specific based on actual hiring experience than general MOM statistics.

The MOM data showing 9% of those aged 35-39 earning more than $10K/month does not differentiate education level. Therefore those poly/ITE who took up a degree will not skew the data downwards. In fact, the 9% includes everyone aged their 35-39 who makes more than $10K/month and will include non-grad. If these non-grad makes up 2-3%, then only about 6% is left for grad. If majority of the 20% cohort who makes it to local U makes more than $10K/month, how can it be only 6%?

Originally Posted by Unregistered

Your figures you're quoted are very skewed. You're saying that only 20% of the grads are women? Also, only 20% of all women drop out?

I would expect the grad cohort to consist of 40-45% women at least, and out of that, at least 40% to drop out due to whatever reasons (health, family, passion, migration, part-time work). That excludes the men who willingly drop out, which will fall in at least the 20% region.

Grads who choose not to make >10k IS a valid point. In the late 30s/40s,, to many who are capable, making >10k is no longer important. I have personally seen many VPs (>12k) who choose to drop out for a variety of reasons from volunteering in church, family, start businesses or just to travel the world.

After a while, life isn't just all about money/work.

I think you misunderstood my statement. I was not saying only 20% of grad are women and only 20% of all women drop out. I said assume 20% of 20% (of the cohort) are woman who drop out, it will be 4% of the cohort.

For example; If out of 100 person only 20% made it to local U. And out of 20%, assume half (10%) are men and half(10%) are women, 4% of cohort would means 40% of women drop out. That is more than enough as I don't think 40% of grad women drop out of workforce. So if majority (say 80%) of remaining 16% still makes more than $10K/month, the % will be 13% just for grad alone. But MOM stats is showing 9% for all in the age group of 35-39 which include grad and non grad.

I don't refute the fact that many grad in their 30s makes more than $10K/month, I just don't believe they are the majority. I have many local graduates in their mid 30s applying for jobs in my companies and their existing and asking salaries are in the $6-8K, even from large MNCs.

Originally Posted by Unregistered

I think you misunderstood my statement. I was not saying only 20% of grad are women and only 20% of all women drop out. I said assume 20% of 20% (of the cohort) are woman who drop out, it will be 4% of the cohort.

For example; If out of 100 person only 20% made it to local U. And out of 20%, assume half (10%) are men and half(10%) are women, 4% of cohort would means 40% of women drop out. That is more than enough as I don't think 40% of grad women drop out of workforce. So if majority (say 80%) of remaining 16% still makes more than $10K/month, the % will be 13% just for grad alone. But MOM stats is showing 9% for all in the age group of 35-39 which include grad and non grad.

I don't refute the fact that many grad in their 30s makes more than $10K/month, I just don't believe they are the majority. I have many local graduates in their mid 30s applying for jobs in my companies and their existing and asking salaries are in the $6-8K, even from large MNCs.

I appreciate your sharing of realistic numbers.

You mentioned your company receives job applications with asking salaries in the 6-8k range. Do you have applicants coming from banking and financial services background? In general, do these finance professionals command higher salaries?