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

There will always be success and failure no matter what is the industry.

It is pointless to keep arguing over senseless things like what is “average” pay. At the end of the day, the only pay that matters is how much companies offer when you apply for jobs. The average pay for degree grads is a useless number for most of us.

Originally Posted by Unregistered

From MOM statistics, only 9% of our workforce between 35-39 years old makes more than $10k/month. However we have about 20% of the cohort who made it to local U 15 years ago. So if majority of this 20% makes more than $10K/month after 10 years, then the MOM statistics cannot be just 9%.

So it is more likely that 1/3 of grad makes more than $10K/month after 10 years as suggested earlier. 1/3 of 20% is about 7%. The remaining 2% making more than $10K/month is made up of non grad from local U.

Originally Posted by Unregistered

From MOM statistics, only 9% of our workforce between 35-39 years old makes more than $10k/month. However we have about 20% of the cohort who made it to local U 15 years ago. So if majority of this 20% makes more than $10K/month after 10 years, then the MOM statistics cannot be just 9%.

Those figures cannot be compared like that.

It is possible that:
Many women who are grads choose to drop out of the workforce.
Many of the elites have migrated.
Many Grads choose not to earn >10k, so as to have better work-life balance or other factors
Many of these grads could have started successful businesses, and no longer fall into this income category as I believe that data is only for employment income.

There are just too many factors to consider... We definitely cannot interpolate the data like that.

Originally Posted by Unregistered

Those figures cannot be compared like that.

It is possible that:
Many women who are grads choose to drop out of the workforce.
Many of the elites have migrated.
Many Grads choose not to earn >10k, so as to have better work-life balance or other factors
Many of these grads could have started successful businesses, and no longer fall into this income category as I believe that data is only for employment income.

There are just too many factors to consider... We definitely cannot interpolate the data like that.

As a ballpark figure, the analysis still makes a lot of sense to refute the claim that majority of grad earns more than $10K/month after 10 years. What you have cited above cannot explain why only 9% makes more than 10K.

Even if 20% of the 20% are woman who drop out, migrated or start own business, than is only 4%. And if most of the remaining 16% earns more than 10K, 80% of 16% will still works out to 13%, still way higher than the 9% which will include non-grad.

For Grad who chose not to earn more than 10K, it is quite an invalid point.

Originally Posted by Unregistered

Those figures cannot be compared like that.

It is possible that:
Many women who are grads choose to drop out of the workforce.
Many of the elites have migrated.
Many Grads choose not to earn >10k, so as to have better work-life balance or other factors
Many of these grads could have started successful businesses, and no longer fall into this income category as I believe that data is only for employment income.

There are just too many factors to consider... We definitely cannot interpolate the data like that.

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.

Originally Posted by Unregistered

As a ballpark figure, the analysis still makes a lot of sense to refute the claim that majority of grad earns more than $10K/month after 10 years. What you have cited above cannot explain why only 9% makes more than 10K.

Even if 20% of the 20% are woman who drop out, migrated or start own business, than is only 4%. And if most of the remaining 16% earns more than 10K, 80% of 16% will still works out to 13%, still way higher than the 9% which will include non-grad.

For Grad who chose not to earn more than 10K, it is quite an invalid point.

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.

Originally Posted by Unregistered

From MOM statistics, only 9% of our workforce between 35-39 years old makes more than $10k/month. However we have about 20% of the cohort who made it to local U 15 years ago. So if majority of this 20% makes more than $10K/month after 10 years, then the MOM statistics cannot be just 9%.

1st point: how do MOM calculate the 10k/mth? Is it annual salary divided by 12 = 10k?? or just the basic salary is 10k (excluding AWS/bonus...etc)

please comment.

Originally Posted by Unregistered

1st point: how do MOM calculate the 10k/mth? Is it annual salary divided by 12 = 10k?? or just the basic salary is 10k (excluding AWS/bonus...etc)

please comment.

Had a quick look at the mom website. It is based off basic monthly wage only.

This definitely skews the wages of singaporeans down. Especially when you take into account AWS + Bonuses + Comm + Allowances + OT which in many industries, form a significant sum.

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.

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.

Do your senior colleagues stay at 10k? How far above 10k can they hit? What percentage of them can hit above 15k, and 20k?

Thanks for sharing.