Starting salaries of fresh grads from NUS, NTU, SMU & SUSS [Class of 2023]

On the whole, the median gross monthly salary among fresh graduates in full-time permanent employment was S$4,313, up from S$4,200 in 2022.

The Class of 2023 from National University of Singapore (NUS), Nanyang Technological University (NTU), Singapore Management University (SMU), and the Singapore University of Social Sciences (SUSS) are seeing an increase in median gross monthly salaries compared to previous years — even despite a moderation in employment rates amidst slower economic growth.

Around 12,300 recent graduates from full-time programmes at NUS, NTU, SMU, and SUSS took part in the 2023 Joint Autonomous Universities Graduate Employment Survey (JAUGES), resulting in a response rate of 74%. They were surveyed on their employment status as at 1 November 2023, approximately six months after the completion of their final examinations.

Among the 10,900 respondents in the labour force, 89.6% were employed within six months of completing their final examinations — this marks a decline in comparison to 93.8% recorded in 2022. Of these:

• 84.1% were in full-time permanent employment, (87.5% in 2022)
• 1.5% were freelancing (1.8% in 2022)
• 4.0% were in part-time/temporary employment (4.5% in 2022)
• 1.1% were in involuntary part-time/temporary employment (compared to 0.8% in 2022)

For comparison, in the three years prior to the pandemic (2017 – 2019), an average of 89.9% of the respondents in the labour force were employed; 80.4% were in full-time permanent employment, and 2.1% were freelancing.

On the whole, the median gross monthly salary among fresh graduates in full-time permanent employment in 2023 was S$4,313, a welcome increase compared to S$4,200 in 2022. 

The full breakdown is as follows:

National University of Singapore

The National University of Singapore (NUS) maintained its trend of strong employment rates and higher starting salaries earned amongst its graduates in 2023.

For this latest edition, 5,582 out of a total of 7,629 fresh NUS graduates from the Class of 2023, and 436 out of 819 follow-up NUS graduates, participated in the joint survey.

With over nine in 10 (90.5%) NUS fresh graduates employed within six months after final exams, this was a slight dip from the 93.9% in the 2022 survey. Within the same period, 85.4% of NUS fresh graduates secured full-time permanent employment. Another 3.5% of NUS fresh graduates in the labour force have either accepted a job offer and are pending commencement of duty, or are actively starting a business venture.

The survey also revealed that there was a growth in the mean gross monthly salary of fresh graduates in full-time permanent employment from S$4,808 in 2022 to record S$4,875 in 2023. The median gross monthly salary of fresh graduates from NUS in full-time permanent employment also increased to S$4,400 in 2023 from S$4,300 in 2022.

Graduates from 25 courses in arts and social sciences, business, computing, design and engineering, law, nursing, science, and music are either fetching higher or maintaining similar starting salaries as graduates the year before. In particular, median starting salaries for graduates from arts and social sciences, law, and science have risen continuously over the past three years.

Highest-earning courses by median gross monthly salary:

• Bachelor of Laws: S$7,000
• Bachelor of Engineering (Computer Engineering): S$5,595
• Bachelor of Computing (Information Systems): S$5,500
• Bachelor of Science (Business Analytics): S$5,500
• Bachelor of Business Administration: S$5,167

Nanyang Technological University

Close to nine in 10 graduates of the Nanyang Technological University (NTU) Class of 2023 found employment in the labour force within six months after completing their final examinations.

To note, the 4,522 NTU graduate respondents to the survey include 27 biomedical sciences & Chinese medicine graduates, and 71 medicine graduates from the Class of 2022 who took part in a follow-up survey.

In terms of salaries, the survey recorded a mean gross monthly salary of S$4,511 for fresh NTU graduates in full-time permanent employment — an increase from S$4,443 in 2022. The median gross monthly salary also grew, recording S$4,250 compared to S$4,200 in 2022.

Highest-earning courses by median gross monthly salary:

• Double Degree in Business and Computer Engineering/Computing: S$6,210
• Double Degree in Engineering and Economics: S$5,405
• Computer Engineering: S$5,400
• Data Science and Artificial Intelligence: S$5,250
• Computer Science: S$5,200

Singapore Management University

Fresh graduates from Singapore Management University’s (SMU) recorded a 92.3% rate of employment across all seven of the university’s degree programmes.

A total of 1,717 of the 2,257 SMU alumni (76.1%) who graduated in 2023 took part in the survey.

Of the total respondents, 92.3% of SMU fresh graduates in the labour force gained employment within six months of completing their final examinations. More specifically, 68.4% of fresh graduates were offered full-time permanent jobs before graduation; among those who were on full-time permanent employment, 52.5% were offered employment through internships, which are compulsory for SMU undergraduates.

In terms of salaries, both mean and median gross monthly salaries remained largely unchanged from 2022 figures, at around $4,890 and $4,500 respectively.

The top three industries of employment for SMU graduates were financial and insurance, information & communication, and legal, accounting and auditing.

Highest-earning courses by median gross monthly salary:

• (Law) Cum Laude and above: S$7,000
• Law: S$7,000
• (Computer Science) Cum Laude above: S$6,250
• Computer Science: S$5,800
• (Information Systems) Cum Laude and above: S$5,625

Social University of Social Sciences

The Singapore University of Social Sciences (SUSS) recorded nearly nine in 10 full-time SUSS graduates in employment within six months of their final examinations last year; of this, nearly eight in 10 held full-time positions.

Notably, disciplines such as Supply Chain Management and Accountancy recorded employment rates exceeding 94%.

A total of 587 out of the 781 full-time graduates from the Class of 2023 participated in the survey, equivalent to a response rate of 75%.

Remarkably, the mean and median gross monthly salaries for those in full-time permanent employment also increased to S$3,986 and S$3,700 from compared to S$3,833 and S$3,600 in 2022, respectively. Of the remaining graduates, a number have pursued meaningful endeavours through or alongside part-time roles.

Highest-earning courses by median gross monthly salary:

• Bachelor of Science in Business Analytics: S$4,800
• Bachelor of Public Safety and Security: S$4,691
• Bachelor of Science in Finance: S$4,500
• Bachelor of Science in Supply Chain Management: S$4,000

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