Decrease in full-time and part-time employment rates for Singapore’s private university graduates in 2023

Employment challenges are increasingly evident among graduates from private universities in Singapore, as fewer secured full-time jobs in 2023 compared to the previous year.

The latest findings from the Private Education Institution Graduate Employment Survey, conducted by SkillsFuture Singapore, revealed a noticeable dip in full-time employment rates among these graduates.

In 2023, only 58.7 percent of private university graduates landed full-time permanent jobs within six months of finishing their studies, a decline from 60.9 percent in 2022. The survey also indicated a decrease in the number of graduates engaging in part-time or temporary work, with 18.9 percent in 2023, down from 20.5 percent the year prior. Conversely, there was a slight increase in freelance work among graduates, rising to 5.7 percent from 5.1 percent.

This trend underscores a widening gap in job security between private university graduates and their counterparts from autonomous universities, where 84.1 percent secured full-time permanent roles within the same timeframe. The employment rates for part-time or temporary roles and freelance work among graduates from autonomous universities were significantly lower, at 4 percent and 1.5 percent respectively.

Despite the employment struggles, the median gross monthly pay for private university graduates in full-time positions did see an increase, rising to $3,400 in 2023 from $3,200 in 2022. Graduates from the Singapore Institute of Management reported the highest median salary among private institutions at $3,500, while those from Kaplan Higher Education Academy earned the least, with a median salary of $3,000.

The survey’s findings highlight a concerning disparity not only in employment rates but also in salary levels when compared to graduates from autonomous universities, who reported a starting median salary of $4,313. The competitive disadvantage for private university graduates is becoming more pronounced, affecting both their career prospects and financial stability.

As private universities continue to navigate these challenging employment landscapes, the increase in economically inactive graduates – those either unemployed and actively seeking work or stuck in involuntary part-time positions – has risen to 19.4 percent. This is substantially higher than the rates observed among graduates from autonomous universities and post-national service polytechnic graduates, at 7.9 percent and 3.8 percent respectively.

The results of this survey, which involved responses from 40.8 percent of the 9,100 fresh graduates from 26 private institutions, paint a stark picture of the job market dynamics facing today’s graduates from private educational backgrounds.