[12 March 2007]
100% SMU Graduates land jobs within six months of graduation and with 13% increase in starting salaries

Top 20% wage earners are getting S$4,630 with eight SMU graduates landing high-flying jobs that pay between S$8,000 to S$12,000 a month

Singapore, 12 March 2007 – Graduates of the Singapore Management University (SMU) last year are in high demand in the job market and are also receiving higher starting salaries. The third Graduate Employment Survey 2006 conducted by SMU revealed that, for the third straight year, 100% of economically active SMU graduates found jobs either before graduation or within six months after graduation. Among them, 94% were employed in full-time permanent jobs, while another 6% were on part-time or temporary employment.

Local and regional employers have quickly snapped up the third batch of SMU graduates, offering many of them jobs even before they have graduated. Eight in ten graduates (80%) received job offers even before they graduated or within the first month of graduation. Seven in ten (71%) of SMU graduates received two to more than ten job offers. In 2006, SMU organized more than 100 career events with prospective employers to allow students access to job opportunities.

Overall, SMU graduates were also offered higher starting salaries last year. The average gross monthly starting salary for SMU graduates in full-time permanent employment was S$2,850, a 13% increase from S$2,520 in 2005. Those who graduated with Cum Laude * or better received average monthly starting salaries of S$3,300, up by 15% from S$2,860 in 2005.

SMU also recorded a bumper crop of graduates with starting salaries above the median line. The top 20% wage earners amongst all SMU graduates are earning an average of S$4,630, a 21% increase from S$3,840 in 2005. Additionally, there are 26 SMU graduates who have landed high-flying jobs which pay them monthly starting salaries of between S$4,000 to S$12,000. Eight of them fall in the S$8,000 to S$12,000 a month category. Most are employed in investment banking. The survey also found that the highest paid SMU graduate is getting S$12,000 a month.

Average gross monthly salary of SMU's business management graduates has increased by about 8% to about S$2,800 from S$2,600 in 2005. For those who graduated Cum Laude or better, their average monthly salary is about S$3,170, up from about S$3,010 by 5%.

SMU's accountancy graduates are drawing higher starting salaries of S$2,880, up from S$2,250 in 2005 by 28%. For those who graduated Cum Laude or better, their average monthly salary is about S$3,700 up from S$2,420 in 2005 by 53%. This can be attributed to the recent adjustment in starting salaries by the big four accounting firms as well as half of the accounting cohort in SMU preferring to join banks, MNCs, consultancies and other financial institutions.

SMU's pioneer batch of economics graduates performed well in the job market, with an average starting salary of S$3,130. Those who graduated Cum Laude or better earn about S$3,230. Likewise, the first batch of information systems management graduates from SMU received average starting salaries of S$2,980.

SMU graduates were hired in a wide spectrum of professions, including financial, accounting, consulting and services sectors, with 48% in banking, finance, auditing and accounting. Additionally, about 3% of SMU graduates have secured jobs abroad or overseas postings in countries like UK, Australia, Saudi Arabia, Japan, China and Hong Kong. About 20% of SMU graduates accepted job offers at the companies in which they did internships during their vacations, which reflects the high regard in which employers hold SMU interns. The annual study surveyed 386 SMU alumni who graduated between May and September 2006 of which 353 responded, gathering the highest response rate ever achieved of 92%, up from last year's 86% response rate.

“The third group of graduates has made us proud with an impressive 100% employment rate. The buoyant job market together with the confidence employers have in the SMU education have allowed our graduates to secure employment quickly, many even before they have finished their university studies. We believe that SMU's approach of giving our students early exposure to the market through a combination of internships, research and consultancy projects for companies, case competitions, community service, overseas business study missions, together with a systematic career preparation programme by our career counselors give our graduates a head-start in the workplace,” said Professor Howard Hunter, President, Singapore Management University.

The SMU undergraduate degree programme adopts a curriculum that is broad-based yet focused and an interactive pedagogy tailored to producing executives who can thrive in the fast-paced 21st century global economy. All undergraduates are required to complete a minimum 10-week internship with a business organisation and 80 hours of community service. In addition, students have to pass a compulsory business etiquette and career preparation course called “The Finishing Touch” which imparts in them life skills such as dining etiquette, personal grooming, dressing, interview and networking skills. The Office of Career Services, through its start-to-finish approach in preparing students for the workplace, organises a variety of networking events, career talks and company visits, among other career preparation resources.

*Cum Laude and Merit Awards

SMU uses the cumulative Grade Point Average (GPA) criteria to identify degree candidates with academic excellence in the following award categories: Summa Cum Laude, Magna Cum Laude and Cum Laude. These are Latin awards adopted from the US system, and can be translated as with Highest Distinction, with High Distinction and with Distinction, respectively. All cum laude awards are highly selective. They do not equate to the various classes of degree honours conferred by universities that follow the British system of academic honours. A graduate needs a GPA of at least 3.40 out of 4.00 to be awarded Cum Laude.