SMU Graduates Achieve Robust Employment Rate and Higher Salaries

Singapore, 12 March 2012 (Monday) – Singapore Management University's (SMU) 2011 graduates have attained a robust overall employment rate¹ of 95.6% and higher starting salaries across five of the university's degree programmes. These healthy results were achieved despite the uncertain global economic conditions which had a dampening effect across several sectors, including the banking and finance sector during the second half of 2011.

SMU's Graduate Employment Survey 2011, an annual study carried out by the University, revealed that their graduates secured employment within six months after graduation, with as high as 60% clinching job offers even before they graduated. In addition, 62% of them also enjoyed multiple job offers, with two to eight offers per person.

Of the 1,231 SMU alumni who graduated between May and September 2011, 1,037 participated in the survey, which contributed to the overall response rate of 84.2%, higher than 2010's 81.7%.

The average gross monthly salary of SMU graduates in full-time permanent jobs is a record $3,388, since SMU graduated its pioneer cohort in 2004. This is an increase of about 3.6% over the previous year's average gross monthly salary².

The top 20% of the 2011 cohort commanded an average gross monthly salary of $5,039.

Professor Arnoud De Meyer, President, Singapore Management University said: “Our 2011 graduates have proven once again that their education at SMU has paid off and nurtured them into well-rounded, confident and articulate individuals ready for the marketplace. Our broad-based, holistic undergraduate educational experience provides a distinctive interactive pedagogy with personalised attention for every student. The multi-disciplinary perspectives and a culture of rigorous learning and innovation provide them with the breadth and depth, and versatility needed in the work place. Through community service, public speaking and leadership skills, coupled with the valuable work experience that they gained through their industry internships, SMU students have a distinctive edge in the job market and make them highly sought after by employers.”

The versatility of SMU graduates is demonstrated in the wide variety of professions and industries that they are employed in, ranging from banking and finance, accounting, consulting, services, the public and social sectors, and public relations. Graduates have also put the skills and qualities that they have acquired in SMU to good use, which includes business knowledge, innovative ideas and enterprising leadership.

SMU's 2011 graduates continue to do well across the six Schools.

The Information Systems Management (ISM) graduates drew an average of $3,637 per month, representing an increase of about 4.7%. The median gross monthly salary has also increased by 3.7% to $3,215. Those with Cum Laude or better, continue to enjoy a high average gross monthly salary of $4,294.

The School of Information Systems' emphasis on complex real-world projects, second majors with other schools, and specialisation tracks such as those in banking processes and technology, business intelligence and analytics, enterprise systems and solutions, and other aspects of advanced business technology, produce the strong competencies that are highly valued by employers.

SMU's Economics graduates garnered an average and median gross monthly salary of $3,559 and $3,200 respectively. Those with Cum Laude or better achieved a high average gross monthly salary of $3,999, which is an increase of 11.7% when compared to that of the 2010 cohort.

The BSc (Econs) programme provides a good balance of broad-based fundamentals and real-world knowledge. It gives graduates the competitive edge in the job market by opening doors to a wide variety of career opportunities, which includes banking and finance, public administration, and consulting and research positions.

The Business Management graduates' average gross monthly salary is $3,369. The median gross monthly increased to $3,020, when compared to that of the 2010 cohort. Those with Cum Laude or better were paid a higher average gross monthly salary of $3,777.

The Accountancy graduates' average gross monthly salary also increased to $3,267 in 2011's cohort. The median gross monthly increased by 9.4% to $2,900, when compared to that of the 2010 cohort. Those with Cum Laude or better achieved a higher average gross monthly salary of $3,671.

The average gross monthly salary of the Social Sciences graduates is $3,043, which is an increase of 7.8%. These graduates also achieved an increase in the median gross monthly salary, from $2,675 to $3,000, which is a 12.1% increase when compared to that of the 2010 cohort. Those with Cum Laude or better enjoy a higher average gross monthly salary of $3,450.

Please refer to Annex for the detailed figures.

SMU's sixth degree programme in Law graduated its pioneer cohort in 2011. These graduates were not included in the survey as they were undergoing training in the first six months of their graduation. The School of Law had indicated that almost all of the 106 students in the first batch taking SMU's Bachelor of Laws (LL.B) programme, had secured practice training contracts three months before graduation. SMU Law graduates have also been snapped up by prestigious international and local law firms, and by the Singapore Legal Service.

SMU has, from inception, pioneered its own unique brand of pedagogy. Modeled after the American system, the SMU curriculum is intentionally structured as four-year programmes to give undergraduates a holistic education which not only includes seminar-style classes that encourage free and open discussion, but also compulsory internship (including overseas internships), overseas study missions and compulsory community service work.

Through internships, students are also given a head-start in their careers. 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.

In particular, SMU pioneered “The Finishing Touch” course, whereby students have to pass a compulsory career preparation skills programme that includes career planning, interview and networking skills, business etiquette and managing workplace relationships.

Professor De Meyer commented, “I am confident that the SMU holistic educational experience imparting hard and soft skills, and heart skills will benefit our graduates, and continue to stand them in good stead in their professional careers and personal lives.”

Explanatory Note: 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 American 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. All SMU bachelor degrees are four-year full-time programmes.

¹The overall employment rate includes all types of full-time, part-time and temporary employment, as well as self-employment.

²The median gross monthly salary is $3,000.