We refer to the Ministry of Manpower’s (MOM) Yearbook of Manpower Statistics 2014,
The median gross monthly starting salary of ITE graduates in full-time permanent employment increased from $1,217 in 2007 to $1,410 in 2013. This is an increase of 15.9%.
Real pay down last 6 years?
Since inflation was about 24.2% from 2007 (CPI 93.2) to 2013 (CPI 115.8) – does it mean that the real increase was about minus 8.3% or about minus 1.3% per annum?
Less graduates working?
The proportion of fresh graduates who were economically active has decreased from 92.9% in 2007 to 81.7% in 2013.
The proportion of full-time permanent and part-time also decreased from
1.1% to 62.9% and 21.8% to 19.4%, respectively.
So, not only has real pay declined in the last 6 years – the number of those who worked also decreased.