S’PORE GRADUATE EARNS $2.4K, NEEDS TO PAY $1.2K IN EDUCATION LOANS PER MONTH

A netizen came across a forum thread discussing the ever increasing costs of education and the stagnating wage levels of local PMETs.

He even encountered one netizen who explained that as a graduate software engineer, he only earns a nett salary of $2,400. However, because he took a loan to study in a local university, he needs to pay $1,250 in university loans a month.

This means that he pays more than half his salary per month to the bank, leaving him only $1.2K a month for all his expenses.

Foreign software engineers from developing countries, in contrast, require far lower salaries and living expenses than local Singaporean engineers.

Our reader wrote: “Is low salary the real reason why we can’t find local university graduates to work in Software Engineering? Compared to United States average Software Engineer salary of USD $7,950 / month, Singapore local software engineers salary pales in comparison. Meanwhile middle management are paid $10,000 / month doing nothing. Is this the reason why we need CECA and more foreign talents?”

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