The number of polytechnic graduates who managed to secure employment after graduation decreased significantly in 2024, with only 85.6% of fresh graduates landing jobs within the first six months. This dip is the lowest recorded in years, even lower than the figures seen during the pandemic period. Despite this decline, there is a silver lining as salaries for polytechnic graduates have seen a slight increase, with humanities graduates leading the pack in terms of earning potential.
The annual polytechnic graduate employment survey, released on January 13, uncovered these concerning statistics. A worrisome trend noted in the report was the slower employment growth in 2024, a factor attributed as the primary reason for the decrease in job placements. Among the employed graduates, a significant drop was observed in the number of those in full-time permanent positions, reaching only 49.2% compared to the previous year’s 55.5%. Additionally, a portion of graduates resorted to freelancing (4.7%) or took up part-time or temporary roles (31.6%).
Unemployment rates surged to an alarming 14.4% in 2024, a steep increase of 6.3 percentage points from the previous year. While 11.3% of graduates continued their job search, the remaining graduates revealed plans of starting work soon or embarking on entrepreneurial endeavors.
On a brighter note, there was an upward trend in salaries for polytechnic graduates. The median gross monthly salary stood at S$2,800, marking a S$100 increase from the previous year. Notably, graduates from humanities and social sciences programs commanded the highest median salaries at S$3,100, closely followed by health sciences graduates earning S$3,000. Conversely, arts and sciences graduates fell on the lower end of the spectrum, with both fields yielding graduates with a median salary of S$2,500.
In response to these trends, Soh Wai Wah, principal and chief executive officer of Singapore Polytechnic, emphasized the institution’s commitment to preparing students for the evolving job market. He mentioned, “Our commitment is to ensure that our graduates are well-prepared for the future of work and can successfully launch fulfilling careers.”
These statistics underscore the challenges faced by polytechnic graduates in the current employment landscape, emphasizing the importance of continuous skill development and adaptability in navigating the ever-changing job market.
