Most university graduates prefer to work in banking, finance sector: survey
By Pearl Forss, Channel NewsAsia | Posted: 12 September 2007 1654 hrs

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SINGAPORE : Most entry-level university graduates in Singapore prefer to look for jobs in the banking and finance sector.

They include even those doing engineering and other non-business studies.

This is according to an online survey of 2,835 entry-level graduates across the three main local universities.

The 2007 JobsFactory Employers of Choice Survey found that seven out of the top 10 preferred employers were financial institutions.

The most popular private sector employer was Citibank, followed by Credit Suisse First Boston, with Deutsche Bank and JP Morgan & Chase tied in third position.

Barclays Capital Global Services came in at 6th position, Merrill Lynch at 7th and Goldman Sachs at 10th spot.

Local banks were not rated as highly as their foreign counterparts. DBS Bank was at the 14th position, UOB 29th, and OCBC 43rd.

Last year's top employer, Singapore Airlines, lost to the banks to take 5th position.

Meanwhile, oil companies ExxonMobil and Shell were placed 8th and 9th respectively in the overall rankings.

When asked what makes an employer of choice, the respondents cited "good career growth and opportunities" and "values its people" as the top two criteria.

This was followed by "attractive pay, bonuses and other monetary compensation".

As for the expected pay for their first job, the majority (37 percent) expected between S$30,001 and S$36,000 per year, including bonuses and variable pay.

This is equivalent to S$2,300 to S$2,800 per month in basic wages, with a 13th month bonus payout.

As for expectations on their first promotion, most (77 percent) expected to be promoted by their second year of work. - CNA/ms