10 university degrees with the highest starting salary in Singapore (2024)

10 university degrees with the highest starting salary in Singapore (2024)
PHOTO: Pexels

A university degree in Singapore isn't cheap. For example, a bachelor's degree from the National University of Singapore (NUS) can cost you anywhere from S$8,250 a year to S$30,200 a year.

Given the cost, you might want to consider a degree with a high starting salary for graduates in Singapore. This can help you to maximise your return on investment.

Here are 10 of the highest starting salary degrees in Singapore for 2024 and their 10th percentile?entry points for polytechnic and A-Level graduates. The salaries are based on the Ministry of Education's?Graduate Employment Survey (GES) in 2023.

1. NUS Law: S$7,000/month

According to the GES in 2023, the average fresh graduate with an NUS Law degree has a basic monthly salary of?S$7,000.

This is the highest median basic salary of any degree in the survey.

Here was the 10th percentile entry point for this degree course in 2023.

Course Qualification 10th Percentile Entry Point
NUS Bachelor of Laws A-Level 85 Rank Points
Polytechnic Diploma 3.75 GPA

2. SMU Law: SGD 6,500/month

According to the GES in 2023, the average fresh graduate with an SMU Law degree has a basic monthly salary of?S$6,500.

This is the second highest median basic salary of any degree in the survey.

Here was the 10th percentile entry point for this degree course in 2023.

Course Qualification 10th Percentile Entry Point
NUS Bachelor of Computing in Computer Science A-Level 83.75 Rank Points
Polytechnic Diploma

3. NTU Double Degree in Business and Computer Engineering/Computing: S$6,200/month

According to the GES in 2023, the average fresh graduate with an NTU Double Degree in Business and Computer Engineering/Computing has a basic monthly salary of?S$6,200.

This is the third highest median basic salary of any degree in the survey.

Here was the 10th percentile entry point for the degrees in this degree course in 2023.

Course Qualification 10th Percentile Entry Point
NTU Bachelor of Business A-Level 73.75 Rank Points
Polytechnic Diploma 3.64 GPA
NTU Bachelor of Engineering in Computer Engineering A-Level 75 Rank Points
Polytechnic Diploma 3.60 GPA
NTU Bachelor of Engineering in Computer Science A-Level 83.75 Rank Points
Polytechnic Diploma 3.72 GPA

4. NUS Computer Science: S$6,181/month

According to the GES in 2023, the average fresh graduate with an NUS Computer Science degree has a basic monthly salary of?S$6,181.

This is the fourth highest median basic salary of any degree in the survey.

Here was the 10th percentile entry point for this degree course in 2023.

Course Qualification 10th Percentile Entry Point
NUS Bachelor of Computing in Computer Science A-Level 85 Rank Points
Polytechnic Diploma 3.84 GPA

5. NUS Business Analytics: S$5,500/month

According to the GES in 2023, the average fresh graduate with an NUS Business Analytics degree has a basic monthly salary of?S$5,500.

This is the fifth highest median basic salary of any degree in the survey.

Here was the 10th percentile entry point for this degree course in 2023.

Course Qualification 10th Percentile Entry Point
NUS Bachelor of Science in Business Analytics A-Level 85 Rank Points
Polytechnic Diploma 3.78 GPA

6. NUS Computer Engineering, NUS Information Systems, NUS Information Security: S$5,450/month

According to the GES in 2023, the average fresh graduate with an NUS Computer Engineering, Information Systems or Information Security degree has a basic monthly salary of?S$5,450.

This is the sixth highest median basic salary of any degree in the survey.

Here were the 10th percentile entry points for these degree courses in 2023.

Course Qualification 10th Percentile Entry Point
NUS Bachelor of Engineering in Computer Engineering A-Level 82.5 Rank Points
Polytechnic Diploma 3.85 GPA
NUS Bachelor of Computing in Information Systems A-Level 83.75 Rank Points
Polytechnic Diploma 3.77 GPA
NUS Bachelor of Computing in Information Security A-Level 85 Rank Points
Polytechnic Diploma 3.89 GPA

7. NTU Double Degree in Engineering and Economics: S$5,285/month

According to the GES in 2023, the average NTU Double Degree in Engineering and Economics fresh graduate has a monthly basic salary of?S$5,285.

This is the seventh highest median basic salary of any degree in the survey.

Here was the 10th percentile entry point for the NTU Economics degree course in 2023.

Course Qualification 10th Percentile Entry Point
NTU Bachelor of Social Science in Economics A-Level 77.5 Rank Points
Polytechnic Diploma 3.76 GPA

The 10th percentile entry point for an engineering degree course in NTU varies based on engineering specialisation.

8. SMU Information Systems: S$5,250/month

According to the GES in 2023, the average fresh graduate with an SMU Information Systems degree has a basic monthly salary of?S$5,250.

This is the seventh highest median basic salary of any degree in the survey.

Here was the 10th percentile entry point for this degree course in 2023.

Course Qualification 10th Percentile Entry Point
SMU Bachelor of Science in Information Systems A-Level 75 Rank Points
Polytechnic Diploma 3.71 GPA

9. NTU Computer Science: S$5,200/month

According to the GES in 2023, the average NTU Computer Science fresh graduate has a monthly basic salary of?S$5,200.

This is the eighth highest median basic salary of any degree in the survey.

Here was the 10th percentile entry point for this degree course in 2023.

Course Qualification 10th Percentile Entry Point
NTU Bachelor of Engineering in Computer Science A-Level 83.75 Rank Points
Polytechnic Diploma 3.72 GPA

10. NTU Medicine: S$4,700/month

According to the GES in 2023, the average NTU Medicine fresh graduate has a monthly basic salary of?S$4,700.

This is the ninth highest median basic salary of any degree in the survey.

Here was the 10th percentile entry point for this degree course in 2023.

Course Qualification 10th Percentile Entry Point
NTU Bachelor of Medicine & Bachelor of Surgery (MBBS) A-Level 85 Rank Points
Polytechnic Diploma

Tuition fee loans for the highest starting salary degrees

The degrees above each boast a high graduate salary in Singapore in previous years. Although they can help you to build wealth quickly after graduation, you might need help initially with footing the tuition fees.

A?tuition fee loan?could be the solution.

How does a tuition fee loan work?

A tuition fee loan is a type of loan that you can take to cover your school fees and finance your education. You don’t have to pay back the loan when you’re studying, and the interest rate on the loan can be 0% during the course of your studies. This means that the loan provider will not charge you interest until you graduate and begin working.

How do you pay back a tuition fee loan?

Most education loans offer flexible repayment schemes. This means that you don’t have to return the money and interest within a short period of time after graduation. For example, the OCBC Frank Education Loan has three repayment options: Standard, Graduated and Graduated Plus. These options allow you to choose when to start paying off the principal sum and interest of your loan.

How do you choose a tuition fee loan?

There are some factors to consider when choosing a student loan to fund your education. These include the processing fee, the interest rate on your loan, the maximum principal sum of the loan and the tenure of the loan. The income of your guarantor may also affect your choice of loan.

Here are some of the?best education loans in Singapore?to help you pay for your degree.

Best tuition fee loan for local studies: OCBC FRANK education loan

Consider this if?you require an education loan for a local university

? OCBC FRANK Education Loan
Processing Fee 2.5%
Interest Rate 4.50%
Tenure 1-8 Years
Max Principal S$150,000 or 10x monthly income of guarantor
Annual Income Requirement of Guarantor S$24,000

Best tuition fee loan for low-income students: Maybank education loan

Consider this if you require a student loan with a low minimum income requirement for part-time studies

? Maybank Education Loan
Processing Fee 1.5% – 2.0%
Interest Rate 4.50% – 4.78%
Tenure 1-8 Years
Max Principal S$200,000 or 8x monthly income of guarantor
Annual Income Requirement of Guarantor S$30,000

Best tuition fee loan with the lowest penalty fees: POSB further study assist

Consider this if?you need a student loan and are worried about making on-time payments

? POSB Further Study Assist – Preferred Institutions
Processing Fee 2.00%
Interest Rate 4.38%
Tenure 1-10
Max Principal S$80,000 or 10x combined monthly income of you and your guarantor
Annual Income Requirement of Guarantor S$24,000

Conclusion

Choosing which degree to take in university is a huge milestone for many of us here in Singapore. We hope that this article has helped you better understand what degrees you can pursue to get the most bang for your buck.

ALSO READ:?Highest paying jobs in Singapore 2023: Which industries pay 6-figure salaries?

This article was first published in ValueChampion.

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