Graduate outlook- Graduate schemes exist and are offered by large organisations such as IBM, BP and Shell but are highly competitive.
- Local graduates enter the employment market in May/June.
- Opportunities for graduates are available particularly in the engineering, biosciences, accounting, IT and technology sectors.
- The fastest growing areas are in business services, finance, IT, transport and logistics, education, healthcare, wholesale trade, petroleum and chemicals.
- Universities and higher education institutions provide careers support for graduates, details of which can be found on their individual websites (see postgraduate study). Details of internships and help with CVs, interviews and career planning are also available.
back to top The economyThe economy in Singapore has experienced a sustained period of growth since independence in 1965. However, recent years have been more difficult with the country experiencing recession in 2001 and the economy being affected by SARS (Severe Acute Respiratory Syndrome) in 2003. Despite these set-backs, the economy has recovered well and is forecast to see continued growth. The annual inflation rate in Singapore is comparatively low compared to other countries and is currently at 1% (Foreign and Commonwealth Office (FCO), July 2007). Traditionally opportunities exist in: - trade and industry;
- science and technology;
- tourism;
- industrial development.
Key growth industries are: - banking and finance;
- bio-medical sciences;
- chemicals;
- communications and media;
- electronics and precision engineering;
- healthcare;
- ICT;
- maritime services.
For further economic information, see the following Singapore government sites: back to top CompaniesInternational companies represented in Singapore include: - Rolls-Royce International Ltd;
- Standard Chartered Bank;
- British Airways;
- HSBC;
- PricewaterhouseCoopers;
- BAE Systems.
Long term investors include Glaxo SmithKline, Shell and BP, whilst more recent British investors include Tate and Lyle and Lucite. back to top UnemploymentThe unemployment rate in May 2007 stood at 3.6% (Statistics Singapore, July 2007). back to top Working practices and customs- There are eleven public holidays and eight major festivals in Singapore.
- There are public holidays at Easter and on Christmas Day.
- Chinese, Malay and Indian festivals are all celebrated, as well as National Day (9 August) and New Year’s Day. Many Chinese companies close for the Chinese New Year.
- Normal office hours are Monday to Friday, 9.00am to 1.00pm and 2.00pm to 5.00pm, plus Saturdays from 9.00am to 1.00pm.
- English is widely spoken in business circles.
- Punctuality is important.
- Salaries in Singapore are amongst the most competitive in Asia. See Ministry of Manpower (MOM) for details.
- Personal income tax rates are amongst the lowest in the world. See Inland Revenue Authority of Singapore (IRAS) for details.
back to top Language requirementsChinese Mandarin, English, Malay and Tamil are the official languages, though English is widely spoken and is the main language of commerce, used in administration, business and technology. Chinese dialects are widely used and there is a high level of bi-lingual capability. In the UK, the SOAS Language Centre provides language tuition in a wide range of Asian languages. To find out more about language resources, you may also want to check BBC Languages.
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Singapore: Job market
