My views on the job market in Singapore

It’s that time of the year again when local fresh graduates enter the job market. I still remember the trepidation and fear I had when I graduated 7 years ago.  On one hand, I was pretty excited about having an income, being financially independent from my parents and having my own purchasing power. On the other hand, I was also worried about securing a job that comes with great prospect and good pay.

Many jobs but one career
First, the good news for fresh graduates: in this day and age, it is okay to job hop. The older generation of workers tend to believe in loyalty to company and would not jump ship for higher pay or job title.

In today’s context, employee loyalty is longer relevant in view of shorter market cycles. Nowadays, companies are quick to retrench workers during downturns, so if you overstay in your company, you might be the next one on the hit list. So it is alright to switch several jobs during the first few years of your job journey. But make sure you gained enough competencies, skills or niche knowledge from each job taken.

For fresh graduates, nothing is more important than gaining work experiences. Don’t be trapped in your own comfort zone. Jump if there is a need for career progression or pay rise. Remember, you can have many jobs in your job journey but ideally should have only one career. For example, you can be a teacher, head of department, principle, private tutor, etc, but ultimately, its a career in education.

You plan your own destiny
If you belong to the category of workers who believe that your boss or company plays a pivotal role in your career development, I think its time you wake up to the harsh reality. In this highly competitive dog-eat-dog society, it is every man for himself. Your boss would not care a hoot about your career advancement. You plan your own destiny and chart your own development. It’s your own responsibility to make sure that there is progression in your job, not your boss.

The issue of foreign talent
In the 80s, the mention of foreign workers conjured up images of highly educated westerners or low skilled Bangladesh workers or Filippino maids. Nowadays, they are virtually everywhere. You see them in the airport, restaurants, malls, offices, parks, etc. Sometimes it makes you wonder whether Singaporeans had already become minority race in Singapore.

Foreign talents compete with us in our very own land for every jobs. Nowadays even PMETs are not spared. One of my acquaintances told me that when he made a job posting looking for a designer, he received hundreds of resumes from foreigners but none from Singaporean!

I suppose foreigners are more hungrier than us and willing to come to work in Singapore even for a low pay job. In this respect, I hope fresh graduates realize how competitive it is right now with the influx of foreign talents in Singapore. They should remain hungry and grab any offers that comes along the way.

Magically yours,

SG Wealth Builder