Some of you might have asked this before – Is taking a private degree worth it? As students, you may be unsure of what and where you should study. One of the considerations could be about your career prospects after graduation.
You might then ask, “why should I pursue a private degree?” The following reasons could convince you!
Why should you upgrade to a degree?
1) A degree can help you stay competitive in the job market
In 2019, 37.5% of Singapore’s resident workforce are degree holders. But just how many are private degree holders? Out of these degree holders, 21.7% of them have private degrees. As the workforce becomes more educated, having a degree enables you to keep up with the competition.
2) A degree can offer you better employment prospects
Can private degree holders secure a job after graduation? The answer is yes! In 2019, the employment rate for private degree holders aged 25-29 was 89.7%, equivalent to the employment rate of degree holders who graduated from local autonomous universities. Meanwhile, the 2019 employment rate of polytechnic diploma holders aged 25-29 was 82.7%.
3) A degree can increase your earning potential
Just how much can a private degree holder earn? In 2019, private degree holders aged 25-29 earned an average of $4,280 monthly, compared with $3,413 for polytechnic diploma holders. And the earning potential of degree holders is expected to increase over time. From 2014-2019, full-time employed resident degree holders earned a 2.2% annualised growth in their income after adjustment for inflation.
These are just some of the reasons why you should continue higher education. If you’re thinking of doing so, a private degree is worth considering as it can offer you bright prospects too.
Keen to explore your options? Find out more about our degree programmes here.
Source: Ministry of Manpower Labour Force in Singapore 2019
The Report on Labour Force in Singapore is a key annual report on Singapore’s labour market. It analyses the employment, unemployment, incomes, and working hours of Singapore’s labour force. Insights presented in this Report are based on data collected from the Comprehensive Labour Force Survey. Over the years, the information has helped individuals, businesses and policy-makers better understand the shifts in our labour market, and formulate policies and programmes to help improve the well-being of workers.
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