The importance of education on your career - Evidence from research and newspaper articles

The importance of education on your career

One of the top 10 career struggles that people face in the world is --- under qualification.

It was recently published by straits times that graduate in Singapore sees marginal increase (1.6% to 2%) in their salary as fresh graduate from 2013. The salary of fresh graduate in 2014 are shown below:

AVERAGE STARTING PAY FOR DEGREE-HOLDERS IN 2014

AVERAGE STARTING PAY FOR DIPLOMA-HOLDERS IN 2014
Adopted from Straits Times, 26th August 2014

On a separate newspaper article by Today, it was found that graduate get up to 46% more than diploma holder:


Adopted from TODAY, 27th August 2014


The implications of these two articles is obvious:

1. As more and more people graduate with degree, it became so competitive that pay rise for fresh grads that is seen in the 20th century is no longer reflected in the 21st century

2. Instead, if you do not upgrade yourself in terms of education, the likely results is that you will suffer from lower starting salary and slower career progression.

While it is true that your career progression should depend on your other competencies such as your KSA (knowledge, skills and abilities), the vast number people who have gone on a degree after working for a few years with their diploma shows that certification still matters in Singapore.

Many of the diploma holders who eventually went for an upgrade told me that they cannot really get promoted without their degree. That also explains why private schools such as SIM and Kaplan are doing so well with the private degree that they are offering.

Career Planning - Further Education: 

Career planning should always incorporate upgrading or further studying plans. It is true that they are trying to make Singapore less focused on academic results but we know that without certifications, it is hard to move up the corporate ladder.

Thinking about upgrading yourself for a better career? Set a clear goal on the types of certification you want and set a date for you to start studying! Most of our clients shared with us that they would like to upgrade themselves but they always have issues doing so as they are too comfortable in their comfort zone. They know that they HAVE to do it yet they have been procrastinating. Sounds like you? Our advice to them? Start planning and get down with it! If you are looking at degrees, MBA or phd, we have a great deal of them in Singapore itself.

The steps we recommend:

1. Know the certification you want to take (while working, you should have some idea what you want to do. If you are lost, consider MBA if you already have a degree)

2. Identify the school you would like to go into and the types of study (online, distance, physical)

2. Find out the school fees and start budgeting for the course fees today by saving more or investing. (If you have problems with course fees, the school usually offers financial aid schemes. Check them out)

3. Set a month, semester or year that you would like to do the certification and sign up for it!