Job prospects for non-graduates: Poly, uni grads' pay gap closing faster
Firms raising salaries of non-grad hires due to tight labour market
Published on Aug 30, 2014 8:55 AM
Graduates will continue to command a salary premium but a tight labour market is making employers raise the pay and job prospects of their non-graduate hires.
Employers and human resource experts say the time taken for a top diploma hire to close the pay gap with his graduate counterpart has shortened significantly.
Fresh poly graduates are typically paid around $500 less a month compared with new university graduates. A degree holder earns about $2,600 a month while a diploma holder draws about $2,100.
But after about two years on the job, top performing diploma holders can see their pay rise to match their graduate colleagues' salaries at the same level. Up until about five years ago, poly graduates had to work for about four years before their salaries caught up with those of graduates.
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