Singapore is known for its highly competitive and efficient education system. From a young age, Singaporean children are encouraged to excel academically and pursue higher education. Many parents prioritize their children’s education and invest in private tutors and enrichment classes. But does having a degree really make a difference in terms of earning potential?
According to a survey by the Ministry of Manpower, individuals with a tertiary education in Singapore earn significantly more than those with only a secondary education. On average, a degree holder earns 1.9 times more than a secondary school graduate. This trend is further supported by data from the World Bank, which shows that the earnings gap between tertiary and secondary education in Singapore has been steadily increasing over the years.
One reason for this gap is the increasing demand for highly skilled and knowledgeable workers in Singapore’s growing economy. Employers are willing to pay a higher premium for employees with a tertiary education because they are seen as more valuable assets to the company. In addition, having a degree also opens up more job opportunities and paves the way for career advancement.
Furthermore, a degree not only provides specialized knowledge, but also equips individuals with critical thinking, problem-solving, and communication skills. These are highly sought after qualities in the workforce and can contribute to an individual’s success and earning potential.
