The job market in Singapore is currently challenging and highly competitive. Job applicants must be aware of this and prepare themselves to face these challenges. One effective way to do this is to understand the importance of a bachelor’s degree and the value it adds to the job market.
With its long history of providing education and unwavering student support, TMC Academy stands out as one of Singapore’s ideal campuses for pursuing a bachelor’s degree. It offers a supportive environment for your academic journey.
The Value of a Bachelor’s Degree in Singapore’s Competitive Job Market
There are several reasons why the job market is so competitive in Singapore.
1. Singapore’s job market for roles requiring specialist skills is highly competitive, particularly in finance, information technology, and engineering. The high demand for skilled workers indicates the urgency and importance of staying current with relevant skills. Equipping yourself with a bachelor’s degree is not just a way to meet this demand but a proactive step towards a successful career.
2. Labour Market Competitiveness. In 2024, Singapore is the most competitive economy in labour market competitiveness, a significant improvement from 2022, when it ranked 12th. The ranking is an annual report by the Institute for Management Development, which ranks the competitiveness of 67 global economies based on 333 criteria.
3. Challenges for Graduates. Given the labour market's competitiveness and the high demand for skilled workers, the job market can be challenging for new graduates to enter. However, with the right preparation and adaptability, graduates can meet these stringent demands and high expectations from employers and succeed in the job market.
Given these factors, giving yourself the best opportunity to obtain employment makes sense. This starts with getting a bachelor's degree.
The value a bachelor’s degree adds to your career
There are many benefits to having a bachelor’s degree, particularly in Singapore. Some of these benefits include:
Better Job Opportunities with a bachelor's degree
Many employers and positions require a bachelor’s degree, and having one opens the door to a broader range of job opportunities.
While many jobs may not require a specific professional degree, employers may still prefer applicants with a general degree, such as a bachelor’s degree in business. A degree like this shows potential employers that the person has a general knowledge and understanding of business-rated processes and systems. It also demonstrates commitment and dedication. This can make the applicant more attractive to the employer compared with another applicant who doesn’t have this qualification.
Access to competitive salaries with a bachelor's degree
Having a bachelor’s degree can lead to higher earning potential.
In 2023, employees with a certificate or diploma had an average salary of 17% higher than their high school-educated peers. Those employees who earned a bachelor's degree saw a 24% increase in their salary compared to those with a certificate or diploma.
Hence, completing a bachelor’s degree provides better job opportunities, higher wages, and better financial security. From an economic perspective, having a bachelor's degree makes good sense.
Greater career advancement opportunities with a bachelor's degree
A bachelor's degree is the foundation for further education and career growth. A bachelor's degree opens the door to postgraduate diplomas and the opportunity to complete a Master’s program.
Having a bachelor's degree also makes a person more competitive for promotions and leadership roles that may arise in the workplace. There are several reasons why a bachelor's degree makes it more likely that a person will be considered for promotion.
• Skill Development. Bachelor's degree programs help develop essential skills such as critical thinking, problem-solving, effective communication and specialised knowledge in particular areas. These skills are critical in leadership roles.
• Professional Recognition. A degree can enhance an employee’s professional credibility and recognition within the organisation, making them a more attractive candidate for promotion.
The personal growth from having a bachelor's degree
While concentrating on the career development, job opportunities and financial security provided by a bachelor's degree, it is essential not to lose sight of the personal growth that occurs beyond the professional benefits.
Completing a degree can boost your confidence, provide a sense of accomplishment, and help you think critically about various topics. This sense of achievement translates to confidence, which is an important quality to have during the job selection process and in the workplace.
Employers are looking for applicants with a confident attitude and critical thinking skills.
What are some of the most popular bachelor degrees in Singapore
Some of the most popular bachelor’s degrees in Singapore, known for their high demand and strong career prospects, include:
Communications degree
These include communications, media studies, and public relations degrees, which are valuable when applying for jobs in the marketing and media industries.
The other advantage of a degree in communication is that the skills learnt in this degree are transferrable and in high demand in different industries, making it ideal for people who are still uncertain what area they would like to work in.
Accountancy and financial management degree
A degree in accounting allows a person to apply for many roles in finance, including taxation and auditing. It also allows a person to work across sectors, such as the government, public, and private sectors.
Business and Management degree
Given Singapore’s global business hub position, business and management degrees are highly sought. A business degree also allows a person to specialise in several areas. For example, human resources and marketing are two specialist areas that arise from a business degree.
Computer Science and IT degree
With the rise of the digital economy, degrees in computer science, information technology, and cybersecurity are in high demand.
These degrees offer substantial starting salaries and provide excellent opportunities for career advancement in Singapore’s dynamic job market.
TMC Academy for Bachelor’s degrees
Given the value of a bachelor's degree, studying for this degree at TMC Academy makes good sense for several reasons.
TMC Academy offers bachelor's degrees in high-demand areas
Whether business or accounting, TMC Academy provides bachelor's degrees in several high-demand areas.
A list of the bachelor's degree programs provided by the Academy can be found here.
TMC Academy’s history and culture of learning
TMC Academy has provided students with globally recognised qualifications for over 40 years. Hence, the Academy has a long history of providing quality education to students, and this has been recognised by many of the accolades the Academy has received.
In terms of its culture, the Academy strives to promote integrity and harmony among students and staff. A professional, innovative college that fosters integrity and harmony creates an ideal learning environment for students to achieve their best.
TMC Academy’s industry connections.
TMC has, over its 40-year history, built strong industry connections that benefit students in several ways.
Industry Advisory Boards
The industry Advisory Boards review the TMC curriculum to ensure it is industry relevant. They also advise TMC on industry attachment and appropriate job placement opportunities for students, ensuring that students achieve positive outcomes from these placement opportunities. Another function of the Boards is to monitor current industry practices, future trends, and changes in regulatory frameworks.
The result is that students are not just studying theoretical information. They are learning practical, industry-relevant information, which means that when they complete a bachelor’s degree, they are ready to enter and contribute to the workforce in their chosen profession.
Networking Opportunities
The other great advantage of TMC’s industry connections is the networking opportunities that it provides students. Networking opportunities are a great way for students to form connections and build relationships with people already in the industry who can act as mentors and support students as they enter the workforce.
Given the benefits of studying at TMC Academy, it is important to contact them to discuss how studying for a bachelor’s degree through the Academy can benefit your career. You can contact them here.
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