Singapore's GRIT: A Rough Ride for New Grads Amid Changing Job Market

So, I noticed while scrolling through my morning feeds that the job market for Singapore's fresh grads is looking pretty bleak. You'd expect that after surviving years of exams and all-nighters, graduates would step into the workforce with a decent paycheck. But nope, many are opting for what's essentially a survival gig: the government-funded Graduate Industry Traineeships (GRIT).

The GRIT Reality

to this. GRIT offers recent grads a chance to get industry experience, paying between S$1,800 to S$2,400 monthly. Now, if those numbers make you do a double-take, you're not alone. That's less than half of what the median graduate earns starting out, and pretty close to what McDonald's pays a trainee manager with just a diploma.

Despite the less-than-stellar compensation, the program isn't without merit. Around 70% of the traineeship allowance is covered by the government, which motivates companies to hire even when they're cautious. Given the economic climate, stirred by AI fears and global economic tremors, these roles are meant to be a foot in the door. Manpower Minister Tan See Leng openly admits jobs are disappearing because of AI, so something's gotta give.

Now, some grads like Lee Jia En found themselves swallowing their pride. After finishing college, how'd you feel if all you got was a job your friends look down on? Yet, Lee took it in stride, banking on future opportunities. Others like Phang Jun, with a communications degree, found themselves applying for a hundred roles only to get a few offers outside their field. It's tough out there.

Getting to the Bigger Picture

Here's the thing: the program's uptake isn't as high as expected. Applications for GRIT plummeted by 90% shortly after its launch. Over half of the 800 positions went unfilled by March. The stigma around being a trainee under GRIT seems a barrier. Graduates fear being pegged as 'not good enough' for full-time roles. And who can blame them? With the allowance capped at half of what a typical starting salary is, it feels like a compromise on value.

Economically, Singapore's got its hands tied. Trade-dependent and energy-importing, the city-state is directly impacted by global slowdowns. And while the job market holds at a 2% unemployment rate, retrenchments are at a three-year high. Employers are careful, cautious, and calculated.

Is GRIT a Band-Aid for a deeper problem? Without clear pathways to permanent positions, grads like Ng Hui find themselves in a cycle of hustling, juggling tutoring gigs to tackle university debt while grinding through the trainee role. The pressure to build a career amid financial constraints is very real, folks.

What Does This Mean for the Future?

Okay, here's my take. GRIT's potential lies in its structure. It could pivot to a long-term solution by expanding beyond temporary gigs to more compelling, growth-oriented roles. Imagine a future where GRIT ties into on-chain learning or digital networks, offering digital badges for skills mastered, making grads more attractive in a blockchain-driven employment world. But for now, it's just a patch job in a competitive market.

What should grads do? Look, it's about playing the long game. Get resourceful, use the time to network internally, or consider complementary skills, perhaps even crypto-related ones. The builders never left, and in this market, standing out is about more than just surviving.

In a market where AI is pulling jobs out from under people, adaptability is the new currency. Who knows, maybe GRIT will evolve, and grads will find themselves in a meta where their skills are in high demand. But are we ready to make that shift, or are we just sticking old bandaids on new wounds?