In America, many college graduates chalk up a study loan of US$30,000 and could not find a job. The amount of bad student loans is becoming another problem for the banks.
In Singapore, the local students are able to get subsidised education in the polytechnics and universities, so a large part of the cost is borne by tax payers. However, the students are also worried about their ability to find a suitable jobs.
We face a different type of problem in Singapore. There is high job hopping, during good times. It is wasteful for employers to hire local workers, train them and lose their services in a year or less. Another source of wastefulness is that many young workers do not work in the area of study. For example, many engineers work as insurance or property agents!
We need a better system of managing our education dollars and fitting students into the right jobs, so that their education and skills are put to good use. This is how a competent and productive workforce is developed. Our current approach is quite wasteful.
In Singapore, the local students are able to get subsidised education in the polytechnics and universities, so a large part of the cost is borne by tax payers. However, the students are also worried about their ability to find a suitable jobs.
We face a different type of problem in Singapore. There is high job hopping, during good times. It is wasteful for employers to hire local workers, train them and lose their services in a year or less. Another source of wastefulness is that many young workers do not work in the area of study. For example, many engineers work as insurance or property agents!
We need a better system of managing our education dollars and fitting students into the right jobs, so that their education and skills are put to good use. This is how a competent and productive workforce is developed. Our current approach is quite wasteful.
9 comments:
Education, like health care, can be wasteful; and can also be useful. It depends on judgment.
Similarly, consumers can be exploited by the professionals, i.e. people pay a lot of fees to doctors for unnecessary treatment or to schools to learn things that are not useful.
These areas have to be regulated. The government cannot just leave these matters to the free market to sort out.
I think this education problem starts at an early age. The way our education system is so results oriented and doesn't take into account the differences in aptitudes and rates of learning. We are just forced through the system and made to make a decision on what to study before we are ready.
There should be more guidance and counseling on what career choices are there and what would be more suitable according to each individual's characteristics. And not some "wayang" chit-chat sessions too - get professionals from various fields to give a talk about their job, even one-on-one sessions.
1000% agree with you. Too many real estate and insurance agent in singapore!
e.g.like taxi driver The requirement must be:
Age: >30 and citizen only.Why open to PR? Better utilities the trained manpower resources and not waste tax payer money.We in SG get it all wrong and keep importing FTs.
Talking about engineers or even technicians, there are many cheaper, younger, faster foreign "talents" available and preferred by employers.
Also engineers and technicians are one of the largest, if not the largest, group of graduates produced by the universities and polytechnics. It is partly a legacy from the past, when Singapore was then industrialising and needed lots of technical manpower and the government mass produced them at the uni and polys through large intakes. Hence it does not attract the top cream of students. At that time foreign talent was also not often heard of, except those from Malaysia.
Which partly explains why as professionals, they are not as well regarded as doctors, accountants or lawyers where the numbers are much less due to quota and entry requirements.
And pay wise, the average engineer is also not that well paid compared to the other professions, partly as result of the foreign "talent" effect.
So is it any wonder that some, if not most of the engineers ended up as insurance or property agents or jobs not related to their training?
Why would engineers want to become insurance or property agents if their job market is good? First wave hit engineering industry, second wave hit IT industry? Third wave - healthcare?
As a matter-of-fact, companies no longer are interested in providing training. They hire staff who already have the relevant experience and let them go when the experience are no longer required.
One estate agent who was a structural engineer, worked as one for only a few years, then change profession to sell and lease properties, and now is a few million $ man.
What a waste of the country's resources to educate him in the engineering field, may as well become an agent straight after O Levels. Then the Govt has to rely on migrant FT to fill up the shortage of skilled technical positions in the manufacturing and construction industries, if every local graduate switches to become bankers, insurance or estate agents.
"Why would engineers want to become insurance or property agents if their job market is good? First wave hit engineering industry, second wave hit IT industry? Third wave - healthcare?"
Why?
the answer is simple ...to get rich quick. Can an engineer become millionaire in 4 years? I let you answer this question.
Pushing life insurance you don't need an engineering degree nor a finance degree. All you need is the ability to lie without batting an eyelid; glib tongue that can even persuade a bird to com down from a tree; tell 1/5 of the truth; tell only when asked; and all the conmanship skill. That is all you need and you WILL SURELY BECOME A MILLIONAIRE in no time.
Many of them were featured in the Sunday Times and one U graduate woman agent who was featured as successful agent is awaiting trial for scam and cheating of US$6 millions and also a woman for $500K and a man for $3.5 million.How old do you think these conwomen? below 30 years old, graduates.
So waht attracted them into life insurance ? promise of get rich quick, lah. Attend a business opportunity talk and that is what the insurance companies would tell you. Talk for 30 minutes and get paid for thousand of dollars in commission. Are doctors and lawyers paid so much? These agents can even choose their victims, hor.
The next time when you pass a roadshow and a pretty agent will talk you up. She will tell you WITH ONLY $100 YOU CAN BE COVERED FOR A FEW HUNDRED THOUSANDS and return is good..Wow, if you agree she will earn $600 already. good money? and in a day she needs 5 victims she has $3K in the pocket for a day's job and we are talking about a monthly $100 premium or yearly $1200 paid with a credit card. No cash involved right?
What about those who are more skillfull , more daring and dare to do things less successful won't
dare to do?...being an engineer and become millionaire in 3,4 years?
Today salesmanship and conmanship, the line between them is blurred.These words can be used interchangeably.
Dear Mr Tan
100% agree with your sentiments.
It's a 2 way street.
You have employers' needs.
And our public money is being used to train workers for these employers.
Do these employers' have a long term plan for their employees? The reality is really hire & fire. Employees are just disposable Kleenex tissue. Use one time and throw away.
You also have employee's needs.
I have no idea how we can expect a 16 year old kid to know what he wants to do for the rest of his life. Or for that matter, does a fresh graduate really know what he wants to do for the rest of his life?
Jokes - Changing Singapore (light bulbs)
How many Presidents does it take to change a light bulb?
Answer:
One. But first of all, the President needs 56 man-years to find out if he has a replacement light bulb in his "reserves".
Post a Comment