I am really happy at the direction this thread is heading.
Controlled civility whilst expressing valid ideas from all
perspectives. Kudos to y'all... so far! 
Fatum, I'd like to highlight something elindra said. The
poor are the ones suffering even more than ever. I feel the
Singapore govt should extend a helping hand to the poor - those too
uneducated to retrain effectively, and those who are stuck in ruts
and can only obtain jobs that will never pay more than decently -
these are the people who deserve to be offered more financial
assistance.
However, I draw the line at sympathising with fresh grads.
You seem to think that they deserve to be paid more and have a
better lifestyle in "First World Singapore" (and btw, the terms
1st, 2nd and 3rd worlds have long been abolished as being
politically incorrect decades ago and has since been replaced with
developed, developing and ... what's the worst? ...
Undeveloped? Underdeveloped? 
).
Here, in "First World Melbourne", I see fresh grads in Nursing,
struggling all the time. Traditionally, grads are offered
lower salaries simply because they do not yet have any substantial
experience to be of any great contribution to the employer.
On top of that, the employer has to rope in resources to train
them, as well as to bolster any losses and etc resulting from
mistakes made by an amateur. In good times, employers fight
for the best grads, offering more remuneration to employ the cream
of the crop. But when the tide turns, as it often does, grads
will suddenly find themselves in a disadvantaged position when it
comes to bargaining power and starting salaries.
It's the "I'm entitled to a better life" mentality that I
abhor. No one is 'entitled' to a better life. You work
for it. Even here, in Melbourne, I see grads struggling
financially everyday. They get much lower salaries until
after they have clocked in a year's worth of solid working
experience, then they suddenly get a gratifying increase to
acknowledge their experience. It is sort of like a probation
of sorts, and also a rite that acknowledges that you are no longer
a rookie, you can actually make contributions to your employer
right now. Nothing wrong with starting humble, and that
should be the case. Start small.
These grads get paid so little, and on top of that, they have to
pay off a huge education debt. I know of grads who, after
paying off their education loan, the car loan, and the regular
living expenses, have barely enough to eat well. And yet, do
they go around shouting that they live in first world Melbourne,
they deserve a better life? No. We sit around at the
table and talk about how tough life is, but then, they roll up
their sleeves, and ask for extra shifts so they can earn a bit more
that month. Some of them work agency shifts on their days off
so they can make ends meet and / or pay that extra surprise bill
that crept up on them. No one has it easy. And yet,
instead of asking for the govt to give them more, these people just
accept it as a fact of life, and work harder.
Why should young Singaporeans have it any differently? All
around the world, it's a rite of passage almost, that you start
small, start tough, and as you move on, your lifestyle gets
substantially better.
Look all around the world, Singaporeans aren't doing any worse
than any other developed country. And for that, we have to be
thankful. I've met migrants who come from countries where
they are still dealing with basic hygiene, basic bread-and-butter,
basic safety and welfare issues. Singaporeans, in comparison,
have had it easy, have had lots of abundant, fruitful years.
Be thankful for those good years, but if times turn bad, it affects
everybody. Of course, the upper eons won't have it as rough,
but that is something that is seen the world over. The rich
are always cushy... otherwise, why would anyone work hard at all if
life "up there" isn't cushy and nice?
It will bother me if the more experienced and skilled people in
the workforce in Singapore aren't getting better
remuneration. But that doesn't seem to be the case. As
long as you continually upgrade yourself and invest in your
own self-development, as long as you work hard and prove yourself
to be a valuable asset to your employer, you will be kept
employed.
Once again, I want to repeat the point made by elindra last
night - that some FT's work harder than the locals.
Why? They have a hunger. A hunger to build a better
life for themselves by working hard. Their circumstances
back home are often worse than what we enjoy here, and
they are fired up by the sheer determination to 'make it
good'. Whilst we are busy screaming bloody murder for our
lives getting tougher, these guys are rolling up their sleeves,
grinning and bearing it, and working away diligently.
If I were an employer, I will hire the FT - they work hard,
don't complain, and are committed to making it good.
Basically, if you want to compete with the FT's, beat them at their
own game. Otherwise, face the reality that only the fittest
survive.
