Overseas Scholarships & Bond Breakers

I have friends, and friends of friends, who are on overseas scholarships, and have been offered a lucrative job by the private sector. Some gave in to the temptation, others battled hard and long within themselves, and the rest wanted to serve out their bond.

For those in the former 2 categories, at 18, having the opportunity to study overseas fully paid for, is indeed a joy. At 18, that $200,000 scholarship is like a lottery that few have the foresight to say no to.

In the next 4 years, an increasing number of them started to waiver in their faith, as they attended more career talks, meet more people, learn about the vast opportunities scattered in every corner of the world. They started applying for jobs, initially on a try-out mentality, and once offered the job, they were seriously considering breaking their government bond.

Why not, their private sector starting pay is 2-3 times higher than that as stipulated in the bond, they have a chance to work with the best in the world, and if everything goes well, they can be looking at an early retirement as early as 35 years old.

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On the other side of the fence, we have the tax-payer Singaporeans who wanted these bond breakers to be responsible and come back to serve the country. They deem them high-flyers mercenary and irresponsible. They should not be allowed to have an overseas education in the first place. They damned it as waste of the taxpayer’s money

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Government officers do not have a better alternative. Talents are in short supply worldwide. The government wanted to tie down these talents when they are 18. Sometimes, the plan backfires, but other times, passionate scholarship holders held to their promise. In the venture capitalist world, 1 successful business is sufficient to cover the losses of the other 24 failed investments. I think it might be a similar case here.

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And so it is a chicken and egg story. Until there is a better alternative, I say.