If you are from a middle-class income background or better, I would say the pay is not as important as the experience and skills you pick up from your first job.
But if you are a student who truly needs to help put food on the table, then yes ; wages are an issue and you should aim to work in a company paying upwards of six dollars and perhaps, have an understanding boss who will close an eye and not deduct your pay for CPF. That's technically illegal of course, but it's not a big deal for many employers.
I started work straight after my last O level paper.
In my line of work, I deal with the ultra-rich of Singapore (my customers) while working with people (foreigners) who are paid less than $500 a month for back-breaking work. I'm a sales person cum Bangla worker, carrying back-breaking loads everyday while drowning in the invoices of my customers. I get paid a measly sum hourly, yet 22% of my tiny pay is deducted for CPF.
But I thank every day I work my job, because now I know how arrogant we Singaporeans are when we scoff at the people doing manual labour ; construction work etc. I have also gained much more experience in retailing too, coming across all sorts of people from the downright arrogant to the benevolent when handling sales. I have learnt the importance of hard-work, first impressions and body language, as well as gaining higher levels of strength and endurance. I have colleagues who peddle small drugs like ganja and ice to supplement their incomes, and I have bosses who come to work and do nothing but use the power of their eyes.
On top of that, I picked up fun miscellaneous skills such as learning how to operate a chain-saw? Gosh they're damn fun to use.

My advice for you is try not to go through a cushy job if experience is what you seek. Be a bangla worker for a month or two, or do sales - a mixture of both would be the best combination. One is physically taxing while the other mentally.
Know hell to appreciate heaven better. Some people I know wrap gifts all day long yet earn more than me. But what the hell do you learn from such a job? Earning money but wasting time.
Said one foreign worker to me :
"Look at you. You're working like a Bangla now but with your education, you'll someday be sitting in a cool office doing only desk work, with a much higher salary. Look at me, I'll be doing this hard work till the day I die. I just hope, my friend, that when you're up there, you don't forget what it's like down here."