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Private Sector vs Public Sector

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  #21 (permalink)  
Old 12-08-2012, 03:06 PM
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very accurate and reasonable reference for civil service.

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Originally Posted by Unregistered View Post
one of my friend from NUS 2005 batch, 1st class, female, 7 years in manpower ministry/wda, getting low 6k range... as of now..should be MX11

hope this can be a guide
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  #22 (permalink)  
Old 12-08-2012, 10:30 PM
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one of my friend from NUS 2005 batch, 1st class, female, 7 years in manpower ministry/wda, getting low 6k range... as of now..should be MX11

hope this can be a guide
guy friend from NUS 2007 batch, non-scholar, 2nd upper with NS. 5 years in ministry. getting 5.7k gross MX11. first job.
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  #23 (permalink)  
Old 13-08-2012, 03:26 PM
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Originally Posted by Unregistered View Post
Hi, considering the preceding post, it is highly unlikely that a non-scholar would fetch $8-10K by the age of 33. Your friend could have factored in his AWS, performance & variable bonuses for the entire year and divide the annual remuneration by 12 months. This is fairly common in many salary calculations.

I worked in one of the more important Ministries and a typical 33-40 year old should be earning around 6 - 8K. Going further, if the civil servant is deemed to possess good potential, he should be a grade 10 (at the second half of the 'bar') and fetch a salary range of 8K to 10K from the age of 40 - 45. This will enable him to hit superscale grade of 11K by 45-46. In short, civil servant's salary is actually quite predictable in relation to his or her age...(& hence not hard to discern if someone is blowing trumpet, haha)

However, the above equations do not apply for officers who are on the AO scheme. Those are the truly high flyers in the civil service and whose salary are significantly higher. They are the future Perm Secs & Deputy Secs so the government can't shortchange them. But not that many of them around though.

Hope that addresses your query. By the way, what do you do in the finance industry? Analyst work?

Good to see my thread dug up after such a long time :-). Analyst work just about describes my job scope. Cant be too obvious here or I'll blow my cover.

Some updates. Got a recent promotion and pay now is $7k. How would this compare to public sector work? Would it be a good idea to apply for work in public sector, or stay put where I am? I'm 34 now.
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  #24 (permalink)  
Old 14-08-2012, 11:40 AM
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Originally Posted by androidguy View Post
Good to see my thread dug up after such a long time :-). Analyst work just about describes my job scope. Cant be too obvious here or I'll blow my cover.

Some updates. Got a recent promotion and pay now is $7k. How would this compare to public sector work? Would it be a good idea to apply for work in public sector, or stay put where I am? I'm 34 now.
Don't be silly... I'm same age as you and only earning 4k in the public service.... My advice to you is stay where you are... Public service will never be able to match the financial rewards of banking.. That's a fact... So don't set yourself up for regret and diappointment.. There is an over saturation of scholars in the public service... it is not to shine and climb the ranks in here if you are not a scholar.. Your whole existence will be just to support them... Better think twice...
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  #25 (permalink)  
Old 14-08-2012, 01:12 PM
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Don't be silly... I'm same age as you and only earning 4k in the public service.... My advice to you is stay where you are... Public service will never be able to match the financial rewards of banking.. That's a fact... So don't set yourself up for regret and diappointment.. There is an over saturation of scholars in the public service... it is not to shine and climb the ranks in here if you are not a scholar.. Your whole existence will be just to support them... Better think twice...
y only 4k??
wat class of honours?
which university?
NS or non-NS?

from statboard or ministry??
--------------------------------------------------------------------------
got fresh grad with 1st class degree local NUS 2012 getting 4.1k as policy analyst starting with NS.

DXO with consistent C grader for 4 years getting 4.4k, pass with merit with NS local U, 1st job

guy friend from NUS 2007 batch, non-scholar, 2nd upper with NS. 5 years in ministry. getting 5.7k gross MX11. first job.


one of my friend from NUS 2005 batch, 1st class, female, 7 years in manpower ministry/wda, getting low 6k range... as of now..should be MX11
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  #26 (permalink)  
Old 18-08-2012, 03:40 PM
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Hi all.

I'm a 33 yo guy currently earning $5.7k in the finance industry. After I graduated from NTU accounting with 2nd upper honours, I've got 2 job offers, 1 from a stat board and another from the finance industry. I took up the finance, even though it is of slightly lower pay. Now that I'm 33, I'm beginning to wonder if I have made a mistake. I'm considered an slightly above average worker... with bonus of about 4-5 months on average. Will like to check out the opinions of you guys if those working in civil service can get around $5.7k a month at the age of 33. I've got a friend who graduated together with me (NTU accounting 2nd upper as well) and took up the offer from a ministry and then transfered to stat board. From my convo with him, he seems to be earning about $8-10k a month. Is this possible, or is he overstating his pay? Appreciate all comments...

sorry this may be irrelevant but did you graduate from a JC or a Poly? I am currently in Poly, taking account and finance year 2 now deciding on which cluster to take for my year 3, cluster being offered are Investment, Accounting and Banking, any suggestions?
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  #27 (permalink)  
Old 24-08-2012, 04:52 PM
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Originally Posted by androidguy View Post
Good to see my thread dug up after such a long time :-). Analyst work just about describes my job scope. Cant be too obvious here or I'll blow my cover.

Some updates. Got a recent promotion and pay now is $7k. How would this compare to public sector work? Would it be a good idea to apply for work in public sector, or stay put where I am? I'm 34 now.
$7K is second bar of MX 11 or MX10. It is unlikely someone from the private sector will be given MX10 as that is supervisory job aka section head with a few years of experience doing that function. It is also unlikely that a new hire will be put into second bar as that is has a performance criteria.

Hence, you may get a pay cut if you consider monthly salary. However, annual compensation can be the same as civil service pay better bonuses depending on economy, than SMEs.
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  #28 (permalink)  
Old 24-08-2012, 08:14 PM
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Quote:
Originally Posted by Unregistered View Post
$7K is second bar of MX 11 or MX10. It is unlikely someone from the private sector will be given MX10 as that is supervisory job aka section head with a few years of experience doing that function. It is also unlikely that a new hire will be put into second bar as that is has a performance criteria.

Hence, you may get a pay cut if you consider monthly salary. However, annual compensation can be the same as civil service pay better bonuses depending on economy, than SMEs.
Of cos la, who duno working in SME is 10x work and 0.1 the remuneration. But lucky gahmen never intro minimum wage scheme else SME will fail and will become 0 work 0 pay
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  #29 (permalink)  
Old 27-08-2012, 03:03 PM
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Quote:
Originally Posted by Unregistered View Post
$7K is second bar of MX 11 or MX10. It is unlikely someone from the private sector will be given MX10 as that is supervisory job aka section head with a few years of experience doing that function. It is also unlikely that a new hire will be put into second bar as that is has a performance criteria.

Hence, you may get a pay cut if you consider monthly salary. However, annual compensation can be the same as civil service pay better bonuses depending on economy, than SMEs.
interesting... My bonus for the past 2 years was $24k consecutively... which amounts to about 4.5 months and 4.2 months respectively for 2010 and 2011. Civil service able to top this? All I know about civil service is they seem to be paying out lots of bonuses throughout the year instead of a 1 time payout at the end of the financial year.
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  #30 (permalink)  
Old 27-08-2012, 04:57 PM
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im in c.s.
32 yrs old. been in min for 4+ yrs.
6k+ per month gross.
1st class hon w masters from ivy league. non-scholar.

Agree that ur fren is likely to have overstated his salary. either that or included his bonus into the calc.
I guess whether u shld jump depends on why.
if money, dun bother, cos the skills aren't so transferable.
if work-life balance, its aint exactly 9-5 in c.s. i typically go home at 7. but half the time, I have to log on from home and during the weekends...
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