Private Sector vs Public Sector

Originally Posted by Unregistered

Which bank is this? I work in an investment bank and they pay 4k max for BO fresh grads

A major English one.
Not many around, easy to guess.

Originally Posted by androidguy

Well, I guess he could possibly be earning $7-$8k at MX10 realistically as a high performer, with possibly 5 months bonus in total to have a total annual package of about $120k. I guess for a high performer, this is achieveable. Any civil servants out there can confirm this? Or better still, if u manage to achieve this, can share your experience?

Should I decide to try out for a position in a Stat board, with relevant working experience, will I be able to negotiate for a competitive pay package? From the other thread about civil servant pay, I gathered that there are some people who experienced a paycut just to get a job in civil service. Is this prevalent for people trying to hop from private to public sector. At my age and with my experience, what would my rank realistically be? MX10 or MX11?

Your situation is kind of tricky. They may not give you MX10 which starts from about $6.4k. But you are also quite close to the ceiling of MX11 (about $7k) which you may hit in a few years if you don't get promoted.

Originally Posted by Unregistered

A major English one.
Not many around, easy to guess.

the one that sponsors some major sports league?

Originally Posted by androidguy

Hi all.
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...

Find out what scheme is your friend in. If IO or AO scheme, then it's possible (esp for latter - probably even more). For other schemes, it's almost impossible.

Originally Posted by Unregistered

Which bank is this? I work in an investment bank and they pay 4k max for BO fresh grads

Took me 7 years working to reach 4K pm.
U fresh grads really having it good.
Thankfully, the company recognised that I am grossly underpaid, they gave me >10% increment for the past 4 years, and only then, I believe I become from "grossly underpaid" to "slightly underpaid".
In order to get out of the "underpaid" category, I need to move on, and I am now waiting to start work at the new place, with a good incremental package.

For those who are stuck in their lowly paid miserable roles, time to get the headhunters working for you (international ones)!

Originally Posted by Unregistered

Your situation is kind of tricky. They may not give you MX10 which starts from about $6.4k. But you are also quite close to the ceiling of MX11 (about $7k) which you may hit in a few years if you don't get promoted.

Was offered a pay cut with a ministry cuz they said that their salary ceiling for MX12 is 4.5k. Do you guys have any insights to the salary range for MX12?

[Liverpool]

Originally Posted by androidguy

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...

it is possible. maybe deputy director territory. but not normal, he must have done good work or kept upgrading himself, like part time Masters or something.

well what are your prospects like? You think you can become head of ops or whatever management role at your current bank? If not just jump to government job, pay cut nevermind, work your way to the top and hope to retire as a Deputy Director (8-10k) or Director (10-12k) before you retire.

And please don't just see pay alone, must see prospects.

Originally Posted by Unregistered

Was offered a pay cut with a ministry cuz they said that their salary ceiling for MX12 is 4.5k. Do you guys have any insights to the salary range for MX12?

Job grade: MX11
Job title: Manager, Assistant Director
Pay scale: S$4,510 – S$7,909

Job grade: MX12
Job title: Assistant Manager, Manager
Pay scale: S$2,805 – S$5,643

Management Executive 13 (Cadet Grade) $2,400 - $4,350

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?

Originally Posted by androidguy

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...

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