SIM-UOL Career/Financial Prospects of Different Courses

[carboncopy]

Hi all,

I'm currently deciding on an SIM-UOL course to apply for.

Can anyone advise on the career/financial prospects of each degree?

1. For a particular degree, what career fields can you go into and how much can you expect to earn as a fresh graduate/in 5 years' time?

2. Are there any SIM-UOL courses that offer at least an equal playing field as compared to local uni courses? For instance, employers may prefer NBS grads over SIM-UOL Biz grads due to the former's prestige. However, maybe they have no preference for A&F as long as you pass your ACCA?

I understand that there are alot of variables involved, such as your honours and interview/work performance.

However, it would be great if any SIM-UOL grads can share their personal experience, or if you know any friends who did.

I think it would be really helpful for prospective students if there's a general picture that would better enable them to make their decision. It's a pity there isn't anything like

http://www.moe.gov.sg/education/post...es/ges-nus.pdf

for SIM!

P.S. I know that there's already an SIM thread but this addresses more towards issues for prospective students? So I hope I'm not overlapping!

Thanks for the help

Originally Posted by carboncopy

Hi all,

I'm currently deciding on an SIM-UOL course to apply for.

Can anyone advise on the career/financial prospects of each degree?

1. For a particular degree, what career fields can you go into and how much can you expect to earn as a fresh graduate/in 5 years' time?

2. Are there any SIM-UOL courses that offer at least an equal playing field as compared to local uni courses? For instance, employers may prefer NBS grads over SIM-UOL Biz grads due to the former's prestige. However, maybe they have no preference for A&F as long as you pass your ACCA?

I understand that there are alot of variables involved, such as your honours and interview/work performance.

However, it would be great if any SIM-UOL grads can share their personal experience, or if you know any friends who did.

I think it would be really helpful for prospective students if there's a general picture that would better enable them to make their decision. It's a pity there isn't anything like

http://www.moe.gov.sg/education/post...es/ges-nus.pdf

for SIM!

P.S. I know that there's already an SIM thread but this addresses more towards issues for prospective students? So I hope I'm not overlapping!

Thanks for the help

You have a fundamental misunderstanding of labour markets.

There is no intrinsic worth to each degree, your pay progression is determined by a combination of ever changing macroeconomic factors and individual circumstances.

It is a common mistake for fresh grads to think anyone can predict such things with any degree of accuracy and somehow "plot" the optimal route.

My recommendation is for you to choose a course that leverages on your skill and makes whatever weaknesses you have irrelevant. Do not try to make course decisions based on market predictions of pay potential, it seldom works out.

Ask the engineering grads in late 90s, IT grads post 2000, finance grads in 2008 and biotech grads now how did their rush to study whatever was the "in" thing turn out.

just do acca and get work experience at the same time. no need to bother with sim uol degree

[carboncopy]

Originally Posted by QXP

You have a fundamental misunderstanding of labour markets.

There is no intrinsic worth to each degree, your pay progression is determined by a combination of ever changing macroeconomic factors and individual circumstances.

It is a common mistake for fresh grads to think anyone can predict such things with any degree of accuracy and somehow "plot" the optimal route.

My recommendation is for you to choose a course that leverages on your skill and makes whatever weaknesses you have irrelevant. Do not try to make course decisions based on market predictions of pay potential, it seldom works out.

Ask the engineering grads in late 90s, IT grads post 2000, finance grads in 2008 and biotech grads now how did their rush to study whatever was the "in" thing turn out.

Thanks for the reply! It was pretty insightful. I do understand the fact that there are many variables to account for and it would be a tough call to try extrapolating your pay based on your degree.

However, if you compare, for instance, an NTU ADM degree with an NTU Biz degree, there is a general trend that the Biz degree will earn you more.

There is simply not enough information for prospective SIM students in this regard.

Besides, while I agree that I should select a course that best leverages on my skill, most of the courses offered by SIM-UOL seem rather similar in nature - Accounting & Finance, Banking & Finance, Economics & Finance etc. Hence, if say an A&F degree can earn you better job prospects than a B&F degree, I would simply opt for the former.

In any case, TBA, most of the courses are rather dry to me. I can only blame myself for not studying hard enough for the A Levels to get into the course I want.

I guess the reality is that most of us would rather opt for a degree that offers financial security rather than one based on personal interest and skills, and I am no exception. A private degree holder is already marginalized in the job market and I need all the advantage I can get to safeguard my future. Moreover, as previously mentioned, given that most of the courses in SIM-UOL seem pretty similar, I wouldn't really call it a stretch for me to select one that grants me better financial prospects

[carboncopy]

Originally Posted by Unregistered

just do acca and get work experience at the same time. no need to bother with sim uol degree

Why's there no need to bother with an SIM-UOL degree? That sounds pretty demoralizing

Originally Posted by carboncopy

Thanks for the reply! It was pretty insightful. I do understand the fact that there are many variables to account for and it would be a tough call to try extrapolating your pay based on your degree.

However, if you compare, for instance, an NTU ADM degree with an NTU Biz degree, there is a general trend that the Biz degree will earn you more.

There is simply not enough information for prospective SIM students in this regard.

Besides, while I agree that I should select a course that best leverages on my skill, most of the courses offered by SIM-UOL seem rather similar in nature - Accounting & Finance, Banking & Finance, Economics & Finance etc. Hence, if say an A&F degree can earn you better job prospects than a B&F degree, I would simply opt for the former.

In any case, TBA, most of the courses are rather dry to me. I can only blame myself for not studying hard enough for the A Levels to get into the course I want.

I guess the reality is that most of us would rather opt for a degree that offers financial security rather than one based on personal interest and skills, and I am no exception. A private degree holder is already marginalized in the job market and I need all the advantage I can get to safeguard my future. Moreover, as previously mentioned, given that most of the courses in SIM-UOL seem pretty similar, I wouldn't really call it a stretch for me to select one that grants me better financial prospects

I can see where you are coming from in terms of increasing your probability of success by looking at trends & average pay of the various graduates in different schools and majors, this is a common mistake which I made many years ago as well.

Let me put it this way in an analogy. You are now effectively asking "Can anyone tell me what is the historical average of the STI Index? I would like to make a decision on whether to buy F&N, Singtel or SIA..."

Two issues with this line of thinking.

1. Nobody can predict market movements in the future. I can tell you how the STI index performed in the last 10 years, but what it will do the next 5 years is anyone's guess

2. Your individual circumstance is unique just like a stock is in comparison to an index. While the index is an average of a basket of stocks, depending on whether you buy F&N, Singtel or SIA, your long term performance will almost certainly deviate significantly from an average index.

It is important you acknowledge and realize the flaw in this thinking, it will benefit you greatly in other areas of decision making in the future. Your mentality to second guess on what you think might be the course with the best financial prospect is futile, it never works.

On to more practical things. You have named a few courses, I will try to apply the strengths / weakness model concept to these choices. They are not cast in stone, the idea is to give you an example so that you can get better at decision making.

Accounting & Finance - Basically bookkeeping.
Good for: Someone who likes to adhere to a set process, procedure, repetitive work, careful with numbers
Bad for: Someone who constantly likes challenges, new ideas, try out innovations, big picture thinking

Banking & Finance - General finance, touches many areas of finance in a cursory way
Good for: Someone who doesn't really know what he wants yet and want to keep options flexible, interest in financial markets, financial modeling, able to tolerate stress of uncertainty due to the industry, likes to interact extensively with people
Bad for: People who dislike uncertainty, must have fixed answer for most problems, introvert prefer to do things alone or in small groups

Economics & Finance - More research & academic
Good for: People with interest in doing research, writing reports & papers, financial modeling, teaching
Bad for: People who want "action" on the front, makes interpretive snap judgment, poor written language skills

These traits refer to the course itself and the kind of likely jobs that most closely match the curriculum. What you need to do now is to take a hard look at yourself, assess your interest as your performance in all your years of schooling which strenghts and weakness best match the course.

In reality though, cross over to jobs that are unrelated to your field of study is very common and a lot of times are driven more by luck and unforseen situations then any planning.

[carboncopy]

Originally Posted by QXP

I can see where you are coming from in terms of increasing your probability of success by looking at trends & average pay of the various graduates in different schools and majors, this is a common mistake which I made many years ago as well.

Let me put it this way in an analogy. You are now effectively asking "Can anyone tell me what is the historical average of the STI Index? I would like to make a decision on whether to buy F&N, Singtel or SIA..."

Two issues with this line of thinking.

1. Nobody can predict market movements in the future. I can tell you how the STI index performed in the last 10 years, but what it will do the next 5 years is anyone's guess

2. Your individual circumstance is unique just like a stock is in comparison to an index. While the index is an average of a basket of stocks, depending on whether you buy F&N, Singtel or SIA, your long term performance will almost certainly deviate significantly from an average index.

It is important you acknowledge and realize the flaw in this thinking, it will benefit you greatly in other areas of decision making in the future. Your mentality to second guess on what you think might be the course with the best financial prospect is futile, it never works.

On to more practical things. You have named a few courses, I will try to apply the strengths / weakness model concept to these choices. They are not cast in stone, the idea is to give you an example so that you can get better at decision making.

Accounting & Finance - Basically bookkeeping.
Good for: Someone who likes to adhere to a set process, procedure, repetitive work, careful with numbers
Bad for: Someone who constantly likes challenges, new ideas, try out innovations, big picture thinking

Banking & Finance - General finance, touches many areas of finance in a cursory way
Good for: Someone who doesn't really know what he wants yet and want to keep options flexible, interest in financial markets, financial modeling, able to tolerate stress of uncertainty due to the industry, likes to interact extensively with people
Bad for: People who dislike uncertainty, must have fixed answer for most problems, introvert prefer to do things alone or in small groups

Economics & Finance - More research & academic
Good for: People with interest in doing research, writing reports & papers, financial modeling, teaching
Bad for: People who want "action" on the front, makes interpretive snap judgment, poor written language skills

These traits refer to the course itself and the kind of likely jobs that most closely match the curriculum. What you need to do now is to take a hard look at yourself, assess your interest as your performance in all your years of schooling which strenghts and weakness best match the course.

In reality though, cross over to jobs that are unrelated to your field of study is very common and a lot of times are driven more by luck and unforseen situations then any planning.

Thanks a lot for the overview, it rather confirmed my suspicions that I should not opt for accounting - it seems pretty unsuitable for my personality.

Have submitted my application for B&F I guess my top priority now would be to secure good results instead of worrying about my career options.

Thanks again for the long, detailed replies.