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I (29 years old) am planning my career, any advice?

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  #31 (permalink)  
Old 06-02-2016, 04:17 PM
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nope, not realistic at all. first off most foreign banks are not interested in a monash malaysia grad even for back office unless we are talking about the usual joksters like RHB, Maybank or some asian bank offshore branch.

secondly, even if he can get in, maybe for someone who started off as a contract 2.8k in early 20s & slowly work his way up after that then yes realistic to get 6-8k by 35. but it is not realistic for someone to join in his early 30s then expect to straight away catapult to 6-8k by 35.

in fact if you look at the industry, the most common finance jobs pte uni grads tend to end up with are either consumer/sme sales in banks or back office work with outsourcers like Citco, Marsh or claims ops with insurance co. this is the hard truth i'm afraid.
thanks, i am just a below average guy trying to earn more money to start a family and live in a better place. believe it or not, i was interviewed by the police for a serial stabber case (stabbed like 20 women and the police were getting desperate for leads). and there are 2 terrorists who lived next to my hdb block (now in isa). and a rape case next block as well. you may be privileged to live somewhere safe but this is the truth about my neighbourhood, one of the most low-income region in singapore.

firstly, i don't find rhb or maybank to be 'jokesters'. i consider them to be reputable companies and i will gladly accept a job with them for the right price and career opportunities.

i guess they are too 'common' for you but they are okay for me.

secondly, i know of uol grads getting into jp morgan singapore.

thirdly, monash is a public university, ranking about 70th in the world.

fourth, i am earning 4k thereabouts now. i have no problems getting similar paid 3-4k job offers, but i am trying to go up a little.

fifth, i used to be a recruiter in my first job (i recruited for some of the biggest mncs in singapore). i earned 2k basic and quit within 6 months. i may still have my CEI (recruiter license). that's another story. :P

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  #32 (permalink)  
Old 06-02-2016, 04:36 PM
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Guy, where do you stay?

Also, RHB or Maybank will not pay you 5k to 6k by 35 based on your current trajectory. And the guy is right to say, these are jokesters company, you will see very few fresh local graduates entering them. The lowest they will go is probably UOB, ANZ.

The SIM guy at JPM probably got in through connection or he was from another bank where he made very good sales.

By top30 uni, which ranking are you looking at? TIMES? Forbes? Financial Times?

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  #33 (permalink)  
Old 06-02-2016, 05:20 PM
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You seem to feel that you are highly intelligent but somehow is restricted in your career by your certifications and wish to boost them up.

Unfortunately, you still got no idea what you are doing. In reality, you are only very average in terms of intellect. But your inability to see that actually hinders you and cause you to waste lots of time and money pursuing something already way beyond your league.

Why are you even taking GRE instead of GMAT when you are trying to take an MBA?

Ppl from Banking Management Trainee programs and Management Consulting programs do go take their MBAs, but it is only the Ivy League MBAs.

Nobody cares about an NUS MBA. Look at the class profile - ://mba.nus.edu/student-life/116-class-profile

No one from USA or many other developed nations are even in NUS MBA class.

Even when everyone who matters tell you that NUS MBS is useless, you still die die want to go in.

Even for a poor grade NUS MBA, it is highly unlikely you will make it in. You simply do not have the experience, skills, networks and educational qualifications to get in.

Let us imagine that best case scenario for you, where you successfully get an NUS MBA.

No bank is going to recruit you as an analyst even. People will recruit a first class honours or extremely exceptional 2nd upper guy as an analyst.

You are already spoilt goods. Even Maybank will not want you.

My advice is to take your CIMA and ACCA which is more relevant to you and try to get into big 4 and climb from there.

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  #34 (permalink)  
Old 06-02-2016, 05:37 PM
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Actually I don't think an NUS MBA is that bad.

I know a number of them personally who got offers at the major IBs. And the average GMAT is about 650, still a half decent school, especially for someone in his profile.

Do you honestly think he can get into an Ivy League MBA based on his profile? Those are reserved for top tier management trainees, MBB consultants and IB people.
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  #35 (permalink)  
Old 06-02-2016, 10:25 PM
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The job market has undergone significant transformation since the Financial Crisis back in 08. Salaries in banking for newbies and those who were junior at the time of the crisis will not reach the bubble levels that preceded the crisis. The high paid bankers are the ones who have been in the game long enough (entered by 2002/3 at the latest) and who have not been axed yet. This will take time as they have the experience and know how about the business. But they are a shrinking population. However, salaries will not go to those levels for a while.

If you don't reach 100k per annum by the time you are 30, there is little chance you will make much more than 100k per annum by the end of your career. This is why it's important to study the right degree in the right school. Of course this does not apply if you come from a wealthy and well connected family.

Good luck OP. No once can advise you, but you need to push through very hard right now to make sure you have an upside
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  #36 (permalink)  
Old 06-02-2016, 11:13 PM
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All I hear is big talk from the TS boasting of what a hot piece of potato he is, but in reality let's take a step back and you can see what sort of character he is by the type of things he thinks is worth mentioning as "achievement"

1) Boasting about being top 10% in primary and secondary school
2) Boasting about being FCH from a never heard of distance learning certification
3) Boasting about GRE scores
4) Boasting about being top 10% at his work place, but strangely the company is not willing to pay him much or promote him
5) Boasting about recruiting for the "biggest MNCs", but again strangely these MNCs are only willing to pay him 2k <- I suspect this is just a staffing/sales agent job with an outsourcer

Are these the sort of things any accomplished 29 years old degree graduate (regardless of which university) who has worked for some time would mention proudly?

No wonder he isn't landing any offers after sending out >100 applications.
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  #37 (permalink)  
Old 07-02-2016, 12:07 AM
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Quote:
Originally Posted by Unregistered View Post
The job market has undergone significant transformation since the Financial Crisis back in 08. Salaries in banking for newbies and those who were junior at the time of the crisis will not reach the bubble levels that preceded the crisis. The high paid bankers are the ones who have been in the game long enough (entered by 2002/3 at the latest) and who have not been axed yet. This will take time as they have the experience and know how about the business. But they are a shrinking population. However, salaries will not go to those levels for a while.

If you don't reach 100k per annum by the time you are 30, there is little chance you will make much more than 100k per annum by the end of your career. This is why it's important to study the right degree in the right school. Of course this does not apply if you come from a wealthy and well connected family.

Good luck OP. No once can advise you, but you need to push through very hard right now to make sure you have an upside
Thanks for the very kind advice that makes a lot of sense. You are right, people like myself who are not wealthy cannot afford to make mistakes in life to have an upside.

Actually, I mentioned clearly that I can't afford a local MBA, and I didn't apply for any MBA. I also mentioned that doing research for a bank is just one of the fields i am interested in.

i already earn around 4k, it is not a problem getting a job around this level. if i wanted to earn 5-6k i simply have to work in this industry or stay in this company but i know from testing my boss there is no future in this company i.e. i will be stuck soon. so i am looking to go back to school and find a new path.

despite that, you can see the usual posters keep going off on a tangent about ivy league mbas and ib jobs.

HAPPY CNY TO ONE AND ALL!
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  #38 (permalink)  
Old 07-02-2016, 10:57 AM
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walaoeh, you sound like a decent guy who just got off on the wrong footing. imho i think your main issue is not no masters, but having a too high opinion of yourself. you seem to be an average guy with average intelligence, but keep thinking you are top 10% and benchmarking against top 10% in high finance.

you should focus more on trying to move up in your current profession rather than waste time studying and restart from scratch again. so far it seems you have no real passion in banking and getting an entry level job as an analyst doesnt seem too far from your job as a management accountant. i disagree that management accountant is a dead end job, plenty of people have moved up the career ladder in corporate finance, so it is definitely not a 4k dead end job.
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  #39 (permalink)  
Old 07-02-2016, 12:10 PM
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Thanks for the very kind advice that makes a lot of sense. You are right, people like myself who are not wealthy cannot afford to make mistakes in life to have an upside.

Actually, I mentioned clearly that I can't afford a local MBA, and I didn't apply for any MBA. I also mentioned that doing research for a bank is just one of the fields i am interested in.

i already earn around 4k, it is not a problem getting a job around this level. if i wanted to earn 5-6k i simply have to work in this industry or stay in this company but i know from testing my boss there is no future in this company i.e. i will be stuck soon. so i am looking to go back to school and find a new path.

despite that, you can see the usual posters keep going off on a tangent about ivy league mbas and ib jobs.

HAPPY CNY TO ONE AND ALL!


My apologies. I actually went back and re-read your first post. You certainly have not said that you have applied for an MBA.

Any normal, reasonably intelligent person will assume that business masters = MBA. Because that is the only business masters worth applying for.

What you have actually applied for is actually a non-MBA Masters in the NUS/NTU business school.

That is certainly the most kum gong thing ever.

You have 0 chance of getting into a bank, even as a bank teller.
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  #40 (permalink)  
Old 07-02-2016, 12:19 PM
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TS, your thinking is not logically structured and you were the one going off on a tangent in all your posts. You keep telling us irrelevant stuff about where you stay, how police interviewed you, that you did a recruiting job for a while, how well you did in your primary and secondary school and so on.

Also, you keep bragging that you are earning 4k plus and that you can probably get it up to 5k or 6k which is your objective of going for a masters and joining a bank. So why waste your time?
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