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  #973 (permalink)  
Old 19-06-2011, 06:15 PM
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Originally Posted by alwaysnforever View Post
hi, i feel i may be in the same situation as you, although not as robustly renumerated

May I know what field are you moving into? And since you have left the civil service, which ministry were u at to command such a high pay?

I myself is casting an eye towards the financial sector..
I don't think I can reveal where I am working...

but i am thinking of moving into professional trading as a trainee since I trade on my own too and have several ideas of my own but compeition is v stiff there too. thus I think i wld need to study a masters of finance to get into the industry since most trading houses/banks will consider my civil service exp irrelevant.

trading trainees earn peanuts as compared to the civil service if you r working in a boutique small trading firm (not big banks) but i think it will be something I like to persue and be able to strike out on my own in the future (e.g. trading full time at home).

for financial sector, I just have some advice for u...

1) Most big banks will normally throw ur resume away as ur resume is irrelevant. Aggressive SMU students already have big banks in their resume when they were doing internships with other big banks still in uni. What do you have? You can still join but expect to be in some non high flyer position, maybe Ops. Investment banking is highly unlikely.

2) Get a Masters of Finance or CFA. Masters is faster so you can make the switch fast.

3) If you are going in for the pay, expect to be disappointed. I earn more than some of my friends who work in the bank (excluding the investment banking types). Not every position in the bank is a high flyer position (think people selling credit cards at MRT). Nonetheless I still feel that they have better potential than me as they can job hop between banks but I can't. In the long run, they may earn more than the civil service, but once you go in the beginning, expect to take a pay cut if necessary.

for me my long term goal in life is to be my own boss and have freedom, be it trading at home full time or having my own business (i am looking into F & B biz).

I may not earn alot as compared to a CEO of a big corporation but I know what it takes to reach there as a CEO and how much stress and pressure you will take to earn that money. I think that is not worth it. I am better off living my own business, doing okay for money and being happy. I realise money does not equal happiness, otherwise I would be happy at my 74k income but I am not....

Of course I am a v frugal person as well and don't spend much. My gf is also not the materialistic type so I am quite lucky.

all the best!

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