Quote:
Originally Posted by Unregistered
As with government service, the prospects of everyone differs and is generally as such:
1) Top Tier - MAS / Presidents' Scholar (who transfer from other ministries)
2) Second Tier - First Class Honors Fresh Grad who join MAS direct from School
3) Third Tier - Other Second Class Honors Fresh Grad who join MAS direct from School
4) Bottom Tier - Mid Careers
The tiers shown above generally shows a person's "potential" which have a direct relationship to your promotion, opportunities, bonus and pay. The difference between the bonus between the top tier and the bottom tier can be significant - i.e. at least 2.5 months difference.
While they purport to be competitive in terms of pay and benefits and perform yearly benchmark exercises, do note that they generally benchmark against support functions such as Operations and HR salaries in banks. The benchmark exercises do not include the money makers such as front office (which make sense since not all MAS officers are money makers), and not even risk management functions such as internal audit or compliance (this does not make sense however).
Perks wise - The flexibility to take no pay leave is unrivaled. Best for mothers who wish to have such flexibility. |
I was from
MAS grad prog. Grad prog ppl are treated the same as
MAS scholars. In fact, I believe I got way more perf bonus than the scholar in the same batch. I did not observe scholars getting promoted abnormally faster than others, though i think they try to give them more showcase opp but these are not something that is unreachable if you are a motivated non-scholar. Likewise, there is no distinction of first or second class upper degree holders - same pay and the progression after your first 5 years there depends on how you perform in your first 1-2yrs (basically impressions form in the first few years and that will determine your opportunities to showcase and hence your promotion chances and perf bonus amt) and also depends on your boss (pretty much like outside actually). It is possible for mid-career to join and be in the same track as those direct from fresh grad but these are usually those who are relatively junior e.g. if they spent only abt 2-3 yrs in audit before moving to
MAS.
The real crappy part of joining
MAS is you will feel stuck after your first 5 to 7 yrs. it will be exponentially hard to get promoted after you reach DD (which is the peak for some of the ppl there), your salary growth will start to decelerate when compared to peers in private sectors. At that stage, you will really need to think hard if you wanna continue and stagnate there or go out and try. But another set of challenges may set in, cuz after 5 to 7 yrs of conditioning in
MAS, it can get quite difficult to adjust to the outside world. But yea if you are fresh grad, enjoy your first 5 to 7 years. it is a decent experience, i would say it definitely trumps working banking BO or audit.