Quote:
Originally Posted by Unregistered
MAS claims they mark to 75th percentile of financial sector pay. I think they must be referring to bank teller's pay package.
Comments here are quite accurate. Big open wound and the management is using plaster to patch. Don't believe the management about work prioritisation anymore.
MAS is quite half hearted about the work it does and falls prey to big words and empty trends like ESG and DeFi without dedicating resources to study the regulatory risks and rewards. It is ridiculous that the one and only central bank and integrated financial regulator faces a brain drain and tries to save on salaries for staff doing, by definition, cutting edge and forward looking work for Singapore as financial centre.
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I personally think the salaries are competitive.
Private sector is definitely not a bed of roses too.
But the work processes here can greatly be improved.
Long story short is that
MAS is very unwilling to spend money, yet expects to accomplish many great things. You simply cannot train a taxi driver to win an F1 race for you, especially not when he still needs to drive his taxi on a regular basis. You need to hire decent drivers, get a decent vehicle, and hire a good team.
It is quite irreconciliable to me as well that the "Agile" concept keeps being promoted, yet most processes here are everything but Agile. If you want to be Agile, you have to trust your staff and give them more leeway to explore. Instead, many promising things here are killed (along with staff enthusiasm) before they even start because, being the risk-adverse people they are, the bosses always focus on the downsides more than the upsides. They think about the risks but not about the potential. With this kind of culture, I really feel we should just forget about the whole Agile concept. New staff who come in wanting to do the right thing just become part of the machinery in a matter of months.