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Old 24-03-2012, 11:19 AM
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Originally Posted by sgengineer View Post
Hi All,

I am currently working as an engineer at one of the oil and gas MNC. I had been with the company for 1.5 years upon graduation and my annual salary for 2011 was ~61k.

My company has a policy that new hires will have a fixed increment of ~12% per year for the first 2 years. On top of that all SG employees are given a fix bonus of 3 months regardless of company's performance. As such, I can quite accurately project my 2012 annual income to be ~68k.

Every year we have a force ranking and employees are classified into the top 33%, middle 33% or bottom 33%. This will in turn affect their subsequent year increment where the top 33% will get ~10-12% (estimate) increment, middle 33% ~5-6% increment, bottom 33% may be given very low increments.

Hence, if one is doing well in the company (consistency performing well in the top tier), he/she will be able to hit ~10k/month or ~150k/annum salary after 10 years of service. On the other hand, the average performer will be able to hit around 7k/month or ~100k/annum salary after 10 years of service.

On top of that my company position is to provide long time employment and they do not have any records of laying off employees during bad economies as compared to other oil and gas company which may pay better but had cases of retrenchment or pay cut during an economy down turn.

On the overall, what I gathered is the company I am working for provides a stable income for me to sustain a comfortable lifestyle. Moreover I typically do not need to work OT too often, maybe only about 3-4 days per month where I have to stay till 7+ pm in office.

However, I look around and see some bankers/traders who are able to make much more money and live luxuriously and that got me to consider if I want to jump over to the financial sector for that monetary reward. However I am one who value work life balance and I am worried I might regret jumping into the financial sector where the hours are always rumored to be very bad. Also, I am also considering the risk of not being able to perform in the financial sector or how the financial sector hire and fire base on the economy.

I would like to hear advices from all you fellows out there on what you will do if you are in my shoe? Be satisfied with a comfortable life, or take a risk and jump into another sector which is deemed lucrative to either make it, or break it.
how many years have u been in exxon? your projections dont seem to consider promotional increment..
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