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Old 11-03-2013, 10:17 PM
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Originally Posted by Unregistered View Post
Here is a benchmark for the younger folks and locals. Sincerely hope that you do better than me when you reach my age. However, I am contented and hope to retire in a few years to give opportunity to others.

Age 50
Regional role in MNC
I worked up the ranks 25 years ago with the same MNC.
Annual 330 plus 50-100k bonus depends on company performance
Stock benefits 20 - 30K per year which can multiply to about 100k but vest only 3 years
Car allowance 30k per year
Large but old apartment fully paid
$2.5 million in cash and investment
700k in CPF
children still need to complete college so will use up some of the cash

Just some words of wisdom for those who care otherwise ignore.

If you want to be successful in a large MNC, you got to work smart more than hard. Ensure you are visible in the organization and raise your hand for any opportunities when you are young. Also, it is better to stay with one company as long as possible because the casual network you form will be very important and valuable for your own development and progress. Help as many people as possible in the organization and be a good mentor for young folks when you are mid level manager. A pay forward attitude is good and can be very helpful.

My company has gone through 4 to 5 reduction in force over the years. Those that did not survive did the opposite of the above.

I've also seen many local high calibre mid level manager hired and fired within a few years because they are more talk but lack substance. Mind you, most foreign bosses (especially US) like to hire people that resembles themselves but will get a shock when the local actually behaves like them.

You will be surprise how many promotions are made by some big bosses sitting in a room and deciding basing on who they have interacted with most recently.

Hope this is useful.
Excellent advice, sir. I will heed it for my own career development. May I ask which industry you're in? It seems the stay with 1 company career track is a lot more difficult nowadays, with restructuring the norm and loyalty not being rewarded. Myself I'm a manager in an IOC.

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