Quote:
Originally Posted by Unregistered
From the way you speak, it's crystal clear that you are not an existing employee in this industry.
Please do not spread your baseless comments to others whom are in the industry planning
their move. 6 months contract and conversion rate is high with a big organization (who is just a branch in SG)??
Number 1, contract roles for 6 months are usually to cover maternity staff or adhoc work exigencies. If their budget was so good given they are a big organization, why not 12 months contract?
Number 2, increment from contract to permanent is good? (why in the first place are they hiring contract and not perm if conversion rate and increment is both good? Hire u for 6 months then convert u and give u increment? What makes you think the headcount budget will miraculously appear in current economic climate?
Number 3, opportunity aplenty? So your assumption that JP is open in allowing cross sector (i.e. Retail Business to Ops or Compliance) is common? This is common in local banks but not foreign banks.
Please focus on your studies and stop trolling around with your nonsense read from google!
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Generally, in terms of opportunities, foreign banks would facilitate your moves (i.e. retail business to Ops or Compliance) if you are more senior or they are really desperate (red flag that you shouldn't join). Otherwise, a lot of these roles (even the more inexperienced) are actually referrals or via word-of-mouth. Budget are getting more precious with more larger foreign banks moving their headcounts to lower cost locations (i.e. Malaysia, Philippines & India) and most managers would generally prefer to take on someone with no/minimum experiences but comes with a strong personal referral.
Based on my observations, there are generally about 5-10% conversion rate for contract staff converted to permanent employees. However, these conversion usually occurs after the contractor has been contracting for at least 1 - 2 years, with outstanding performance.