MAS for Mid Career Professionals

Originally Posted by Unregistered

Singapore's status as a financial hub is due to several reasons such as a strong rule of law, political stability, low corruption, educated workforce, free and open economy, etc.

Foreign investors do not really place a whole lot of importance on who the regulator is. It is also paradoxical because foreign investors may actually prefer jurisdictions with "weaker" regulations. It's well-known that Binance took its business to Dubai after MAS rejected them.

HK for example, is generally less developed compared to SG in terms of regulatory requirements, yet they still have a large and vibrant stock exchange. In terms of equities, SGX is but a fraction of HKEX (although we do quite well in derivatives).

So as much as I am proud to be in financial supervision, we really ought to be humble and not overstate our importance.

HK does have better regulators, which i think are more focused and understand the industry and key risk they are trying to control. Please ask your policy colleagues who they have been referring to in juris scan.

And one Binance doesnt make all the difference. Binance ran into issues in many financial hubs because hubs do not want to be associated with them to protect their reputation.

The factor that you state, some are important qualities in a good regulator so not sure what you are saying. Educated workforce is not unique to SG. One thing bad about Singapore people is that they tend to think too well of SG's attractiveness

Originally Posted by Unregistered

Nice way to pump yourself. But the fact of the matter is, most will still get fired in the private sector for under performance. The MAS badge wont last for long once the company realities you cant handle the hours and can't perform.

You proved my point by saying the CEO will get fired before the MAS AD. All well and good when you are in MAS. You won't command the authority you did as a MAS regulator when you are in the private sector. Try ordering the CEO or trader around while working in the private sector and see what happens.

Strawman alert.

That example is used to explain why industry needs to understand MAS regulations and expectations.

Originally Posted by Unregistered

wow. 1k++ is a lot. Envy.
heard people got double digit % increment. i only got single digit. sigh.

I am not the poster, but i got double digits increments , about 14%, but its not 1k , so you can guess i am an AD2 ranking.

I wont say its good, because when i am promoted AD1 to AD2, there is no increment, maybe like 1-2% if i recall? During COVID times. Even with this catch up , still far from my peers whom promoted before COVID.

But better than nothing i guess

Will hr expect new joiners to take a pay cut?

For example, if hr wants to offer me for an associate role but my current pay already exceeds the range for associate.

Will they switch and offer me an AD position instead? Assuming job description advertises as associate / assistant director

Yes, hr does low ball new joiners especially if your current pay way exceed the range for associate.

Try to ask nicely as hr will try to make an offer that match at least if doable.

Does anyone knows what is the average increment and salary cap for Grade 10 (DD)?

Originally Posted by Unregistered

Yes, hr does low ball new joiners especially if your current pay way exceed the range for associate.

Try to ask nicely as hr will try to make an offer that match at least if doable.

That sucks big time.. It's such a waste of time to go for many rounds of intv and in the end HR gives an offer that's below current pay.

Most hr and recruiters i encountered in pte sector try to get a sense of the candidate's expected salary even before starting the 1st round of intv

Originally Posted by Unregistered

Does anyone knows what is the average increment and salary cap for Grade 10 (DD)?

12 percent increment for DD this year

Originally Posted by Unregistered

Will hr expect new joiners to take a pay cut?

For example, if hr wants to offer me for an associate role but my current pay already exceeds the range for associate.

Will they switch and offer me an AD position instead? Assuming job description advertises as associate / assistant director

If you get low balled and not ok with it, reject the offer?

HR will always have certain criteria and constraints (sometimes illogical). Don't think MAS or any firm will offer you a higher position because of your pay requirement.

Originally Posted by Unregistered

If you get low balled and not ok with it, reject the offer?

HR will always have certain criteria and constraints (sometimes illogical). Don't think MAS or any firm will offer you a higher position because of your pay requirement.

Yup treat it like any job offer and approach it in the same way. Unless you are headhunted into the position, leverage is minimal.