MAS for Mid Career Professionals

Originally Posted by Unregistered

This is correct as per what my MAS friend told me.

So will there a once off increase in base salary, ahead of the 2019 changes?

Originally Posted by Unregistered

So will there a once off increase in base salary, ahead of the 2019 changes?

I don't think there is any increase. It is merely splitting up the bonus into 12 months to pay you.

Last time: 5k monthly, total package 18 months = 90k per annum
New pay: 6k monthly, total package 15 months = 90k per annum

Originally Posted by Unregistered

Insider info: MAS bonus has been removed from 2019 onwards. Moving forward it will only be 14-15 months package. Standard 12 months + PB of 2-3 months.

Don't be too happy at being offered higher pay, it has been artifically inflated to compensate for reduced bonus.

So still no 13 month right?

Originally Posted by Unregistered

Insider info: MAS bonus has been removed from 2019 onwards. Moving forward it will only be 14-15 months package. Standard 12 months + PB of 2-3 months.

Don't be too happy at being offered higher pay, it has been artifically inflated to compensate for reduced bonus.

More like 13-14 months for avg performer. PB Quantum reduced since large part of grp bonus now form part of base pay.

Originally Posted by Unregistered

More like 13-14 months for avg performer. PB Quantum reduced since large part of grp bonus now form part of base pay.

I am wondering where people get the impression that 18 months package was the norm. Perhaps that is true at early 2000's or till early 2010's.

The last few years had always been about 15.5 months average, for an average performer.

With the salary package modified to removed the bonus at Dec which is usually 2 months+ abit. Yes, the reality is 1.75 months for average performer.

which means 12+1.75 = 13.75 months salary package is what you can expect for an average person.

So does MAS pay well for midcareers? If MAS offers an Associate position for someone 3,4 years of exp, how much should he expect?

Originally Posted by Unregistered

I am wondering where people get the impression that 18 months package was the norm. Perhaps that is true at early 2000's or till early 2010's.

The last few years had always been about 15.5 months average, for an average performer.

With the salary package modified to removed the bonus at Dec which is usually 2 months+ abit. Yes, the reality is 1.75 months for average performer.

which means 12+1.75 = 13.75 months salary package is what you can expect for an average person.

that sucks because you receive lower Employer CPF contributions

Originally Posted by Unregistered

So does MAS pay well for midcareers? If MAS offers an Associate position for someone 3,4 years of exp, how much should he expect?

Typically for Associate range is anything from 3k to 4.5k.

Type 1 - No Degree
If you have 3-4 years experiences w/o degree, likely 3-3.5k

Type 2 - With Degree
If you have 3-4 years experience w/degree, likely 4k and above.

Are MAS Officers considered civil servants and eligible for those year end AWS bonus declared recently? Understood from here that MAS has wide discretion and does not pay 13th month. So just wondering.

Originally Posted by Unregistered

Are MAS Officers considered civil servants and eligible for those year end AWS bonus declared recently? Understood from here that MAS has wide discretion and does not pay 13th month. So just wondering.

MAS is under SB (s://en.wikipedia.org/wiki/Statutory_boards_of_the_Singapore_Government)

All SB are considered Public Servants.

For Civil Servants, typically are directly working for govt. For example ministry of manpower (MOM), ministry of health (MOH), Mindef, etc.

s://en.wikipedia.org/wiki/Singapore_civil_service

Back to your question, MAS salary package is now basic + performance bonus. This is in line with Banking industry.