MAS for Mid Career Professionals

Originally Posted by Unregistered

Work at MAS or DBS better?

DBS. Used to be MAS but in recent years, work culture in MAS become poor. That also explains high attrition rate for the last 2 years.

Originally Posted by Unregistered

DBS. Used to be MAS but in recent years, work culture in MAS become poor. That also explains high attrition rate for the last 2 years.

Poor in what ways?

Originally Posted by Unregistered

Poor in what ways?

Are you considering DBS or MAS job offers? Or are you just asking in general?

Originally Posted by Unregistered

Work at MAS or DBS better?

Definitely dbs. Mas is damn low paid

Originally Posted by Unregistered

Let me ask Susan about next year's bonus plans and I will update you after that

Not Susan already, still Susan here Susan there LOL

Originally Posted by Unregistered

Not Susan already, still Susan here Susan there LOL

That guy is a siaolang who blames everything going wrong in his life on HR. The type of guy who blames the weather that day when he does badly in an exam.

Is 9k for a 33yo the normal progression for non-IT/FO?

It seems from the posts here that people tend to hit DD by early 30s and the pay for DD is around 10k

Originally Posted by Unregistered

Is 9k for a 33yo the normal progression for non-IT/FO?

It seems from the posts here that people tend to hit DD by early 30s and the pay for DD is around 10k

DDs are usually on 200k package la. 10k is too low

Originally Posted by Unregistered

Poor in what ways?

Honestly if you ask me, it is because the scope of work has exploded but the organization is not agile enough to respond to it. Regular officers have become burdened with this massive increase work that they are expected to handle without any difficulty.

One prime example is on the regulatory front. There are huge loads of new regulations coming in simply because the world has become more complex to regulate. Much of these regulations arise from developments in the US and Europe that Singapore usually follows. This is natural and understandable. But what is not acceptable is that MAS is not hiring staff at a fast enough pace to keep up. The workload has increased by 50% but the staff count has only increased by 10%.

The choices are quite simple to me actually, you either make a real effort to address the staff shortage, or you stop being a hero and regulate within your means. There is no shame at all in being a less-sophisticated regulator. We ought to recall the trite saying that "one cannot have his cake and eat it too".

There are other issues that are not entirely the fault of MAS. During COVID-19, many other companies experienced a situation where everything went online and communications were expected to become instantaneous. A letter-by-letter exchange between 2 parties now warrants a response overnight. This is unsurprising, given that such convenience should have been adopted long ago. But what MAS sorely lacks is its ability to digitalize.

It is somewhat ironic that MAS keeps pushing its financial institutions to digitalize, but its own internal processes are so manual and slow. A lot of information is scattered all over the place and impossible to find. This is because for some departments, there seems to be the lack of a proper filing system, even for routine/mundane matters. Indeed, it is the routine/mundane matters that are most suitable for digitalization. Suffice to say, you have to actually join MAS before you find out about this. I try very hard not to blame management for this, but from the management personnel I have interacted with, they are very good at understanding their own policy area but are terrible at adopting digitalization practices in their departments (or perhaps there is just no such culture in the organization). In any case, digitalization usually does not fit into KPIs or maybe it fits in the wrong manner into KPIs.

One knows that banks have to digitalize quickly or risk being left behind by the competition. The regulator on the other hand faces no such pressure. Hear hear.

What happens when your salary is nearing the cap of your grade.

Do you get redesignated to the next grade ie. AD2 to DD1 or do you simply get 0% increment every year?