SIM Acc & Fin Grads

[gingerbreadb0y]

Hi.. I'm currently an undergraduate studying in SIM GE - BAFFT awarded by UOL LSE (Yr 2-3)... However I wish if there's any seniors out there who is willing to share on the career progression of SIM ACc and Fin graduate... as well as some sharing of the industry situation currently? If can knowing the starting pay relatively to our local grads would be nice ...

Originally Posted by gingerbreadb0y

Hi.. I'm currently an undergraduate studying in SIM GE - BAFFT awarded by UOL LSE (Yr 2-3)... However I wish if there's any seniors out there who is willing to share on the career progression of SIM ACc and Fin graduate... as well as some sharing of the industry situation currently? If can knowing the starting pay relatively to our local grads would be nice ...

First thing first, our degree is not awarded by LSE. If it is awarded by LSE, our scroll will have LSE's name and recognition, but it does not. Its just that the course was given academic direction by LSE and Goldsmith which people tend to conveniently leave out. I am an Acc and Fin grad but I haven't gone into the workforce yet. Currently enrolled for my masters in NTU(yes its possible, but very difficult). I have some friends who have started working with accounting firms. The starting pay varies between about 2.4k-2.9k. The higher end are those with better honours and complement with ACCA and other certs.

Relative to local grads, quite hard to find a firm that will pay us the same rate as local grads from what I hear. Jobs are still available though, but try to ask for about 200 less than your local peers to get the job easier. Once you're in, you can prove yourself to be on par as them and ask for a raise sometime down the road. Private sector is much easier to get into than public sector. Public sector will always have a good flow of local grads hence alot of competition.

[gingerbreadb0y]

Originally Posted by Unregistered

First thing first, our degree is not awarded by LSE. If it is awarded by LSE, our scroll will have LSE's name and recognition, but it does not. Its just that the course was given academic direction by LSE and Goldsmith which people tend to conveniently leave out. I am an Acc and Fin grad but I haven't gone into the workforce yet. Currently enrolled for my masters in NTU(yes its possible, but very difficult). I have some friends who have started working with accounting firms. The starting pay varies between about 2.4k-2.9k. The higher end are those with better honours and complement with ACCA and other certs.

Relative to local grads, quite hard to find a firm that will pay us the same rate as local grads from what I hear. Jobs are still available though, but try to ask for about 200 less than your local peers to get the job easier. Once you're in, you can prove yourself to be on par as them and ask for a raise sometime down the road. Private sector is much easier to get into than public sector. Public sector will always have a good flow of local grads hence alot of competition.

Wow thanks and grats on your admission to your masters! I was told LSE was the leading college for the course but wasn't aware that they will not accredit our certificates in the end. Since you mentioned that it will not be easy to enroll into NTU's masters program, may i know which hons class you have gotten? Are you on any scholarship by chance?

Also.... the accreditations and exemptions for ACCA courses I heard that they are revising as of now... Any idea how much of it was realised already??
My year two results are coming out soon... hopefully they're not too bad :X

Originally Posted by Unregistered

First thing first, our degree is not awarded by LSE. If it is awarded by LSE, our scroll will have LSE's name and recognition, but it does not. Its just that the course was given academic direction by LSE and Goldsmith which people tend to conveniently leave out. I am an Acc and Fin grad but I haven't gone into the workforce yet. Currently enrolled for my masters in NTU(yes its possible, but very difficult). I have some friends who have started working with accounting firms. The starting pay varies between about 2.4k-2.9k. The higher end are those with better honours and complement with ACCA and other certs.

Relative to local grads, quite hard to find a firm that will pay us the same rate as local grads from what I hear. Jobs are still available though, but try to ask for about 200 less than your local peers to get the job easier. Once you're in, you can prove yourself to be on par as them and ask for a raise sometime down the road. Private sector is much easier to get into than public sector. Public sector will always have a good flow of local grads hence alot of competition.

this kind of general post asking for job career and pay is senseless - there are 1001 finance jobs out there, unless you know what exactly u wana do, asking for averages is useless and mean nothing

Originally Posted by gingerbreadb0y

Wow thanks and grats on your admission to your masters! I was told LSE was the leading college for the course but wasn't aware that they will not accredit our certificates in the end. Since you mentioned that it will not be easy to enroll into NTU's masters program, may i know which hons class you have gotten? Are you on any scholarship by chance?

Also.... the accreditations and exemptions for ACCA courses I heard that they are revising as of now... Any idea how much of it was realised already??
My year two results are coming out soon... hopefully they're not too bad :X

First class. Anything less must be complemented with some work experience. If you intend to go straight for local Msc, nothing less than a FCH. Second upper might get you in but need some outstanding activities etc. No scholarship. But there is subsidy. For private degree holders, we have not utilised our MOE tuition grant that is entitled to us, hence, we can use it for our local masters degree. Its roughly a 70% subsidy.

Usually masters scholarship is very difficult to get. Even harder than undergrad scholarships. Those who are deemed excellent by the university usually just take a PhD which is already sponsored by the university. Hence, those who choose to take masters or can only take masters are without scholarship options.

[gingerbreadb0y]

Originally Posted by Unregistered

First class. Anything less must be complemented with some work experience. If you intend to go straight for local Msc, nothing less than a FCH. Second upper might get you in but need some outstanding activities etc. No scholarship. But there is subsidy. For private degree holders, we have not utilised our MOE tuition grant that is entitled to us, hence, we can use it for our local masters degree. Its roughly a 70% subsidy.

Usually masters scholarship is very difficult to get. Even harder than undergrad scholarships. Those who are deemed excellent by the university usually just take a PhD which is already sponsored by the university. Hence, those who choose to take masters or can only take masters are without scholarship options.

That was quite insightful .... thanks buddy... All the best for your course work aye.. Currently i'm floating in the midst of 2:1 but not anywhere near 1 yet ... Hopefully I can perform well this time round... But just wondering, i thought UOL will offer you masters program overseas if you are scheduled to be a FCH holder ? I've heard one of my senior getting FCH and was offered to study masters (in finance i think) in LSE itself on their school's sponsorship... No idea what was the strings attached to it though...

[gingerbreadb0y]

Originally Posted by Unregistered

this kind of general post asking for job career and pay is senseless - there are 1001 finance jobs out there, unless you know what exactly u wana do, asking for averages is useless and mean nothing

Thanks! Sounds like you have a good idea...

Mind sharing what's the career paths for accountants doing :
-Taxation
-Auditing
-Financial Reporting
-ETC?

Payscale on general in terms of years of climbing the ladder is impt (thats what i think) .. Enlighten me pls ... I'm noob when it comes to these...

Originally Posted by gingerbreadb0y

That was quite insightful .... thanks buddy... All the best for your course work aye.. Currently i'm floating in the midst of 2:1 but not anywhere near 1 yet ... Hopefully I can perform well this time round... But just wondering, i thought UOL will offer you masters program overseas if you are scheduled to be a FCH holder ? I've heard one of my senior getting FCH and was offered to study masters (in finance i think) in LSE itself on their school's sponsorship... No idea what was the strings attached to it though...

More like 'encouraged to apply' for their post-grad options in LSE knowing that you will get in. Not thrown a free scholarship to do their masters la. But the cost is still more expensive over there. And in terms of recognition, LSE is no Oxbridge. Might as well just do it locally here. Cheaper and same recognition. Hope that explains it.

I would say in the real world its all about networking and performance rather then the degree.

I graduated same course last year with a first and started work 1 day after the finals at a foreign bank doing sales basic about 3k.

2 months back from a network I managed to secure a role as a mid ops role with a fund house drawing about 5.5k.

In school I managed to be in a CCA committee and obtained CFA lvl 1 and just passed lvl 2 =)

Just note that A&F degree not only limited to accounting role. I was offered Kpmg but the working hrs turn me off.

Only advice is to know what you want to do and work towards something that can show.

[gingerbreadb0y]

Originally Posted by Unregistered

More like 'encouraged to apply' for their post-grad options in LSE knowing that you will get in. Not thrown a free scholarship to do their masters la. But the cost is still more expensive over there. And in terms of recognition, LSE is no Oxbridge. Might as well just do it locally here. Cheaper and same recognition. Hope that explains it.

Oh I see ... Got it! Thanks for sharing