Engineering and Technology Careers are Not Valued - Singapore is "High Cost Low Tech" - Page 2 - Forums Forums  

Go Back Forums > The Discussion Forums: > Education and Personal Growth

Education and Personal Growth Schools, further studies, getting ready for employment, and motivation stuff

Engineering and Technology Careers are Not Valued - Singapore is "High Cost Low Tech"

Thread Tools
  #11 (permalink)  
Old 25-05-2008, 07:51 AM
Posts: n/a
Default 1741

honest truth is that people in the finance industry are over paid. The reason why the industry can do so is because they are consistently ripping off customers with low interest rates and high risks products.

Reply With Quote
  #12 (permalink)  
Old 25-05-2008, 07:54 AM
Posts: n/a
Default 1742

it is easier to get to the finanace industry than you think, especially for engineers. Those who find it hard to switch usual lacks the communication required for front office or the operational knowledege for back office roles.

Reply With Quote
  #13 (permalink)  
Old 25-05-2008, 09:31 AM
Posts: n/a
Default 1743

Hey CJ, it's a free market. Nobody mandates the finance industry to overpay their people. It's like an overvalued stock--instead of screaming it's overvalued, just go with the trend and sell on high lor.

(1) Interest rate is a macroeconomy variable--it is bigger than just about "ripping off customers".

(2) High risk products have high risk because they have high potential returns as well, or else obviously nobody would be stupid enough to buy them.

You don't seem to know about finance a lot--so how do you know how easy or difficult it is to get into it?

Reply With Quote
  #14 (permalink)  
Old 25-05-2008, 10:30 AM
Chump change---
Posts: n/a
Default 1744

200k pa sgd-equiv is chump change for someone with 5-7 years experience in New York and Hong Kong.
Reply With Quote
  #15 (permalink)  
Old 25-05-2008, 11:06 AM
Posts: n/a
Default 1745

Yeah, of course, Chump change. My friend in New York working as an IT contractor earns around 500k SGD pa. But I like Singapore leh
Reply With Quote
  #16 (permalink)  
Old 25-05-2008, 11:39 AM
Posts: n/a
Default 1747

While there is some truth in this article, I feel that there are other factors to consider.From what I know,not everyone in the banking industry earn big bucks.And even if some of them do,what does it come at the expense of?Longer working hours?More stressful working environment?Higher need of taking risk?Higher chance of getting retrenched or sacked during a financial crisis? Personally,I m an engineer working in a MNC in the oil and gas industry for the past 2 years since graduation from uni.I am already drawing a pay of 5K/mth.Compared to most of my peers who have switched to the banking industry,I think I am much better paid in terms of pay. Nevertheless,I do know of friends in the banking sector who are paid very well.But it is by merit that they are paid so well.Eventually,one has to be discerning and not think that everyone who joins the banking sector can expect higher pay than the engineers. Everything still boils down to your ability and desire to succeed. :P
Reply With Quote

  #17 (permalink)  
Old 25-05-2008, 07:05 PM
Posts: n/a
Default 1753

In 2 years your salary has increased to 5k already? That's very good!!
Reply With Quote
  #18 (permalink)  
Old 25-05-2008, 09:40 PM
Posts: n/a
Default 1754

I for one, agree that engineers, for all their expertise, are underpaid. But then again, its the same old demand supply theory again. Not everyone in banks are paid so highly. Join the ops department and you'll get a monthly paycheck just over 3k, similar to what an average engineer earns in an MNC.

Remember the report on the highest earners in Singapore and their academic background? The fact is that most of them possess an engineering degree. And the next fact? They are mostly working in banks as well. So am I contradicting myself? Probably. But my point was demand and supply.

Engineers and finance graduates are highly sought after in banks and the limited number of places in front office positions mean that only a selected few get the golden paychecks. Thus the question is: should engineers get similar pays in their respective industries then?

I'm not sure if it's up to us to say. Everyone wants big money in their respective careers. And the reason why banks are paying such big bucks is because they are the primary tool of financing the economy. Without them, companies would have difficulties in hedging against risks, taking loans for expansions or evaluating their shareholders' value.

You can say that engineers create innovations of efficiency, govt bodies manage inflow and outflow of foreign investments and scientists and doctors improve and save lives. But which industry should earn the most? Who actually have an answer to this? I know I don't.
Reply With Quote
  #19 (permalink)  
Old 25-05-2008, 10:31 PM
Posts: n/a
Default 1756

Just want to cite a good friend of mine as an example. He works in a reputable investment bank and earns thrice of my annual income. Like myself, he has also jus graduated and has only been working for 1 year. However, wef next month, he ll be switching job to a non investment banker one. Even though the pay cut will be significant, he has no regrets considering the exchange for freedom and a less stressful lifestyle. Like I said before, other than the monetary compensation, one has to weigh in other factors when considering his/her career. If you have the ability and the aptitude to go for the super high paying jobs, good for you. Otherwise, it's not too bad to be an engineer. Yes. You probably won't get paid as well as an investment banker. But you won't be too miserly paid too. The worst thought to have is to naively think that just by joining the banking industry, any tom, dick and harry can make tons of money. If most of the students have this kind of thinking, I say good luck to them.
Reply With Quote
  #20 (permalink)  
Old 26-05-2008, 12:33 PM
Posts: n/a
Default 1758

wow..kinda interesting..juz found tis website nw..i m gg to NUS tis yr to study mechanical engineering..n anyone can i ask cause i do shorlisted for interview with BCA related sponsor companies>> capitaland, city developements and cpg corporation.. but found out that building n construction industry nt so lucrative at all huh?!
Reply With Quote


banking, engineering, finance, technology

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Beware of People who claim to have "Doctorates" Education and Personal Growth 23 11-07-2012 12:43 PM
Singaporeans "positive" about retirement Investments and Net Worth 4 08-09-2009 09:37 PM
Beware of Singtel's unfair offer "forced" upon you via SMS Investments and Net Worth 18 23-06-2009 11:32 AM
Next downturn "severe" Investments and Net Worth 1 18-07-2007 10:32 PM
Salary hikes "sustainable" Income and Jobs 0 17-07-2007 01:50 PM

» 30 Recent Threads
DBS Management Associate Program... ( 1 2 3... Last Page)
1,238 Replies, 231,410 Views
Career as Teacher ( 1 2 3... Last Page)
2,563 Replies, 1,547,326 Views
Salary working for SEA FP&A... ( 1 2)
15 Replies, 1,243 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
915 Replies, 737,333 Views
Lawyer Salary ( 1 2 3... Last Page)
5,634 Replies, 2,369,240 Views
Compare civil service salary ( 1 2 3... Last Page)
9,589 Replies, 5,435,827 Views
Local Uni Class of 2020 - COVID19... ( 1 2 3... Last Page)
229 Replies, 44,042 Views
Q: Management Associate at SGX ( 1 2 3... Last Page)
56 Replies, 10,797 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,154 Replies, 877,521 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,810 Replies, 1,055,529 Views
Marsh Graduate Development Program ( 1 2 3... Last Page)
30 Replies, 3,616 Views
Please Share DBS Average Months...
7 Replies, 869 Views
Whats your net worth ( 1 2 3... Last Page)
2,708 Replies, 778,854 Views
Dsta ( 1 2 3... Last Page)
802 Replies, 532,693 Views
High Finance Thread ( 1 2 3... Last Page)
77 Replies, 13,082 Views
Roles in accenture singapore ( 1 2 3... Last Page)
323 Replies, 239,447 Views
anyone working at NCS ? ( 1 2 3... Last Page)
348 Replies, 273,872 Views
Anyone worked in singhealth/nhg? ( 1 2 3... Last Page)
49 Replies, 68,886 Views
New Job Offer that only match... ( 1 2)
12 Replies, 2,039 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,206 Replies, 1,855,850 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
65 Replies, 60,977 Views
MCI and IMDA ( 1 2 3... Last Page)
44 Replies, 8,205 Views
All about Home Affairs Senior... ( 1 2 3... Last Page)
167 Replies, 168,947 Views
Salary negotiation for fresh grads ( 1 2)
10 Replies, 4,089 Views
Invest in D9 new condo
1 Replies, 1,008 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,971 Replies, 915,346 Views
List of Management Associate... ( 1 2 3... Last Page)
179 Replies, 126,232 Views
Our Poll Results: 45% Fresh... ( 1 2 3... Last Page)
46 Replies, 20,930 Views
Fresh Grad from local U cant find... ( 1 2 3... Last Page)
54 Replies, 9,862 Views
Do most MNCs pay better than the... ( 1 2 3)
25 Replies, 2,374 Views
Powered by vBadvanced CMPS v3.2.2

All times are GMT +8. The time now is 05:53 PM.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2