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Fresh Engieering Diploma holder to continue Engineering or move to Finance ?

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  #21 (permalink)  
Old 30-10-2010, 09:18 AM
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I am from the banking industry. At the tender age of 19, one would have a broad overview of what the industry is like. While it is important to consider the prospects of where you would like to work in future, very often reality is far from what we imagined.

Finance is indeed a very promising place to be provided you move right to the top and in certain fields. For a general degree holder, do not be even surprised if you start off in low paying admin jobs or sales-oriented insurance roles for yrs that has nothing to do with the lofty ambitions you have in mind or the things you will be studying in finance.

You do have to know analysts getting into top-paying fields have a pre-set pathway determined even before they graduate. mostly recruited from the creme of the crop. And may I add even local uni grads are recruited in back-end roles. This is as general as I could write whilst staying objective.

As a result, try as much as possible to choose a course of most interest to yourself. of cos consider the career prospects as well, don't make it a priority. Banks employ people from all over, engineering, arts as well.

If you studied engineering, consider the spark that first led you to love the subject. Believe me, work in banking or engineering can become very boring after some time, what will make you stay on and stick with it will be the passion that you first have. before family responsibilities and life's other big priorities hit you, choose the course you will love the most.

And that is only the most difficult decision: the one you will love the most.

p.s. I studied diploma till masters, studying what I was most passionate in with much satisfaction & less effort. work is more delusioning. This is very much an industry where you need to have contacts, so do consider personality. A place where you need to have tenacity to stay long hrs or turn up on sats and suns like it or not. please do not ask me if money plays a role, ask if you have the passion to stay in finance.





Quote:
Originally Posted by sadsack View Post
Hi all,

I am a fresh engineering diploma holder, finished NS and currently work for an MNC in the electronics company. I started working, not furthering my studies because I did not manage to get into a local university, as my poly results are only average.

After looking at the current situation in the electronics scene (low pay/raise, poor job prospects, excessive foreign talent), and all the disillusionment, regrets faced by the engineers who shared their experiences (efforts not recognised, undervalued, overworked) and all the threads by admin to get out of engineering, replies/discussion in the forum. I'm kinda demoralised and beginning to have my doubts whether I had made the right choice when I chose to study electronics engineering in polytechnic.

I initially wanted to further my studies at Unisim Electronics. I like the notion of creating something useful to improve the quality of life as what engineer would do. I also feel the satisfaction of resolving technical problems. But now, I can't see much future with electronics. Unisim still having some reputation problems from what I observe.

I wouldn't say I have passion or interest in engineering, its just a job to me. I would have gone for something if I can find an interest/passion in a particular field. Since the banking and finance sector is so highly rated now, I'm thinking of going for the degree in that subject. I don't think I wanna make the mistake like many of the people that posted here, and especially now that I'm still young. Recently, I'm also taking an interest in the finance subject, reading up on my own accord, seeing how money works and the world that revolves around it.

Should I at least switch to a different field, like Aerospace industry ? The government seem to be pushing for this right now, with WDA providing subsidies, and Unisim collaborating with Embry Riddle to give out degree courses. The aerospace MRO services sector seems viable in the long term, still having a booming record output even in the 2009 economic crisis. Or chemical engineering, working in the gas/oil industry ?

But I'm not sure if I'm cut out for the finance sector. What are the qualities and pre-requisites that I should have, knowing that the competition is stiff and environment is stressful and cut-throat ?I would say I'm just an average person with the average intelligence/aptitude. I have read that I need to be numerate and highly analytical to be in the finance line. That said, engineering is not easy either.

I humbly seek your advices and appreciate any help and clarifications that you would offer me.

Thanks !

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  #22 (permalink)  
Old 30-10-2010, 09:03 PM
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A job in the Finance industry may sound glamorous, but not all in this industry - investment bankers, auditors in the big 4, stock brokers - make the cut to earn the 5 figure salary a month like many perceived it to be.

Similary, not all in the Engineering sector draw a lowly salary. Sadsack, you're still young and probably is willing to take on a more challenging job than the one you're doing in a factory. You might want to try oil and gas sector or its' auxiliary services. Service engineers (wtih diploma only) who service those drilling equipment on the rigs can earn 10k a month when they are offshore.

Also, you might to try those companies that use lots of electronics in the offshore industry. 1 example is the Digital Positioning system onboard rigs and offshore vessel. Service engineers here also earn a nice living. They may be wearing coveralls during work, unlike their peers in finance who wear nice shirts with ties, but their pay check is no less impressive.

If you go into offshore, after many years, then you could probably try applying to be EO (Electronics Officer) on a rig. These guys work 4 weeks on and 4 weeks off. Their pay? US$13K per month. Are they less of a being compare with people from finance industry? It's all up to you if you're willing to take on a more challenging job.

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  #23 (permalink)  
Old 31-10-2010, 09:02 PM
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Originally Posted by Unregistered View Post
A job in the Finance industry may sound glamorous, but not all in this industry - investment bankers, auditors in the big 4, stock brokers - make the cut to earn the 5 figure salary a month like many perceived it to be.

Similary, not all in the Engineering sector draw a lowly salary. Sadsack, you're still young and probably is willing to take on a more challenging job than the one you're doing in a factory. You might want to try oil and gas sector or its' auxiliary services. Service engineers (wtih diploma only) who service those drilling equipment on the rigs can earn 10k a month when they are offshore.

Also, you might to try those companies that use lots of electronics in the offshore industry. 1 example is the Digital Positioning system onboard rigs and offshore vessel. Service engineers here also earn a nice living. They may be wearing coveralls during work, unlike their peers in finance who wear nice shirts with ties, but their pay check is no less impressive.

If you go into offshore, after many years, then you could probably try applying to be EO (Electronics Officer) on a rig. These guys work 4 weeks on and 4 weeks off. Their pay? US$13K per month. Are they less of a being compare with people from finance industry? It's all up to you if you're willing to take on a more challenging job.
if you ask me, "offshore" definitely sounds much less attractive than front office dealing room. just the babe factor alone is sufficient for consideration.

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  #24 (permalink)  
Old 03-11-2010, 06:42 PM
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The reason an engineering PROFESSIONAL's pay is so low compared to other professionals is 'cos there is an oversupply of engineers - from China, India, Philippines, Indonesia, etc - who are willing to accept less pay and thus causing a market distortion.

Unless, the finance industry is flooded with foreigners, pay should continue to be lucrative even for an "average" finance professional.

Finance is getting expensive to operate in Singapore with the high manpower cost. It's time to INJECT more foreigners in the system to cool this overheated sector before the companies move to cheaper locations.
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  #25 (permalink)  
Old 05-11-2010, 02:20 AM
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Quote:
Originally Posted by zara90210 View Post
The reason an engineering PROFESSIONAL's pay is so low compared to other professionals is 'cos there is an oversupply of engineers - from China, India, Philippines, Indonesia, etc - who are willing to accept less pay and thus causing a market distortion.

Unless, the finance industry is flooded with foreigners, pay should continue to be lucrative even for an "average" finance professional.

Finance is getting expensive to operate in Singapore with the high manpower cost. It's time to INJECT more foreigners in the system to cool this overheated sector before the companies move to cheaper locations.
Finance is already flooded with foreigners.
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  #26 (permalink)  
Old 05-11-2010, 08:59 AM
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I'm not sure how far one will get by looking at female colleagues everyday.
But I'm in offshore as I'm not degree holder, admittedly I've only average results in poly.
What attracted me to offshore is the 4 weeks on, 4 weeks off routine. So basically, I only work half of the year and do not need to take annual leave to go for a vacation or to run some errants. I can do this during my off days. And they do pay during the off days, more importantly it's tax free as the pay is drawn overseas. Of course the downside is, if there is any non urgent matters during my time offshore, I can't be home for it.
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  #27 (permalink)  
Old 07-11-2010, 02:59 PM
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Then the best engineers should learn to be more worldly wise and more shrewd to take advantage of the capitalistic nature of the world they live in. If money is what they want, learn to be like Steve Jobs rather than Stephen Hawking. Otherwise, they should just shut up and accept their average pay, or contribute to the world in a totally different way like Stephen Hawking.
steve jobs is just ceo, he has got the luck to have Steve Wozniak creating macs for him. you dont see the name wozniak all over do you? he's the real brains behind apple.

engineering background helps you with a headstart, it's your vision and abilities that defines your future paycheck.
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