(advise needed) Training bond and contract signing

[flixonase]

I was offered a job in an engineering related field ( cannot disclose the name of the MNC company I am sorry ). They offered me a 2 years training program locally and overseas followed by a 4 years training bond. The first 2 years of training I will be paid only allowances which is just enough to get by. And other benefits will only kick in after I completed the 2 years training. Which include decent salaries.

My main concern is what are the things I should take note before I sign the contract? I have worries of what if I want to get out of the company ( due to unforeseen reasons ) but I have to pay the huge sum to break the bond. I will definitely have a lawyer look into the contract before I sign. But would like to hear the advise in the forum. I have looked into the worst possible outcome not to expect it to happen, but to prepare in case it happen. Nobody signed a bond to break it, but what ifs can happen. What are the things I should take note, ask, negotiate ?

The worst possible outcome I can think of is generally a need to break the bond and pay the 6 digit sum. Frightening amount. ( I heard NIE teachers who want to break the bond after a 4-5 years study have to pay roughly a 6 digit sum as well ). What is the worst possible outcome, or possible scenarios that might happen ?

And a last question, what other fields required employee to sign training bonds in Singapore ? I know of airlines (SIA), foreigners studying in Singapore ( study bond ) , foreigners working in Singapore through a program ( work bond ). And of course mindef and NIE teachers. Thanks !

[wulala]

your so called internship is with the edb strat?

honestly, if u have choices, a bond is not a good option..bcus it takes away the phase when u can actually put fite, go for higher studies, change fields, etc...

however, if u dont have an option, take it...it will launch ur career...if u dont care for it much, it gives u the security to plan for future...u can plan to do MBA, or some other degree , etc...

what is good for one can be bad for another, and it all depends on ur talent n options...

[flixonase]

Originally Posted by wulala

your so called internship is with the edb strat?

Hi, it is not with edb strat.

[flixonase]

Originally Posted by Unregistered

honestly, if u have choices, a bond is not a good option..bcus it takes away the phase when u can actually put fite, go for higher studies, change fields, etc...

however, if u dont have an option, take it...it will launch ur career...if u dont care for it much, it gives u the security to plan for future...u can plan to do MBA, or some other degree , etc...

what is good for one can be bad for another, and it all depends on ur talent n options...

I can't agree more, a bond binds me down. I am still looking at other options. What is fite ?

[flixonase]

up, need more advise.

My ex-company had sent me on a professional development training, and i was to complete a minimum service period upon completion of that training (it is NOT scholarship related). However subsequently due to health reasons that surfaced while I was serving my minimum period, my health conditions rendered me unable to fulfill my duties in this particular job portfolio. So i had to resign, thereby "breaking" the "training bond". As per agreement signed, I actually returned the training costs incurred to the company upon my resignation.

I am hoping to apply for other suitable jobs, hopefully in the public sector/civil service. However with this "history" of not completing my minimum service period, would I be seen as a bond-breaker and be discriminated against in my job search within the public sector?

[k3vin]

Quite a number of my friends are scholars in stat boards etc and a larger number have taken on MOE Teaching scholarship/Award where MOE pays a monthly/yearly stipend along with their corresponding fees in nus/ntu/smu before they start on their NIE postgrad dip and subsequent teaching stint.

Advice is simple, if you would enjoy the work in the MNC and the prospects are decent, go for it.

But if you think its so-so, best not to play with fire, its really a large sum and I assume the penalty will include interest incurred?

A friend of mine broke bond with a local MNC after a 2 year training stint too, had to pay everything back plus interest, but family is well off so managed to settle debts and he proceeded to take on a much better prospect.

Worst scenario, if you cant pay back, prep for lawsuit. Thats about it. Not sure what other scenarios there might be.