(advise needed) Training bond and contract signing - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




(advise needed) Training bond and contract signing

 Citibank Cash Back Card - up to $350 cash back* - Click to Apply Now 
Reply
 
Thread Tools
  #1 (permalink)  
Old 29-12-2010, 05:47 PM
Junior Member
 
Join Date: Dec 2010
Posts: 4
flixonase is on a distinguished road
Default (advise needed) Training bond and contract signing

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 !

Reply With Quote
  #2 (permalink)  
Old 29-12-2010, 06:43 PM
Junior Member
 
Join Date: Oct 2010
Posts: 5
wulala is on a distinguished road
Default

your so called internship is with the edb strat?

Reply With Quote
  #3 (permalink)  
Old 29-12-2010, 07:42 PM
Unregistered
Guest
 
Posts: n/a
Default

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...

Reply With Quote
  #4 (permalink)  
Old 29-12-2010, 11:47 PM
Junior Member
 
Join Date: Dec 2010
Posts: 4
flixonase is on a distinguished road
Default

Quote:
Originally Posted by wulala View Post
your so called internship is with the edb strat?
Hi, it is not with edb strat.
Reply With Quote
  #5 (permalink)  
Old 29-12-2010, 11:49 PM
Junior Member
 
Join Date: Dec 2010
Posts: 4
flixonase is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
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 ?
Reply With Quote
  #6 (permalink)  
Old 16-01-2011, 09:58 AM
Junior Member
 
Join Date: Dec 2010
Posts: 4
flixonase is on a distinguished road
Default

up, need more advise.
Reply With Quote

  #7 (permalink)  
Old 23-03-2011, 06:50 PM
Unregistered
Guest
 
Posts: n/a
Default Unable to Complete Training Bond = No hope for Civil Service Jobs?

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?
Reply With Quote
  #8 (permalink)  
Old 24-03-2011, 12:16 AM
Senior Member
 
Join Date: Feb 2011
Posts: 57
k3vin is on a distinguished road
Default

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.
Reply With Quote
Reply

Bookmarks

« 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
Contract job mi8nami Income and Jobs 9 20-02-2018 11:40 PM
Advise Needed for Bioengineering grad Gan_Do Income and Jobs 33 19-06-2017 06:28 PM
Any advise on negotiating employment contract (IT job) deadman Income and Jobs 6 04-11-2011 11:55 AM
2.3k uni grad, 1yr contract MNC ok? mcpng Income and Jobs 6 22-03-2011 06:24 PM
advise greengrass Income and Jobs 3 15-12-2009 12:06 PM

» 30 Recent Threads
ST Electronics ( 1 2 3... Last Page)
785 Replies, 237,881 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,528 Replies, 1,076,586 Views
How much to ask for starting pay... ( 1 2 3... Last Page)
88 Replies, 8,073 Views
Lawyer Salary ( 1 2 3... Last Page)
9,003 Replies, 2,929,785 Views
Compare civil service salary ( 1 2 3... Last Page)
10,589 Replies, 5,813,099 Views
Big Four Promotion/Bonus/Incr... ( 1 2 3... Last Page)
30 Replies, 5,921 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,376 Replies, 1,976,606 Views
How to properly manage the income?
6 Replies, 410 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,002 Replies, 3,808,882 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
126 Replies, 29,809 Views
Higher Pay for Mid-Career Teachers
3 Replies, 5,131 Views
Tuition Teachers Make 20k
7 Replies, 5,993 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
79 Replies, 117,860 Views
High Finance Thread ( 1 2 3... Last Page)
133 Replies, 25,340 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
734 Replies, 363,787 Views
Employment agency asking for...
1 Replies, 120 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,385 Replies, 954,080 Views
Career as Teacher ( 1 2 3... Last Page)
2,833 Replies, 1,707,166 Views
What is typical RSU and sign on?
5 Replies, 455 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
1,012 Replies, 795,129 Views
Engineering role in a GLC
0 Replies, 121 Views
Roles in accenture singapore ( 1 2 3... Last Page)
404 Replies, 262,872 Views
Advisable to volunteer to be...
2 Replies, 984 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
213 Replies, 100,909 Views
Passive income ideas? ( 1 2 3)
23 Replies, 16,739 Views
Anyone applied to MTI before as... ( 1 2 3)
23 Replies, 1,849 Views
Dsta ( 1 2 3... Last Page)
825 Replies, 560,655 Views
Ntu sociology degree ( 1 2 3... Last Page)
59 Replies, 48,412 Views
MAS : Mid Career Professionals ( 1 2 3... Last Page)
219 Replies, 130,152 Views
How much does a nurse earn ? ( 1 2)
11 Replies, 20,722 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 06:10 PM.


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