Starting salary

Originally Posted by MeeGoreng

I'm in IT industry.
My starting salary was 38.5k p.a 3.5 years back. Now it's 125k p.a
It's quite okay for now not as high as banking fellas..

Wow, To jump from 38.5k -->125k p.a in 3 years, its about 300% increment approx.

From my experience in IT industry, when one jump coy, the next coy will usually look at your current salary and offer you an increment based on that, around 20% would be above average. Even for promotion within coy, the increase would be 10-15% at best.

For your figure to be credible (300% increment in short span of 3.5 years), you must have achieved something spectacular.

Did you:
. work as an intern 3.5 years back and after graduating with honors from Oxford university 3.5 years later, switched coy and joined Google ?
. jumped from software developer to senior manager or director (you must have implemented someting similar to facebook to have that big jump) ?
. jumped from a small coy with 38.5k to a big coy (at a rather senior position) to get the 300% increase?
. management trainee at 38.5 k for 3.5 yrs and graduate after 3.5 years after the program to be commanding 125k? (i m rather curious which IT coy has such program, as far as i understand, not even Accenture has such program with big switch in pay in 3.5 years either)

If you think back, 3.5 years earlier, it doesn't make sense either for you to be commanding 38.5 k 3.5 years back if you could command 125k today if its not either of the above scenarios.

Smoky and fishy eh ?

Originally Posted by yk89

But I have a degree!

Ur degree worth Only getting $1000 a mth?? consider taking a diploma at a recognise institution instead..

Originally Posted by yk89

I completed my undergraduate studies in BA Psychology at SIM Global education and am only waiting for the official graduation now. I haven't been able to look for a full-time job for months and now there is one job which is willing to hire me on a part-time basis (about 30 hours per week) and the pay they offered me is $1000 (excluding CPF contribution). When I asked how much would a full-time job there pay me, they said it'll only be SLIGHTLY more than $1000. Am I very underpaid?

Wow! i thought I'm the worst. You beat me to it. No offense.

I hope you're doing better now.

Based from your user name, "yk89", i can assume that you're 22 years old this year. Correct me if i'm wrong.

You're still young. i suggest take another degree or master degree that's relevant in Singapore context (i.e. accounting or finance).

Your future is in your hand. You might heard countless of advices. They can show you the door but ultimately, you're walking through the door.

If all else fails, try joining Social Services (they need people) since you're holding a Psychology degree.

I wish you All the Best and Good Luck!

Originally Posted by ricardo

Well, just got my bonus this year. In case you got the impression it is in rupiah, nope, its after conversion from USD to SGD.

The route is not easy, luck plays a big part as well, not just interview skills, academic credentials (good degree in any fields can apply, I have team mates with Bachelor of Science from Stanford)

Applicants for such programs usually numbers in hundreds if not thousands (globally). For my batch in 2006, there are only 25 vacancies. After 2 years, everyone will be posted to different depts, depending on performance during the 2 years. Among the 25, 4 of us got into investment banking.

That's glamour part, for the unglam part, we worked crazy hours until midnight everyday (sometimes have to come to office on Saturdays as well), you got to have the passion for it otherwise you can't last.

When the money is good and the work is somewhat challenging (not dull like wrapping cheese), any Tom or Harry will have the PASSION for it.

I can't believe people still talk about passion these days.

But you were right on one thing - LUCK plays a BIG part.

Originally Posted by Unregistered

When the money is good and the work is somewhat challenging (not dull like wrapping cheese), any Tom or Harry will have the PASSION for it.

I can't believe people still talk about passion these days.

But you were right on one thing - LUCK plays a BIG part.

If you are working more than 12 hours a day EVERYDAY and you don't like what you are doing, it's like u are being paid for bad sex. Initially u might be motivated by the money aspect, thrilled for the first 6 months, subsequently, u start to feel that hey I am earning scores of money, easily thrashing everyone everywhere, but I don't enjoy reading financial reports, I don't enjoy analyzing equities market or finance data and I have to face the damn chick for most of my life, isn't that sick?

Eventually, u will start to hate your life and might end up castrating yourself.

Money is good but it can only be a hygiene factor. It can never be a motivational factor.

Luck and miracle won't help if you even have the credentials in the first place e.g. Degree without good honors won't even get u past the resume screening process. Even if your big luck grant you your first round interview, if you cannot convince your panel of interviewers why they should hire you over other candidates from excellent backgrounds, you are still crapped either. Luck can only get you a certain distance, personality, credentials, abilities and mindset matter as well.

I'll add one more thing: your family connections matter too. If your dad is a semi-big customer of the bank, you can easily get a job with 200k salary.

Well, this, is also LUCK. Cheers!

Originally Posted by Unregistered

I'll add one more thing: your family connections matter too. If your dad is a semi-big customer of the bank, you can easily get a job with 200k salary.

Well, this, is also LUCK. Cheers!

Unfortunately, i have to agree with you 100%. If you know the right people, you'll get whatever you want.

Originally Posted by ricardo

Well, just got my bonus this year. In case you got the impression it is in rupiah, nope, its after conversion from USD to SGD.

The route is not easy, luck plays a big part as well, not just interview skills, academic credentials (good degree in any fields can apply, I have team mates with Bachelor of Science from Stanford)

Applicants for such programs usually numbers in hundreds if not thousands (globally). For my batch in 2006, there are only 25 vacancies. After 2 years, everyone will be posted to different depts, depending on performance during the 2 years. Among the 25, 4 of us got into investment banking.

That's glamour part, for the unglam part, we worked crazy hours until midnight everyday (sometimes have to come to office on Saturdays as well), you got to have the passion for it otherwise you can't last.

like to check with you. so u got posted to ibanking in 2008 and your pay became 7.5k then? your 85k bonus is received this year? What is your current basic salary now?

I'm dip grad as a Asst Engineer (No EXP)
My starting is 2.8k monthly.
Is it alright for me?

ZzzP

will we ever be content if we are always comparing?