Starting salary

Originally Posted by Unregistered

omg.
starting salaries for graduates have stagnated for more than 15 years.
*horrors*

I think the starting pay was higher 15 years ago.

[poor and stupid]

Originally Posted by Unregistered

I think the starting pay was higher 15 years ago.

You are dead right on this one!!

But to be exact, the highest was about 37years ago.

It only took a fresh grad 1yr8mths to fully pay up a 5rm hdb

from SIM portal:

Welcome to Ask the Career Coach Sharing Platform

Q1. I am a fresh graduate from University of London with a degree in Accounting and Finance (First Class Honours) with no related working experience. I have been searching for a job since end August and recently a small audit firm made me an offer with monthly salary of $2000 and a requirement to serve a one year bond. Should I accept this offer? My concern is that, I was informed by a contact in the Human Resource Division of another bigger mid-tier audit firm that I surely have a good chance to be shortlisted in coming December 2012 intake. So, should I just accept the small audit firm’s offer or wait for the upcoming interview in December?
07/11/2012

How reliable is your contact in the Human Resource Division of ‘another bigger mid-tier audit firm’? How high-up is he in the decision making process and hierarchy to influence your selection? What if it turns out that you are not short-listed? Can your contact offer you an alternative job if you not short-listed?
As a fresh graduate, should your goal not be to chalk up some experience? The present job offer essentially is giving you an assurance of a job for at least one year. With the other mid-tier audit firm, you have nothing. You can only hope. December 2012 is also a time when those people seeking a change in job will also be applying for jobs. These are individuals with some experience who may have joined their present employers in 2012 or 2011 but disappointed and want to move to ‘fresh pastures’. Then there are those who have finished their bonds with the small firms and want to move to bigger firms – mid-tier firms. In short, despite assurance by your contact, you will still be competing not just with ‘newbies’ (like yourself) but also those with a few months to about a year plus of experience.
Put simply, if you want to be ‘greedy’, you run the risk of going hungry! Have you heard of the English proverb, ‘A bird in hand is worth two in the bush’? What you have in hand is a job offer worth $24,000 annually at least ($2,000 per month and a one year bond). For the mid-tier audit firm, you have nothing and your contact is not underwriting your loss in the event you do not get the job with a mid-tier firm. For someone with a First Class Honours from University of London in Finance & Accounting, this should not be a very difficult decision.

Career Coach, Dr Kamal Kant

Disclaimer
Advice and suggestions in this column are not meant as a substitute for comprehensive professional advice.
Information/answers posted on the Members' Hub are solely opinions from the Career Coach and do not necessarily represent those of SIM.

Graduating in 2013(not Sg)
B.B.A no honours.
BO in IB
3.7k gross.

Got 28 points for O level L1R4 back then, friends were telling me I'm useless/gone case.
Relatives/friends telling my family private diploma is useless.
Networked like a ninja, took every opportunity given, didn't give up.

Bro which bank, what position? why the pay so high. thanks

Bulge bracket, back office role.

I am away for a few years pursuing my BA so I'm not sure why or whats the norm but BB banks pay around there i suppose?

BO in a bulge bracket is a dead end job anyway, just wait for him to start on the job..in 1-2 years time he will regret it

Originally Posted by Unregistered

BO in a bulge bracket is a dead end job anyway, just wait for him to start on the job..in 1-2 years time he will regret it

well for someone who scored 28 points for O level L1R4, its still a pretty good achievement.

Govt agency.
6 years ago.
$3000+

Graduated from NTU Eng in year 2009
No honors
Starting pay $2,300 only
Annual package of $32,000+

Currently drawing around $3,700 + car and handphone allowance
Annual package of $63,000+