Advice in career choice..

[threadstarter]

I’m a local accounting graduate with second upper honours.

Not too sure what to do for my first job..

Am thinking of joining the sales line in either OCBC/DBS as relationship manager or going for big 4 audit. I believe once chosen I can’t change path already.

Anyone has any advice for me?

Originally Posted by threadstarter

I’m a local accounting graduate with second upper honours.

Not too sure what to do for my first job..

Am thinking of joining the sales line in either OCBC/DBS as relationship manager or going for big 4 audit. I believe once chosen I can’t change path already.

Anyone has any advice for me?

For your own sake. Go for the big 4 audit path. I understand the sales path offers slightly higher salary and much other lucrative commission and benefits, but ultimately, it is a sales job, and you will be focusing selling insurance products OCBC ( Great Eastern ), DBS
( Manulife). It will take a significant period of time if you decide to jump out of sales in the future.

Source: My first job was in DBS as a RM.

^ To add on, unless you are so passionate about sales. But honestly, there isn't much difference with being an insurance agent. The only notable difference is you rely on the branding on each Bank.

[threadstarter]

Originally Posted by Unregistered

For your own sake. Go for the big 4 audit path. I understand the sales path offers slightly higher salary and much other lucrative commission and benefits, but ultimately, it is a sales job, and you will be focusing selling insurance products OCBC ( Great Eastern ), DBS
( Manulife). It will take a significant period of time if you decide to jump out of sales in the future.

Source: My first job was in DBS as a RM.

Thanks for your reply.

Currently audit offering $3k as starting pay
RM basic about 3-3.5k excluding commission.
Pay wise I am sure at least can hit 5-6k per month
May I ask why did you quit?

Originally Posted by threadstarter

Thanks for your reply.

Currently audit offering $3k as starting pay
RM basic about 3-3.5k excluding commission.
Pay wise I am sure at least can hit 5-6k per month
May I ask why did you quit?

Entry audit position is pretty much standard across unless you are FCH. I was getting $3.3k back in DBS. I have absolutely no interest, it was not remotely close to what I am actually interested in the market (Equities, futures and so on). In essence, your job scope as a banker (sales) = Cold call, try to convert services to sales from the walk-in, road show.

The main scope of product = Insurance (Endowment, ILP), unit trust has way significant revenue as compared.

I've seen people from audit goes to become banker and vice versa. All the best.

[threadstarter]

Originally Posted by Unregistered

Entry audit position is pretty much standard across unless you are FCH. I was getting $3.3k back in DBS. I have absolutely no interest, it was not remotely close to what I am actually interested in the market (Equities, futures and so on). In essence, your job scope as a banker (sales) = Cold call, try to convert services to sales from the walk-in, road show.

The main scope of product = Insurance (Endowment, ILP), unit trust has way significant revenue as compared.

I've seen people from audit goes to become banker and vice versa. All the best.

Appreciate your reply.
My concern is actually the pay itself.
But I also understand career progression in sales is very limited.
Audit is starting low pay but it gets better
For sales the pay may be higher but it don’t get better I suppose.

If you are willing to share, can I know how or where did you go from RM?

Originally Posted by Unregistered

For your own sake. Go for the big 4 audit path. I understand the sales path offers slightly higher salary and much other lucrative commission and benefits, but ultimately, it is a sales job, and you will be focusing selling insurance products OCBC ( Great Eastern ), DBS
( Manulife). It will take a significant period of time if you decide to jump out of sales in the future.

Source: My first job was in DBS as a RM.

Do you know what are the requirements to become a PB? Is it RM >> PB?
Could you share more abt the roles and challenges, and career prospects?

Go audit, pass SQP and get your CA

Or go and apply as finance analyst/associate in bank or financial institutions (FI)

Sales is gonna be tough for you if you don’t have experience

Yes, once you deviate from the audit path too long, you might have to try mid tier audit firm

Originally Posted by Unregistered

Entry audit position is pretty much standard across unless you are FCH. I was getting $3.3k back in DBS. I have absolutely no interest, it was not remotely close to what I am actually interested in the market (Equities, futures and so on). In essence, your job scope as a banker (sales) = Cold call, try to convert services to sales from the walk-in, road show.

The main scope of product = Insurance (Endowment, ILP), unit trust has way significant revenue as compared.

I've seen people from audit goes to become banker and vice versa. All the best.

Let me offer an alternative point of view. I have met many people that have an accountancy degree in my line of work - they all started in audit but all decided that they had enough and got the hell out (of audit). While it is true that audit partners make $$$, it is a damn hard slog to get there. From the looks of it, those people I know decided it's not worth the pain. And for the better, I would say, as these folks are much better off doing what they do now and more successful, in my opinion. Not to mention making more $$$.

On sales, if you are really interested in markets and can make the cut, shoot for institutional sales on the IB side. The $$$ is waaaaayyyyy better and work more interesting. Don't waste your time with retail sales/RM positions (the former poster is right in saying that it is just product pushing with no real insight and have little to do with markets). And don't think of crossing over to insti from there - it does not happen.

Then how to get into sales, if not retail/ RM roles?