Advice needed regarding field change and starting salary (Bio and Econs) :) - 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




Advice needed regarding field change and starting salary (Bio and Econs) :)

Reply
 
Thread Tools
  #1 (permalink)  
Old 10-02-2011, 07:53 PM
Junior Member
 
Join Date: Feb 2011
Posts: 2
ynwa is on a distinguished road
Lightbulb Advice needed regarding field change and starting salary (Bio and Econs) :)

Hi guys.. Need some life and career advice pls.. Hopefully some of you wiser and older ppl willing to share your experience/advice..

Background:
I'm currently looking for a F/T job after ORD, will be 23 next year. I have a diploma in biotechnology but had failed to work hard enough (read: low gpa). Besides, imo, life sciences industry is too competitive and paper-dependent to stay in. So after some consideration I decided that I shall join the finance industry and applied for P/T Sim-UOL Bach. in Econs and Finance which will commence class in Aug 2011 if I'm successful (most likely ).

Ok, problem right now:
I'm offered a job by a job agency, job scope covering compliance in a reputable bank and doing background checks on clients regarding money laundering etc. Monthly salary 1.5k b4 CPF, 6mths contract. I find it a tad too low, esp when comparing with a starting pay for a dip-holder lab assistant - 1.8k.

The agent tries to convince me it's pretty good pay for entry level (I guess a portion of it has alr been taken off by the agency) and I will be able to hop onto something more relevant in future while in the company.

Questions:
1) Do you think I will be able to "hop" to something more relevant in future within the company? (Me: highly doubt it's that easy) Or do you think I should persist in looking for a firmer, more relevant, first stepping stone?

2) Should I just stick to a bio job eg. lab assistant etc (@~1.8k starting) for 3 years until I graduate with a full-fledged econs & finance degree, or should I stick to entry level finance jobs (@~1.5k) and work my way up? Is the climb hard for someone like me with no relevant qualifications yet?

I wouldn't mind climbing for that 1.5k; I just don't want to climb and realise there's a glass ceiling 2 steps up, or taking 3 years just to climb that when with a degree 3 years later the starting pay alr beats all that climbing.


Hope to hear from you guys.. And sorry for the WOT. Thanks!

Reply With Quote
  #2 (permalink)  
Old 11-02-2011, 03:55 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by ynwa View Post
Hi guys.. Need some life and career advice pls.. Hopefully some of you wiser and older ppl willing to share your experience/advice..

Background:
I'm currently looking for a F/T job after ORD, will be 23 next year. I have a diploma in biotechnology but had failed to work hard enough (read: low gpa). Besides, imo, life sciences industry is too competitive and paper-dependent to stay in. So after some consideration I decided that I shall join the finance industry and applied for P/T Sim-UOL Bach. in Econs and Finance which will commence class in Aug 2011 if I'm successful (most likely ).

Ok, problem right now:
I'm offered a job by a job agency, job scope covering compliance in a reputable bank and doing background checks on clients regarding money laundering etc. Monthly salary 1.5k b4 CPF, 6mths contract. I find it a tad too low, esp when comparing with a starting pay for a dip-holder lab assistant - 1.8k.

The agent tries to convince me it's pretty good pay for entry level (I guess a portion of it has alr been taken off by the agency) and I will be able to hop onto something more relevant in future while in the company.

Questions:
1) Do you think I will be able to "hop" to something more relevant in future within the company? (Me: highly doubt it's that easy) Or do you think I should persist in looking for a firmer, more relevant, first stepping stone?

2) Should I just stick to a bio job eg. lab assistant etc (@~1.8k starting) for 3 years until I graduate with a full-fledged econs & finance degree, or should I stick to entry level finance jobs (@~1.5k) and work my way up? Is the climb hard for someone like me with no relevant qualifications yet?

I wouldn't mind climbing for that 1.5k; I just don't want to climb and realise there's a glass ceiling 2 steps up, or taking 3 years just to climb that when with a degree 3 years later the starting pay alr beats all that climbing.


Hope to hear from you guys.. And sorry for the WOT. Thanks!

Would you be able to work full time and study UOL part time? That would be the best scenerio and since you are young, you will be able to take the hectic lifestyle for a while until when you settle down in your late 20s.

How I would suggest is to take the bank job first, finish up the 6-months contract and it should be the start of your study at UOL in August. If you could make it a permanent job and study at the same time, best. Otherwise study full time and finish up the degree ASAP with good honours.

When you grad, you are slightly better off from your peers as you have done 6 mths contract in a bank before. Slightly better only but still better than nothing.

From there, you can try the area of the bank you want to venture into (do your research during the time while studying). Front office is very very tough to get in and all the ivy league uni grads are all eyeing the limited slots, so.. good luck if you want to try for it.

The money laundering job should be classified middle or back office and under compliance, these roles are quite mobile between banks and you can move around for higher salary in the future.

Acadamically, there are tons of pple with basic degree and just go to Expo during CFA exams, you will be shocked at the number of pple taking CFA. So I suggest you slowly work your way up to basic degree, then certification like CFA, FRM, etc or second degree MBA (i will not go into the great CFA vs MBA debate)

Technical skills can bring you far enough to be team leaders, junior managers but beyond a certain level, high EQ (of coz with good technical skills) will bring you to the even higher management levels. Last but not least, networking is also of utmost importance.

Hope this helps and good luck!

Reply With Quote
  #3 (permalink)  
Old 13-02-2011, 02:40 PM
Junior Member
 
Join Date: Feb 2011
Posts: 2
ynwa is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
Would you be able to work full time and study UOL part time? That would be the best scenerio and since you are young, you will be able to take the hectic lifestyle for a while until when you settle down in your late 20s.

How I would suggest is to take the bank job first, finish up the 6-months contract and it should be the start of your study at UOL in August. If you could make it a permanent job and study at the same time, best. Otherwise study full time and finish up the degree ASAP with good honours.

When you grad, you are slightly better off from your peers as you have done 6 mths contract in a bank before. Slightly better only but still better than nothing.

From there, you can try the area of the bank you want to venture into (do your research during the time while studying). Front office is very very tough to get in and all the ivy league uni grads are all eyeing the limited slots, so.. good luck if you want to try for it.

The money laundering job should be classified middle or back office and under compliance, these roles are quite mobile between banks and you can move around for higher salary in the future.

Acadamically, there are tons of pple with basic degree and just go to Expo during CFA exams, you will be shocked at the number of pple taking CFA. So I suggest you slowly work your way up to basic degree, then certification like CFA, FRM, etc or second degree MBA (i will not go into the great CFA vs MBA debate)

Technical skills can bring you far enough to be team leaders, junior managers but beyond a certain level, high EQ (of coz with good technical skills) will bring you to the even higher management levels. Last but not least, networking is also of utmost importance.

Hope this helps and good luck!
Hey there.. Thanks for your help! Yea I'm going to take the job up, try to work full time + study part time.. U certainly taught me sth new abt CFAs there..

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
Advice needed!! SPF Senior police officer vs. Private Sector Liquid Income and Jobs 65 31-05-2019 01:54 AM
Starting salary blackswan Income and Jobs 217 03-01-2018 11:31 PM
Fresh Grad with Masters starting salary in banking Novice Income and Jobs 18 09-02-2016 08:57 PM
Advice needed for Ivy-L Grad down on his luck. Flyinghome Income and Jobs 31 16-03-2011 11:33 PM
Advice needed boliao123 Income and Jobs 1 18-06-2010 05:41 PM

» 30 Recent Threads
Lawyer Salary ( 1 2 3... Last Page)
10,000 Replies, 3,336,457 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,848 Replies, 1,238,500 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
1,106 Replies, 865,817 Views
Compare civil service salary ( 1 2 3... Last Page)
11,152 Replies, 6,213,165 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
436 Replies, 144,571 Views
UOB Management Associate Program ( 1 2 3... Last Page)
349 Replies, 204,186 Views
GovTech career grade ( 1 2 3... Last Page)
173 Replies, 183,373 Views
ST Electronics ( 1 2 3... Last Page)
1,301 Replies, 318,417 Views
High Finance Thread ( 1 2 3... Last Page)
155 Replies, 36,619 Views
How much do you earn and save? ( 1 2 3... Last Page)
194 Replies, 40,603 Views
Singtel Management Associate... ( 1 2 3... Last Page)
180 Replies, 104,315 Views
Comp Science Frsh Grad Salary ( 1 2 3... Last Page)
149 Replies, 6,526 Views
Starting pay for fresh uni grad... ( 1 2 3... Last Page)
67 Replies, 5,763 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
3,941 Replies, 1,400,100 Views
Lonza Biotechnologist
0 Replies, 46 Views
Career as Teacher ( 1 2 3... Last Page)
3,013 Replies, 1,888,546 Views
MOH Graduate Studies Scholarship ( 1 2)
15 Replies, 16,130 Views
Third Class Honours/Second Lower... ( 1 2 3)
29 Replies, 27,286 Views
SEA Limited
6 Replies, 1,521 Views
Audit DGS
0 Replies, 66 Views
Starting new employment while...
6 Replies, 295 Views
Job Application with MOE... ( 1 2 3... Last Page)
269 Replies, 241,435 Views
Big4 Tax Career Prospect
4 Replies, 2,281 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,560 Replies, 2,114,869 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,692 Replies, 1,054,431 Views
Personal Assistant
0 Replies, 85 Views
Working at Changi Business Park ( 1 2)
18 Replies, 3,644 Views
DBS tech seed programme ( 1 2 3... Last Page)
236 Replies, 36,695 Views
Working in HDB ( 1 2 3... Last Page)
366 Replies, 294,172 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 02:48 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2