Working in a bank

Originally Posted by Unregistered

Sorry threadstarter i hijack your thread.

I am in my 40s working in semiconductor industry. As we know the semicon/electronics industry is facing sunset in Singapore. My friend said he once took a cab and the taxi driver used to be a Sales Director in a semicon company. He was retrenched and could not find a job so he became a taxi driver.

I am thinking to join the banking industry for job secutiry with reasonable pay to feed my family and maintain my current lifestyle (everybody is saying Singapore is becoming a financial hub).

Does anybody have similar experience? Does having a MBA help for such career switch? What is the type of banking role, if any, suitable for a career start in banking? Financial planner?

thanks in advance.

Frankly, chances are quite remote unless there are ppl who are willing to pull you in. I think MBA will be more useful if you want to progress within your own industry but I am no career coach....

Originally Posted by Banking sucks

Actually, it really depends on companies - there are some research analysts, business analysts which are actually quite 'high ranking' and 'highly paid'.

I do feel that the whole banking industry is getting sucked into this corporate title inflation trend. I don't know if labelling a team lead as VP is appropriate, and if it achieves anything at all other than boasting the ego of some individuals.

cheers

Amazon.com: The Super Analysts (9780471843108): Andrew Leeming: Books

Its funny how every father, mother, son who wants to join the banking sector wants to be an investment banker or dealer/trader when 99% of people who work in the industry are in not in these areas.

Nobody mentions anything about doing consumer banking which employs a gazillion people doing everything from credit card services, mortgage loans, financial planning, credit analytics, retail banking IT, risk management, GIRO, settlements etc

Or corporate banking from SME banking to wholesale corporates, credit analysts, trade operations, account services, cash management, treasury operations,

Or the internal bank roles like internal audit, finance and accounting, human resources and strategy and planning.

Originally Posted by Unregistered

Its funny how every father, mother, son who wants to join the banking sector wants to be an investment banker or dealer/trader when 99% of people who work in the industry are in not in these areas.

Nobody mentions anything about doing consumer banking which employs a gazillion people doing everything from credit card services, mortgage loans, financial planning, credit analytics, retail banking IT, risk management, GIRO, settlements etc

Or corporate banking from SME banking to wholesale corporates, credit analysts, trade operations, account services, cash management, treasury operations,

Or the internal bank roles like internal audit, finance and accounting, human resources and strategy and planning.

Foo Mee Har the new PAP candidate is from contact centre background (that means call centre?). She worked her way up to become global head of premiere banking.

I had an interview with a major IB (the likes of Deutsche Bank, UBS, Credit Suisse). They asked me about the expected salary and I was speechless because I didn't have any clue. I will be coming from another country, if ever, so I really have no idea of the industry rate. What should be the salary bracket for a financial data analyst who maintains client static data and SSIs? Got 3 yrs of experience in the same field.

Thanks!!!

Originally Posted by Unregistered

I had an interview with a major IB (the likes of Deutsche Bank, UBS, Credit Suisse). They asked me about the expected salary and I was speechless because I didn't have any clue. I will be coming from another country, if ever, so I really have no idea of the industry rate. What should be the salary bracket for a financial data analyst who maintains client static data and SSIs? Got 3 yrs of experience in the same field.

Thanks!!!

200k sgd with additional housing allowance.

Originally Posted by ericgohjunhui

I'm currently a part time student in UOL, doing BSC Banking and Finance and its my second year. Currently I'm working in the government organization and I'm 25 this year. I do not have much working experience after being enlisted at the age of 21. I hope to work in a investment bank in future (work related to the financial markets, hopefully at the front office) because i have strong interests in this sector as i have been trading and reading up on the financial news daily. I need advise if i should leave the organization now to gain some working experience related to investment. If i don't leave, i will be graduating at the age of 26 with no working experience.
If i were to leave now before completing my degree, what type of job can let me gain the relevant experience?
If i were to leave upon graduating, what can i start off with?
Really in a mess now. Thanks alot

Stop dreaming and wake up lar !!!

Originally Posted by Unregistered

I had an interview with a major IB (the likes of Deutsche Bank, UBS, Credit Suisse). They asked me about the expected salary and I was speechless because I didn't have any clue. I will be coming from another country, if ever, so I really have no idea of the industry rate. What should be the salary bracket for a financial data analyst who maintains client static data and SSIs? Got 3 yrs of experience in the same field.

Thanks!!!

These are major IBs? Hmm...
Anyway, don't settle for less than 400K SGD all in.
If they cannot pay that, stay put, don't come here.

Originally Posted by Unregistered

These are major IBs? Hmm...
Anyway, don't settle for less than 400K SGD all in.
If they cannot pay that, stay put, don't come here.

lol go **** yourself lah. 400k SGD with 3 years experience. you have no idea what you're talking about, please don't sabo the guy.

Originally Posted by Unregistered

200k sgd with additional housing allowance.

this might also be pushing it a little. with 3 years of experience I would say 200k SGD all in, including housing allowance. but you'll exceed it in no time.