desperate

[lazyplane]

Hi,

I read the posts. And i thought i drop some questions to spur some discussion here.

From the posts above i gather :
1. It perceived that 1.8k is low as a starting pay for accountacy grad
2. There is a concern on starting too low impacting their "future" market value.

My questions are :
1. As a fresh grad, how much value do you add to a firm ?
2. What is the yardstick used for the comparison of salary ? Peer group ?
3. Tell me what you think is acceptable salary for you now, 3 years, and 5 years.

To be fair, let me offer my view on my own question.
1. Minimal unless company is very small. For any existing org, having a fresh grad is about talent development.
2. You should always remember that there is a min, medium and high. As a normal human being, i always want to be the high category for salary. but is that possible ? do my talents put me in a high band ?
If i grad with no honors, but i want medium salary, then what basis does the company pay me a medium salary ?
3. I look at annual salary + propsect because monthly is a poor indicator
If i am offered 1.8k with good prospect say big 4, i will just accept.
3 years, if i have been getting good performance review, i hope to earn above 3.5k
5 years, good performance review - 5 k.

Are my expectation too low ? maybe. especially after hearing SMU grads get 4.5k as starting pay. But the fact is history has shown, in a growing economy, new grads always get good pay.. but their pay will not grow much. Why ?
Because the company cannot readjust those they hired previously. Imagine if you been working for 1 year and u know a fresh grad has just joined the company and is getting pay higher than yours... how would you feel ?

To increase everyone is too costly an affair.. so the company will only adjust performers.the rest just have to bear with the low increment.

[k3vin]

Yes I agree with you lazyplane, TS should accept position with good prospects if it is ~$2k

However, he did mention that his offers currently are admin positions unrelated to accountancy. Hence, I do think that there is a certain market rate and 1.8k is indeed too low as this is what an average dip holder should be earning.

[lazyplane]

just remember that our nearby neighbours are all hungry for the job.....but i do believe singaporeans have something special to bring ...

in time, i believe our young singaporeans will either set us ablaze by setting standards we never dream of achieving or bring the house down....

only time will tell.

[hail]

I have no problem accepting a lower starting pay if the career development aspect is in place. However, so far I have not been that lucky.

The starting pay for most of my cohort is 2.2 and even individuals who did not do well are demanding (and getting 2.4). Luck plays a part to an extent.

I am willing to take anything because it provides experience, but rationally, i know it does not make much sense to take up a 1.5 years contract (which is a temp position - it is for a Gov. agency but they hire you under temp status so you get no benefits/ nothing basically.. been hearing a whole lot of nay Sayers in my circle so decided to post it to a bigger audience to see a different perspective) Patially, it is because, if I commit 1.5 years I want to see it through the entire period.

[hail]

Originally Posted by curryrice

Accounting grad probably have no problems landing a job. The market now belongs to finance and accounting grads!

Engineering grads? <sigh>

Wish you luck!

It is not as easy as you would imagine.

[lazyplane]

Hmm...

Well, i am not surprised that such hiring practices still occur ie low salary + 1.5 year contract. But my view is take it and keep looking out for a new job.

I am sure the employer whom is giving you this job know this... anyone whom is reasonable will understand that you cannot live to 1.8k without prospect and still have to be bonded to 1.5 years... oh please... where is the consideration for being bonded ? ... I am sure you have the right to resign by serving 1 month notice right ?

But, well, sounds like you can have means to keep searching for a new job. so enjoy the moment.

all the best !

Originally Posted by hail

I have no problem accepting a lower starting pay if the career development aspect is in place. However, so far I have not been that lucky.

The starting pay for most of my cohort is 2.2 and even individuals who did not do well are demanding (and getting 2.4). Luck plays a part to an extent.

I am willing to take anything because it provides experience, but rationally, i know it does not make much sense to take up a 1.5 years contract (which is a temp position - it is for a Gov. agency but they hire you under temp status so you get no benefits/ nothing basically.. been hearing a whole lot of nay Sayers in my circle so decided to post it to a bigger audience to see a different perspective) Patially, it is because, if I commit 1.5 years I want to see it through the entire period.

[hail]

The mistake that I made was that in the interview I assured the individual of my commitment to stay for the time period. Something I probably should have not done but I felt strongly that if you sign something or give your word you have to keep it and there are no buts about it.

Thanks again everyone

My savings are running low.. and depending on your parents is not exactly ideal for a 24 year old girl!

Originally Posted by hail

I am a recent graduate (not from a local U) with no experience and no ablity to speak chinese..

I am expecting at least $2 k

maybe I am doing something wrong? .. Any suggestions will be appreciated

It's very easy to pick up conversational mandarin in Singapore, if not for "integration" then do it for your career. Take this time to do that. Watch more Ch8.

[hail]

Having no official MT in school, I am able to comprehend chinese and malay but I cannot speak them (other than the basics)..Am planning to take official lessons where I can learn to read/write and speak it (want some sort of certification) but still searching on a provider or else (if money does not permit) i will be taking lessons from my chinese speaking siblings if their shedule permits.

Thanks!

I think you are doing the right thing in holding out for a better position. I think you shouldn't think too much on salary yet - career prospects are much more important at this stage for you.

Your first job sets you up for the rest of your career. Be realistic and hopeful at the same time.