UBS Financial Services Industry Academy

Can we stop acting like 2.5k vs 10k is a big diff? Even if you earn 300k a year you are still gonna take 5 years without eating or paying taxes to buy a decent sized condo for your family. Unless you are cool with a studio apartment for your wife and kids. Oh yeah and don’t for get it excludes your Maserati. Direct your anger at inflationary pressures and full fledged careless monetary policies please.

Originally Posted by Unregistered

Can we stop acting like 2.5k vs 10k is a big diff? Even if you earn 300k a year you are still gonna take 5 years without eating or paying taxes to buy a decent sized condo for your family. Unless you are cool with a studio apartment for your wife and kids. Oh yeah and don’t for get it excludes your Maserati. Direct your anger at inflationary pressures and full fledged careless monetary policies please.

but with 10k they can get a bigger loan quantum for their mortgage application.

Originally Posted by Unregistered

Can we stop acting like 2.5k vs 10k is a big diff? Even if you earn 300k a year you are still gonna take 5 years without eating or paying taxes to buy a decent sized condo for your family. Unless you are cool with a studio apartment for your wife and kids. Oh yeah and don’t for get it excludes your Maserati. Direct your anger at inflationary pressures and full fledged careless monetary policies please.

That’s not what’s been talked about here. Rather, it’s about desperate trainees over-inflating their titles. Not a FO banker, but seems really distasteful to mislead people by associating yourself with IB/GM (arguably associated with the elite of the elites) and mislead others on purpose. Not to forget, there’s a big big difference between a trainee and a IB Analyst (not a marginal one).

Originally Posted by Unregistered

Can we stop acting like 2.5k vs 10k is a big diff? Even if you earn 300k a year you are still gonna take 5 years without eating or paying taxes to buy a decent sized condo for your family. Unless you are cool with a studio apartment for your wife and kids. Oh yeah and don’t for get it excludes your Maserati. Direct your anger at inflationary pressures and full fledged careless monetary policies please.

This is just ridiculous and deserves mockery. 2.5k vs 10k per month is a BIG difference. With 2.5k, there's 0 chance of you buying a condo, not even a mickey mouse studio unit. At 60% TDSR, a 6k mortgage loan based on a $10k salary can comfortably service a 3 bedroom resale prime district condo.

With 2.5k per month, you better forget about starting a family, your child is just going to suffer financially in this world. The average cost of bringing a child up till 18 years old is $400k, that's over $1k per month in expense just for 1 child alone. What about your expense? What about your HDB mortgage? How are you going to raise a family on $2.5k per month? It's different for someone living on $10k per month, their child can live comfortably and most likely would be able to go to an elite primary school (eg NYPS, ACS, etc) based on their's house 1km proximity.

Who made the requirement for having a Maserati? How many Maseratis do you see on the road? To start with, no self-respecting Investment Banker would drive a Maserati - it's an Ah Beng's car - Investment Bankers won't be caught dead in one. As an analyst or an associate, it's not a problem driving a Mazda Type 3. They're not client-facing at that level so the cars they drive don't matter, only VPs & above are expected to drive fancy cars because they have business development responsibilities.

Plently the most ignorant post I've seen around here. I'd love for you to tell someone who makes $2.5k per month that making $10k is not a big difference. Such a stupid motherhood statement, it clearly reflects someone who has not been through the working world and of someone who does not have any financial responsibilities. You an NSF or student?

Originally Posted by Unregistered

Can we stop acting like 2.5k vs 10k is a big diff? Even if you earn 300k a year you are still gonna take 5 years without eating or paying taxes to buy a decent sized condo for your family. Unless you are cool with a studio apartment for your wife and kids. Oh yeah and don’t for get it excludes your Maserati. Direct your anger at inflationary pressures and full fledged careless monetary policies please.

Im not the one flaming the over-inflating trainees. But c'mon now, 2.5k vs 10k is a BIG difference. You'd have to be incredibly delusional to think that it's the same amount. If someone offered you 10k over 2.5k you'd take it in a heartbeat.

Originally Posted by Unregistered

Who made the requirement for having a Maserati? How many Maseratis do you see on the road? To start with, no self-respecting Investment Banker would drive a Maserati - it's an Ah Beng's car

What is wrong with a Maserati sia
A self-respecting individual will drive whatever car he/she likes in their given circumstances

this title inflation **** is so prevalent in finance lol. another type is those back office scrub working in BB putting title as analyst without stating that they are from BO when its so obvious.

Originally Posted by Unregistered

this title inflation **** is so prevalent in finance lol. another type is those back office scrub working in BB putting title as analyst without stating that they are from BO when its so obvious.

Bro, FO/MO/BO put analyst ok what. We talking about shameless SGUnited trainees putting Investment Banking and Wealth Management as their titles rofl. Anw MO/BO analysts in GTP earning almost 2x more than these “IB/GWM” wannabes

Originally Posted by Unregistered

What is wrong with a Maserati sia
A self-respecting individual will drive whatever car he/she likes in their given circumstances

Not that there's anything with it from an objective viewpoint. People are free to make their own choices but a Maserati is emotionally perceived to be an Ah Beng's car and I'm not alone in this sentiment - you can check in with others. In Finance, image is everything. People make inferences based on what you display. If I barely know you and you tell me that you drive a Maserati, automatically I'll make inferences based on what I know about other Maserati owners. That's because the human mind has a tendancy to categorize and fill in missing information. To give an analogy (and I mean no malice in this), if you tell me that you're a Malay, i'll automatically assume that you're a Muslim. It's just human tendacy to categorize.

MO/BO both equally useless. These SUPER trainees are also trash but IMO if they do 1 yr exp there still better prospects than those perm MO BO analyst.

Originally Posted by Unregistered

Bro, FO/MO/BO put analyst ok what. We talking about shameless SGUnited trainees putting Investment Banking and Wealth Management as their titles rofl. Anw MO/BO analysts in GTP earning almost 2x more than these “IB/GWM” wannabes