Salary of industrial scholars - 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




Salary of industrial scholars

Reply
 
Thread Tools
  #1 (permalink)  
Old 06-08-2011, 09:20 AM
Junior Member
 
Join Date: Jul 2011
Posts: 6
YGYGYG is on a distinguished road
Default Salary of industrial scholars

Is it true that salary offered to scholars by the sponsoring company is lower than market rates?

Reply With Quote
  #2 (permalink)  
Old 06-08-2011, 07:40 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by YGYGYG View Post
Is it true that salary offered to scholars by the sponsoring company is lower than market rates?
Generally should be the same as market rate. People may think that HR will try to lower the pay, but there's a greater loss if the "scholar" chooses to slack until their bond is up and leave the company.

Some companies will cut your salary during your duration of study to offset the tuition fees.

Reply With Quote
  #3 (permalink)  
Old 07-08-2011, 03:03 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by YGYGYG View Post
Is it true that salary offered to scholars by the sponsoring company is lower than market rates?
I was from HR and BOTH of you are right in ways.

Scholars will get the SAME market rate as their PEERS within their same age band.
However, as they are 'scholars' who are supposed to be driven and intelligent, they will oversee more portfolios (usually double) within the organisation. this is basically having 1 person, 1 salary, 2 jobs. - this is monitored very carefully by the Talent Management Officer.

Even if the scholar is shown not to perform, they will still get 're-designated' upwards(we cannot show that our "scholars" are poorly chosen). this serves in 2 ways

1) it safeguards the organisation's reputation for talent identification
2) it is a form of 'counselling' to leave. this is explained in the next paragraph.

For non performing scholars, as their designations go up based on the their progression roadmaps (and they assume more duties), their salaries however do not follow as fast. hence there will be a growing salary disparity between them and the staff of the same rank (who might only hold a single portfolio). this would eventually lead them to leave after their 1st contract, or break their bond (which is actually, not discouraged for many non-performing scholars).

In terms of economics, a scholarship is a 7-10 year depreciating 'asset' valued at cost. the cost of your scholarship will be equivalent to the cost of hiring 1.5-2 people for the duration of your bond, depending on the valuation of your scholarship.

however, should you choose to break your bond, it becomes a maked up valuation (this is usually masked in the prime rate interest), and the liquidated damages you will have to pay would offset the NBV of your scholarship with a profit. this profit is rolled over to offset the operating cost of hiring a new staff/staffs to cover your duties.

hence the more expensive the value of your scholarship, the more work you can expect to do when you return.

however once you finish your bond, my advice is to renegotiate your salary package when they offer you a re-contract. Many scholars don't know this and accept the 1st offer they receive. but truth is, after your bond is up, your financial obligation to the organisation is fulfilled, and you can ask for your money's worth.

there is no such thing as a free lunch.

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
Only 47 percent of Scholars stay in HDB Salary.sg Education and Personal Growth 10 15-04-2011 08:25 PM
None of this year's President's Scholars doing Engineering Salary.sg Education and Personal Growth 47 09-02-2011 12:54 PM
Again, Presidentís Scholars Not Doing Engineering or Science Salary.sg Education and Personal Growth 9 19-09-2009 02:16 PM

» 30 Recent Threads
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,686 Replies, 3,315,665 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
9,185 Replies, 2,889,153 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,158 Replies, 3,150,698 Views
ST Electronics ( 1 2 3... Last Page)
3,143 Replies, 956,608 Views
Lawyer Salary ( 1 2 3... Last Page)
18,047 Replies, 7,133,555 Views
Management Consultant MBB Big4 etc... ( 1 2 3... Last Page)
227 Replies, 106,304 Views
How is life as a doctor in... ( 1 2 3... Last Page)
4,279 Replies, 2,114,337 Views
DBS tech seed programme ( 1 2 3... Last Page)
2,497 Replies, 725,779 Views
Career as Teacher ( 1 2 3... Last Page)
6,222 Replies, 3,940,248 Views
Micron starting pay ( 1 2 3... Last Page)
563 Replies, 215,421 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
966 Replies, 658,958 Views
For those with 2-5 YOE, what is... ( 1 2 3... Last Page)
1,044 Replies, 253,327 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
730 Replies, 205,540 Views
IMDA (under MCI) ( 1 2 3... Last Page)
354 Replies, 181,227 Views
Roles in accenture singapore ( 1 2 3... Last Page)
5,398 Replies, 1,170,071 Views
20% salary bump? ( 1 2)
19 Replies, 5,159 Views
Engineer Pay ( 1 2 3... Last Page)
524 Replies, 285,233 Views
RM Salaries and Commissions
0 Replies, 89 Views
What are some good non-fang tech... ( 1 2 3... Last Page)
71 Replies, 18,709 Views
Be a commodities trader ( 1 2 3... Last Page)
223 Replies, 216,406 Views
jobs at Tech companies
4 Replies, 3,242 Views
Bnp paribas graduate ( 1 2 3... Last Page)
194 Replies, 114,036 Views
Credit Suisse ( 1 2)
14 Replies, 5,689 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
341 Replies, 110,616 Views
CSA (Cyber Security Agency) ( 1 2 3... Last Page)
560 Replies, 233,325 Views
How much do you earn and save? ( 1 2 3... Last Page)
385 Replies, 181,939 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
4,475 Replies, 2,533,632 Views
GovTech Tech Associate Program... ( 1 2 3... Last Page)
351 Replies, 143,482 Views
Compare civil service salary ( 1 2 3... Last Page)
14,844 Replies, 9,613,110 Views
Relationship manager / Personal... ( 1 2 3... Last Page)
49 Replies, 51,150 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:44 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2