SIM-UOL fresh grad starting pay

[Manamuchacha]

Originally Posted by Manamuchacha

Hi all! I'm a fresh graduate from Bsc Banking and Finance as well. I do not have any job experience in regards to my field of study even though I did hold irrelevant part-time jobs before. Currently, it's my first time seeking for my first permenant job in the banking and finance industry. I'm nervous as there aren't many bank job offerings available on jobstreet and jobsdb. Most of them require at least 1year prior job experience as well.

I'm not trying to be picky and I'm willing to accept any job offerings that will enable me to make my first breakthrough in this industry. I was given a reality check by my peers. Well, I was told to lower my salary expectation of $2500 as there aren't many job offerings in banks currently. In addition, I believe I do not have any bargaining chips to begin with due to the fact that my exams results are not that fantastic either. I understand that once I hold a permanent job and excel in it, certs doesn't matter anymore as it's more of experiences that counts.

Here's a brief breakdown of my results:
3rd class honours degree.
One distinction and three 2nd class upper grades for 4subjects (Invesment management, Managerial Econs, Principles of banking & finance, Management Science Methods)
I missed an opportunity to attain a higher class as I was short of a 2nd class grade and given that I didn't do well for the rest of the modules as well.

Pardon me if these issues had been addressed before.
1. Is $2500 as a starting salary for a fresh grad to much to ask for currently?

2. I've engaged in a few job agencies and the only reply I got was that they will inform me once they have found any vacancies in the banking & finance sector. I have been searching for jobs by applying through jobsdb.com and jobstreet.com as well for around 5months while helping out with a friend of my dad in his small business. I've seen others mentioning about applying for public sectors, as well as getting banking jobs in operations side rather than sales side. Any websites to recommend? Should I visit those corporate websites and send my job application directly?

3. Understand that Stats boards usually accept fresh graduates with higher salary expectations? Any stat boards to recommend?

Awaiting for your honest opinions. Thanks in advance and sorry my long post.

Clarified my third query.

Hi..I Graduated in 2011 with a pass degree from SIM ( uol )

Play too much and thus couldnt get honours.

Currently working as a junior market analyst in a mining company

Drawing 3400/mth base

Originally Posted by Manamuchacha

Hi all! I'm a fresh graduate from Bsc Banking and Finance as well. I do not have any job experience in regards to my field of study even though I did hold irrelevant part-time jobs before. Currently, it's my first time seeking for my first permenant job in the banking and finance industry. I'm nervous as there aren't many bank job offerings available on jobstreet and jobsdb. Most of them require at least 1year prior job experience as well.

I'm not trying to be picky and I'm willing to accept any job offerings that will enable me to make my first breakthrough in this industry. I was given a reality check by my peers. Well, I was told to lower my salary expectation of $2500 as there aren't many job offerings in banks currently. In addition, I believe I do not have any bargaining chips to begin with due to the fact that my exams results are not that fantastic either. I understand that once I hold a permanent job and excel in it, certs doesn't matter anymore as it's more of experiences that counts.

Here's a brief breakdown of my results:
3rd class honours degree.
One distinction and three 2nd class upper grades for 4subjects (Invesment management, Managerial Econs, Principles of banking & finance, Management Science Methods)
I missed an opportunity to attain a higher class as I was short of a 2nd class grade and given that I didn't do well for the rest of the modules as well.

Pardon me if these issues had been addressed before.
1. Is $2500 as a starting salary for a fresh grad to much to ask for currently?

2. I've engaged in a few job agencies and the only reply I got was that they will inform me once they have found any vacancies in the banking & finance sector. I have been searching for jobs by applying through jobsdb.com and jobstreet.com as well for around 5months while helping out with a friend of my dad in his small business. I've seen others mentioning about applying for public sectors, as well as getting banking jobs in operations side rather than sales side. Any websites to recommend? Should I visit those corporate websites and send my job application directly?

3. Understand that Stats boards usually accept fresh graduates with higher salary expectations? Any stat boards to recommend?

Awaiting for your honest opinions. Thanks in advance and sorry my long post.

Looks like you did pretty well for your best 4 subjects, lacking just one more 2nd upper grade to graduate with a 2nd upper honours. What a pity!

Nevertheless, find my answers to your questions below:
1. $2400-$2500 should be fine, but just remember to indicate that your expected salary is negotiable.
2. Yes, you should visit those corporate websites and try searching for job vacancies under their careers section. Any applications will be submitted to their HR directly. Hope this list of banks is useful: List of banks in Singapore - Wikipedia, the free encyclopedia
3. Stat boards accept fresh graduates with higher salary expectations only if you are one of the local U's graduates. The career progression is clearer and better only for local grads, enough said. Recommended stat boards: EDB, CPF board or HDB etc.

All the best!

[Manamuchacha]

Originally Posted by Unregistered

Looks like you did pretty well for your best 4 subjects, lacking just one more 2nd upper grade to graduate with a 2nd upper honours. What a pity!

Nevertheless, find my answers to your questions below:
1. $2400-$2500 should be fine, but just remember to indicate that your expected salary is negotiable.
2. Yes, you should visit those corporate websites and try searching for job vacancies under their careers section. Any applications will be submitted to their HR directly. Hope this list of banks is useful: List of banks in Singapore - Wikipedia, the free encyclopedia
3. Stat boards accept fresh graduates with higher salary expectations only if you are one of the local U's graduates. The career progression is clearer and better only for local grads, enough said. Recommended stat boards: EDB, CPF board or HDB etc.

All the best!

Thanks for the help^^

[Manamuchacha]

Originally Posted by SIM Grad

Hi..I Graduated in 2011 with a pass degree from SIM ( uol )

Play too much and thus couldnt get honours.

Currently working as a junior market analyst in a mining company

Drawing 3400/mth base

Wooh, thats alot. May I know where you got this job from?

DAMN! Ain't that the brutal truth. LoL.

Originally Posted by junkie

Did you intentionally downgrade your English to blend into the forum crowd?

If you didn't, then I would strongly recommend that you do not even try to sell yourself as an investment banker. Your English is quite honestly....... not up to par.

SVP is just a mid level manager in many banks, I doubt your uncle can help you much. Connections in the IB and PB sense refers to relationships with the upper class of the socio-ecnomic ladder.

talk about a low pay, I graduated from a Australian uni with so-so grades and would plan to go into the accounting line. Well currently thats an offer from a small CPA firm offering 1.9k a month for audit assistant job. Haix, thats life i guess for me ...

[Bean]

Originally Posted by Unregistered

talk about a low pay, I graduated from a Australian uni with so-so grades and would plan to go into the accounting line. Well currently thats an offer from a small CPA firm offering 1.9k a month for audit assistant job. Haix, thats life i guess for me ...

No! That is GG for you!!

Originally Posted by Unregistered

graduated in 2003
SIM UOL Econs and Mgmnt
2nd lower hons

Went to join Civil Service Starting was 3K but I have prior work experience but not related.
After 6 years, pay was 4.5K, was sent for Masters sponsored by orgn
I was a consistent performer, averaging B grades all the way.

Left last year. Joined Morgan Stanley.

Now salary is 8k.

no complains.

My tip: Once you apply for managerial or director post, they wun even bother ur qualifications, they want to see ur performance at work and the KPIs u achieved, referees, awards and accolades.

Wow!!! Well Done!!!
They allowed you to leave even after they sponsored you for Masters?? how is that possible? i assume you need to serve at least 5 years before you leave, am i right?

Now that you earn a lot, don't forget about those fellow human being with less or no privileges.

Cheers!!!

Originally Posted by Unregistered

Wow!!! Well Done!!!
They allowed you to leave even after they sponsored you for Masters?? how is that possible? i assume you need to serve at least 5 years before you leave, am i right?

Now that you earn a lot, don't forget about those fellow human being with less or no privileges.

Cheers!!!

It's a very good achievement for an SIM graduate in my opinion.