SIM-UOL fresh grad starting pay

Originally Posted by Unregistered

Sometime it's also about how you look.. but for that one... it's really an act of god.. nobody can choose.. Well, hope you find a job soon....

Haha....true. I don't look ugly though. Honestly, I think i'm avg to above avg looking.

My problem is I don't know how to sell myself well during interviews.
If only, employers prefer someone who can do rather than talk well. Haiz....

Originally Posted by Unregistered

Two type of connections:

One, your family/extended family is wealthy and/or very influential. For example, your immediate/extended family are in very senior positions (CEO, DYCEO, CFO) in large listed corporates. Or better still, you are from one of the prominent SG families e.g Khoo family etc. For example, I heard Lee Hsien Yang's son is in Goldman as a investment banker.

Or, your family/extended family are in key hiring positions within banking. For e.g, your mum is a MD in M&A team (VP is not considered senior. Need at least a D).

Usually it starts off by your "connections" getting you an internship in one of the bulge bracket. Eventually, you'd be deemed to have "done well" and given a position. Everything looks legitimate on surface but underlying, you got hired because of connections.

I echo with what this guy has mentioned earlier on... In finance industry, its all about connections and personal branding. I'm currently a year 2 student studying Bsc Banking & Finance, but through connections (not family but through networking events & rapport over a course of 6months) I've interned in one of the bulge bracket banks during my year 1 summer break. Another piece of advice: do not have that self-defeating mentality just because you are studying in a private universities and therefore having to settle for a job with lower pay or unpopular roles. You have to strategise and plan your roadmap - if you know if you are not academically inclined PLEASE BY ALL MEANS find a niche for yourself - and it can be as simple as applying the porter's five force model on yourself!

Now many of you might be curious, how is this freshman in his year 1 able to break into the scene? My formula is quite simple - you have to plan and start early. As early as in army days, I've developed a passion for investments and did my due diligence by reading up ALOT on the financial markets and thereafter explored the realm of banking & finance sector. I knew this will be something that I can see myself working countless hours on without lamenting and cursing about the nature of the work.

Thereafter, I focus and channel my research into the skill sets that are highly valued by individual financial institutions. I shall not elaborate too much on it over here. A quick look at Understanding Investment Banking | Mergers & Inquisitions will give you a much better idea what is required from the respective departments.

CV & Resume should be viewed as forms of ART. Just over a year, I have at least edited my resume over 10 times to polish and refine every time I've accomplished something new - such as winning a nationwide competition or getting involved in school activities.

As for my interview, I faired reasonably well because I did have a few referees and testimonials from my past employers, schools & army. I also came prepared with some research work on companies & stocks (Yes, I was interning in ER) that I did out of my own time to showcase my passion in this line of work. I would also like to highlight that it is important to be have a strong self-concept coming to interviews as you need to be truthful and sincere in answering interview questions. Smoking in these top calibre companies just won't get you anywhere as these prominent companies are well staffed with HR managers who can scrutinise you inside-out, detecting lies and reading body languages. Of course, you've also got to be someone that can be gel in well with the rest of the department. An easy way of putting things into perspective is to visualise yourself on the other side of the interviewing room - would you want to hire a first class honor candidate with nothing else in particular to boost or a second upper honor candidate that has a lot similar & interesting hobbies as you do?

Ultimately, 天时地利人和 plays a very important part as well. What you can change and do from now is, to equip yourself with the right skill sets, knowledge and expertise in area of your targeted area of job. It might be daunting to identify your career path too early in your undergraduate life but YOU JUST HAVE TO DO IT. You need whatever edge you can gain on your hand to stand ahead of the rest. Do attend networking sessions regularly. CFA Singapore Society is one good avenue to start off with. As the adage goes: "One door leads to many other doors." If people find comfortable talking to you, they will usually share some news and whisper exclusive networking groups that are per-invite-basis base on how sincere & humble you are. Another way to quickly understand the skill sets required for the industry is to go linkedin and check out on the public profiles of individuals who have interned in your targeted companies to see what they have done leading up to their internship or graduate programmes.

Hope the rest of the SIM peeps who have seen this will start taking more actions from today! Believe in yourself!

BSc Economics & Management, graduated in 2011
2nd Upper Class Honours

Currently drawing a pay of 2.5k at a MNC I never expected I would have landed a job at. Pretty alright with my job since it's highly admin-based. But I'm on contract work though my manager has already proposed me a pay raise when my new contract term starts.

[Leeethan]

I've managed to get a few internship with a couple of banks during my summer breaks, does it help to get a job in the banks in the future? Also does these experience help in commanding higher pay?

[Manamuchacha]

Originally Posted by Unregistered

So low?? I'm also UOL fresh grad and i got offered 3.7k.. i only have third class honors.. Dun short-change yourself... At least ask for 3.2k....

Hi mind sharing your job function/scope?

[Leeethan]

actually i would like to share a part about resumes and getting a call back.
I'm doing internship at a foreign bank now in HR so i kinda get to see all these....

1st you need to know that you are NOT getting a call back for interview is not because your demand for high pay!! because talk about numbers and pay all that only happens when you have already been down for an interview (sometimes only during second interview) than they will discuss pay.

That means you are not getting the call back because your resume is not up to par.
And to be honest, alot of fresh grad dont know how to craft their resumes... and sorrry to burst your bubbles, but working experience is a must.... so dont waste your time in sch chiong-ing CCA... Cause both fresh grad (dont compare sch for now), one with working experience vs one with nothing, the choice of who to employ is pretty clear.

Next about working experience, it has to be relavent to what you are applying... meaning, you need to have a clear thought about what you want to do... your internship/ working experience has to be inline with the eventual job you want to apply... you can be selling ice cream and expect that this can help you get a bank job? see the link... And most resume dont clear the 1st round of vetting because of these 2 reasons. No relevance, no experience and the resume really cannot make it.

I'm not saying this is the only way, or im very good at this but just 2 cent worth... work on your resumes, read books on how to prepare your resume and prepare for interview... like you all said (compare sch now), we are not just competiting with SIM students, but local uni... so why leave it to chance, why take the risk, do something about your situation (something that you can change)... help yourself gain a non-comparable advantage... all these come with experience on the job.

so dont worry so much... go and chiong for our papers now... get the best grades you can, work hard during the holidays/ sch terms with PT/contract/internship... eventually all that will lead you some way.

hi guys, i am a fresh grad from RMIT in Business (Accountancy) with no relevent exp. I have just been offered $2,200/ mth, is that too low for a fresh grad?

as in $2200 for what job and position?

As an Accounts Executive in a logistics company.

Anyone in econs and finance can share the experience? Thank you^^