Unregistered |
19-08-2016 12:50 AM |
Quote:
Originally Posted by Unregistered
(Post 89603)
It's about what choice you have. If given choice of joining front office of DBS vs back office of JPM, of course is go for DBS. If the choice is about back office of JPM or front office of a local sme like Singapura Finance, then I think you must be quite mad to think the network and learning curve of a front office role in Singapura Finance has better prospects than a JPM support job.
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I dont know about you. But operations/support/mechanistic roles are just not for me.
And i see little career progression under this path. Yes other big MNC recognize the brand but im limited to similar operation roles elsewhere. Barclays ops, DBS ops, UBS ops.
Internal transfer to front office doesnt work. Not even CFA can save you. Masters perhaps yes (given hands on exposure) but that knocks another 2 years off and plentiful of money.
Small firms may recognize the brand. but during interview if you cant do financial modelling or display other hands on skills how to get hired? And honestly even if JPM tag, during networking when people hear you are compliance/support they would categorize you as one who are the 'compliance support guy'. You just wont get to do fanciful stuffs.
Similarly why people opt to work for boutique unknown investment banks, unknown family office funds, unknown private equity firms instead of back end support roles of your MNC brands. Unknown yes, but people from those MNC will at times beg you for business and engage in their services.
ultimately if i choose the back office support role path i'd be stuck in same function and my compensation will never be as high as front office people.
Anyway back office roles are starting to get outsource to India and other countries already. That just show how dispensable these jobs are and how much branding it actually provides. Not trying to look down on these jobs, they are absolutely crucial to the system. But its quite depressing how many people think they are hotshot just cause they work in renowned firms when day in day out they just do repetitive stuffs. And then with such a flat working life 1) they dread Mondays, 2) looking forward to knock offs in evenings and 3) their usual quarterly overseas holidays.
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