Excuse me, as a fresh grad w/o exp where are you going to find a job that pays $7.5k or even $4.5k? Even $3k as a starting pay is already on the higher side. It's mainly because I've already been searching for months and didn't even get any calls for interviews, that's why I'm contemplating taking up this contract job for the time being to get some relevant experience first. I'm looking for serious advice, don't troll me with sky-high starting salaries.

Full time UOL-BSc Business
Bunker Operations Exec
SGD2400
No exp

Excuse me, just because you can't seem to impress employers to get a good paying job does not mean other banking fresh grads are like you.

You want serious advice then I'm telling you you are wasting your time doing this kind of low paying contract job. What relevant experience are you going to get in a blue collar banking job?

Even part time private uni grads and non-finance grads from local uni are posting offers between $2.2 - $3k from non-banks, so there must be fundamentally something wrong with your CV or in the way you are selling yourself to interviewers.

I suggest you explore non-bank executive jobs outside and get someone to advise you on where your presentation went wrong. A major in B&F that cannot get any offer except a $1.8k contract position for diploma holders is clear indication something is screwing up. The economy may not be booming now, but it ain't depression level yet.

sorry if this is a bit unrelated but since it was mentioned in this thread..may I know how you guys apply for intern beside going through SIM....was the process easy and what are the main requirments?

You shld get someone to look at your resume and also look in the mirror and as yourself why.

hi. i got a questions. i have been seeing people from the local forums saying that going into those investing banking, private banking or trading jobs who require some connections. but can anyone be more specific? like knowing someone who works in IB is enough to bring you in or anyone from the management? my uncle works as a senior vp in a local bank... which means I can get him to do some recommendations for me ??

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.

whats your honours?
my 2nd upper SIM-UOL fren join stat board after 1 yr exp get $36xx.

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.

Seeking for first permanent job in banking and finance sector
 

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

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^^

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

Good advice.
 

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

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!!

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.

You guys are quite wrong if you think that only local grads own the world and deserve to be paid higher salaries than us.

I worked after graduating from poly, and took a part time degree from UOL. I had offers from NUS, NTU, but they didn't offer part time degrees, which is why I chose UOL.

Gaining work experience, I had a pay of 2.4K before I grad from UOL with just a diploma cert workin in govt agency

After my degree i jumped and had a starting pay of 3.5K at 26 yrs old

So guys, do not shortchange yourself and settle for something less when you are job-hunting. If the job scope is not so interesting and needs hard work - ask for a higher pay - above 2.5K
if the job has potential - dont mind starting with lower pay but not below 2.4K

when interviewing, show your confidence to the employer, why he should hire you, and not go in with the mindset saying die lar, sure lose out to local grads...

Studies does not mean everything. if you are good at studies, does it mean you will be good at your job, having good EQ? Some smart people are very individualistic and don't work as a team. You need to show that yes, my results may not be fantastic, but what I have to offer is definitely more attractive than the mugger.

I agree that qualifications are not impt once you get the job as your KPIs and performance is what determines your career path.

Part time UOL students have an edge, as working experience is what really counts when it comes to hiring.

and yes, govt do have grading and pay systems, and if im not wrong, UOL degree is not on the same level as local uni degree. so venture out, go to private firms out there. don't go venturing into govt side if you don't like to be labelled and looked down upon.

this thread has quite a few opportunities:
Internships for students - www.hardwarezone.com.sg

I grad from UOL last year and had a starting salary of 2.6K in the banking and finance industry.

Jiayou in your job searches!

happy to share that I got a job after graduating from UOL with a starting pay of $2.9K.
No experience, fresh grad :)

Mind sharing what role/job function? Thx.

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....

It's subjective.

I got a job paying me 2.5k but i quit around Jan this year. Till now still jobless.
I graduated with first class honours in banking and finance.

Reality is harsh. It's not what you know but it's who you know that matters.

Thanks for sharing with us the flip side. Why did you quit without first securing another job?

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....

At that point of time, I was really desperate to leave so.....
Have to admit it's a bad move.

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....

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.

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?

Hi mind sharing your job function/scope?

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^^