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SIM-UOL fresh grad starting pay

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  #631 (permalink)  
Old 21-05-2014, 10:55 AM
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SIM banter, so full of it.
You really think SIM should value themselves on par with local grads?
That's just a shameless desperate attempt to claw their way back to a society they wished they belong.
i am a UOL grad and working for the past 8 years. where you grad from only matters at the beginning of your career.

there comes a point when your alma matter does not matter anymore but depends on your track record and how you do at your interview.

case in point, i can say that i am at a higher rank and pay than some of my NUS/NTU colleagues who are 2-3 years my senior. but having said that i am also earning less than some other peers who are in civil service or banking.

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  #632 (permalink)  
Old 21-05-2014, 11:22 AM
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I'm the one who posted the bullcrap response. I grad from uol with 2nd upper in bnf. My start was 3 with annual hitting 45k minimum (1 month aws + 2 months guaranteed). I said bullcrap because previously i was in local bank for a mere 2 months, so i know the market rate. But it is still possible to get starting pay of 3k outside local banks. Now uob ocbc dbs are all hiring for contract positions only. needless to say, i'm not in a local bank. while we are here fighting for a high starting salary, there are local uni grads in bulge bracket IBs Back office earning as high as 70K per annum excluding bonuses. we are just pathetic.........................
Are you really that naive to believe that they are paying close to 6k to fresh grad to do ops work or do you guys really like to lie through your teeth to degrade others. Either way I find this truly the definition of pathetic.

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  #633 (permalink)  
Old 21-05-2014, 11:31 AM
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Are you really that naive to believe that they are paying close to 6k to fresh grad to do ops work or do you guys really like to lie through your teeth to degrade others. Either way I find this truly the definition of pathetic.
You obviously, are not anywhere near the industry. Bulge bracket IBs pay fch graduates to perform Ops, just like GIC. Bonus is another matter. If you feel degrade by my earlier post, shows exactly where you stand in the society. lol, you deserve it.

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  #634 (permalink)  
Old 21-05-2014, 11:52 AM
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You obviously, are not anywhere near the industry. Bulge bracket IBs pay fch graduates to perform Ops, just like GIC. Bonus is another matter. If you feel degrade by my earlier post, shows exactly where you stand in the society. lol, you deserve it.
Let's put your numbers into some perspective. Local bank hire MA at around 4-4.5k. Overseas banks and IB hires MA in the range of 4.5-5k. Management consultant from MBB gets around 5.8k+++. A TL in a typical ops role draw between 5k-7k. So basically you are telling me that there is a miraculous ops role for fresh grads that out pays MAs and is comparable to IB FO and consultants from MBB and even a typical TL in ops. I would love to hear more about what is the job scope of such an ops role and why a fresh grad preferred over experienced hire
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  #635 (permalink)  
Old 21-05-2014, 12:38 PM
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Let's put your numbers into some perspective. Local bank hire MA at around 4-4.5k. Overseas banks and IB hires MA in the range of 4.5-5k. Management consultant from MBB gets around 5.8k+++. A TL in a typical ops role draw between 5k-7k. So basically you are telling me that there is a miraculous ops role for fresh grads that out pays MAs and is comparable to IB FO and consultants from MBB and even a typical TL in ops. I would love to hear more about what is the job scope of such an ops role and why a fresh grad preferred over experienced hire
Im sorry to disappoint you:

"Among the Class of 2013, the double degree cohort in Accountancy and Business from Nanyang Business School has done well again this year, with almost 9 in 10 securing employment before graduation, and the top 10 per cent drawing an average salary of $8,254."

://news.asiaone.com/news/edvantage/7-10-ntu-students-secured-jobs-ahead-graduation

So yes, the top 10 percent, NTU FCH, can get up to and even more thank 8k/month. FRESH GRAD. Just because you don't earn that much, doesn't mean other people can't.

Of course, there is also the average salaries:
://.moe.gov.sg/education/post-secondary/files/ges-ntu.pdf
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  #636 (permalink)  
Old 21-05-2014, 02:30 PM
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Im sorry to disappoint you:

"Among the Class of 2013, the double degree cohort in Accountancy and Business from Nanyang Business School has done well again this year, with almost 9 in 10 securing employment before graduation, and the top 10 per cent drawing an average salary of $8,254."

://news.asiaone.com/news/edvantage/7-10-ntu-students-secured-jobs-ahead-graduation

So yes, the top 10 percent, NTU FCH, can get up to and even more thank 8k/month. FRESH GRAD. Just because you don't earn that much, doesn't mean other people can't.

Of course, there is also the average salaries:
://.moe.gov.sg/education/post-secondary/files/ges-ntu.pdf
I have no idea if you are being deliberately being obtuse but your link does nothing to support your point. I have never contested that fresh grad can't earn >7k, however I am sure none of those high paying job is in the back office. In fact no one with a fch or SMU sml will willing choose to go into back office if they are capable. No matter it is a back office role in a local bank or a international IB. The fact that you can't differentiate between BO from FO makes me wonder how close you truly are to this industry.
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  #637 (permalink)  
Old 24-05-2014, 10:26 PM
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You actually believed the story above? If so that poster really has good story telling amd journalistic abilities. Guess the poster is thinking of ways to draft an interesting story to make ot seems like an underdog story that everybody loves. UOL grads doing cf and ib is more difficult than striking toto. The chances of you striking the lottery is higher. Unless he is doing customer service or sales in corporate finance roles. Then that is believeable, dont fall for optimistic or post that gives false hope to aspiring bankers. That would never happen to an average person.

Instead, focus on a realistic option to work towards instead of dreaming being the next "wolf of wall street".
Hi, I was the poster from above. Haven't check back in months. Just wanna check, how do you define customer service or sales in CF? Everyone does a bit of everything. You mean like either like P.A. picking up calls for their bosses or SVP - Director level personnel doing pitching/sales? I was just an analyst - doing all the grunt work like identify targets, deal memos, build valuation model, do presentations, blah blah.. Mostly origination and execution stuff..

I hope I didn't give people false hope with what I wrote. The industry is certainly elitist and hyper competitive. I had certainly seen my fair share of interviewers from big name schools and local unis insulting my intelligence during some interviews - the more junior they are, the more condescending they are. I had lots of down moments too. But I'm definitely not dreaming. Just pointing out to people the possible doors to explore and work towards if they want to do CF.

It's good to be skeptical, but your worldview is not a determinant of how people should live. Ask anyone in the industry for advice, and I don't think theirs will differ too much from mine. While I'll concur with you that getting into a CF and IB FO for SIM-UOL carries roughly the same odds as striking toto, and it will be that case if you just sit on your ass and do nothing about it to get into the industry. If you are sincere about your goals, works towards them and bring the odds in your favor.

You can think whatever you want, I've got nothing to lose. I'm just sharing my thoughts and genuinely want to see my peers in SIM-UOL do well.

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how much u make per annum doing cf?

in fortune500 coy or iB? share your story pls
My company is a listed co in the resource sector, but it is neither a fortune 500 nor an ib. I'm not earning that much. Just to give you an idea, I had recently took up a corporate advisory offer in a big audit firm as a 1st year associate; My salary is less than 40k per annum, w/o bonus. From what I just caught up so far on this thread, there are definitely plenty of 2013 SIM-UOL grad (my batch-mates) here earning way more than me.

No story man... I just got very lucky, I worked hard, and I met good people. Networking is very important. Most roles in the industry aren't even advertised on job portals. Many roles are created as and when they find suitable candidates internally or through recommendation.

Actually, I do not really think many of the stuff shared here are too far-fetched from what I had gathered so far with some people I know. Of course, those are a rarity, that's why they post here: Survivalship bias. I will admit this, if I felt that I am not in a good place now, I wouldn't post here.
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  #638 (permalink)  
Old 25-05-2014, 02:50 AM
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Hi I'm a third year UOL undergraduate. I just completed my exams and am currently looking for a job. I understand and accept the fact that employers would discriminate my degree.To make matters worse, I predict that I will only get a pass or a third class honours. I just hope I get lucky enough to land a job related to my degree. But reading all the comments on this forums makes me feel a bit depress and hopeless.
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  #639 (permalink)  
Old 25-05-2014, 03:42 PM
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My company is a listed co in the resource sector, but it is neither a fortune 500 nor an ib. I'm not earning that much. Just to give you an idea, I had recently took up a corporate advisory offer in a big audit firm as a 1st year associate; My salary is less than 40k per annum, w/o bonus. From what I just caught up so far on this thread, there are definitely plenty of 2013 SIM-UOL grad (my batch-mates) here earning way more than me.
Is there a typo in the number there? you have been in CF for at least two years right? and you're drawing less than 40k PA?
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  #640 (permalink)  
Old 25-05-2014, 03:52 PM
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Is there a typo in the number there? you have been in CF for at least two years right? and you're drawing less than 40k PA?
Big4 corporate advisory is not known for paying well...
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