SIM-UOL fresh grad starting pay

Originally Posted by Unregistered

nobody comparing UOL to 75th-99th percentile of local U, but you are comparing top 10th percentile with 50th percentile of local U (which in the context is BB ops). see the difference?

No one is comparing. You are the one here who started drawing comparisons (which I assume is borne out of jealousy that a handful of sim-uol grads are earning more than the median biz student in local uni, despite studying 1-2 years lesser). Btw I think you meant the 90th percentile, as what the above poster have pointed out.

Pro Tips from a SIM Alumni:

OUT: Employers that deem SIM as a less valuable degree
A) Public Service
B) Local Banks
C) Pretty much any local company.
D) Big Asset Mgmt/ Hedge funds (they only hire 1-2 local grads. They very much prefer big US brand names for the connections)

IN: Employers with HR based overseas. They don’t differentiate SIM from NUS etc
A) Many foreign banks
B) Smaller Boutique Funds
C) Fintech Companies

The sad fact is that the biggest discriminator or degree value are our own people - because they know the system.

Originally Posted by Unregistered

Pro Tips from a SIM Alumni:

OUT: Employers that deem SIM as a less valuable degree
A) Public Service
B) Local Banks
C) Pretty much any local company.
D) Big Asset Mgmt/ Hedge funds (they only hire 1-2 local grads. They very much prefer big US brand names for the connections)

IN: Employers with HR based overseas. They don’t differentiate SIM from NUS etc
A) Many foreign banks
B) Smaller Boutique Funds
C) Fintech Companies

The sad fact is that the biggest discriminator or degree value are our own people - because they know the system.

Public Service? Why sia. This is very sad if we don’t support own people.

Originally Posted by Unregistered

IN: Employers with HR based overseas. They don’t differentiate SIM from NUS etc
A) Many foreign banks
B) Smaller Boutique Funds
C) Fintech Companies

The sad fact is that the biggest discriminator or degree value are our own people - because they know the system.

As you rightfully mention, even for the above entities A,B,C, it depends if the HR are based overseas. Many international banks or even fintech companies would rely on their local HR team to source of their local candidates (obviously) so they are not any different from the first group of employers you mentioned.

Graduated from sim uol in 2013 and started my career in the banking industry.

2013-2015 in US private bank :in ops headcount but a support function sitting with FO (main reason why I’m hired into my 2019 role) and was drawing 3k, pathetic increment to 3.1k even after 2.5yrs service
2015-2019: hopped to another US private banking. Pure ops role sitting in changi earning 3.8k-4.2k
2019: hopped to local private bank FO role, a very junior advisory role with no sales target..
Started 5.3k (total com ard 95k)and got adjusted to 7k recently.

I was lucky that my first hiring mgr was a private uni grad so no discrimination, 2nd hiring mgr was local uni grad but doesn’t believe that ops role needs a local degree. My current hiring mgr no longer look at my degree.

My advice is, find a role that gives u many learning opportunities and apply for a junior FO role but don’t be like me stayed in ops for 6yrs before I decided that’s enough. And I’m not suggesting being in FO is a definition of success. I know of people who go into banking ops and just getting by each day and I know people with strong leadership skill climb up the ops mgmt. it all boils down to your character and how determined you are.

Originally Posted by Unregistered

Graduated from sim uol in 2013 and started my career in the banking industry.

2013-2015 in US private bank :in ops headcount but a support function sitting with FO (main reason why I’m hired into my 2019 role) and was drawing 3k, pathetic increment to 3.1k even after 2.5yrs service
2015-2019: hopped to another US private banking. Pure ops role sitting in changi earning 3.8k-4.2k
2019: hopped to local private bank FO role, a very junior advisory role with no sales target..
Started 5.3k (total com ard 95k)and got adjusted to 7k recently.

I was lucky that my first hiring mgr was a private uni grad so no discrimination, 2nd hiring mgr was local uni grad but doesn’t believe that ops role needs a local degree. My current hiring mgr no longer look at my degree.

My advice is, find a role that gives u many learning opportunities and apply for a junior FO role but don’t be like me stayed in ops for 6yrs before I decided that’s enough. And I’m not suggesting being in FO is a definition of success. I know of people who go into banking ops and just getting by each day and I know people with strong leadership skill climb up the ops mgmt. it all boils down to your character and how determined you are.

What are you doing in the FO private bank role? Are you in a team servicing UHNW clients/a particular clientele or..? Curious as to what skills were deemed as relevant to your current Fo role (since you were in a supporting role in 2013-2015)

If you stayed and grinded in ops, 8 years prolly enough to make junior VP drawing >10k base with better WLB. Unless you really wish to earn 20k++ kind which you will probably reach if you keep grinding in FO.

Originally Posted by Unregistered

Public Service? Why sia. This is very sad if we don’t support own people.

Quite understandable. Public sector bo bian have to give priority to public/local universities ma. But I agree that they should relook at how they classify private uni in their job schemes. Some cmi, but some are actually ok (maybe can look at honours also)

Originally Posted by Unregistered

What are you doing in the FO private bank role? Are you in a team servicing UHNW clients/a particular clientele or..? Curious as to what skills were deemed as relevant to your current Fo role (since you were in a supporting role in 2013-2015)

If you stayed and grinded in ops, 8 years prolly enough to make junior VP drawing >10k base with better WLB. Unless you really wish to earn 20k++ kind which you will probably reach if you keep grinding in FO.

I’m in product advisory, we serve all Pb clients.

The reason why I didn’t stay in that ops role was becos promotion is only given to people with STRONG leadership skill. There’s a pool of 20+ ops analyst hoping to progress to 1-2 associate role a year, it was tough for me, in addition I’m a new mum then, the most I could Ot was till 7.30pm. Many of my ex team mates including me wasted our years there and got nothing in return, we have since moved on to better places with good opportunities.

Originally Posted by Unregistered

I’m in product advisory, we serve all Pb clients.

The reason why I didn’t stay in that ops role was becos promotion is only given to people with STRONG leadership skill. There’s a pool of 20+ ops analyst hoping to progress to 1-2 associate role a year, it was tough for me, in addition I’m a new mum then, the most I could Ot was till 7.30pm. Many of my ex team mates including me wasted our years there and got nothing in return, we have since moved on to better places with good opportunities.

Ah I see. Congrats! How did you make the jump (was it easy)? Would love to hear more!

Originally Posted by Unregistered

Ah I see. Congrats! How did you make the jump (was it easy)? Would love to hear more!

Hmm no connection, no referral. Maybe some keywords in my resume that landed myself in HR’s radar. I think not most people want to work my shift too, which requires me to start 1-2hrs early.. I have a friend from ops who joined the US shift for 2 years before switching to day job. The bank is willing to groom young people ( late 20s is still considered young to them), so it’s up to individual are they willing to bite the bullet for the first few yrs.