SIM-UOL fresh grad starting pay

Originally Posted by jonny

Dude are you nuts? You studied B&F and instead of going for frontline jobs that pay >$7.5k or at least backend >$4.5k you choose to go for some pathetic $2k job just because your parents pester you to grab the first job that come along?

Like that why bother to waste your time with a bank? Might as well go to public service or nomal executive job, can at least get $3k

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

Originally Posted by Unregistered

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.

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?

Originally Posted by Unregistered

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.

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 ??

Originally Posted by Unregistered

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.

Originally Posted by Unregistered

Hi all, I'm a B&F fresh grad w/o relevant exp, and recently just went for an interview at a bank. However, that position is actually more of a diploma rank, so when they asked me for my expected salary, I quoted $2k. Do you all think that's reasonable? I mean I guess I have to lower my expectations since I don't have relevant exp and am facing some pressure from my family to get my first job asap, so I thought this would be a good start. Only thing I'm worried about is that should I switch job in future, the low starting pay might affect my future pay in terms of negotiation?

Okay actually they haven't officially offered me the position, but I believe they are considering. What if they think $2k is still too high for a diploma role, and offer me $1.6-$1.8k instead? Should I just take it up as well? Hope to receive some advice, thanks.

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.

Originally Posted by Unregistered

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 ??

[Manamuchacha]

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.