SIM-UOL fresh grad starting pay - Page 61 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




SIM-UOL fresh grad starting pay

Reply
 
Thread Tools
  #601 (permalink)  
Old 02-02-2014, 03:38 PM
Unregistered
Guest
 
Posts: n/a
Default

For people who wanna get into Investment Banking and do Corporate Finance/Advisory from UOL and think it's hopeless. It's not hopeless, h*ck... if you know what you are doing, am proactive and patient, even third class honors don't matter. Most important things are network and luck. Academic pedigree, since already lacking, you cannot aim this angle. Trust me, some IBs in sg have Harvard MBA applying for analyst role. Meaning.. you cannot expect to send your application with nothing outstanding (just FCH don't cut it) to show, knows no one inside and expects an interview. Even if you have 2-3 years job experience, if not in CF, utterly useless - unless you damn veteran in a niche technical industry like Metals and Mining. Some IB practice generalist approach, most are split into industry, especially if you are in deal origination. I've seen alot of IB directors in a certain industry possess non-finance background. They are there cause they have technical knowledge and know enough people in the industry.

So even if you have third class honors, there's 3 ways..

First, you come from a rich family, someone in your family happens to be a client of an IB, etc.. This is the easiest and most sure-fire way. Too many white horses running around man... So if you fall into this category, Check around, ask around. I dunno how this works in a rich family, I come from a very poor family.

Second, You damn ninja at networking. Figure this out yourself, not easy. Be a great person, be daring and talk to industry people. For IB/CF, the network in Singapore is smaller than you think.

Third, You are very lucky, work in a role where you can access and network to people in the relevant industry who can help you. But of course, for this to work, your work performance have to be superb and you have to be likeable.

IB doesn't really need brilliant people, they just need 3-4 extra brilliant individual at the top doing deals, talk big picture and structure and then have the rest do grunt work. Due to supply and demand, well, they can cherry pick all brilliant people for junior role and drop most along the way in an attempt to get the survivor. So if you are not brilliant, be tenacious.

Of course, saying all these, you are fighting for a limited number of position in a hyper competitive industry. Even if it's not hopeless, you can try very very hard, and still don't get in. But seriously... this isn't the only job that can make you rich if that's what you want.

I wish you all luck.

P.S. That being said, personally I don't know anyone who got lousy grades and become a high flyer in CF. So if you do get in, please do something to improve your academic profile, you are supposed to be tenacious anyway. For people who are curious, yes, I was from UOL (Upper second) and currently doing CF.

Reply With Quote
  #602 (permalink)  
Old 02-02-2014, 04:41 PM
Unregistered
Guest
 
Posts: n/a
Default

how much u make per annum doing cf?

in fortune500 coy or iB? share your story pls

Reply With Quote
  #603 (permalink)  
Old 05-02-2014, 11:51 AM
Unregistered
Guest
 
Posts: n/a
Post Compliance role in a bank

Hi, just wondering anyone here has experience working in a compliance role in a bank. Just exploring my career options and I'm wondering if this could be a possible career route.

I've heard of aml, kyc etc etc but just wondering on a daily basis is it a very repeititive work, what are the prospects and working hours like? ( must work on weekends??) is it also very stressful to the point u have no life outside of work?

Thanks in advance

Reply With Quote
  #604 (permalink)  
Old 06-02-2014, 03:05 PM
Unregistered
Guest
 
Posts: n/a
Default

Graduated from SIM-UOL in 2011 with second upper honours in Economics & Management. Considered entering a bank as a analyst with my economics major but decided not to since I'd be in direct competition with many Banking & Finance majors.

Entered a German IT MNC shortly for 2.5K and worked for 2 years, with constant pay raises to 2.7K. Working conditions were good for me. Entered operations line (with relevance to procurement).
Reply With Quote
  #605 (permalink)  
Old 22-02-2014, 07:44 PM
Unregistered
Guest
 
Posts: n/a
Wink

Sim uol grad here Anf- fch, offered the following:

Bank of tokyo (6mth contract) -2650
Nexia- audit associate -2500
Singapore power - 3000
Protiviti -2800
3 mth Trade finance executive internship - 1400

Still awaiting a reply from one stat board.


Have about 2 years auditing experience
Reply With Quote
  #606 (permalink)  
Old 02-03-2014, 03:26 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
how much u make per annum doing cf?

in fortune500 coy or iB? share your story pls
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".
Reply With Quote

  #607 (permalink)  
Old 02-03-2014, 08:38 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hi, just wondering anyone here has experience working in a compliance role in a bank. Just exploring my career options and I'm wondering if this could be a possible career route.

I've heard of aml, kyc etc etc but just wondering on a daily basis is it a very repeititive work, what are the prospects and working hours like? ( must work on weekends??) is it also very stressful to the point u have no life outside of work?

Thanks in advance
Hi !

Graduated last yr May and gotten a compliance role with a european bank specializing in the area of aml risk n controls.

At entry levels, AML/kyc roles r paid lower than their middle/front office counterparts. You don't really have to work late / OT over the wkends becoz workloads r generally manageable. But of coz there r days u have to come back during wkends for UAT testing, etc. And , u will have plenty of "life" outside. It all comes down to how u manage your work. Every tasks that you're given with r tagged with a deadline. U screw it up, u stay back n finish it. Some banks separate AML/KYC with compliance coz at low lvls things r generally quite mundane. But as u progresses up, to somebody that provides advisory, yr pay increases exponentially. At AVP level, you can expect around 5-7k basic depending on which part of the bank u serve. From what i know, private banking pays much more to their AML executives... As you clock the hours, you might wanna explore different other compliance functions. There r specific areas within compliance that pays very well Unfortunately, they dont just accept any fresh grad with no prior exp in regulatory roles, you gotta work your way up there. There r also professional certs (subsidized by MAS) which banks favor it a lot.

P.S: graduated with FCH and drawing just abit below mid 3s.
Reply With Quote
  #608 (permalink)  
Old 03-03-2014, 09:30 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hi !

Graduated last yr May and gotten a compliance role with a european bank specializing in the area of aml risk n controls.

At entry levels, AML/kyc roles r paid lower than their middle/front office counterparts. You don't really have to work late / OT over the wkends becoz workloads r generally manageable. But of coz there r days u have to come back during wkends for UAT testing, etc. And , u will have plenty of "life" outside. It all comes down to how u manage your work. Every tasks that you're given with r tagged with a deadline. U screw it up, u stay back n finish it. Some banks separate AML/KYC with compliance coz at low lvls things r generally quite mundane. But as u progresses up, to somebody that provides advisory, yr pay increases exponentially. At AVP level, you can expect around 5-7k basic depending on which part of the bank u serve. From what i know, private banking pays much more to their AML executives... As you clock the hours, you might wanna explore different other compliance functions. There r specific areas within compliance that pays very well Unfortunately, they dont just accept any fresh grad with no prior exp in regulatory roles, you gotta work your way up there. There r also professional certs (subsidized by MAS) which banks favor it a lot.

P.S: graduated with FCH and drawing just abit below mid 3s.


Thanks! Really appreciate your reply. So in terms of work life balance it seems pretty decent cause I was previously doing external auditing and there was definitely no work life balance. Is what u mentioned true for those in senior positions as well (vp) in terms of work load? Also just curious how did u manage to secure your current role? Did u have prior compliance experience? I have tried applying for compliance positions, even contract ones and the ones that are only looking for dip holders or paying low. However,
I have not had any response, probably due to my lack of experience. In that case, how can I ever get the chance to work in a compliance function? Thanks in advance!
Reply With Quote
  #609 (permalink)  
Old 03-03-2014, 11:17 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Thanks! Really appreciate your reply. So in terms of work life balance it seems pretty decent cause I was previously doing external auditing and there was definitely no work life balance. Is what u mentioned true for those in senior positions as well (vp) in terms of work load? Also just curious how did u manage to secure your current role? Did u have prior compliance experience? I have tried applying for compliance positions, even contract ones and the ones that are only looking for dip holders or paying low. However,
I have not had any response, probably due to my lack of experience. In that case, how can I ever get the chance to work in a compliance function? Thanks in advance!
At senior level things r rather more stressful coz not only u have to carry out your daily BAU , most of the time they have projects to manage. U carry much greater responsibilities but your pay correlates with it .. but not to the extent of coming into office at 7am and leaving at 10pm everyday lah.

I had a short stint in aml compliance with a foreign bank as a contract staff before i graduated.. learned the core concepts of aml compliance n some of the basic operational procedures n decided that this is the route i wanna take.. went n interviewed with another foreign bank after finishing my exam.. instead of askin what i studied, the interview focused mainly on what i did last time during my contractual days... there r other 3 new joiners that joined with me.. all of them have at least 2-3yrs of workin exp with me the only 1 thats a freshie

im quite lucky i guess.. my managers liked me n r giving me ample learning space to familiarize the full scope of aml compliance.. (basically "sai kang" warrior that knows everything).. but i intend to move this yr.. afterall at the end of the day we work for $.

Like i mentioned earlier, the requirements for aml/kyc r rather lax.. as long u unstd english n equipped with common sense u would qualify for it. I hav to caution u first.. they r many ppl comin in n joinin this line now.. to the point banks have a large pool of candidates to choose from , hence pay packages will be diluted.. u gotta set yourself distinct from others. How to do so? I leave it for u to find it out on your own... good luck
Reply With Quote
  #610 (permalink)  
Old 07-03-2014, 09:12 PM
Unregistered
Guest
 
Posts: n/a
Default Uol

Hi, I'm set to graduate this year with at least a second lower class, BnF. I've been following this thread and I must say, I'm not exactly surprised that UOL degree holders command lesser pay. But I would like to ask, what can i expect if I want a job in a bank?

I know of local uni students earning roughly around $2k plus too, so I guess we are not alone. I think it depends on the opportunities presented to us.
Reply With Quote
Reply

Bookmarks

Tags
sim, starting pay, uol

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Starting pay for fresh grad? k3vin Income and Jobs 75 26-09-2022 04:14 PM
Starting pay for fresh uni grad with partial acca geeokleiv Income and Jobs 131 27-01-2021 10:41 PM
Fresh Grad with Masters starting salary in banking Novice Income and Jobs 18 09-02-2016 08:57 PM
Fresh Engineering Grad want to switch to Banking rampa001 Income and Jobs 53 17-09-2011 10:42 AM
Fresh Grad working as software engineer earning 10k/month megasoma Income and Jobs 7 28-07-2011 10:23 AM

» 30 Recent Threads
Shopee fresh grad pay ( 1 2 3... Last Page)
1,051 Replies, 440,926 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,386 Replies, 2,325,312 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
172 Replies, 309,782 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
681 Replies, 389,180 Views
Compare civil service salary ( 1 2 3... Last Page)
16,346 Replies, 12,459,262 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,807 Replies, 1,045,803 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,325 Replies, 4,985,865 Views
Career as Teacher ( 1 2 3... Last Page)
10,857 Replies, 6,673,640 Views
GovTech ( 1 2 3... Last Page)
5,164 Replies, 2,165,387 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,459 Replies, 785,108 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,331 Replies, 1,142,768 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
311 Replies, 369,608 Views
Why Is Having a Google Virtual...
1 Replies, 6,803 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,240 Replies, 3,400,303 Views
JP Morgan ( 1 2 3... Last Page)
199 Replies, 173,556 Views
Mining Industry ( 1 2 3... Last Page)
80 Replies, 74,562 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,340 Replies, 4,773,609 Views
Lawyer Salary ( 1 2 3... Last Page)
21,015 Replies, 10,332,281 Views
ST Electronics ( 1 2 3... Last Page)
3,768 Replies, 1,545,674 Views
Is getting a PMP worth it ?
4 Replies, 7,183 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,763 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,903,796 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,449 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,657,978 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 814,094 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,860 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 359,004 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,990 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 614,019 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,739,824 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:58 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2