SIM-UOL fresh grad starting pay

Originally Posted by Unregistered

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.

Dude, no one discriminate your degree. It is. What it is. Would you consider it discrimination when you can't get into a role meant for Oxbridge? If it is not, then you shouldn't see it discrimination when you are not offered a role specifically looking for local grads.

Having said that, there are obviously many employers that will evaluate candidates holistically. If you think you are at a disadvantage in ur degree, impress them in other areas.

Originally Posted by Unregistered

Big4 corporate advisory is not known for paying well...

Then isn't it disingenuous to compare what he is doing to IB CF? You can read the full quote below but basically it seems from the way he typed that he managed to get into a CF role (no mention where it was) and hence people would be able to similarly get into IB CF with a UOL degree. Only in the much later second post did he mention that he is neither in IB nor fortune 500. No offence but comparing an experience landing <40k p.a. role to an almost 100k p.a. role is almost tantamount to misleading everyone here.

Originally Posted by Unregistered

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.

Even i'm earning more than him. LOL... with Bonus i can hit 51K.

Originally Posted by Unregistered

Then isn't it disingenuous to compare what he is doing to IB CF? You can read the full quote below but basically it seems from the way he typed that he managed to get into a CF role (no mention where it was) and hence people would be able to similarly get into IB CF with a UOL degree. Only in the much later second post did he mention that he is neither in IB nor fortune 500. No offence but comparing an experience landing <40k p.a. role to an almost 100k p.a. role is almost tantamount to misleading everyone here.

Sorry if I seem to have misled you. Guess I will clarify. First, I have slightly less than 1 year working experience so far, finished my final paper last year. Second, neither did I claimed that I was in IB nor earning 100k pa. I just mentioned at the end that I was doing CF. I know of 2 UOL grad working in BB, they got in mainly through good networking and good results. If you want further clarification, those 2 UOL grad working in BB are not in sg, and I had never asked them about their pay. Not all IB/CF analysts are paid equally. If every single time someone talk about IB/CF and you just judge it solely based on pay, then of course it doesn't stack up. Additionally, if the first thing that comes to your mind whenever people talk about IB or CF is 100k pa salary, you are pretty misinformed about the industry. In the space of secondary advisory, the leading ib (a boutique ib) doesn't even pay $80k pa for analyst.

For CF, there are corporate, PE, boutique, mid market and bulge bracket. Even for boutique, you have elite boutique (Evercore, Moelis) and just plain boutique (Primepartners, SAC). 100k pa salary for analyst --> only BB, top tier PE and some foreign mid market. No other local CF houses (including the 3 local banks) pay their IB/CF analyst so well. But guess what? We analyst, no matter from where, do almost the same thing, just on different scale. By deal volume, there are 3 of the Big4 sits on the top 10 M&A global league table.

For people who felt misled, I'm really sorry. I didn't mean it.

Originally Posted by Unregistered

Even i'm earning more than him. LOL... with Bonus i can hit 51K.

Lol! I guess so. Good for you! Makes me feel so stupid.

Those that say 3k+ is bullcrap.... It's not bull cause I have many OG group frenz starting 3k+ in ops. Some perm staff in local banks. Some in FIs like Credit Suisse and JPM. It's bout results, luck, network . We grad in '13

Originally Posted by Unregistered

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.

If you are that depressed and hopeless, maybe you should go out and work harder instead of whining and wallowing in self pity.

Grow up dude. Graduating with a 2nd lower/upper in UOL is not hard.

it doesn't really matter where u're from. it's where u end up.

there're heaps of grads from local unis who are now in jail. there's also heaps of grads from SIM/aust unis in top-tier organisations within their industries.

your university is a factor in determining the difficulty and time needed to land a respectable role after graduation. but after that, it's heavily dependent on your EQ, visibility and general intelligence.

the negativity, discontent and jealousy present in this thread is astounding. just goes to show how little grace the singapore society has at the moment.

everyone needs to take a step back, take a deep breath and grow the f up.

yeah bros. undergraduates whether in local or pte unis, have to understand that, once you are out here, no one gives a **** about your certificates, your testimonials, or what have you. No one.

hi,

i'm contributing my personal info and earnings as well, for the benefit of undergraduates in sim.

3rd class honors repeated 2 modules in year 2.
graduated 2013
now in JP morgan IB trainee after 15 rounds interview and tests.

Yearly 62K no bonus as trainee.