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17-07-2016, 01:53 PM
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Quote:
Originally Posted by Unregistered
Try to get a regional portfolio like ASEAN or Asia, not just Sg. I know some regional finance managers used to be from big4 making >20k with 10 years exp.
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I'm from the industry. These instances are very rare, but not impossible. These people would tend to have >15 years experience, and are high-performers (top 10%).
Note that it's not easy to be the top 10%, considering that your peers in the industry tend to be competitive too.
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17-07-2016, 11:04 PM
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Quote:
Originally Posted by Unregistered
I'm from the industry. These instances are very rare, but not impossible. These people would tend to have >15 years experience, and are high-performers (top 10%).
Note that it's not easy to be the top 10%, considering that your peers in the industry tend to be competitive too.
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To reach 20k in 15 years exp need to be better than average, but dun really need top 10% lah. Most of the top 10% in finance would all be in high finance/banking/investment jobs paying much more than that.
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18-07-2016, 08:55 PM
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Quote:
Originally Posted by simiishthis
For those who jumped from big 4 to other industries, at which level did you jump and was it worth it? How about the pay increment?
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I left after 1 year and never looked back. Ridiculous culture and bosses. You are treated as a revenue generator.
Currently earning director-level pay in half the time it would have taken if I had stayed on. My company also hires my ex-big 4 company to do work and sometimes I take joy in scolding my former boss when my former colleagues screw up on the work. That's what he gets when he doesn't invest in training his staff. My ex-colleague stayed on and became manager yet she can't even get her basics right.
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19-07-2016, 10:14 PM
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Quote:
Originally Posted by Unregistered
To reach 20k in 15 years exp need to be better than average, but dun really need top 10% lah. Most of the top 10% in finance would all be in high finance/banking/investment jobs paying much more than that.
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20k salary is just a regional finance manager level in big mnc, you dont need 15 years exp. most are just mid to late 30s meaning 10-15 years exp is enough
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20-07-2016, 08:19 AM
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Quote:
Originally Posted by Unregistered
20k salary is just a regional finance manager level in big mnc, you dont need 15 years exp. most are just mid to late 30s meaning 10-15 years exp is enough
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Is that Basic, or is that the full package? 20k for a regional finance manager sounds very much on the high side.
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20-07-2016, 10:31 AM
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Quote:
Originally Posted by Unregistered
Is that Basic, or is that the full package? 20k for a regional finance manager sounds very much on the high side.
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Clearly on the high side for basic. Annual package is probably closer to 200k+ inclusive of bonus. Regional finance manager isn't that big shot, there is still CFO sitting on top of you.
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20-07-2016, 11:59 AM
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Quote:
Originally Posted by Unregistered
Clearly on the high side for basic. Annual package is probably closer to 200k+ inclusive of bonus. Regional finance manager isn't that big shot, there is still CFO sitting on top of you.
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In sizable MNCs, Group CFO would be $2mil+ total package, Regional CFO tend to go 600k-1.5mil. Regional Finance Managers will probably be 300-600k total package, so 20k monthly basic sounds within range on the low side.
Problem is now with title inflation everywhere, it's hard to tell who is a real regional manager who is just fancy job title. I know of many small finance department heads of Singapore subsidiary making paltry amounts and shamelessly call themselves "CFO".
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20-07-2016, 08:59 PM
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Quote:
Originally Posted by Unregistered
In sizable MNCs, Group CFO would be $2mil+ total package, Regional CFO tend to go 600k-1.5mil. Regional Finance Managers will probably be 300-600k total package, so 20k monthly basic sounds within range on the low side.
Problem is now with title inflation everywhere, it's hard to tell who is a real regional manager who is just fancy job title. I know of many small finance department heads of Singapore subsidiary making paltry amounts and shamelessly call themselves "CFO".
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Scenario for a typical Large MNC in Singapore, in the Finance Division.
Total = 50 Pax
Role = Number of Personnel (Full-Year All-in-Package, i.e. including bonus & AWS)
Regional CFO = 1 (600k - 1.5m)
Finance Vice-President = 2 (300k - 600k)
Finance Directors = 4 (180k - 300K)
Finance Managers = 8 (85k - 180k)
Finance Analysts = 35 (45k - 85k)
Am I right on the above? This is my rough estimation, based on my observation
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20-07-2016, 11:15 PM
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Quote:
Originally Posted by Unregistered
Scenario for a typical Large MNC in Singapore, in the Finance Division.
Total = 50 Pax
Role = Number of Personnel (Full-Year All-in-Package, i.e. including bonus & AWS)
Regional CFO = 1 (600k - 1.5m)
Finance Vice-President = 2 (300k - 600k)
Finance Directors = 4 (180k - 300K)
Finance Managers = 8 (85k - 180k)
Finance Analysts = 35 (45k - 85k)
Am I right on the above? This is my rough estimation, based on my observation
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I don't think there's so many layers below a regional CFO unless its very bureaucratic culture or banks where VPs/Directors anyhow give.
For e.g. in my company, global mnc in pharma industry, the Asia Finance team look like this:
Director, Finance for Asia (this is the regional finance head) = >$1mil
Regional Financial Manager/Controller/Adviser (the regional specialists/subheads x3) = $300-600k
Local Finance Manger/SM/Director (title depend on how big the country, mainly local department heads x11) = $200-300k
Many Analyst/Accountant/Manager/Specialist etc. (i.e. all the rojak local execs x50++) = below $200k
In addition, there is also the group financial strategy department which has a team in Asia. Few of the senior ones are 500k-$1mil type usually more projects, M&A, strategy or tax specialization and they are supported by some local rojaks also.
But a lot depend on whether the company anyhow inflate title. For e.g. some companies can just anyhow throw director/vp/svp/sm title to all sorts of people, I like to look at hierarchy instead of job title.
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