Sgx

Originally Posted by Macroguy

My salary progression. 2nd Lower Honours, NTU Engineering

1998 Civil Service S$2791
1999 Civil Service S$2980
2000 Civil Service S$3300 -> Emplaced to 2nd Upper Honours Track due to good perf
2001 Civil Service S$4275 -> Promoted
2002 Quit Civil Service to trade stocks at home to create track record: Negative S$1000 on average
2003 Traded financial futures at home: +S$2500 per month on average
2004 Traded financial futures at home: +S$4000 per month on average
2005 Hired by local Hedge Fund as their proprietary trader S$3800pm + $20k performance bonus
2006 As in 2005: S$5600 pm + S$88k bonus
2007 Joined global asset management firm as balanced funds fund manager: S$10k per month + S$70k bonus
2008 Joined another global firm: S$15k per month + $50k bonus
2009 As above S$16k per month + bonus similar to above
2010 As above S$17k per month + same bonus --> promoted to SVP
2011 As above S$18k per month + same bonus
2012 - Planning to start my own hedge fund with my very modest capital. Hope to grow it.

Thankful for a supportive wife who has been bearing with me since 2002.

why did you give up trading at home?

Originally Posted by Macroguy

My salary progression. 2nd Lower Honours, NTU Engineering

1998 Civil Service S$2791
1999 Civil Service S$2980
2000 Civil Service S$3300 -> Emplaced to 2nd Upper Honours Track due to good perf
2001 Civil Service S$4275 -> Promoted
2002 Quit Civil Service to trade stocks at home to create track record: Negative S$1000 on average
2003 Traded financial futures at home: +S$2500 per month on average
2004 Traded financial futures at home: +S$4000 per month on average
2005 Hired by local Hedge Fund as their proprietary trader S$3800pm + $20k performance bonus
2006 As in 2005: S$5600 pm + S$88k bonus
2007 Joined global asset management firm as balanced funds fund manager: S$10k per month + S$70k bonus
2008 Joined another global firm: S$15k per month + $50k bonus
2009 As above S$16k per month + bonus similar to above
2010 As above S$17k per month + same bonus --> promoted to SVP
2011 As above S$18k per month + same bonus
2012 - Planning to start my own hedge fund with my very modest capital. Hope to grow it.

Thankful for a supportive wife who has been bearing with me since 2002.

How come a SVP in a global fund management company (frontline somemore) only $18k p.m. and $50k bonus? Pathetic $1k increment for promotion to SVP!?!?

You sure you know the rates or just randomly humtum based on hearsay. Even a local bank or some Tier2/3 foreign bank SVP also > $22k p.m. liao.

[Bean]

Originally Posted by Macroguy

My salary progression. 2nd Lower Honours, NTU Engineering

1998 Civil Service S$2791
1999 Civil Service S$2980
2000 Civil Service S$3300 -> Emplaced to 2nd Upper Honours Track due to good perf
2001 Civil Service S$4275 -> Promoted

for the year 2000, you stated 'Emplaced to 2nd Upper Honours Track due to good perf', what it actually mean? Now still got such scheme?

from year 1999 to 2000, your increment is $320, about 10.7%, that alot!!

i suppose you start your civil service at MX13 in 1998, only promote in 2001 to MX12??

from 2000 to 2001 you got promoted and your total increment (annual increment + promotion increment) is $975 or 29.5%, 29.5% is damn hell lot!!!

It is every promotion in civil service is that much? 29.5%

Numbers are all true.

Bonuses are similar, not exactly the same. Similar means in the range from S$50k to S$100k, meaning always around 6months bonus or less. Life is not always rosy in the banking sector. 2008, 2009 are the lean years for asset management firms in general with M&A activities, headcount freeze, cost cuts and so on. For example, the bonus for majority of UBS I-Bankers this year is the line "you get to keep your S$200k job".

Also, balanced funds managers are not considered the most sought after in this field. So, pay wise generally lags the star asset classes managers.

I work at a UK bank-linked firm, which has its fair share of troubles in the last few years. Its SVP band basically caters for folks with 12 years to 25 years experience.

As for why I quit trading stocks at home ---- I previously had not banking experience, so thought it is important to at least try life at that side. I could always quit and trade from home later.

As for the civil service questions ---- I was from a uniformed service. A local merit scholar that got a 2nd class lower honours degree unfortunately. However, due to good performance in the first two years, they decided to give me an "Emplacement" to place me on a Good Honours path. I believe emplacements are still in existence.

Wow, you are living my dream.

What made u decide to give up a comfortable and safe job in the government sector to do trading? How did u get past the initial tough year where u lost 1k per month on average? It must have been very demoralising then, how did u get to where u are today? Pls share.

Originally Posted by Unregistered

Wow, you are living my dream.

What made u decide to give up a comfortable and safe job in the government sector to do trading? How did u get past the initial tough year where u lost 1k per month on average? It must have been very demoralising then, how did u get to where u are today? Pls share.

Seriously, S$18+k per month + 6M bonus is nothing fantastic so I'm not about to tell my life story here and start preaching. I'm afraid you've got to wait till I do something way bigger to hear these from me.

Thank you for your interest.

Originally Posted by Macroguy

Seriously, S$18+k per month + 6M bonus is nothing fantastic so I'm not about to tell my life story here and start preaching. I'm afraid you've got to wait till I do something way bigger to hear these from me.

Thank you for your interest.

"nothing fantastic"... sigh.

Avp with a local bank, 29, $6k a mth, avg 3 mths bonus

Originally Posted by Unregistered

Avp with a local bank, 29, $6k a mth, avg 3 mths bonus

Which dept? diff dept diff range? or standard range for AVP?

Originally Posted by Unregistered

How come a SVP in a global fund management company (frontline somemore) only $18k p.m. and $50k bonus? Pathetic $1k increment for promotion to SVP!?!?

You sure you know the rates or just randomly humtum based on hearsay. Even a local bank or some Tier2/3 foreign bank SVP also > $22k p.m. liao.

Agreed, above post on global fund mgt co SVP 18 k pm is absolute nonsense, must be a wage suppression troll or a delusional person dreaming of a SVP position.