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Business vs Engineering Degree

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  #21 (permalink)  
Old 16-11-2011, 12:01 PM
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Originally Posted by Wiseman1 View Post
I cannot understand why the discussion is always around IB and the fat salaries blah blah blah, if you take into account the ridiculous long working hours, the pay does not seem so fantastic anymore....
The Finance/Banking/Accountacy field is more than just IB....the following roles pay almost as well but with much better work-life balance:

(1) Banking risk management
(2) Banking compliance
(3) Product Controllers
(4) Priority Banking/Private Banking
(5) Finance Business Partners in big names IT firms
(6) Equity sales
(7) Fixed Income trading
I can understand people taking lower paying jobs for better hours, but the jobs listed above are nowhere near that of IB. Most of them maximum earnings after many years still have problems matching a fresh grad IB.

(1) Banking risk management – Back office, max 180k inc bonus
(2) Banking compliance – Back office, max 150k inc bonus
(3) Product Controllers – Not sure, no comment
(4) Priority Banking/Private Banking – Private Banking possible to match IB, but Priority Banking very unlikely
(5) Finance Business Partners in big names IT firms – Fancy name for Finance Manager / Controller, possible to hit 200k after many years, but bonus potential nowhere near IB
(6) Equity sales – Hard to tell, almost 80-100% commission based
(7) Fixed Income trading – Possible to match IB, but I dun think working hours are shorter than IB

Out of the 7 jobs listed, 6 are still banking related jobs. There really are more Finance/Banking/Accountacy jobs out there than banks. Really.

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  #22 (permalink)  
Old 16-11-2011, 12:20 PM
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Was nodding my head untill you started posting on the roles that "pay almost as well" as IB.

You don't know what you are talking about. .


Quote:
Originally Posted by Wiseman1 View Post
I cannot understand why the discussion is always around IB and the fat salaries blah blah blah, if you take into account the ridiculous long working hours, the pay does not seem so fantastic anymore....
The Finance/Banking/Accountacy field is more than just IB....the following roles pay almost as well but with much better work-life balance:

(1) Banking risk management
(2) Banking compliance
(3) Product Controllers
(4) Priority Banking/Private Banking
(5) Finance Business Partners in big names IT firms
(6) Equity sales
(7) Fixed Income trading


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  #23 (permalink)  
Old 16-11-2011, 12:33 PM
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Quote:
Originally Posted by Wiseman1 View Post
I cannot understand why the discussion is always around IB and the fat salaries blah blah blah, if you take into account the ridiculous long working hours, the pay does not seem so fantastic anymore....
The Finance/Banking/Accountacy field is more than just IB....the following roles pay almost as well but with much better work-life balance:

(1) Banking risk management
(2) Banking compliance
(3) Product Controllers
(4) Priority Banking/Private Banking
(5) Finance Business Partners in big names IT firms
(6) Equity sales
(7) Fixed Income trading
In fact 6 and 7 can actually earn considerably more than ib. Darn hard to get into as well. Possibly harder than ib as there are simply less of these positions out there.

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  #24 (permalink)  
Old 16-11-2011, 12:36 PM
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SMU. without question bro.

One of the posters is right about them grooming you to work in high-powered companies like MNCs or Banks. Even if you're average SMU student, the brand is so effective with companies right now that the sight of a SMU student applying for any job will make the HR wet with excitement.

NUS engineerinig you're just going to be churned out like the rest and then compete with foreign engineers who may be smarter and cheaper than you are.
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  #25 (permalink)  
Old 16-11-2011, 01:16 PM
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Originally Posted by poorman View Post
SMU. without question bro.

One of the posters is right about them grooming you to work in high-powered companies like MNCs or Banks. Even if you're average SMU student, the brand is so effective with companies right now that the sight of a SMU student applying for any job will make the HR wet with excitement.

NUS engineerinig you're just going to be churned out like the rest and then compete with foreign engineers who may be smarter and cheaper than you are.
Agree. Quit engineering.
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  #26 (permalink)  
Old 16-11-2011, 01:56 PM
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Don't do engineering.. you will get owned by the FT (Indians, China, Viets)

In B&F, at least you have a fighting chance at first class honors

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Agree. Quit engineering.
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  #27 (permalink)  
Old 16-11-2011, 01:59 PM
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I am from equities. The average earner in IB still earns more. To many, IB is one of the simplest and most assured paths towards getting a decent income. The rest are very peformance dependent

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In fact 6 and 7 can actually earn considerably more than ib. Darn hard to get into as well. Possibly harder than ib as there are simply less of these positions out there.
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  #28 (permalink)  
Old 16-11-2011, 04:04 PM
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Originally Posted by poorman View Post
Even if you're average SMU student, the brand is so effective with companies right now that the sight of a SMU student applying for any job will make the HR wet with excitement.
Wow. So the SMU marketing team hangs out here in salary.sg forum too?
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  #29 (permalink)  
Old 16-11-2011, 05:04 PM
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Wow. So the SMU marketing team hangs out here in salary.sg forum too?
it shows they are serious in their business. NTU staff are busy figuring out how to use the browser.
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  #30 (permalink)  
Old 17-11-2011, 11:36 AM
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it shows they are serious in their business. NTU staff are busy figuring out how to use the browser.
OMG! hahahaha


I'm also engineer aspiring to shift to Banking, but I'm scared of the layoffs which are more frequent in banking
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