Business vs Engineering Degree - Page 4 - 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




Business vs Engineering Degree

Reply
 
Thread Tools
  #31 (permalink)  
Old 17-11-2011, 12:13 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
OMG! hahahaha


I'm also engineer aspiring to shift to Banking, but I'm scared of the layoffs which are more frequent in banking
Indeed alot of volatility in banking career, but overall offers better career advancement and exit paths. E.g. A few of my peers who quit ib are now in private equity, one turned into cfo in a listed company, one joined family office managing investments. A few moved to commodities trading firms with bigger cut of pnl. A few risk management guys moved to trading role, one in credit risk moved to client facing role. middle-office peers joined financial tech firms as business dev managers jetsetting around the region, those who managed to hang on in their firms for past tumultous 5-6 years have made MD at relative young age of late 30s.

Almost all have done well irregardless where they start in front, middle or back as long as one stays humble, hard working and striving for excellence in their role.

Reply With Quote
  #32 (permalink)  
Old 17-11-2011, 12:17 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
OMG! hahahaha


I'm also engineer aspiring to shift to Banking, but I'm scared of the layoffs which are more frequent in banking
it's not true that there are "frequent" layoffs in banking. the last major one happened more than 13 years ago during the asian financial crisis. it was reported in the papers that some UOB employees reported for work but were unable to login into their workstations.

but that was 13 years ago. in recent years, even during the US subprime crisis that affected the whole world, there weren't major layoffs.

even after you got layoff, if the economy picks up again quickly (which is likely to be the case), you will find ample employment opportunities.

don't listen to naysayers.

Reply With Quote
  #33 (permalink)  
Old 17-11-2011, 02:16 PM
Unregistered
Guest
 
Posts: n/a
Default

Is UOB a pure investment bank? Most of their staff are in other functions and IB portion is minimal part of their workforce. UOB, DBS, OCBC, HSBC, Stanchart have large non-IB workforce. This banking model is generally more resilient. Especially since the last crisis started in the US and was pretty much a v shaped recovery. Hence perhaps why you don't get the impression that alot of finance jobs were lost.

The impression that IB is cyclical and "hire/fire" is a more accurate depiction. There is an articile this morning in the papers talking about 200,000 jobs being lost globally. Whilst this maybe small compared to the total % of financial services workforce, this is just the start. The physical economy has not been really hit yet. The brunt of cuts are yet to come.

I was in a US I.bank during the sub-prime, 2/3 of staff lost their jobs. The floor was 2/3 empty.

Now, I'm in another bank. Yesterday, all the HR meeting rooms were fully booked for staff cuts.

People are getting laid off as we speak.

Now I am

Quote:
Originally Posted by Unregistered View Post
it's not true that there are "frequent" layoffs in banking. the last major one happened more than 13 years ago during the asian financial crisis. it was reported in the papers that some UOB employees reported for work but were unable to login into their workstations.

but that was 13 years ago. in recent years, even during the US subprime crisis that affected the whole world, there weren't major layoffs.

even after you got layoff, if the economy picks up again quickly (which is likely to be the case), you will find ample employment opportunities.

don't listen to naysayers.

Reply With Quote
  #34 (permalink)  
Old 17-11-2011, 03:50 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Is UOB a pure investment bank? Most of their staff are in other functions and IB portion is minimal part of their workforce. UOB, DBS, OCBC, HSBC, Stanchart have large non-IB workforce. This banking model is generally more resilient. Especially since the last crisis started in the US and was pretty much a v shaped recovery. Hence perhaps why you don't get the impression that alot of finance jobs were lost.

The impression that IB is cyclical and "hire/fire" is a more accurate depiction. There is an articile this morning in the papers talking about 200,000 jobs being lost globally. Whilst this maybe small compared to the total % of financial services workforce, this is just the start. The physical economy has not been really hit yet. The brunt of cuts are yet to come.

I was in a US I.bank during the sub-prime, 2/3 of staff lost their jobs. The floor was 2/3 empty.

Now, I'm in another bank. Yesterday, all the HR meeting rooms were fully booked for staff cuts.

People are getting laid off as we speak.

Now I am
Sounds scary.... but the fact that you found a job soon after the 2/3 horror shows there's nothing to worry about. In a year or 2, you'll be here again posting about how you survive 2 crises in a row.
Reply With Quote
  #35 (permalink)  
Old 17-11-2011, 04:07 PM
Fabian
Guest
 
Posts: n/a
Default

The fact that an innocent thread that starts off discussing business vs engineering education can degenerate into yet another banking thread shows how desperate the have-nots are to get a banking job.
Reply With Quote
  #36 (permalink)  
Old 17-11-2011, 04:14 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Fabian View Post
The fact that an innocent thread that starts off discussing business vs engineering education can degenerate into yet another banking thread shows how desperate the have-nots are to get a banking job.
So the haves better yaya while they can.
Reply With Quote

  #37 (permalink)  
Old 17-11-2011, 04:30 PM
Senior Member
 
Join Date: Jul 2011
Posts: 38
poorman is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
Wow. So the SMU marketing team hangs out here in salary.sg forum too?
nah. they're too busy doing real marketing and establishing strong relations with the big banks and corporations to even waste their time on this forum.

SIM-UOL grad here btw.
Reply With Quote
  #38 (permalink)  
Old 17-11-2011, 08:00 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by poorman View Post
nah. they're too busy doing real marketing and establishing strong relations with the big banks and corporations to even waste their time on this forum.

SIM-UOL grad here btw.
Be careful, your statement may awaken an Ivy League guy who is an SMU-basher.
Reply With Quote
  #39 (permalink)  
Old 18-11-2011, 04:30 PM
Senior Member
 
Join Date: Jul 2011
Posts: 38
poorman is on a distinguished road
Default

Well, if we're bringing Ivy League into the fray, then there's no question that they're obviously ranked higher.

It would be incredibly arrogant if a SMU grad were to rate himself higher than an Ivy-Leaguer.
Reply With Quote
  #40 (permalink)  
Old 19-11-2011, 06:22 AM
Unregistered
Guest
 
Posts: n/a
Default

But they are incredibly arrogant

Quote:
Originally Posted by poorman View Post
Well, if we're bringing Ivy League into the fray, then there's no question that they're obviously ranked higher.

It would be incredibly arrogant if a SMU grad were to rate himself higher than an Ivy-Leaguer.
Reply With Quote
Reply

Bookmarks

Tags
business, engineering, ibanking, investment banking

« 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
ANZ Singapore-NZ Scholarship Programme (for Commerce/Business degree) warning Education and Personal Growth 1 13-06-2012 09:55 PM
Accountancy or Business Degree? slayercsa Income and Jobs 1 17-07-2011 09:00 PM
ANZ Singapore-NZ Scholarship Programme (for Commerce/Business degree) warning Education and Personal Growth 0 04-07-2011 08:17 PM
Is business management degree relevent? dryden28 Education and Personal Growth 4 01-02-2011 05:05 PM
Degree in business management nightrod Income and Jobs 3 30-01-2011 04:56 PM

» 30 Recent Threads
Compare civil service salary ( 1 2 3... Last Page)
16,344 Replies, 12,458,489 Views
Career as Teacher ( 1 2 3... Last Page)
10,855 Replies, 6,672,124 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,331 Replies, 1,142,597 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
311 Replies, 369,474 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,322 Replies, 4,985,209 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,458 Replies, 784,883 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,806 Replies, 1,045,541 Views
Why Is Having a Google Virtual...
1 Replies, 6,786 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,240 Replies, 3,400,010 Views
JP Morgan ( 1 2 3... Last Page)
199 Replies, 173,514 Views
GovTech ( 1 2 3... Last Page)
5,163 Replies, 2,164,970 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,050 Replies, 440,837 Views
Mining Industry ( 1 2 3... Last Page)
80 Replies, 74,534 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,340 Replies, 4,772,987 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
171 Replies, 309,634 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
680 Replies, 388,927 Views
Lawyer Salary ( 1 2 3... Last Page)
21,015 Replies, 10,331,658 Views
ST Electronics ( 1 2 3... Last Page)
3,768 Replies, 1,545,533 Views
Is getting a PMP worth it ?
4 Replies, 7,176 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,735 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,903,644 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,437 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,657,737 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 814,063 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,838 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,325,167 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,877 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,824 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,947 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,739,188 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 05:47 PM.


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