Oil and gas vs Banking - Page 3 - 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




Oil and gas vs Banking

Reply
 
Thread Tools
  #21 (permalink)  
Old 24-03-2012, 01:44 PM
Unregistered
Guest
 
Posts: n/a
Default

Seems rather low for oil and gas.



SG BusLeh mobile app
SG BusLeh - the best bus app - available on iPhone and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #22 (permalink)  
Old 24-03-2012, 06:05 PM
Super Member
 
Join Date: Oct 2011
Posts: 309
Bean is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
how many years have u been in exxon? your projections dont seem to consider promotional increment..
he say 1.5years exp!!!

starting salary ~3600
after 1 year = 1.12 x 3600 = 4032
Annual =15 x 4032 = 60480, well very close to 61K..

since TS only 1.5 years exp, need to wait for 0.5 year more for the next increment of another 12%

by then with 2 years exp,
salary = 4032 x 1.12 = 4515
Annual = 15 x 4515 = 67737, well very close to 68K..

from 3rd year onward, the annual increment or (promotion if any) is based on individual performance,

TS stated PB is sub divided in 3 category, top 33%, mid 33%, last 33%..

top 33%>>annual increment ~10-12%
mid 33%>>annual increment ~5-6%
last 33%>>annual increment ~maybe 3-4%

Reply With Quote
  #23 (permalink)  
Old 24-03-2012, 09:20 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Bean View Post
he say 1.5years exp!!!

starting salary ~3600
after 1 year = 1.12 x 3600 = 4032
Annual =15 x 4032 = 60480, well very close to 61K..

since TS only 1.5 years exp, need to wait for 0.5 year more for the next increment of another 12%

by then with 2 years exp,
salary = 4032 x 1.12 = 4515
Annual = 15 x 4515 = 67737, well very close to 68K..

from 3rd year onward, the annual increment or (promotion if any) is based on individual performance,

TS stated PB is sub divided in 3 category, top 33%, mid 33%, last 33%..

top 33%>>annual increment ~10-12%
mid 33%>>annual increment ~5-6%
last 33%>>annual increment ~maybe 3-4%
so whats the promotional increment? 20%? 25%?

Reply With Quote
  #24 (permalink)  
Old 24-03-2012, 11:25 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Seems rather low for oil and gas.
How much do you want?
Reply With Quote
  #25 (permalink)  
Old 25-03-2012, 12:32 AM
Unregistered
Guest
 
Posts: n/a
Default 2cents worth

Exxon is a very good company to work for! Many ple r hoping to be in your shoes working for such a prestigious company!

My 2cents worth is that unless u can get into FO, its better to stay in EM!
Reply With Quote
  #26 (permalink)  
Old 25-03-2012, 01:10 AM
Super Member
 
Join Date: Oct 2011
Posts: 309
Bean is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
so whats the promotional increment? 20%? 25%?
he never say he promoted? Anyway I dun think there will be any promotion in the first 2 years in EM...

maybe from the 3rd year onward will have promotion if he perform well...


ya I am also asking this question too:
>>when promoted, how much will be the solely promotion increment(excluding annual increment)? how many %
Reply With Quote

  #27 (permalink)  
Old 28-03-2012, 08:16 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by sgengineer View Post
Hi All,

I am currently working as an engineer at one of the oil and gas MNC. I had been with the company for 1.5 years upon graduation and my annual salary for 2011 was ~61k.

My company has a policy that new hires will have a fixed increment of ~12% per year for the first 2 years. On top of that all SG employees are given a fix bonus of 3 months regardless of company's performance. As such, I can quite accurately project my 2012 annual income to be ~68k.

Every year we have a force ranking and employees are classified into the top 33%, middle 33% or bottom 33%. This will in turn affect their subsequent year increment where the top 33% will get ~10-12% (estimate) increment, middle 33% ~5-6% increment, bottom 33% may be given very low increments.

Hence, if one is doing well in the company (consistency performing well in the top tier), he/she will be able to hit ~10k/month or ~150k/annum salary after 10 years of service. On the other hand, the average performer will be able to hit around 7k/month or ~100k/annum salary after 10 years of service.

On top of that my company position is to provide long time employment and they do not have any records of laying off employees during bad economies as compared to other oil and gas company which may pay better but had cases of retrenchment or pay cut during an economy down turn.

On the overall, what I gathered is the company I am working for provides a stable income for me to sustain a comfortable lifestyle. Moreover I typically do not need to work OT too often, maybe only about 3-4 days per month where I have to stay till 7+ pm in office.

However, I look around and see some bankers/traders who are able to make much more money and live luxuriously and that got me to consider if I want to jump over to the financial sector for that monetary reward. However I am one who value work life balance and I am worried I might regret jumping into the financial sector where the hours are always rumored to be very bad. Also, I am also considering the risk of not being able to perform in the financial sector or how the financial sector hire and fire base on the economy.

I would like to hear advices from all you fellows out there on what you will do if you are in my shoe? Be satisfied with a comfortable life, or take a risk and jump into another sector which is deemed lucrative to either make it, or break it.
Which oil and gas company is this? Exxonmobil? Shell?
Reply With Quote
  #28 (permalink)  
Old 28-03-2012, 10:32 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
How much do you want?
To join EM is not easy, the candidate would definitely be above average, outstanding even amongst his peers at university. In EM, due to a presumably stringent selection process, everyone is above average as compared to other companies regardless of job scope. Then it is even more difficult to be a top performer.

-For such an excellent person (top performer out of a whole company of above-average persons), paying him 150k/annum after TEN years is low. In another more lucrative sector, he would be making much more, 150k/annum after only a few years.

- Consider the average person in EM, who would be above-average in another less competitive company. He only gets 100k/annum after ten years. I say this is also low.

- Considering that EM is a very profitable company, they don't pay their people as well as I would have expected.

<< Hence, if one is doing well in the company (consistency performing well in the top tier), he/she will be able to hit ~10k/month or ~150k/annum salary after 10 years of service. On the other hand, the average performer will be able to hit around 7k/month or ~100k/annum salary after 10 years of service.>>
Reply With Quote
  #29 (permalink)  
Old 29-03-2012, 12:56 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
To join EM is not easy, the candidate would definitely be above average, outstanding even amongst his peers at university. In EM, due to a presumably stringent selection process, everyone is above average as compared to other companies regardless of job scope. Then it is even more difficult to be a top performer.

-For such an excellent person (top performer out of a whole company of above-average persons), paying him 150k/annum after TEN years is low. In another more lucrative sector, he would be making much more, 150k/annum after only a few years.

- Consider the average person in EM, who would be above-average in another less competitive company. He only gets 100k/annum after ten years. I say this is also low.

- Considering that EM is a very profitable company, they don't pay their people as well as I would have expected.

<< Hence, if one is doing well in the company (consistency performing well in the top tier), he/she will be able to hit ~10k/month or ~150k/annum salary after 10 years of service. On the other hand, the average performer will be able to hit around 7k/month or ~100k/annum salary after 10 years of service.>>


Yours is the twisted logic exactly used by our esteemed ministers to justify their astronomical pay. What makes think that past performance is a 100% indicator of future performance? Does a top student make a good employee? It's plausible, but not definite.

If this is how the world works, all top students will be billionaires.
Reply With Quote
  #30 (permalink)  
Old 29-03-2012, 09:53 AM
Unregistered
Guest
 
Posts: n/a
Default EM

Just want to add on based on my own experience.
EM is a very large company which is doing very well overall. The company is clearly driven by its mission to enhance its shareholder value. It has very good management systems to allow it to operate as a huge coroporation. Employee wise, they will reward people accordingly just to retain them in service, though their repsonse time to adjust based on market conditions can be slow and less flexible. However, if you are just a average performer, I can say the job can be quite secured. High flyers are transferred to different departments frequently, however pay wise may not be as high as compared to other companies in the oil/gas industry. In singapore, many senior management positions are taken up by foreigners from EM other locations. EM is constantly closing its refining business in other parts of the world, however Singapore is definitely its focus in Asia Pacific.
EM offers prestige and experience in management systems which other smaller companies may not have. There are many people left EM after 5-10 years and join other companies in the same industry, eg supporting industries. The new job nature may be different, more towards service, sales and technical, but as long as people can adapt to that change, the rewards and quality of life is usually much better than in EM. So I can say EM should be treated as a good training ground for other companies in the industry. However, I know many people still stay with EM after many years, not becasue it is a good company (EM can treat employees harshly, and the environment can be stressful and working hours can be very long), but most people are resistant to changes.


SG BusLeh mobile app
SG BusLeh - the best bus app - available on iPhone and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
Reply

Bookmarks

« 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
Engineer to banking index999 Income and Jobs 37 27-12-2015 11:48 PM
From Engineering to Banking learner Income and Jobs 18 16-08-2011 05:55 PM
Banking job title risem Income and Jobs 14 12-07-2011 01:13 AM
Wages are up in banking and IT: BT Salary.sg Income and Jobs 0 07-05-2007 01:39 PM

» 30 Recent Threads
Pay grade at CSA ( 1 2 3... Last Page)
70 Replies, 8,856 Views
Lawyer Salary ( 1 2 3... Last Page)
4,575 Replies, 1,651,667 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
2,542 Replies, 1,506,487 Views
MCI and IMDA ( 1 2)
10 Replies, 440 Views
Compare civil service salary ( 1 2 3... Last Page)
8,411 Replies, 4,686,350 Views
How is life as a doctor in... ( 1 2 3... Last Page)
711 Replies, 686,013 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
2,423 Replies, 1,135,662 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,488 Replies, 847,663 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
1,199 Replies, 917,230 Views
Career as Teacher ( 1 2 3... Last Page)
1,758 Replies, 1,164,612 Views
Pharmacy or Chemical Engineering ( 1 2 3... Last Page)
31 Replies, 8,254 Views
GIC career ( 1 2 3... Last Page)
224 Replies, 272,265 Views
NTUC income working environment
0 Replies, 88 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,620 Replies, 684,085 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
106 Replies, 54,840 Views
just ORD no job sian ( 1 2 3)
25 Replies, 4,656 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
54 Replies, 3,270 Views
How much are you earning per annum? ( 1 2 3... Last Page)
11,754 Replies, 3,424,143 Views
Constituency Manager (People... ( 1 2 3... Last Page)
719 Replies, 361,513 Views
Working in HDB ( 1 2 3... Last Page)
310 Replies, 219,366 Views
Work culture in CPF board ( 1 2)
17 Replies, 25,786 Views
Commercial Affairs Officer ( 1 2 3... Last Page)
102 Replies, 61,590 Views
fresh grad seeking a career,but no... ( 1 2 3... Last Page)
38 Replies, 12,158 Views
Reference checks ( 1 2 3)
24 Replies, 28,716 Views
Roles in accenture singapore ( 1 2 3... Last Page)
271 Replies, 187,923 Views
Singapore Land Authority
0 Replies, 90 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
598 Replies, 273,733 Views
Best Primary Schools 2019
0 Replies, 137 Views
DBS Management Associate Program... ( 1 2 3... Last Page)
1,132 Replies, 161,547 Views
Getting MBA worth? ( 1 2 3... Last Page)
98 Replies, 59,064 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:22 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2