Oil and gas vs Banking

Originally Posted by Unregistered

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.

Are you saying that this outstanding performer in EM, should be happy with 150K/yr after TEN years? Keeping in mind that this outstanding performer would need cash in the early years of his career to buy his house, car, start a family etc. But this person starts in year one with around 60k/yr, which is not much nowadays.

Having a high salary early in life is advantageous, because there is more time to invest and multiply the money. Surely this outstanding performer would be comparing with his friends of similar calibre, who would be earning more than 150K/ yr after *TEN* years. And because of their higher salary early in life, may have already acquired (for example) two or three properties, snowballing their wealth.

Given one candidate with an excellent track record, and another with an average track record. All things being equal, who would hire a guy with the worse track record because of a belief that ' past performance is not 100% indicator of future performance' ?

wah.. starting pay of 60k for fresh grad is not much?

then, i am wondering y most fresh grads have difficulties securing starting pay of 2.8K.

Some recruit agencies even find 2.5k too high for freshies.

[Bean]

Originally Posted by arigatoast

wah.. starting pay of 60k for fresh grad is not much?

then, i am wondering y most fresh grads have difficulties securing starting pay of 2.8K.

Some recruit agencies even find 2.5k too high for freshies.

my starting pay in 2007 is 2.9k,
1st year annual is about 55k..

5th year annual with 1 promotion is about 68k......

moi friend 5th year annual with 2 promotion in same coy is 74k....

we all still with 1st job
-------------------------------------------------------------

from other thread an oil/gas engineer 1st class still with is 1st job
starting = 3.2k
by 5th year with 1 promotion = 6.5k (annual - 120k)

Starting salary of 60k is not much, depending on lifestyle preferences. COE alone 80k, condo 1M, typical wedding dinner 30K. Unless he is so smart and lucky with his investments that he is able to multiply his money although he does not have much to begin with after deducting living expenses.

Alternatively this outstanding top performer is truly contented taking MRT/ bus everyday, is happy to live in public housing, and is happy to have a low cost wedding, bring his children up frugally. Then 60K is enough.

What is worse than starting with 60K, is being high calibre and working for ten years, only to reach 100K. However, having said all these negative stuff, it is definitely true that EM would be a good stepping stone to something bigger.

Since EM is so open with their pay structure, potential hires go into it with their eyes open. If they are alright with it, so be it. I have nothing to lose or gain, just posting an opinion.

We need someone just like you to sit outside our toilet to collect coins.. U interested?

Originally Posted by haiz2006

What job are u exactly holding?
I have civil engineering degree...any lobang?

I have proj mgt and sales exp

Originally Posted by Unregistered

Starting salary of 60k is not much, depending on lifestyle preferences. COE alone 80k, condo 1M, typical wedding dinner 30K. Unless he is so smart and lucky with his investments that he is able to multiply his money although he does not have much to begin with after deducting living expenses.

Alternatively this outstanding top performer is truly contented taking MRT/ bus everyday, is happy to live in public housing, and is happy to have a low cost wedding, bring his children up frugally. Then 60K is enough.

What is worse than starting with 60K, is being high calibre and working for ten years, only to reach 100K. However, having said all these negative stuff, it is definitely true that EM would be a good stepping stone to something bigger.

Since EM is so open with their pay structure, potential hires go into it with their eyes open. If they are alright with it, so be it. I have nothing to lose or gain, just posting an opinion.

oh man.. i grad in 2010 with starting pay of 2800.. i think i will have a hard time surviving in Singapore.. since as you have described 60k per year is not much

Originally Posted by Unregistered

oh man.. i grad in 2010 with starting pay of 2800.. i think i will have a hard time surviving in Singapore.. since as you have described 60k per year is not much

850 pm can already own HDB. You can own 3 HDB with spare cash left.

Eh.. pls lah... Personnally, i felt that was simply too extreme an example to give hope to the needy..... With only $850 a month, you can probably only afford to rent a storeroom inside a 3-Room HDB to stay in.... Not even sure the remaining amount can cover your food and transport?? Crazy!!

Originally Posted by Unregistered

850 pm can already own HDB. You can own 3 HDB with spare cash left.

Originally Posted by Unregistered

Eh.. pls lah... Personnally, i felt that was simply too extreme an example to give hope to the needy..... With only $850 a month, you can probably only afford to rent a storeroom inside a 3-Room HDB to stay in.... Not even sure the remaining amount can cover your food and transport?? Crazy!!

Our government said it and Straits Times reported it, so it must be true. Are you saying that our government is lying?

Haha.. our government really got it right on that one.

Originally Posted by Unregistered

Our government said it and Straits Times reported it, so it must be true. Are you saying that our government is lying?