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Old 16-05-2012, 10:08 AM
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Default Oxford fresh grad starting pay

Hello,

Ill be graduating from oxford this year. May I know what compensation packages I should be expecting given that Ill be applying to GIC, foreign banks, and local banks?


Cheers!

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Old 16-05-2012, 10:14 AM
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Quote:
Originally Posted by oxfordd View Post
Hello,

Ill be graduating from oxford this year. May I know what compensation packages I should be expecting given that Ill be applying to GIC, foreign banks, and local banks?


Cheers!
Since you're a fresh grad, you'll have to take whatever they offer, your degree notwithstanding. If you have to put down a figure, you can try 5-6k.

The job market isn't particularly good these days. GIC has its pool of scholars, direct and indirect from government agencies, to tap on.

Any particular reason why you aren't trying London first? It's always good exposure for overseas grads (I assume you're Singaporean). Is London's jobs situation very bad?

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Old 16-05-2012, 12:54 PM
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about USD 35k per month

should nt be a problem.

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Old 16-05-2012, 08:42 PM
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friend this is not a command economy. you get paid based on where you work....
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Old 17-05-2012, 03:11 AM
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Dear Unregisted,

Ill most probably be trying the london firms as well, just wondering how competitive the pay packages are in singapore. Do you have any idea how much these GIC scholars get paid then?
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Old 17-05-2012, 03:16 AM
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you're graduating in a month and only applying now? that ship has long sailed mate.
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Old 17-05-2012, 11:08 AM
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GIC graduate program I was offered $5k p/m only. Pretty low but it goes up to $8k plus after 1st year when you get assigned to a dept.

After that, I dont know cuz I took up a bank job instead. I wasn't a scholar and it was precisely that reason why I didn't take up the job. You don't want to be second class the moment you enter.
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Old 17-05-2012, 11:36 AM
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GIC graduate program I was offered $5k p/m only. Pretty low but it goes up to $8k plus after 1st year when you get assigned to a dept.

After that, I dont know cuz I took up a bank job instead. I wasn't a scholar and it was precisely that reason why I didn't take up the job. You don't want to be second class the moment you enter.
Highly overpaid. Such obscene pay leads to the obstentatious arrogance we see of overpaid bankers. Can't blame them. It's the result of over-liberalization of the finance sector in US. Affects the whole world.
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Old 17-05-2012, 05:20 PM
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On what basis do you say that $5k a month is over-paid?

Banking jobs are limited. The demand to land such jobs far exceed the supply. Like everything that is limited, a system of allocation needs to be in-place. Our society has elected to use the system of meritocracy - We allocate limited resources based on merit.

Perhaps, only the brightest 1-2% of our generation land such jobs. The top graduates from our education system.

What is the cut-off point for public housing? $10k pm. ($12k if you consider EC). What is the proportion living in private housing? About 20%.

So 20% of households should be earning >$10/12k per month. Income disparity rises as you go up the scale.

What should the top 1-2% of our society be earnining? How much do top 1-2% of Doctors, Lawyers, Company management earn in our society? About $1-2 million a year according to PAP. So a starting pay of $5k pm ($60k pa) seems to be on the low side to me.


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