Insurance Management Associate Program (IMAP) - 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




Insurance Management Associate Program (IMAP)

Reply
 
Thread Tools
  #31 (permalink)  
Old 31-03-2020, 04:33 AM
Unregistered
Guest
 
Posts: n/a
Default Other Opinions of iMAP

Are there any other seniors out there in the IMAPs that have had positive experiences? Also, after the programme, what kind of roles and pay raises did you guys get? Is it true that you might be given fresh grad roles?

Reply With Quote
  #32 (permalink)  
Old 06-04-2020, 08:12 PM
Unregistered
Guest
 
Posts: n/a
Default

bump, curious to know if there are positive prospects out of this program as well.

Reply With Quote
  #33 (permalink)  
Old 06-04-2020, 09:02 PM
Verified Member
 
Join Date: Mar 2020
Posts: 11
COVID-19 is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
Are there any other seniors out there in the IMAPs that have had positive experiences? Also, after the programme, what kind of roles and pay raises did you guys get? Is it true that you might be given fresh grad roles?
Totally true. But the pay won't be fresh grad pay of course.
For my program, some ended up as assistant manager if they got a role that they rotated before, others are called "analyst".
Pay raise depends on your performance. Must be competitive and the best out of the cohort. If not, normal increment can be $100+ to almost a $1,000

Reply With Quote
  #34 (permalink)  
Old 15-04-2020, 09:34 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Random12345 View Post
I'm not denying that this is a good industry. But all I'm saying is if you come in as an IMAP. You are very under valued as an MA. I know of friends who are executives after 2 years (eg same as fresh hire grading). I also know of MAs who earn less than direct hires who just came in. I hate to break it the truth but as an IMAP myself I came in believing my future is bright and all will be well, but honestly with MAS sponsoring half your salary, companies take you in as a cheap hire. If you're lucky to find one company that really want to groom you as a true MA then congratulations (there are cases like this, promoted and significant salary increase after completion). I'm just saying this isn't the case for most other IMAPs i personally know.

If i had the choice again. I would rather be a direct hire as compared to a rotating IMAP. Yes i agree be patient 10 to 15 years you will reach it there 150K per annum no problem. But then again lets think of it logically ...10 to 15 years. Which industry will not give you 150K after 10 to 15 years (assuming you don't screw up and work diligently and move up the rank normally, promote once per 3 years which is relatively slow... you're already 5 ranks higher after 15 years and should be fetching 10K plus per month)

My point and conclusion here is just that: it is not worth it to be an IMAP thats all. Cause from my experience and what i observed. The fast track is a scam and i believe that's why many decided to join IMAP for a so called fast track future right? No insults to the industry, i highly reccomend all fresh grads to join the industry as a broker/underwriter or actuary it is a good career. Just probably not under the IMAP scheme. As for ACII yeah maybe it is getting more recognised but like the poster pointed out, its a relationship business. Your connection is your power not your cert.

Ps. For privacy sake I'm not gonna reveal which batch and big3 I'm in. Please understand that. Observations are from people i know cross batches including current to even the very first batch when it was not even called IMAP yet. This is my very opinion. But of course since its a forum everyone is dedicated to their own very honest opinions.
Where you start is not important, you are harping on pennies. When you reach the 150k level, a small jump is worth more than MA or Exec starting pay differential. Btw, not everyone will achieve 150k after 10 to 15 yrs. Remember, the pyramid is smaller as you go up. A tip for you in this industry, a desk bound broker is not half as good as one that goes out to meet and talk to underwriters and clients. Network, network, network.
Reply With Quote
  #35 (permalink)  
Old 23-04-2020, 07:55 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Where you start is not important, you are harping on pennies. When you reach the 150k level, a small jump is worth more than MA or Exec starting pay differential. Btw, not everyone will achieve 150k after 10 to 15 yrs. Remember, the pyramid is smaller as you go up. A tip for you in this industry, a desk bound broker is not half as good as one that goes out to meet and talk to underwriters and clients. Network, network, network.
How is the salary progression like over the years?
Reply With Quote
  #36 (permalink)  
Old 28-04-2020, 09:25 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
How is the salary progression like over the years?
any seniors out there who can give us some insights on this?
Reply With Quote

  #37 (permalink)  
Old 29-04-2020, 10:40 PM
Lol
Guest
 
Posts: n/a
Default Imap so bad

To those interested in the program, take it as if you wanna explore an (unique) industry
This is neither your MA program in banks nor the Grad programs in civil service.

I was part of the program in one of the (then) big3 brokers.

Pros:
Some overseas exposure when sent to London w your batchmates, awesome fun with bunch of same age folks roaming Central London/UK.

Cons:
Salary was pegged at 3.2k (sucked balls, had to drive grab to make up for the income gap)
No performance bonus
Rotation meant you don't have a home dept/boss to fight for your promotion/increment during appraisal
Colleagues are not the smartest nor the brightest (not good for professional growth if you aren't young, no one to look up to in office)
Post grad certification (many peers fail miserably - xia suay - but it was quite easy for me, aced it and they will give you some paper with your name on it. Mehhhh)
Full of (incapable) ang mohs who talk more than they pang sai
Bond of $xxxxx

Only 2-3 people I know from the program stayed on in the industry.

The rest left on the dot when their bonds are up or be like me break the bond to jump out of the program, company and industry all together.

That being said with covid infecting this economy, I guess the industry will get a bumper intake of quality people from imap.

Cheers
Reply With Quote
  #38 (permalink)  
Old 01-05-2020, 10:36 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
bump, curious to know if there are positive prospects out of this program as well.
If u are chio and willing to open pussy. U will do well

If not u will probably die of hunger with such economic outlook.

Many of my pretty friends are opening their pussy to survive.
Reply With Quote
  #39 (permalink)  
Old 04-05-2020, 12:20 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Lol View Post
To those interested in the program, take it as if you wanna explore an (unique) industry
This is neither your MA program in banks nor the Grad programs in civil service.

I was part of the program in one of the (then) big3 brokers.

Pros:
Some overseas exposure when sent to London w your batchmates, awesome fun with bunch of same age folks roaming Central London/UK.

Cons:
Salary was pegged at 3.2k (sucked balls, had to drive grab to make up for the income gap)
No performance bonus
Rotation meant you don't have a home dept/boss to fight for your promotion/increment during appraisal
Colleagues are not the smartest nor the brightest (not good for professional growth if you aren't young, no one to look up to in office)
Post grad certification (many peers fail miserably - xia suay - but it was quite easy for me, aced it and they will give you some paper with your name on it. Mehhhh)
Full of (incapable) ang mohs who talk more than they pang sai
Bond of $xxxxx

Only 2-3 people I know from the program stayed on in the industry.

The rest left on the dot when their bonds are up or be like me break the bond to jump out of the program, company and industry all together.

That being said with covid infecting this economy, I guess the industry will get a bumper intake of quality people from imap.

Cheers
Were there annual increment in salary? Additionally, what are the exit options like for people who have completed the program and left right after that?
Reply With Quote
  #40 (permalink)  
Old 04-05-2020, 12:22 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Lol View Post
To those interested in the program, take it as if you wanna explore an (unique) industry
This is neither your MA program in banks nor the Grad programs in civil service.

I was part of the program in one of the (then) big3 brokers.

Pros:
Some overseas exposure when sent to London w your batchmates, awesome fun with bunch of same age folks roaming Central London/UK.

Cons:
Salary was pegged at 3.2k (sucked balls, had to drive grab to make up for the income gap)
No performance bonus
Rotation meant you don't have a home dept/boss to fight for your promotion/increment during appraisal
Colleagues are not the smartest nor the brightest (not good for professional growth if you aren't young, no one to look up to in office)
Post grad certification (many peers fail miserably - xia suay - but it was quite easy for me, aced it and they will give you some paper with your name on it. Mehhhh)
Full of (incapable) ang mohs who talk more than they pang sai
Bond of $xxxxx

Only 2-3 people I know from the program stayed on in the industry.

The rest left on the dot when their bonds are up or be like me break the bond to jump out of the program, company and industry all together.

That being said with covid infecting this economy, I guess the industry will get a bumper intake of quality people from imap.

Cheers
Thanks for your response. Would you know what are the exit options like for those who have completed the program and left right after they finished their bond? Additionally, did you had any annual salary increment?


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iPhone


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
Q: Management Associate at SGX Saab Income and Jobs 83 Yesterday 10:46 PM
PSA Management Associate Programme kwkhiu Income and Jobs 8 17-03-2020 01:26 PM
Management Associate Program hexengeist Income and Jobs 0 05-09-2013 01:40 PM
standard chartered finance management trainee program alwaysnforever Income and Jobs 3 07-02-2013 03:44 PM
Dive Management Associate Program Rickykoh Marketplace and Find Work 0 20-01-2013 01:30 PM

» 30 Recent Threads
Compare civil service salary ( 1 2 3... Last Page)
9,659 Replies, 5,446,488 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
2,573 Replies, 1,250,947 Views
Insurance Agent to Bancassurance...
7 Replies, 5,075 Views
Roles in accenture singapore ( 1 2 3... Last Page)
329 Replies, 240,266 Views
Q: Management Associate at SGX ( 1 2 3... Last Page)
83 Replies, 11,775 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
923 Replies, 739,133 Views
DBS Management Associate Program... ( 1 2 3... Last Page)
1,295 Replies, 234,429 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,816 Replies, 1,057,296 Views
Cold calls/emails to HR ( 1 2)
10 Replies, 1,057 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
79 Replies, 62,189 Views
ITE lecturer ( 1 2 3... Last Page)
121 Replies, 113,659 Views
Insurance Management Associate... ( 1 2 3... Last Page)
60 Replies, 16,196 Views
Lawyer Salary ( 1 2 3... Last Page)
5,699 Replies, 2,380,584 Views
Diploma in Digital Marketing at...
2 Replies, 979 Views
Mask price discount in cb period
0 Replies, 31 Views
Marsh Graduate Development Program ( 1 2 3... Last Page)
43 Replies, 4,225 Views
Pay grade at CSA ( 1 2 3... Last Page)
102 Replies, 23,566 Views
All about Home Affairs Senior... ( 1 2 3... Last Page)
168 Replies, 169,214 Views
Local Uni Class of 2020 - COVID19... ( 1 2 3... Last Page)
244 Replies, 46,030 Views
Whats your net worth ( 1 2 3... Last Page)
2,710 Replies, 779,748 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,156 Replies, 879,189 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,207 Replies, 1,858,655 Views
Dentist Salary
7 Replies, 6,037 Views
Fresh Grad from local U cant find... ( 1 2 3... Last Page)
55 Replies, 10,356 Views
Our Poll Results: 45% Fresh... ( 1 2 3... Last Page)
47 Replies, 21,184 Views
Singtel Management Associate... ( 1 2 3... Last Page)
124 Replies, 81,591 Views
Dsta ( 1 2 3... Last Page)
803 Replies, 533,539 Views
Possible to earn passive income... ( 1 2)
12 Replies, 2,319 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,974 Replies, 917,354 Views
High Finance Thread ( 1 2 3... Last Page)
79 Replies, 13,499 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 01:39 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2