Insurance Management Associate Program (IMAP) - Page 6 - 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
  #51 (permalink)  
Old 09-05-2020, 02:29 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Talking about Marilyn or Avril?
Is that you Alvin haha

Reply With Quote
  #52 (permalink)  
Old 09-05-2020, 02:37 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Do you have any idea how is the salary increment / career progression like for Marsh?
Nobody will say because although Marsh is big, it is actually not that big an organization in Singapore. Only got these few Imap. First year no increment, those who stay after bond even lesser. So easy to narrow down who is who. Nobody will act hero reveal their package here lah.

Reply With Quote
  #53 (permalink)  
Old 09-05-2020, 02:39 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.
Are you Kong tat, Kenneth, Wijohn or Melvin?

Reply With Quote
  #54 (permalink)  
Old 09-05-2020, 02:43 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Is that you Alvin haha
Who are you ? Don't anyhow expose people here.

Whatsapp me.
Reply With Quote
  #55 (permalink)  
Old 09-05-2020, 02:45 PM
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
Come back from London then break bond? Aon?
Reply With Quote
  #56 (permalink)  
Old 09-05-2020, 02:59 PM
Marshcares
Guest
 
Posts: n/a
Default

Marsh imap got chio bu hehe
Reply With Quote

  #57 (permalink)  
Old 09-05-2020, 03:19 PM
Marshlover
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Marshcares View Post
Marsh imap got chio bu hehe
So true.. the short skirts and the off shoulder tops

do not join if you are attached like me. lots of temptation.
Reply With Quote
  #58 (permalink)  
Old 24-05-2020, 03:55 PM
Verified Member
 
Join Date: Mar 2020
Posts: 20
COVID-19 is on a distinguished road
Default

Quote:
Originally Posted by Marshlover View Post
So true.. the short skirts and the off shoulder tops

do not join if you are attached like me. lots of temptation.
Do you know this girl called Avril then
Reply With Quote
  #59 (permalink)  
Old 24-05-2020, 04:02 PM
Verified Member
 
Join Date: Mar 2020
Posts: 20
COVID-19 is on a distinguished road
Default

As an IMAPer, you will have a mentor, buddy (for each rotation), coach (supervisor) and will need to do a performance review every rotation. Because IMAPers are fresh grads, it is hard to justify and ask for a higher pay. Plus it's actually competitive (first class honours go to Prudential IMAP).
The programme was disappointing as there were a lot of random projects that took up a lot of our time and we don't really learn much. There is immense cognitive dissonance that comes from being told I'm supposed to be appreciative of my amazing opportunities as an MA, while having to face a reality that the job I'm assigned to is one of the most uninspiring things I could do with my life.
At the end of the program, I was told that my choices (which were where I rotated to), will never have headcount due to automation, efficiency, and job freeze (this was years before covid). To HR, I am just a pawn, a chess piece. They told me I'm a plaster, to go wherever the organisation needs.
Then one day I applied to another company and was offered an amazing opportunity.
Reply With Quote
  #60 (permalink)  
Old 29-05-2020, 03:25 PM
Unregistered
Guest
 
Posts: n/a
Default

Any other companies available this year?
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 92 03-06-2020 05:02 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
How much do you earn and save? ( 1 2 3... Last Page)
198 Replies, 41,008 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,852 Replies, 1,239,076 Views
Comp Science Frsh Grad Salary ( 1 2 3... Last Page)
164 Replies, 7,164 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,693 Replies, 1,055,020 Views
Career as Teacher ( 1 2 3... Last Page)
3,016 Replies, 1,889,370 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
451 Replies, 145,250 Views
UOB Management Associate Program ( 1 2 3... Last Page)
355 Replies, 204,682 Views
Compare civil service salary ( 1 2 3... Last Page)
11,158 Replies, 6,215,614 Views
Lawyer Salary ( 1 2 3... Last Page)
10,001 Replies, 3,338,560 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
1,108 Replies, 866,365 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,562 Replies, 2,115,496 Views
How long does uob get back to you...
8 Replies, 1,369 Views
Mortgage Specialist Role.
3 Replies, 1,851 Views
GovTech career grade ( 1 2 3... Last Page)
173 Replies, 183,669 Views
ST Electronics ( 1 2 3... Last Page)
1,301 Replies, 319,001 Views
High Finance Thread ( 1 2 3... Last Page)
155 Replies, 36,710 Views
Singtel Management Associate... ( 1 2 3... Last Page)
180 Replies, 104,466 Views
Starting pay for fresh uni grad... ( 1 2 3... Last Page)
67 Replies, 5,936 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
3,941 Replies, 1,400,673 Views
Lonza Biotechnologist
0 Replies, 63 Views
MOH Graduate Studies Scholarship ( 1 2)
15 Replies, 16,152 Views
Third Class Honours/Second Lower... ( 1 2 3)
29 Replies, 27,364 Views
SEA Limited
6 Replies, 1,549 Views
Audit DGS
0 Replies, 74 Views
Starting new employment while...
6 Replies, 311 Views
Job Application with MOE... ( 1 2 3... Last Page)
269 Replies, 241,516 Views
Big4 Tax Career Prospect
4 Replies, 2,308 Views
Personal Assistant
0 Replies, 91 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:07 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2