Insurance Management Associate Program (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?

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

[COVID-19]

Originally Posted by Unregistered

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

Originally Posted by Random12345

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.

Originally Posted by Unregistered

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?

Originally Posted by Unregistered

How is the salary progression like over the years?

any seniors out there who can give us some insights on this?

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

Originally Posted by Unregistered

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.

Originally Posted by Lol

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?

Originally Posted by Lol

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?