Mid career crisis

Originally Posted by Unregistered

wow applying for sim now..

Asshole stop lying. Sim is for losers.

My nus engineer friend barely draws 6k .

I feel quite good actually, knowing that this SIM "loser" is better off than your "nus engineer friend" AKA yourself!

Btw when I refer to "my peers" I mean those +/- 2 years of my age. who (other than civil service) cares whether you are from NUS/NTU/SMU or SIM/UOL once you have sufficient working experience under your belt?

Hi infernolord,
You mentioned that you quit as you didn't have a good relationship with your ex boss.
Did your new company ask for referrals fr your ex-company?
How did you deal with it?

odd.. I always thought buy side pays well.

I am sell side analyst earning 13k base... 1 year experience...

Originally Posted by infernolord

Not sure if I in this situation but I do feel abit depressed.

I was working in a reputable asset management firm for 7 years as a investment assistant before I moved to another asset management for about 2 years.

I was asked to leave last year and was given 2 month compensation. Yes, I have been jobless for more than 6 months since last Jun.

It took me so long to find a job. Only recently I landed myself in a small korea AM firm. I have almost 10 years of experiences but I feel that I still do not have the expertises in my line. I am early 30s and my recent job is 7k and there is no bonus.

Feeling abit loss. After reading this forum, I see people with 5 yrs exp earning 10k with confidence in their job.

Is there anyone facing the same situation as me?

i feel like you...
almost 8 yrs experience but have been getting fixed. most of it from variable which is tied to performance and sometimes market conditions which we cannot predict. like you i sometimes worry what happens if i lose my job at late 30s early 40s.
thinking of learning new skills.

Originally Posted by Unregistered

i feel like you...
almost 8 yrs experience but have been getting fixed. most of it from variable which is tied to performance and sometimes market conditions which we cannot predict. like you i sometimes worry what happens if i lose my job at late 30s early 40s.
thinking of learning new skills.

You can take up nursing as demand is high for nurses.

What Minister mentioned is just the seemed like salary, in actual facts, it is much lower when you compare to salaried government employees.

$3173 after fuel, ERP and rental deductions.
$2681 <----Equivalence of an employee with 17% CPF contribution by employer
$2145 <----Equivalence of a government employee with 3 months bonus
$1966 <---- If he takes public holidays off and have 14 days off per year (not including rentals that he also has to pay). Basically 11/12 of the rate

$1966 for 12 hours 6 days per week or 72 hours of work vs 44 hours of employees.
If we extrapolate this to 44 hours per week, we have
44/72 * $1966 = $1202.

$1200 is the minimum wage for cleaners in Singapore who work 44 hours per week.
So are Taxi Drivers making a lot of money taking the minimum amount of money that cleaners make (if he only works 44 hours per week). It seems higher with the 1.0 (not 1.5) OT rate hours that he puts in in order to survive.

Originally Posted by Unregistered

It just shows how poisionous all this comparison with each other in the finance industry. Now even getting 7.5k in your mid 30s is something to complain & bitch about.... haha the rest of us making 5k at the same age might as well jump bedok reservoir lah like that...

I am only making 3.5k in my thirties...

I'm in my forties, make only $3.4k pm.

I was in the civil service (7yrs), last drawn 4k before moving to recruitment sales. 29yo this yr sim grad.

I just wan to say that after being a recruiter i realized much to my astonishment, many people are unemployed at late 30s and early 40s, many are laid off though some claimed they resigned to take a break. My point is, if you are earning a good 5digit pay cheque in roles where there are plenty of candidates (banking,marketing, HR...etc), i will always be able to find someone who's willing to do your job at half the price you are commanding. Hence, many companies restructure to 'get rid' of high earners.

There are many roles out there without aws or other bonus structure so whatever you think you are earning now every month is unimportant because what matters most in the entire salary package and JOB SECURITY. Call me old school, but as a recruiter i have seen pple earning a ridiculous pay cheque for uncomplicated job scope while pple who r talented take home peanuts.

Take the comments here with a pinch of salt. You are lucky with what you have and where u r. There are those who have been jobless for more than a year and refused to take a pay cut.

Honestly well paying jobs are the sales line, if u wan to earn big bucks u have to slog ur ass off. Otherwise, focus on quality of living instead...

This is very good advice. If I am in my early 40s working in finance sector, earning $200k pa, is it better for me to stay put in a fully paid HDB flat or to upgrade to a condo and take on more mortgage? What are the risk of me being replaced in a role which can be done by someone else cheaper?

Originally Posted by Unregistered

I was in the civil service (7yrs), last drawn 4k before moving to recruitment sales. 29yo this yr sim grad.

I just wan to say that after being a recruiter i realized much to my astonishment, many people are unemployed at late 30s and early 40s, many are laid off though some claimed they resigned to take a break. My point is, if you are earning a good 5digit pay cheque in roles where there are plenty of candidates (banking,marketing, HR...etc), i will always be able to find someone who's willing to do your job at half the price you are commanding. Hence, many companies restructure to 'get rid' of high earners.

There are many roles out there without aws or other bonus structure so whatever you think you are earning now every month is unimportant because what matters most in the entire salary package and JOB SECURITY. Call me old school, but as a recruiter i have seen pple earning a ridiculous pay cheque for uncomplicated job scope while pple who r talented take home peanuts.

Take the comments here with a pinch of salt. You are lucky with what you have and where u r. There are those who have been jobless for more than a year and refused to take a pay cut.

Honestly well paying jobs are the sales line, if u wan to earn big bucks u have to slog ur ass off. Otherwise, focus on quality of living instead...