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Unregistered 16-06-2015 12:22 PM

Quote:

Originally Posted by Unregistered (Post 68337)
Anyway, part of the reason why Banking and O&G companies pay high salaries is because they are volatile/cyclical industries, and are more prone to laying off people. This phenomenon is obvious in banking - just look at HSBC, Goldman, RBC, MacQ, etc. This is happening in O&G too, ever since the prices of oil fell significantly over the past year. Furthermore, Big oil's profit is suffering, which would also lead to lower bonuses. The era of high-oil prices, as according to many oil analysts and Big Oil CEOs, seem to have ended. This is a very significant issue since the base salaries in the O&G industry is quite similar to the rest of the industries, with the high bonuses contributing to the high overall salary package in the O&G industry.

Actually broad painting oil & gas industry is not doable. O&G has a far more diversified profile & culture between companies compared to banks which tend to be more homogenous, i.e. times are bad all cut headcount together, times are good all pay big bonus together. Basic salary also more or less at same level.

For e.g. if you look at the big oil, all very different profile:

1) Exxon - Forever firing people at the low end of the performance curve regardless of company or industry situation. Generally high basic & big fixed bonus. Good thing is if you are strong performer, they don't give 2 hoots about what low oil price, increment & bonus continue business as usual. Bad thing is if you can't meet the curve, you can lose your job even if oil price is at $200.

2) Shell - Tends to pay high basic salary & bonus regardless of industry situation. Paid out massive bonus this year even as prices are falling. Because of this very low turnover as nobody want to leave, but also makes it very hard for mid career to join as little opening.

3) Chevron - Tends to react to industry conditions more compared to the other 2 bigger rivals, i.e. will cut & increase bonus & pay if needed. But still very mild compared to most banks. Likes to boast of having best benefit among big oil and never cutting them no matter what crisis.

4) Total - Very European culture, much smaller basic pay & bonus compared to the rest, but stability is almost like civil service. Job security maybe the highest in the industry, extremely low turnover.

5) Conoco - Flexible culture like most banks. Volatile in terms of pay & bonus and also job security, but in good years sometimes their package can be even better than bigger rivals.

6) BP - In a very bad shape now, more like in survival mode. Massive chopping headcount, cut pay & benefits, cost cutting everywhere in order to survive the downturn. Turnover very high like revolving door.

Unregistered 16-06-2015 01:40 PM

Quote:

Originally Posted by Unregistered (Post 68363)
Actually broad painting oil & gas industry is not doable. O&G has a far more diversified profile & culture between companies compared to banks which tend to be more homogenous, i.e. times are bad all cut headcount together, times are good all pay big bonus together. Basic salary also more or less at same level.

For e.g. if you look at the big oil, all very different profile:

1) Exxon - Forever firing people at the low end of the performance curve regardless of company or industry situation. Generally high basic & big fixed bonus. Good thing is if you are strong performer, they don't give 2 hoots about what low oil price, increment & bonus continue business as usual. Bad thing is if you can't meet the curve, you can lose your job even if oil price is at $200.

2) Shell - Tends to pay high basic salary & bonus regardless of industry situation. Paid out massive bonus this year even as prices are falling. Because of this very low turnover as nobody want to leave, but also makes it very hard for mid career to join as little opening.

3) Chevron - Tends to react to industry conditions more compared to the other 2 bigger rivals, i.e. will cut & increase bonus & pay if needed. But still very mild compared to most banks. Likes to boast of having best benefit among big oil and never cutting them no matter what crisis.

4) Total - Very European culture, much smaller basic pay & bonus compared to the rest, but stability is almost like civil service. Job security maybe the highest in the industry, extremely low turnover.

5) Conoco - Flexible culture like most banks. Volatile in terms of pay & bonus and also job security, but in good years sometimes their package can be even better than bigger rivals.

6) BP - In a very bad shape now, more like in survival mode. Massive chopping headcount, cut pay & benefits, cost cutting everywhere in order to survive the downturn. Turnover very high like revolving door.

Talking to yourself again?????

Yesterday try to act like mr know it all in the banking industry today change to oil & gas expert. Cannot make it inside IB then work harder, don't try to smoke like you know everything. Also if given offer in IB & O&G at the same time, any grad with half a brain will join IB. Dun try & talk down just because you cmi

Unregistered 16-06-2015 02:57 PM

Why would I need to do that?

I think you're paranoid. I am not an expert in oil and gas so that's definitely NOT from me. Especially since it's not my industry. But I know enough not to list shell as a company which pays "high basic salary". After all, their graduate scheme only pays graduates 3.4k.

I guess you must be one of the loserish, insecure type who is super envious of others doing well or knowing more. What a clown.

Unregistered 16-06-2015 03:06 PM

Quote:

Originally Posted by Unregistered (Post 68373)
Also if given offer in IB & O&G at the same time, any grad with half a brain will join IB. Dun try & talk down just because you cmi

Why is that the case?

And see the funny thing is, I wasn't even talking down to anyone. I have already stated quite clearly that some people don't apply to banks. For some reason or another, it's not their cup of tea. So it's self selection at play. But you can't seem to wrestle around this simple logic and see it as IB vs O&G (or some other industry). How dull are you?

But anyway, from your remarks, I know you're most certainly not working in FO banking. Because you don't know how taxing it is, and how it isn't a preferred lifestyle choice for many. Why do you assume everyone wants to join? Maybe some can't take it? Maybe some don't want to? I am speaking on a neutral front here as someone who has gone through the grind.

Unlike you, I don't simply parrot off what other people say. You might wish to sell yourself for $$$ but others might not, does that answer your question?

And for the record, I don't have to work in BB FO to be somebody. Please lah, there are elite boutiques like Lazard and Blackstone which are much more favorable. Don't speak as though you're an insider-- you sound so daft hahahah

Unregistered 16-06-2015 03:30 PM

Quote:

Originally Posted by Unregistered (Post 68363)
Actually broad painting oil & gas industry is not doable. O&G has a far more diversified profile & culture between companies compared to banks which tend to be more homogenous, i.e. times are bad all cut headcount together, times are good all pay big bonus together. Basic salary also more or less at same level.

For e.g. if you look at the big oil, all very different profile:

1) Exxon - Forever firing people at the low end of the performance curve regardless of company or industry situation. Generally high basic & big fixed bonus. Good thing is if you are strong performer, they don't give 2 hoots about what low oil price, increment & bonus continue business as usual. Bad thing is if you can't meet the curve, you can lose your job even if oil price is at $200.

2) Shell - Tends to pay high basic salary & bonus regardless of industry situation. Paid out massive bonus this year even as prices are falling. Because of this very low turnover as nobody want to leave, but also makes it very hard for mid career to join as little opening.

3) Chevron - Tends to react to industry conditions more compared to the other 2 bigger rivals, i.e. will cut & increase bonus & pay if needed. But still very mild compared to most banks. Likes to boast of having best benefit among big oil and never cutting them no matter what crisis.

4) Total - Very European culture, much smaller basic pay & bonus compared to the rest, but stability is almost like civil service. Job security maybe the highest in the industry, extremely low turnover.

5) Conoco - Flexible culture like most banks. Volatile in terms of pay & bonus and also job security, but in good years sometimes their package can be even better than bigger rivals.

6) BP - In a very bad shape now, more like in survival mode. Massive chopping headcount, cut pay & benefits, cost cutting everywhere in order to survive the downturn. Turnover very high like revolving door.

Hey, regardless of whether they are 100% accurate, I believe that they are somewhat true. Thanks for your insight.

I was just curious about how high, really, are the salaries in O&G. Let's take the top 2 Majors for reference.

Exxon: I believe that the overall package is 12mths + 3mths (fixed), with no AWS. Starting is ~$3.8k/mth basic; increment for the first 3 years is between 4-8%. The average guy would probably plateau at 10k-15k/mth.

Shell: I believe that the overall package is 12mths + Bonus (highly variable, usually between 4 months to 18 months). Starting is ~$3.4k/mth basic (no NS), or ~$3.6k/mth basic (with NS); increment for the first 3 years is really high, like almost 20% per year. The average guy would probably plateau at 11k-15k/mth.

Could someone confirm if I've got the above figures right?

If they're right, it seems like civil service pays pretty good in comparison. The bonus in civil service could easily match up, or be even better, than Exxon (although not as high as in Shell). The base is high too. Starting is ~$4k/mth. With someone that calibre, his/her pay would probably plateau at 12k-15k/mth. Con someone affirm/rebut this? I've got a feeling that I'm missing an equation somewhere..

Unregistered 16-06-2015 05:01 PM

Quote:

Originally Posted by Unregistered (Post 68388)
Hey, regardless of whether they are 100% accurate, I believe that they are somewhat true. Thanks for your insight.

I was just curious about how high, really, are the salaries in O&G. Let's take the top 2 Majors for reference.

Exxon: I believe that the overall package is 12mths + 3mths (fixed), with no AWS. Starting is ~$3.8k/mth basic; increment for the first 3 years is between 4-8%. The average guy would probably plateau at 10k-15k/mth.

Shell: I believe that the overall package is 12mths + Bonus (highly variable, usually between 4 months to 18 months). Starting is ~$3.4k/mth basic (no NS), or ~$3.6k/mth basic (with NS); increment for the first 3 years is really high, like almost 20% per year. The average guy would probably plateau at 11k-15k/mth.

Could someone confirm if I've got the above figures right?

If they're right, it seems like civil service pays pretty good in comparison. The bonus in civil service could easily match up, or be even better, than Exxon (although not as high as in Shell). The base is high too. Starting is ~$4k/mth. With someone that calibre, his/her pay would probably plateau at 12k-15k/mth. Con someone affirm/rebut this? I've got a feeling that I'm missing an equation somewhere..

Hi, too many unregistered posters here. Can I clarify that you are the same poster who provided the IB FO names earlier?

If we are talking about Exxon and Shell one thing you have to understand is that these 2 supermajors put more emphasis on career progression rather than starting salary or bonus. Also just like banking, the treatment between hot jobs like trading & upstream (think of them as FO equivalent) is very different from the other jobs which are like your MO & BO.

Their starting salaries are not fantastic high and their bonus while still much higher than others isn't exactly top of the top either. What they excel in is the no. of opportunities given to top talent and the ability of top talents to move up in speed that rivals the banking industry. There is no way a normal non AO civil servant can come remotely close in terms of career progression.

For eg. take Shell (since they have a more structured program), you said there was a NUS valedictorian who joined them. Chances are he was recruited as a graduate trainee at <4k which sounds correct. Assuming he wasn't going in as one of those "FO" jobs if you add in all the other stuff like allowance, aws & bonus maybe he gets 70k+, higher than your typical freshie but not fantastic.

But what is interesting is what happens after that. Essentially if the guy doesn't screw up, he can expect to roughly double his pay within 3 years of the program. So we are talking 140k for 3 year's work, not bad. But the fun is just starting, as a grad he would automatically be given a high CEP status a.k.a the equivalent of real scholars in civil service.

What this means is that his chances of getting promotion & expatriation is very high. As you probably know, getting an expatriation automatically means you live like some king with all expenses paid for your whole family plus a whole lot of beanies & allowances which has the effect of more than doubling your pay.

Besides expatriation, generally from what I observe these high CEP people usually get promoted once every 2-3 years. Each promotion is an increase in salary, allowance, bonus, stocks. Assuming your valedictorian friend can continue this trajectory, even without the need for expatriation or switch to the "FO", he should be able to get at least 300k+ within 10 years. This just for a MO/BO job which is probably on par I guess with many good banks?

Exxon is harder to predict because they do not have a very structured program and progression is much more individualistic. I have seen people who get thrown out after a few years because of stress or poor performance, I have also seen people who move up faster than Shell breaking the $500k barrier in their late 30s (again normal jobs, not talking about trading or drillers)

Exxon operates a leadership analysis system as well, but it is much more brutal in the sense that it's a yes or no thing. If it's a no, work hard and no slacking - be prepared to end your career as a local manager (think they call it L28 or 29 which is not bad, roughly the equivalent of MX9 in civil service).

If yes then again things go crazy, lots of promotion opportunities, globe trotting and huge investments in your personal development. Between the 2, I would say Exxon is stronger on the upside and Shell is stronger on average.

As for "FO" jobs in this industry, their packages fall broadly into 2 kinds. Those on the trading related side generally have basics that are 30-40% higher than the rest and uncapped bonus. Bonus quantum vary depending on individual, but I would say based on my exp, about on par with the trading desks from BB.

As for the drilling side, they also generally have higher pay & bonus than the rest, but bonus wise is lower than the trading side. But what they have instead is expatriation benefits all the time as the nature of their work means they are unlikely to be based in Singapore even if they were recruited here.

I have an acquaintance from big oil who has been mostly working abroad ever since he left school, he recently decided to retire at before 50 because with all expenses paid by the co. throughout his life. he was smart enough to plow all his salary & bonus to buying many properties in Singapore.

Unregistered 16-06-2015 06:55 PM

dun get emo still dun admit lah, if really dun care still keep coming here write story & pretend to talk to yourself. cannot get in fo come here bs like some banking expert. google a few ib names then act like you really know them but provide no details. standard reply is to tell others to contact them directly. haha very convenient.

Quote:

Originally Posted by Unregistered (Post 68386)
Why is that the case?

And see the funny thing is, I wasn't even talking down to anyone. I have already stated quite clearly that some people don't apply to banks. For some reason or another, it's not their cup of tea. So it's self selection at play. But you can't seem to wrestle around this simple logic and see it as IB vs O&G (or some other industry). How dull are you?

But anyway, from your remarks, I know you're most certainly not working in FO banking. Because you don't know how taxing it is, and how it isn't a preferred lifestyle choice for many. Why do you assume everyone wants to join? Maybe some can't take it? Maybe some don't want to? I am speaking on a neutral front here as someone who has gone through the grind.

Unlike you, I don't simply parrot off what other people say. You might wish to sell yourself for $$$ but others might not, does that answer your question?

And for the record, I don't have to work in BB FO to be somebody. Please lah, there are elite boutiques like Lazard and Blackstone which are much more favorable. Don't speak as though you're an insider-- you sound so daft hahahah


Unregistered 16-06-2015 07:00 PM

Quote:

Originally Posted by Unregistered (Post 68403)
dun get emo still dun admit lah, if really dun care still keep coming here write story & pretend to talk to yourself. cannot get in fo come here bs like some banking expert. google a few ib names then act like you really know them but provide no details. standard reply is to tell others to contact them directly. haha very convenient.

You must be from SIM. Enough said.

Unregistered 16-06-2015 07:05 PM

Quote:

Originally Posted by Unregistered (Post 68396)
Hi, too many unregistered posters here. Can I clarify that you are the same poster who provided the IB FO names earlier?

I have an acquaintance from big oil who has been mostly working abroad ever since he left school, he recently decided to retire at before 50 because with all expenses paid by the co. throughout his life. he was smart enough to plow all his salary & bonus to buying many properties in Singapore.

Different guy here.

I don't understand why you refer to everything in dollars and cents.

What if I simply like to work in oil and gas and not banking?

Unregistered 16-06-2015 08:51 PM

Quote:

Originally Posted by Unregistered (Post 68406)
You must be from SIM. Enough said.

Lol, that is devilishly funny! It's like being from SIM is the ultimate insult.

Unregistered 16-06-2015 10:11 PM

Yeah, confirmed is SIM type.

The talk big yaya papaya, don't know anything about the world. So typically SIM hahahahhaha.

Unregistered 17-06-2015 12:43 AM

Quote:

Originally Posted by Unregistered (Post 68396)
Hi, too many unregistered posters here. Can I clarify that you are the same poster who provided the IB FO names earlier?

If we are talking about Exxon and Shell one thing you have to understand is that these 2 supermajors put more emphasis on career progression rather than starting salary or bonus. Also just like banking, the treatment between hot jobs like trading & upstream (think of them as FO equivalent) is very different from the other jobs which are like your MO & BO.

Their starting salaries are not fantastic high and their bonus while still much higher than others isn't exactly top of the top either. What they excel in is the no. of opportunities given to top talent and the ability of top talents to move up in speed that rivals the banking industry. There is no way a normal non AO civil servant can come remotely close in terms of career progression.

For eg. take Shell (since they have a more structured program), you said there was a NUS valedictorian who joined them. Chances are he was recruited as a graduate trainee at <4k which sounds correct. Assuming he wasn't going in as one of those "FO" jobs if you add in all the other stuff like allowance, aws & bonus maybe he gets 70k+, higher than your typical freshie but not fantastic.

But what is interesting is what happens after that. Essentially if the guy doesn't screw up, he can expect to roughly double his pay within 3 years of the program. So we are talking 140k for 3 year's work, not bad. But the fun is just starting, as a grad he would automatically be given a high CEP status a.k.a the equivalent of real scholars in civil service.

What this means is that his chances of getting promotion & expatriation is very high. As you probably know, getting an expatriation automatically means you live like some king with all expenses paid for your whole family plus a whole lot of beanies & allowances which has the effect of more than doubling your pay.

Besides expatriation, generally from what I observe these high CEP people usually get promoted once every 2-3 years. Each promotion is an increase in salary, allowance, bonus, stocks. Assuming your valedictorian friend can continue this trajectory, even without the need for expatriation or switch to the "FO", he should be able to get at least 300k+ within 10 years. This just for a MO/BO job which is probably on par I guess with many good banks?

Exxon is harder to predict because they do not have a very structured program and progression is much more individualistic. I have seen people who get thrown out after a few years because of stress or poor performance, I have also seen people who move up faster than Shell breaking the $500k barrier in their late 30s (again normal jobs, not talking about trading or drillers)

Exxon operates a leadership analysis system as well, but it is much more brutal in the sense that it's a yes or no thing. If it's a no, work hard and no slacking - be prepared to end your career as a local manager (think they call it L28 or 29 which is not bad, roughly the equivalent of MX9 in civil service).

If yes then again things go crazy, lots of promotion opportunities, globe trotting and huge investments in your personal development. Between the 2, I would say Exxon is stronger on the upside and Shell is stronger on average.

As for "FO" jobs in this industry, their packages fall broadly into 2 kinds. Those on the trading related side generally have basics that are 30-40% higher than the rest and uncapped bonus. Bonus quantum vary depending on individual, but I would say based on my exp, about on par with the trading desks from BB.

As for the drilling side, they also generally have higher pay & bonus than the rest, but bonus wise is lower than the trading side. But what they have instead is expatriation benefits all the time as the nature of their work means they are unlikely to be based in Singapore even if they were recruited here.

I have an acquaintance from big oil who has been mostly working abroad ever since he left school, he recently decided to retire at before 50 because with all expenses paid by the co. throughout his life. he was smart enough to plow all his salary & bonus to buying many properties in Singapore.

Hi, I'm the original poster that you quoted. Thanks for your reply to my comment. Btw, I'm a different poster from the one who provided the IB FO names earlier.

But I must say, wow. I didn't expect the overall package to be that high. And 300k+ after 10 years, not to mention breaking the 500k barrier, is almost unimaginable to me for a salaried individual in Singapore. Thanks for the insight.

Unregistered 17-06-2015 10:56 AM

Quote:

Originally Posted by Unregistered (Post 68444)
Hi, I'm the original poster that you quoted. Thanks for your reply to my comment. Btw, I'm a different poster from the one who provided the IB FO names earlier.

But I must say, wow. I didn't expect the overall package to be that high. And 300k+ after 10 years, not to mention breaking the 500k barrier, is almost unimaginable to me for a salaried individual in Singapore. Thanks for the insight.

Yea but to put into context we are talking about high potentials who work in the 2 biggest oil company in the world. General mid career hires are of course more normal and not that great. Still I see a lot of normal PMEs there can easily exceed 100 or even 200k, but anything above 300k starts to get pretty rare.

Unregistered 04-07-2015 09:48 PM

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Unregistered 05-07-2015 05:08 AM

I used to work in one of the oil majors mentioned in the trading function.

Yes, basic is higher and bonuses are good, but times have changed. There were some org restructuring and the result has been a pressure to be more equitable to all employees, not just to trading. Consequently, some have left out of frustration.

It is true that expatriation yields a lot of benefits. At times, it can be close to doubling your pay if you have a property to rent out back home.

As well, the high packages mentioned in the oil cos are possibly true, but only applies to hi-po employees who have reached a v senior lvl. A local senior fella getting sgd$200K+ is already considered good. Hitting 500K will be likely a v senior regional/global role. We are talking about basic only of course. On the average, if you are mediocre, you can still live comfortably, but do not expect such high packages.

Unregistered 05-07-2015 02:28 PM

Quote:

Originally Posted by Unregistered (Post 69453)
I used to work in one of the oil majors mentioned in the trading function.

Yes, basic is higher and bonuses are good, but times have changed. There were some org restructuring and the result has been a pressure to be more equitable to all employees, not just to trading. Consequently, some have left out of frustration.

It is true that expatriation yields a lot of benefits. At times, it can be close to doubling your pay if you have a property to rent out back home.

As well, the high packages mentioned in the oil cos are possibly true, but only applies to hi-po employees who have reached a v senior lvl. A local senior fella getting sgd$200K+ is already considered good. Hitting 500K will be likely a v senior regional/global role. We are talking about basic only of course. On the average, if you are mediocre, you can still live comfortably, but do not expect such high packages.

You from BP? I understand the whole place is in trouble and they are restructuring big time in an effort to stay afloat.

As far as I know none of the other major energy trading houses have changed their salary structure to more equal to the rest of the staff. Don't seem to make sense if you ask me.

Unregistered 05-07-2015 09:36 PM

I work in an oil major, so I hope I can help provide some insights since I see some healthy discussions about O&G here.

Not everyone working in O&G industry will be drawing obscenely high salary. The bulk of the employees will retire with a last drawn salary of ~$150-200k/year as a mid level manager (based on the company I work in and not referring to the technician roles). I think that's more than sufficient to live a good life in Singapore. There will be a small handful (around 5% of the population) who are deemed to have higher capacity and will end up with more senior roles (department managers for huge manufacturing sites; regional managers etc). These people end their career drawing ~$3-400k/year. There is this other special group of people (<1%) who are over achievers and they are promoted to senior roles early in their career and eventually end up as senior executive leaders (general managers of manufacturing sites, product lines, VPs, directors and what nots etc). I do not know their remuneration packages but it is definitely some heavenly figures.

So no, O&G starting salaries are not as fantastic as some of the banking jobs that are described in this thread but the potential to rival some of the best banking jobs is there if you are a high flyer. Even if you aren't a high flyer, you would still live a comfortable life in Singapore. I do not think there is such a big difference in life style between someone earning $200k/year and $300k/year. At the end of the day, we should just be happy doing what we are doing (be it banking or other industries).

Unregistered 05-07-2015 11:01 PM

Quote:

Originally Posted by Unregistered (Post 69484)
I work in an oil major, so I hope I can help provide some insights since I see some healthy discussions about O&G here.

Not everyone working in O&G industry will be drawing obscenely high salary. The bulk of the employees will retire with a last drawn salary of ~$150-200k/year as a mid level manager (based on the company I work in and not referring to the technician roles). I think that's more than sufficient to live a good life in Singapore. There will be a small handful (around 5% of the population) who are deemed to have higher capacity and will end up with more senior roles (department managers for huge manufacturing sites; regional managers etc). These people end their career drawing ~$3-400k/year. There is this other special group of people (<1%) who are over achievers and they are promoted to senior roles early in their career and eventually end up as senior executive leaders (general managers of manufacturing sites, product lines, VPs, directors and what nots etc). I do not know their remuneration packages but it is definitely some heavenly figures.

So no, O&G starting salaries are not as fantastic as some of the banking jobs that are described in this thread but the potential to rival some of the best banking jobs is there if you are a high flyer. Even if you aren't a high flyer, you would still live a comfortable life in Singapore. I do not think there is such a big difference in life style between someone earning $200k/year and $300k/year. At the end of the day, we should just be happy doing what we are doing (be it banking or other industries).

O&G the highest paid jobs are traders & offshore exploration engineers. You basically went through everything except these 2 jobs. That's like going through the entire banking jobs except for the investment FO & trading side. You have to compare like for like, not normal jobs in O&G vs top jobs in banking.

Secondly I think the fact that you even refer to the bulk of normal employees being able to retire at 200k salary a year so nonchalantly maciam like it's an everyday occurrence just goes to show how out of whack some of the people in O&G industry are.

I am very interested to know except for O&G and banking which other industry out there can claim that most people will retire at 150-200k. In some low margin industries like manufacturing, hospitality, retail etc. most people don't even hit 100k when they retire.

Unregistered 05-07-2015 11:40 PM

I work in a local blue chip co and looking at those colleagues about to retire at >50 years old, hard to imagine most of them are now drawing ~$150-200k/year as a mid level manager. Even the minority that reach Director level also not all will draw 200k. O&G must be really good, if I can just get in I really wont mind being a mediocre staff if they can let me retire with 200k salary.

Unregistered 06-07-2015 09:10 AM

Quote:

Originally Posted by Unregistered (Post 69494)
I work in a local blue chip co and looking at those colleagues about to retire at >50 years old, hard to imagine most of them are now drawing ~$150-200k/year as a mid level manager. Even the minority that reach Director level also not all will draw 200k. O&G must be really good, if I can just get in I really wont mind being a mediocre staff if they can let me retire with 200k salary.

i dunno abt big oil, but use to be from FELS and i can guarantee you over there confirm it is rare for pp to retire at so high. maybe the very good performers yar, but bulk of the rest... hahaha

Unregistered 06-07-2015 09:17 AM

Quote:

Originally Posted by Unregistered (Post 69506)
i dunno abt big oil, but use to be from FELS and i can guarantee you over there confirm it is rare for pp to retire at so high. maybe the very good performers yar, but bulk of the rest... hahaha

I work as a tax advisor and Im employed by a lot of the big firms to do expatriates tax packages. and I can tell you there are only prob 5-10 locals who manage to get what was described in O&G. most of the guys our team handles are incoming whites from overseas, in a year, we prob get maybe 1? local who goes overseas.

based on the cases our team has seen (and we are one of the largest firms doing this), I can tell you that for a local to get 500K and a job overseas, erm, its a dream

Unregistered 06-07-2015 09:33 AM

Quote:

Originally Posted by Unregistered (Post 69507)
I work as a tax advisor and Im employed by a lot of the big firms to do expatriates tax packages. and I can tell you there are only prob 5-10 locals who manage to get what was described in O&G. most of the guys our team handles are incoming whites from overseas, in a year, we prob get maybe 1? local who goes overseas.

based on the cases our team has seen (and we are one of the largest firms doing this), I can tell you that for a local to get 500K and a job overseas, erm, its a dream

thanks for the insights!

from ur exp can confirm for big oil is it like what the poster above say? bulk of average performing employees will get 150-200k salary if stay long enough? currently interviewing with 1 big oil and the location a bit far. i am drawing 60k+ with 10 years relevant exp, but if career prospect that good, i might give it a go. i

Unregistered 06-07-2015 10:17 AM

some of you here are really frog in the well... most working in banking industry can reach above 200k in just 8-10 years easily.

Unregistered 06-07-2015 10:57 AM

Quote:

Originally Posted by Unregistered (Post 69510)
thanks for the insights!

from ur exp can confirm for big oil is it like what the poster above say? bulk of average performing employees will get 150-200k salary if stay long enough? currently interviewing with 1 big oil and the location a bit far. i am drawing 60k+ with 10 years relevant exp, but if career prospect that good, i might give it a go. i

we don't tax plan for locals. eg. you will not hire me to do your tax planning. essentially you are probably not even paying much taxes.

companies only engage us when they have in coming or out going personnel - and we don't get many out going locals, hence, I cant comment on what they are drawing.

though I must say, 60k P.A. for 10yr work experience is on the very low side if you are an executive with a degree from a local uni.

Unregistered 06-07-2015 12:26 PM

Quote:

Originally Posted by Unregistered (Post 69515)
we don't tax plan for locals. eg. you will not hire me to do your tax planning. essentially you are probably not even paying much taxes.

companies only engage us when they have in coming or out going personnel - and we don't get many out going locals, hence, I cant comment on what they are drawing.

though I must say, 60k P.A. for 10yr work experience is on the very low side if you are an executive with a degree from a local uni.

hihi,
when u quote annual package does it include aws and/or variable bonus?
appreciate it

Unregistered 06-07-2015 01:21 PM

How much do you guys think someone who is a principal at a big PE firm (Apollo, KKR, Blackstone etc) in SG is getting annually? (base pay + Bonus etc)

really curious how much our overlords are earning.

Unregistered 06-07-2015 02:12 PM

Quote:

Originally Posted by Unregistered (Post 69525)
hihi,
when u quote annual package does it include aws and/or variable bonus?
appreciate it

all in, usually no variable. that's hard to predict

Unregistered 06-07-2015 06:41 PM

Quote:

Originally Posted by Unregistered (Post 69530)
How much do you guys think someone who is a principal at a big PE firm (Apollo, KKR, Blackstone etc) in SG is getting annually? (base pay + Bonus etc)

really curious how much our overlords are earning.

Not that much, PE in Singapore is too small.

Unregistered 06-07-2015 07:06 PM

Quote:

Originally Posted by Unregistered (Post 69539)
Not that much, PE in Singapore is too small.

Hi, sorry what do you mean by not that much?

You know that those guys usually come from IB right? they probably wouldn't settle for lesser pay correct?

Unregistered 07-07-2015 10:14 AM

I am not stupid, yes, they usually come from IB but PE doesn't always pay better.

It only pays better if 1. The industry is doing well and 2. You are in the right team.

In Singapore, IB typically pays better than PE because there are few, if any, major deals for PE firms. If you don't believe, go ask your FO friends.

Unregistered 07-07-2015 11:10 AM

Quote:

Originally Posted by Unregistered (Post 69530)
How much do you guys think someone who is a principal at a big PE firm (Apollo, KKR, Blackstone etc) in SG is getting annually? (base pay + Bonus etc)

really curious how much our overlords are earning.

In terms of basic is about the same. A principal in a mid size PE firm would be drawing around 300-500k basic depending on the individual.

But generally PE bonus tend to be much more erratic than IB. In PE there will be dry years where bonuses will be mediocre at 6-10 months. The catch is that if you are the principal that is in charge of a certain gestation investment which leads to a good trade sale or IPO, the carried interest and co-investment payouts can run into multi million dollars in payouts.

Unregistered 09-08-2017 12:43 PM

Any idea what's the typical annual bonus for BO in the three local banks?

Unregistered 09-08-2017 04:06 PM

Quote:

Originally Posted by Unregistered (Post 99367)
Any idea what's the typical annual bonus for BO in the three local banks?

Usually ~6 months for an average performer, but their base is lower.

Unregistered 10-08-2017 01:38 PM

Quote:

Originally Posted by Unregistered (Post 99373)
Usually ~6 months for an average performer, but their base is lower.

I don't think is ~6 months. That is too much. Average is 2-3 months.

Unregistered 02-05-2021 01:05 PM

Julius Baer ED/MD Total Compensation
 
“Justice Vinodh estimated that Mr Pollmann, taking an average bonus of 35 per cent a year, would have earned around $658,000 annually for the next 14 years.”

From ST:

Mr Christian Joachim Pollmann, 45, who was the executive director of Swiss bank Julius Baer, was so seriously injured that his speech is now severely impaired, he has to depend on a live-in caregiver, and will probably never work again.

Justice Vinodh believed Mr Pollmann, who is living in Singapore, would have been promoted to managing director senior adviser last year had the accident not happened.

Justice Vinodh estimated that Mr Pollmann, taking an average bonus of 35 per cent a year, would have earned around $658,000 annually for the next 14 years.

Breakdown of award

Loss of future income
$9,325,541

s://.straitstimes.com/singapore/136m-payout-for-cyclist-hurt-in-road-accident

Unregistered 02-05-2021 09:48 PM

Quote:

Originally Posted by Unregistered (Post 167351)
“Justice Vinodh estimated that Mr Pollmann, taking an average bonus of 35 per cent a year, would have earned around $658,000 annually for the next 14 years.”

From ST:

Mr Christian Joachim Pollmann, 45, who was the executive director of Swiss bank Julius Baer, was so seriously injured that his speech is now severely impaired, he has to depend on a live-in caregiver, and will probably never work again.

Justice Vinodh believed Mr Pollmann, who is living in Singapore, would have been promoted to managing director senior adviser last year had the accident not happened.

Justice Vinodh estimated that Mr Pollmann, taking an average bonus of 35 per cent a year, would have earned around $658,000 annually for the next 14 years.

Breakdown of award

Loss of future income
$9,325,541

s://.straitstimes.com/singapore/136m-payout-for-cyclist-hurt-in-road-accident

You know managing director is a very high profile role. There are only a few managing directors within the bank and most folks wont make it to managing director. Probably there are only a handful MDs within Singapore branch itself. You can count them by hands.

It is equivalent to VP (one level below CXO) at MNC. While VP at Bank is equivalent to Manager at MNC. You know right the difference between VP and Manager?. Manager pay can only be 1/3 or 1/4 of what VP is getting. This is also the case for banks. Hence dont compare MD salary with normal folks. Even if you are from Ivy Leagues, chances of becoming MD is very slim.

Unregistered 03-05-2021 06:09 PM

what is the typical salary for a "manager" level with 5 years of experience in related field in BO local bank?
Recently got an offer at 5.5k, does it make sense?

SO > mgr > avp > vp

Unregistered 03-05-2021 06:32 PM

Quote:

Originally Posted by Unregistered (Post 167452)
what is the typical salary for a "manager" level with 5 years of experience in related field in BO local bank?
Recently got an offer at 5.5k, does it make sense?

SO > mgr > avp > vp

Which function and do you have a degree? Jumping from local to local?

Unregistered 03-05-2021 06:52 PM

Quote:

Originally Posted by Unregistered (Post 167452)
what is the typical salary for a "manager" level with 5 years of experience in related field in BO local bank?
Recently got an offer at 5.5k, does it make sense?

SO > mgr > avp > vp

It would be more accurate to compare total package as local banks have more bonus despite lower basic. What’s the number of months of bonus?

Unregistered 03-05-2021 07:00 PM

Quote:

Originally Posted by Unregistered (Post 167452)
what is the typical salary for a "manager" level with 5 years of experience in related field in BO local bank?
Recently got an offer at 5.5k, does it make sense?

SO > mgr > avp > vp

im currently at one of the local banks at avp rank with 5 years exp, earning 5.9k pm. im pretty sure i'm an underpaid avp. so 5.5k for a manager rank sounds fair.


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