Thank you for your insights.

I just want to clarify that at least for me, it's not about the money (I include wining and dining under monetary benefits). Also, this may be surprising to you, but not everyone targets to work in FO.

When I say "prestige" I mean being selected over hundreds of applicants. I want to enter because I don't understand why I keep being rejected. When I put it this way yeah I admit it sounds stupid and egotistical and naive, but it's because I cannot get in that I wonder about the intelligence and competencies of those who are in.

As I said earlier, thank you for your insights. I work in a professional services firm (in the CBD area) and I guess the culture is really completely different.

I work in BO and I will say getting in was the hardest part even though its just a mere support function as some had pointed out. Inside, everyone are just average folk but one thing I notice is that a lot had prior experience jumping from previous banks and there were those who entered through internal referrals or connections. I think that makes it even harder for non-banking folks to go in and I was just an average joe who had changed industries.

For someone being a complete freshie, taking that first step in is the most challenging part.

Personally, it isn't about glam or prestige but whether the organisation is able to provide stability, prospects and growth opportunities. I was upfront about this during my interview. Once you get in the door, its really mostly people skills & hardwork more than a big emphasis on talent.

Haha true, most of these peeps are likely just trying their luck and asking around hoping somehow they will be able to pick up tips & tricks and get into a bank.

Actually I find the most destructive banking myth is not directed at all these people who cannot even get into the bank. At most they will be disappointed short term and most will move on with life after that. The most "suey" one are actually those who make it to BO thinking it's a stepping stone to become a banker.

Many of them join BO not because they really like the job, but rather a misconception that if they just get their foot in and able to network, they can move to become real bankers / traders. So year after year they hop around banks with mediocre pay & bonus always thinking that soon it will be their time to shine. The banks themselves perpetuate this myth because otherwise many will be resigning.

I have 1 ex-course mate who joined Citi BO after leaving school. She was the typical type always thinking that all she needed is some luck to get into FO. So year after year she just stay in the industry doing things she isn't interested at all. Now after 11 years working ridiculous hours with average pay, she complain to me all the time that she wants to leave but feel she is stuck because go outside have to start fresh again.

Don't know why people have this thinking BO folks want to go FO. Not everyone thinks like that. FO big fark meh?

They should already have some realization of the their scope and at least somewhat know the limitations of not being able to hop. Those that work inside and don't know this are deluded.

Hi there,

the 'prestige' you spoke of doesn't really fit into the criteria here. When that poster / or rather in general the folks have been saying, we are not just referring to people wanting to work in FOs. I've talked to some of my juniors who are in their penultimate year and I'm really surprised at their idea of working in a bank.

To them, whether BOs or support functions etc, the 'work experience' that they looked forward to is kind of twisted... Some of them think they'll sit infront of 4 monitors with 2 phone sets with direct dial to other overseas offices across the globe and would be constantly involved in 'challenging' work..

Well.. most of them aren't far off.. the work they'll do would be still challenging - in terms of meeting turnaround time, cut off timings to key in data into the systems and updating database, scanning and uploading pdf copies of documents into the systems, archiving emails or taking instructions from senior managers and key into the systems.

how about MO ? Aiya, its almost the same thing just that you deal with more specialized products. But the foundation is still the same... Of cause a small minority might get into 'thrilling' roles but that's another topic.

You keep getting rejected largely because of the candidate pool that the bank has access to.. Do you have any friends working in HR that has direct access to the number of applicants that they receive whenever they put up a posting externally or on third party job sites? Advertise a general role and look at the overwhelming responses....Esp during graduate season it'll be like a tidal wave crashing into your face.

It is because of the big pool of candidates, HR normally employ screening systems to filter off CVs. And hiring managers can afford to be picky about candidates. Not so much emphasis on 'intelligence' or charismatic like Harvey Specter from Suits (subjective, more applicable to niche roles).

My take is - if you're in a proper job outside of bank now, please leverage on it. If you really wanna change job, you can look at banks but don't expect a bed of roses in here. As much as ppl would like to disagree with me, be it BO, MO or FOs, its just a whole cesspool of *****.

It's just funny.. people working outside of banks thinks that those in banks are 'hip', 'cool', 'has to be earning quite decently'. But most people who are working in banks are just constantly thinking 'when is my compliance leave' , 'what time can i leave office today', 'can't wait to lie on my bed when i get home'. Sure, i may be earning more than my peers and so? Nothing to go gaga about, im still a human being working my ass off everyday.

so a typical bank BO job like for like is higher than other MNCs by how much? one of my friends in the bank say its ~50% higher than other MNCs, but dunno how true.

A lot of people here don't consider the question of which benchmark comparisons are made. OT and sai gang, only banks experience that? Funny how this is being thrown around as one of the reasons to discredit working in one. People today are pampered, a bit of tough life complain already. Then those in audit, law, production shiftwork,construction line how? It's a fallacy to imply a life outside of banking has better worklife balance, which generally isn't the case in a sg context, maybe besides civil service.

Come on lah, I also know fellas slogging out in SMEs with miserable pay, no one mentions them? We are really becoming a strawberry nation.

When you work in FO, you will find that many of them will then complain about stress/long hours/office politics/health blah blah.

Seriously, if you're a corporate rat, just figure out where you fit in the hierarchy and not whine so much.

In the end, all of the Singaporeans are just lackeys of the caucasian overlords in these banks... so gimme a break about 'prestige' and all that garbage.

Banking really sucks.

Work in banks is really comparable to Bangla cutting grass.

People will never appreciate ur work and those who shines are those angmoh who holds senior management position, SVP, etc.

On top of that u are at advantage if u are a lady and u are good looking.

Simple as ABC. U can just spread ur legs for wealthy clients and u can be rich in no time.

Either way or u can just suck their dicks.

Exactly, the SPGs go together with the caucasian bosses. It's a perfect win-win for them.

Anyone else, you lose. It doesn't matter if you are front office, super front office, mid office blah blah. You are just a glorified lackey.

banks including bonus typical pay double compare to other industries, thats why so many people want to get inside.

Temp I will slap you hard.

I deal with large corporate portfolio and this is my usual end work time. Reach home at 10. Though my bonus can Be upwards of 6 mths

But pay / work hours is pretty miserable

Just stating the facts man.

Accept it or u go suck thumb.

do you mind sharing your position (AVP/VP/Director/SVP) and basic salary?

i'm BO in a bank, base salary around $20K monthly (Director level), 15 years experience. is this amount much higher than an equivalent in MNC?

Depends on what mnc & what industry & how title inflation is. Some place 7k+ can already be call director while others $20k is only consider first level of manager.

your mother can suck bangala cock

No news from thread starter? Managed to get a job in the bank already? :D

Hang out at the pubs outside near Raffles Place in a low-cut dress and short skirt. Get a push-up bra and squeeze your mounts as much as possible.

Try to exchange contacts with at least 10 well-dressed men (at least 40 years old) each day. Then tell them about your situation slowly (i.e. after at least a few days of flirting, and a few dates).

After a month, I reckon you should be able to advance to AVP via direct hire.

:eek::eek:

I was expecting an irrelevant wall of text from you...you disappoint me :(

Bloody as ole don't suggest irreverent things and make woman become sluts you want them to be.Your one disrespectful as ole.Your a failure in your own thread and you come here and post ****.I already told you if you want to do law go study a levels and fight for your seat instead of come here and post garbage.

Can't believe this is coming from a teacher who teaches young children.

Haha :D :D

If I were a 26 year old girl I would definitely try that route. While an AVP position would be a bit hard to justify, an analyst position might not be too farfetched an idea.

Dunno which is sadder in this thread.

Some XMM with no idea of what she wants to do other than work in a generic 'bank job' because she thinks its a gateway to a glamorous, devil wears Prada kind of lifestyle. Or a bunch of despo guys making lewd and derogatory comments towards a confused XMM online.

Car dealers report surge in sales after COE prices drop

By Olivia Siong, Channel NewsAsia
07 Feb 2016

In particular, some have seen bookings for larger Category B cars triple as premiums in the category dipped to a six-year low.

SINGAPORE: Car dealers say they have seen a surge in sales since Certificate of Entitlement (COE) prices fell in the last bidding exercise on Wednesday (Feb 3). In particular, some have seen bookings for larger Category B cars triple as premiums in the category dipped to a six-year low.

Toyota agent Borneo Motors had planned to close for Chinese New Year on Saturday, but decided against it amid strong demand from customers. Many were also seen shopping for a good deal when Channel NewsAsia visited the Hyundai and Nissan showrooms.

"I wanted to buy another five years of COE for my car which expires in March," said one Kim Yeo. "But when I heard about the drop, I decided to come down and see if I could get a new car."

Another, Mr Peter Scully said: "The car that we own is reaching its 10-year mark. When you have to buy a car and it's cheaper, it's a bigger motivation. It maybe forces us to want to make a decision faster because it's cheaper."

All three dealerships said they have seen an increase in sales. Hyundai agent Komoco Motors saw overall bookings go up by 50 per cent, while Nissan dealer Tan Chong Motors said overall sales have tripled. Both also recorded three times the number of bookings for larger Category B cars.

In the last exercise, premiums in Category B dipped by 22.9 per cent, falling by more than S$11,000 to S$38,600 - its lowest since July 2010.

That is even lower than Category A premiums for smaller cars, which fell by 9 per cent to S$46,700.

The last COE bidding exercise on Wednesday was the first for the February to April quarter which has more COEs on offer compared to the previous three months. But while COE premiums may be down across the board, industry experts have said that such prices are unsustainable and may see a rebound in subsequent exercises.

That is also why car prices have not fallen in tandem with COEs. Category B car prices have been adjusted downwards by between S$5,000 and $10,000 among dealers we checked with.

"I'm looking at an MPV because we have a growing family," said Ms Eileen Fu. "Now we can get a Cat B car, which has a bigger capacity and engine plus more power. It's a lot better than what we could afford half a year ago, which was a smaller car."

Another buyer, Sharong Ng said: "Cat B has dropped so much, so unless Cat A drops then I will consider Cat A. But for now it seems Cat B is a better deal."

However, there are some car-buyers who are not rushing in just yet.

"For me it's not necessary a Cat B, a small cc is good enough," said a Woo Keng Fie. "If you buy a two-litre car, the consumption is definitely higher and you have to pay more road tax."

Ms Elaine Samboo said she would "wait and see": "I'm keeping my fingers crossed that the COE prices will dip like before, when I only had to pay S$200 for COE. (If that happens,) I might just get my car."

The next COE bidding exercise will be in the third week of February.

If you join dbs, you will be in jurong but you will be in Changi Business Park.

Try being a teller loh. It has a low barrier.

But really?!