How much do you earn with a 3 year experience?

Early 30s.
Earn 100k/yr incl. performance bonus.
Working in finance sector. Holding multiple post grad degrees.

Own commercial and private props. Inheritence.

Hi I am an engineering grad from NTU since 2015. Went to work for an O&G company for 2 years with annual earning $65k before started my MSc full time. I am graduating for my MSc this May. I received a job offer for an internal consultant role in automotive industry, they offered me $52k. Am i underpaid?

Originally Posted by Unregistered

Hi I am an engineering grad from NTU since 2015. Went to work for an O&G company for 2 years with annual earning $65k before started my MSc full time. I am graduating for my MSc this May. I received a job offer for an internal consultant role in automotive industry, they offered me $52k. Am i underpaid?

The pay difference appears to be due to industry. I have a masters as well and also in O&G. My base salary was similar to yours at 2 years mark. Currently I have close to 4 years now, its around 75k.

Originally Posted by Unregistered

The pay difference appears to be due to industry. I have a masters as well and also in O&G. My base salary was similar to yours at 2 years mark. Currently I have close to 4 years now, its around 75k.

4 years experiences earning 75k per annum, it’s pretty good. Are you working with one of the oil majors?

Originally Posted by Unregistered

4 years experiences earning 75k per annum, it’s pretty good. Are you working with one of the oil majors?

Yes I am. I will be due for promotion later this year so will exceed 80k by then.

Originally Posted by Unregistered

The pay difference appears to be due to industry. I have a masters as well and also in O&G. My base salary was similar to yours at 2 years mark. Currently I have close to 4 years now, its around 75k.

Apologies.. It should be around 60k if including bonus, a 5% pay cut essentially. So apparently a master degree & transferable skills that i earned from previous role in the O&G company (a PM related role) doesnt help on the career switching...

Originally Posted by Unregistered

Apologies.. It should be around 60k if including bonus, a 5% pay cut essentially. So apparently a master degree & transferable skills that i earned from previous role in the O&G company (a PM related role) doesnt help on the career switching...

I think you are at an early stage of career for the masters to have any effect. I have had similar issue when I took my masters back then. However I still managed to get an increment and career switch after that.

Any reason why you left the role in O&G? Right now it is hard for me to leave because the next employer has to pay me over 110k for 4 years experience.

Originally Posted by Unregistered

I think you are at an early stage of career for the masters to have any effect. I have had similar issue when I took my masters back then. However I still managed to get an increment and career switch after that.

Any reason why you left the role in O&G? Right now it is hard for me to leave because the next employer has to pay me over 110k for 4 years experience.

I left my job to finish my master full time, no plan to go back O&G so i have this struggle. I believed the pay cut was due to the fact tat i am starting fresh in my new role so i have hit the upper salary range for this position.
Not sure if jump within O&G still work for you as i know some oil manufacturing MNC freeze pay for 3 years straight. Unless you switch out from engineering, those big MNC with great benefits they probably can afford to hire you. One of my ex-colleague switch to technical analyst in JP with no pay cut, and another one to P&G supply chain with 20%++ jump, all with 2 years experience in O&G

Originally Posted by Unregistered

I think you are at an early stage of career for the masters to have any effect. I have had similar issue when I took my masters back then. However I still managed to get an increment and career switch after that.

Any reason why you left the role in O&G? Right now it is hard for me to leave because the next employer has to pay me over 110k for 4 years experience.

I left my job to take my master full time. So far no plan to go back O&G so the struggling. I believed the pay cut was due to the fact tat i am starting fresh in my new role and i have hit the upper salary range of the new position.

I am not sure whether jump within O&G still work for you as i know some oil manufacturing MNC have frozen pay for 3 years straight. Unless you switching out of O&G and to other big MNCs with great benefits, they probably will be able to afford you. I have friends jump to JP as technical analyst with no pay cut, another one jump to P&G with 20%++ pay inc, all with 2 years experiences. Not to mention the semicon company M (this year fresh grad with 1st class honors starting basic pay is 4k). It really depends whether your skill is transferable..

P/S: all me and my friends are not from IT

Local GLC

Start = 2900
Year 1 = 3002
Year 2 = 3108
Year 3(inclusive promotion) = 3342

Annual salary inclusive AWS = 53472