pay for contract jobs - Page 2 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




pay for contract jobs

Reply
 
Thread Tools
  #11 (permalink)  
Old 19-11-2016, 09:13 PM
Unregistered
Guest
 
Posts: n/a
Default

I would think that a contract job at a top bank like JPM or ubs would be more desirable than a perm at dbs? After all the market recently is more active with contracts and increasingly firms start to accept that contracts are part of the in thing now. Also wouldn't the name of the top bank add weight to the resume plus there is a chance of becoming perm which is eorth the risk. Am I correct to say this?

Reply With Quote
  #12 (permalink)  
Old 19-11-2016, 09:47 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I would think that a contract job at a top bank like JPM or ubs would be more desirable than a perm at dbs? After all the market recently is more active with contracts and increasingly firms start to accept that contracts are part of the in thing now. Also wouldn't the name of the top bank add weight to the resume plus there is a chance of becoming perm which is eorth the risk. Am I correct to say this?
I am quite sure some will think this way. Think about why there are many contracts and why banks want to hire contracts. I think you should compare perm roles across banks and not contracts vs perm.

Reply With Quote
  #13 (permalink)  
Old 19-11-2016, 10:44 PM
Unregistered
Guest
 
Posts: n/a
Default

The more important thing is to understand your own situation. If you just started to apply for jobs 1 week ago and this happens to be the first interview and offer then you can just reject the offer. If you have been looking for a job for a few months and so far very little interviews and just this 1 offer, contract or not it is still better to accept and get some experience and money first.

The thing for fresh grads is the longer you drag on unemployed, the harder it is to get another job in the future. Most companies don't shortlist people who are unemployed for too long because in a weak economy, they are spoilt for choices.

Reply With Quote
  #14 (permalink)  
Old 20-11-2016, 12:06 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I would think that a contract job at a top bank like JPM or ubs would be more desirable than a perm at dbs? After all the market recently is more active with contracts and increasingly firms start to accept that contracts are part of the in thing now. Also wouldn't the name of the top bank add weight to the resume plus there is a chance of becoming perm which is eorth the risk. Am I correct to say this?
After working in 3 banks over past 5 years I guarantee you this is not the case. When you are a contractor, nobody really cares which bank you are posted to. A perm staff from DBS can at least develop his career within DBS, a contractor posted to JPM is just deployed there for a specific narrow work and every 6-12 mths need to see if the bank is willing to renew with the contract agency.
Reply With Quote
  #15 (permalink)  
Old 20-11-2016, 09:07 AM
Unregistered
Guest
 
Posts: n/a
Default

What is an acceptable salary guide for contracts? I have an offer of 2800 and I think it is quite low comparing with some other peers in contract jobs at other banks (3k+). The agent told me that the employer has decided to offer me the job though the contract has not been send or signed yet. Should I renegotiate my salary or should I just stick with it. What does anyone think?
Reply With Quote
  #16 (permalink)  
Old 20-11-2016, 09:47 AM
Unregistered
Guest
 
Posts: n/a
Default

seems like there are so many downsides to a contract.. so what are the upsides?
Reply With Quote

  #17 (permalink)  
Old 20-11-2016, 12:17 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
The more important thing is to understand your own situation. If you just started to apply for jobs 1 week ago and this happens to be the first interview and offer then you can just reject the offer. If you have been looking for a job for a few months and so far very little interviews and just this 1 offer, contract or not it is still better to accept and get some experience and money first.

The thing for fresh grads is the longer you drag on unemployed, the harder it is to get another job in the future. Most companies don't shortlist people who are unemployed for too long because in a weak economy, they are spoilt for choices.
Hi when you said the longer one is unemployed the less desirable he is, are you referring also to those working in contract without a perm job or only those totally unemployed? Would a contract worker be seen as undesirable? Thank you
Reply With Quote
  #18 (permalink)  
Old 20-11-2016, 12:55 PM
Caao
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hi when you said the longer one is unemployed the less desirable he is, are you referring also to those working in contract without a perm job or only those totally unemployed? Would a contract worker be seen as undesirable? Thank you
That really depends. If you are unemployed right after school, first few months can be explained away by searching in progress. Once it hits 6 months it becomes downhill all the way as employers are usually cautious and wonder why you cannot find anything for so long.

As for contractor it depends on the type of industry. Banking BO and IT industry is quite common, so if you stay within the industry employers tend to be more understanding. It's not fantastic from a CV point of view, but at least acceptable if the first 3-4 years is contractor. Anything beyond 5 years still in contract then I think is not good.
Reply With Quote
  #19 (permalink)  
Old 20-11-2016, 01:00 PM
Unregistered
Guest
 
Posts: n/a
Default

I am approaching ny third month of job finding since I graduate. I plan to take a contract in the finance banking industry for a max of 1 year or so (if possible lesser)before trying to take on a perm role. Would this be a wise choice to accept a contract now?
Reply With Quote
  #20 (permalink)  
Old 20-11-2016, 01:05 PM
Caao
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
What is an acceptable salary guide for contracts? I have an offer of 2800 and I think it is quite low comparing with some other peers in contract jobs at other banks (3k+). The agent told me that the employer has decided to offer me the job though the contract has not been send or signed yet. Should I renegotiate my salary or should I just stick with it. What does anyone think?
It's going to be like that, you can try asking for 3k if possible, but usually for just junior operations they won't budge. These are hire & fire type outsourced operations with high turnover, the agencies are given a cost base which they manage and draw a fee, not really anything to do with the bank.

BTW 3k+ contract in back office is considered quite high, I don't think that's the norm. Considering the whole banking sector is downsizing, I doubt they are throwing out 3k+ contracts everywhere. My own bank is only offering 3k for a perm analyst/associate BO position.


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


Bursa Stocks Android App - check share prices
Bursa Stocks [Android] App - check latest share prices on the go


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Contract jobs being repackaged as internships warning Income and Jobs 10 07-08-2017 11:35 AM
DBS Contract Job pay is how much? intrigued Income and Jobs 3 22-10-2015 08:18 PM
Contract Jobs allstar Income and Jobs 2 21-01-2015 10:23 PM
Question about contract jobs in Ministries rapier82 Income and Jobs 5 02-09-2011 01:35 AM
Are 4 year contract jobs odd? angelamurphy59 Income and Jobs 2 30-01-2011 04:51 PM

» 30 Recent Threads
GovTech ( 1 2 3... Last Page)
5,929 Replies, 2,332,643 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
2,067 Replies, 1,095,023 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,367 Replies, 3,478,103 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
16,219 Replies, 5,131,590 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,928 Replies, 2,932,341 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
766 Replies, 419,906 Views
Career as Teacher ( 1 2 3... Last Page)
11,225 Replies, 6,871,813 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
1,839 Replies, 1,455,857 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,519 Replies, 1,408,892 Views
Are job offers today based on...
4 Replies, 3,441 Views
Compare civil service salary ( 1 2 3... Last Page)
16,447 Replies, 12,628,682 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,710 Replies, 2,405,099 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
332 Replies, 382,329 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
838 Replies, 394,254 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,289 Replies, 644,461 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
421 Replies, 504,874 Views
Lawyer Salary ( 1 2 3... Last Page)
21,180 Replies, 10,500,722 Views
Working Culture in IRAS ( 1 2 3... Last Page)
75 Replies, 170,197 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,177 Replies, 3,819,968 Views
Work culture in IHiS ( 1 2 3... Last Page)
728 Replies, 557,781 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,855 Replies, 1,247,096 Views
Banks' Pay and Bonuses ( 1 2 3... Last Page)
558 Replies, 507,860 Views
Julius Baer Graduate Program 2023 ( 1 2 3... Last Page)
32 Replies, 17,486 Views
ST Electronics ( 1 2 3... Last Page)
3,818 Replies, 1,586,242 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,353 Replies, 1,171,289 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,905 Replies, 4,742,798 Views
NUS (National University of... ( 1 2 3... Last Page)
324 Replies, 329,579 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,426 Replies, 4,859,143 Views
Working in SMRT ( 1 2 3... Last Page)
41 Replies, 59,366 Views
Work culture in CPF board ( 1 2 3... Last Page)
35 Replies, 78,522 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 12:48 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2