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How much are you earning per annum?

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  #1041 (permalink)  
Old 06-12-2011, 10:16 AM
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Engineering is a much tougher course than finance. Why are finance grads being paid so much more?

Perhaps banking sector indeed makes a bigger contribution to economy/society than manufacturing focussed industries. Natural allocation of resources.

Anyways, here is mine.

Age: 24
Qualification: Accountancy (Hons, 3yr course)
Exp: < 1 year
Salary: 58k PA (bonus guidance: at least 4 mths. no AWS)
Company: US Bank

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Originally Posted by Unregistered View Post
I'm probably in the mean/median zone as I've friends who're outliers in upper (>100K p.a. in IBD/ PWM/ Bain/ BCG/ Mckinsey) and lower (25k p.a.) ends of the bell curve considering age 25.

Age : 25
Qualification : B.Eng
Exp : almost 1 yr
Salary : 55k PA. (only expecting barely 1 month's bonus anyway)
Company : European MNC

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  #1042 (permalink)  
Old 06-12-2011, 10:28 AM
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Cos banking is closer to the money.

Quote:
Originally Posted by Unregistered View Post
Engineering is a much tougher course than finance. Why are finance grads being paid so much more?

Perhaps banking sector indeed makes a bigger contribution to economy/society than manufacturing focussed industries. Natural allocation of resources.

Anyways, here is mine.

Age: 24
Qualification: Accountancy (Hons, 3yr course)
Exp: < 1 year
Salary: 58k PA (bonus guidance: at least 4 mths. no AWS)
Company: US Bank


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  #1043 (permalink)  
Old 06-12-2011, 11:21 AM
pedestrian passing by
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No... I didn't get first class nor second upper...
Marine industry... This year (2011) has been quite a quite a bad year for the industry

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Originally Posted by Bean View Post
wow! your starting pay is very high.

your annual package is 13 months.

55000 divided 13 = 4.2k/mth

fresh grad getting 4.2k per month is a lot especially in engineering, can tell from what industry ???

you getting 1st class???

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  #1044 (permalink)  
Old 06-12-2011, 11:21 AM
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Originally Posted by Unregistered View Post
Cos banking is closer to the money.
Nope... becos they still haven't start to replace Singaporeans working in finance with FT yet... It's only a matter of time... cheaper, smarter and hardworking who don't want?? Better be prepared for the axe very soon...
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  #1045 (permalink)  
Old 06-12-2011, 11:28 AM
pedestrian passing by
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Default AWESOME 4 Months' !!!

Wow! For a new joiner to get at least 4 months' bonus. That's what I'd call AWESOME !!!

I believe you must be in either Operations or Product Control as the annual base pay is unlike FO's > 8k monthly. US Bank.. hmm... guesses: Morgan Stanley, JP Morgan or Goldman Sachs? I know Citi doesn't give 4 months' bonus to MO new joiner this year for sure.

Please keep us updated on your pay increment when you have it? Thanks!

Quote:
Originally Posted by Unregistered View Post
Engineering is a much tougher course than finance. Why are finance grads being paid so much more?

Perhaps banking sector indeed makes a bigger contribution to economy/society than manufacturing focussed industries. Natural allocation of resources.

Anyways, here is mine.

Age: 24
Qualification: Accountancy (Hons, 3yr course)
Exp: < 1 year
Salary: 58k PA (bonus guidance: at least 4 mths. no AWS)
Company: US Bank
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  #1046 (permalink)  
Old 06-12-2011, 06:08 PM
Disgruntled old man
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Angry

It seems fresh graduates these days (at least those in this forum) are getting really good starting salaries...
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  #1047 (permalink)  
Old 08-12-2011, 03:07 PM
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Default fresh degree grad

Yeah, I heard lots of stories of bsc eng hons are finding it difficult to even get pass 3.5k mark, duno how true this is after looking at this forum
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  #1048 (permalink)  
Old 08-12-2011, 03:20 PM
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this is the survival bias: those who earn little has no or negative incentive to post while those who earn more has strong incentive, and they may, along the way, inflate the number a little bit, like maybe report their salary with the expected increment as their current salary.

bottomline: the income reported here is skewed on the high side. the best guages are the MoM and IRAS numbers. MoM do have numbers by occupation, and IRAS by age. You cannot deceive the tax man.
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  #1049 (permalink)  
Old 08-12-2011, 03:37 PM
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Quote:
Originally Posted by Unregistered View Post
Yeah, I heard lots of stories of bsc eng hons are finding it difficult to even get pass 3.5k mark, duno how true this is after looking at this forum
As the above poster said, this is called survivorship bias. Those who do well tend to talk more about it, while those not doing so well will be lurking in the forum and not posting any messages.

This is like your secondary school or JC reunion, where the successful ones tend to show up and share stories, while those not doing so well will find excuses not to come. And you wonder why every ex-classmate you meet at reunions is so successful.


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  #1050 (permalink)  
Old 09-12-2011, 02:41 PM
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Quote:
Originally Posted by Unregistered View Post
As the above poster said, this is called survivorship bias. Those who do well tend to talk more about it, while those not doing so well will be lurking in the forum and not posting any messages.

This is like your secondary school or JC reunion, where the successful ones tend to show up and share stories, while those not doing so well will find excuses not to come. And you wonder why every ex-classmate you meet at reunions is so successful.
Hahaha this is so funny..u forgot to add that they show up with their pretty wives. Anyway..I agree that the survivalship bias exist in this forum..nevertheless it's interesting, albeit demoralizing to know what the top 20-10% peeps are making.
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