How much are you earning per annum?

Originally Posted by Unregistered

You sir have help me tremendously in my decision to visit Bedok Reservoir tomorrow.

Why? I'm 27 and earns only $2.5k per month. A pathetic bum. how to survive?

Sigh...

If you don't mind, care to share what you do for a living?

Welcome to investment banking!

Manager of Lean Six Sigma Black Belt in MNC manufacturing plant (electronics)
S$150 p.a.
40 years age.
Wondering how similar job functions in other industry does?

In my previous firm, the boss told all VPs to either invest in a decent car, or use the company car on official visits, for the reasons you have outlined below. Hence when I change to my current firm, I had the impression I had to at least match the status of my colleagues (eventhough I didnt have much savings... I was pressured to buy a better car)

My current boss is a Malaysian, with a very different mindset. He is well liked by clients who find him down to earth and not showy like the other investment bankers. He drives a Honda . Although we also have our official company cars/ drivers.

The VPs / Exec Directors under him all drive all those flashy cars though. Difference in mindset and the way he choose to spend his money I guess. Deserves some form of respect in my humble opinion. or maybe his son/wife drives his merc?

Originally Posted by Unregistered

He is being very disrespectful to the company as well as clients who he may need to pick up from the airport or give a lift to.

The difference between a Honda and an entry level Mercedes E Class is not that great for someone earning "S$1-2milliona year".

What sort of image is his trying to project? That your company's margins are very low so customers please don't squeeze us? In that case his should mandate that all employees drive Hondas and below to project a consistent corporate image.

Originally Posted by Bean

Please tell me that you are an engineer!!!!

I only getting 3.7k/mth after 4 years as n engineer

Note: that my boss 17-18 years exp getting 120k annual inclusive bonus , that is the same salary as you

My brother is also an engineer, graduated from NUS. I am in an investment bank.. if not how to earn such salary. However my work is very stressful.

My partner is in banking as well.. but she takes a less stressful job at a local bank. So earn only 3k p/m.

Although 3.7k after 4 years is abit low as an engineer, IMO. My brother (~2 years) is earning that amount.

I agree. Peer pressure. And also cheap financing. I can afford to buy the car because although I dont have enough cash savings, banks are willing to finance me with my monthly salary.

Had alot of peer pressure by colleagues who make fun of my current car.

Originally Posted by Unregistered

I find it funny that you wanted to buy a european car when you can't even afford a roof over your head.

You can't afford a roof despite your relatively high earning power, and yet you were contemplating paying for a relatively expensive car.

This explains why you are still so poor even though you make much more than more people your age.

We need more people like you, so we average earners can accumulate more wealth, invest well, and surpass you guys at the end of the marathon.

Originally Posted by Unregistered

My brother is also an engineer, graduated from NUS. I am in an investment bank.. if not how to earn such salary. However my work is very stressful.

My partner is in banking as well.. but she takes a less stressful job at a local bank. So earn only 3k p/m.

Although 3.7k after 4 years is abit low as an engineer, IMO. My brother (~2 years) is earning that amount.

I think a janitor in a bank makes more than an engineer in singapore. Don't understand why people keep insisting on chasing after an engineering career. The writing is on the wall for all to see.

I know some will say it's their passion. Maybe it's also their passion to make low income and be belittled by their wives and peers. Passion my foot.

nus engineering grad with pass degree. working exp 3 yrs in money broking and investment bank ops. what should my expected salary be ? i wanna to know mkt rate.

See, why there's such "injustice"? Industries involved in making the real economy tick ....Engineering, Manufacturing are paid peanuts compared to investment banking.

Most investment bankers are nothing more than scammers who robs the poor/middle majority for their own benefits......packaging subprime mortgages, bundled them as derivatives, (CDOs, Collateralized Debt Obligations) and selling them to the retail investors and then betting against the same CDOs to fail.

Go watch the documentary Insider Job (2010) and you'll know exactly what I mean.
Makes you want to puke on how corrupted these investment banks and the people who run them are.

But then again......if you are the one earning the big bucks and living the high life....you wouldn't probably give a hoot too.

It depends on which bank you work for. If US / EU bank, 3 years you should be earning between 5+k p/m, IMO.

It depends on your starting salary also. My time, UBS , Barcs, CS paid 3.8-4.0k for IB ops.

Originally Posted by washout

nus engineering grad with pass degree. working exp 3 yrs in money broking and investment bank ops. what should my expected salary be ? i wanna to know mkt rate.

Don't stereotype all Investment bankers. Those doing those CDOs are a very small bunch. And most of the teams are in EU/ US. I started off in 2007 doing M&A.. almost lost my job during the crisis. Now, joined another IB doing Equities. Crisis is coming and I worry l will lose my job again. Never robbed anyone/cheated anyone. Starting pay is high but the hours are very very long. When I come home from work my whole family is asleep already. When I wake up for work they haven't wake up yet. I think alot of people only focus on the high pay but there are alot of sacrifices. People don't pay you money for nothing. No free lunch.

Originally Posted by Unregistered

See, why there's such "injustice"? Industries involved in making the real economy tick ....Engineering, Manufacturing are paid peanuts compared to investment banking.

Most investment bankers are nothing more than scammers who robs the poor/middle majority for their own benefits......packaging subprime mortgages, bundled them as derivatives, (CDOs, Collateralized Debt Obligations) and selling them to the retail investors and then betting against the same CDOs to fail.

Go watch the documentary Insider Job (2010) and you'll know exactly what I mean.
Makes you want to puke on how corrupted these investment banks and the people who run them are.

But then again......if you are the one earning the big bucks and living the high life....you wouldn't probably give a hoot too.