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Really that bad for engineers?

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  #61 (permalink)  
Old 08-07-2010, 09:26 AM
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You only need 1 Financial Controller/Director in 1 MNC but you need many Engineers, so who will be better compensated? The answer is obvious. I graduated about 13 yrs ago, am 36 yrs old and makes about 15K a month as a Finance Director in a software company. My Buddy slog in Engineering line for about 10years before being made an Eng manager and he is only making half of what I make. No offence to Engineers here but what I have said here are facts!!
Since there's only 1 finance director, how many will make it to that position like you did? Going by your reasoning, if there's a course to groom undergrads to become the PM or a minister in Singapore (political science?), will that be an obvious choice for you?

I would say engineering is a safe bet, but capable risk takers in other disciplines will be richly rewarded IF they succeed.

That said, an easier path would to be to do sales. You don't even need a degree. Just look at the successful property and insurance agents, or those commission-based sales / accounts manager in big companies. Many make more than 15K and don't even have a degree. And there are many such positions available, unlike just "1 finance director in 1 MNC".

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  #62 (permalink)  
Old 08-07-2010, 11:16 AM
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Since there's only 1 finance director, how many will make it to that position like you did? Going by your reasoning, if there's a course to groom undergrads to become the PM or a minister in Singapore (political science?), will that be an obvious choice for you?

I would say engineering is a safe bet, but capable risk takers in other disciplines will be richly rewarded IF they succeed.

That said, an easier path would to be to do sales. You don't even need a degree. Just look at the successful property and insurance agents, or those commission-based sales / accounts manager in big companies. Many make more than 15K and don't even have a degree. And there are many such positions available, unlike just "1 finance director in 1 MNC".
agreed. moreover, graduates 10-20 years ago are having much much more better life than the grads now.

the golden era is over. suck it man sgp!

the best bet is to get a scholarship, get bonded to the govt, get first class honours and leech on them while still having dealings with the private sector.

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  #63 (permalink)  
Old 08-07-2010, 11:22 AM
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Since there's only 1 finance director, how many will make it to that position like you did? Going by your reasoning, if there's a course to groom undergrads to become the PM or a minister in Singapore (political science?), will that be an obvious choice for you?

I would say engineering is a safe bet, but capable risk takers in other disciplines will be richly rewarded IF they succeed.

That said, an easier path would to be to do sales. You don't even need a degree. Just look at the successful property and insurance agents, or those commission-based sales / accounts manager in big companies. Many make more than 15K and don't even have a degree. And there are many such positions available, unlike just "1 finance director in 1 MNC".
You dont get my point at all. Every year the number of Engineeering graduates churned out by the 3 or 4 local universities are around 3, 4 times more than Finance/Biz graduates, so most Companies hire Engineers in huge numbers compared to more selective hiring of Banking/ Finance graduates in the Financial sector, so do you think they can afford to pay much higher salaries to Engineers? The companies will sink under the high overheads.

It is the nature of the Engineering profession. So to those Engineers in this forum who are complaining about low pay after years and years of slogging, either be contented with a lower but stable pay or switch to industries where skill sets are rarer such as the Banking/Finance and are better rewarded. Or you can go into sales/front office roles where you will be rewarded for bring in revenues.

I also want to correct some of the comments posted here: The Acct/Banking/Finance sector dont hire stupid people. You dont find stupid or so-so people making lots of money there. If you have no brains, you will not survive, much less make big bucks there. Top earners in Finance sector such as Derivative traders/ Product Controllers/Private Bankers are not only straight A graders but also individuals with high EQ/IQ. You know what I mean when you talk to one.

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  #64 (permalink)  
Old 09-07-2010, 02:36 PM
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I also want to correct some of the comments posted here: The Acct/Banking/Finance sector dont hire stupid people. You dont find stupid or so-so people making lots of money there. If you have no brains, you will not survive, much less make big bucks there. Top earners in Finance sector such as Derivative traders/ Product Controllers/Private Bankers are not only straight A graders but also individuals with high EQ/IQ. You know what I mean when you talk to one.
Sound like their straight A paper is as good as doctor/lawyer or even better.
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  #65 (permalink)  
Old 09-07-2010, 03:17 PM
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You dont get my point at all. Every year the number of Engineeering graduates churned out by the 3 or 4 local universities are around 3, 4 times more than Finance/Biz graduates, so most Companies hire Engineers in huge numbers compared to more selective hiring of Banking/ Finance graduates in the Financial sector, so do you think they can afford to pay much higher salaries to Engineers? The companies will sink under the high overheads.

It is the nature of the Engineering profession. So to those Engineers in this forum who are complaining about low pay after years and years of slogging, either be contented with a lower but stable pay or switch to industries where skill sets are rarer such as the Banking/Finance and are better rewarded. Or you can go into sales/front office roles where you will be rewarded for bring in revenues.

I also want to correct some of the comments posted here: The Acct/Banking/Finance sector dont hire stupid people. You dont find stupid or so-so people making lots of money there. If you have no brains, you will not survive, much less make big bucks there. Top earners in Finance sector such as Derivative traders/ Product Controllers/Private Bankers are not only straight A graders but also individuals with high EQ/IQ. You know what I mean when you talk to one.
I agree. Some of my friends in the banking sector - investment banking. The way they handle things, you can tell they are so different, so driven and intellectual (EQ/IQ) person than a normal dude.
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  #66 (permalink)  
Old 13-07-2010, 03:23 PM
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aiya all of us sgp cant be engineers one la. onli good at office admin stuff, office politics, use mouth but nt brains and hands.

see, even the new casinos in sg are all not built by sgp. i watched a recent documentary on building the marina bay sands. its one hell of a big magnificent project. but sgp plays no part in building it. all the project manager, engineer, architect to construction workers are foreigners. sgp so lazy, onli wan to sit in office, wait for money fall onto them. dun get dirty how to build big stuff. period.

sg engineering industy almost all gone alr la, or was never there in the first place... left all the sales, marketing **** office work here onli la. think wat hub wat hub, if u onli have office workers here, the big mncs can be here for a moment, but they can easily relocate to other places.

people who cant use their brains, hands to make things will ultimately be on the losing end.
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  #67 (permalink)  
Old 13-07-2010, 09:32 PM
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It is with complete honesty and evident internal and external experiences when I say "follow your passion".

It is a concept that many successful (by his/her own measure) struggled with, so you aren't alone.

Perhaps you could ask yourself few, but not limited to, simple questions and expand them further.

* What would you do if money isn't an issue?
* Are you investing personal time and effort to build on depth and variety in your field, not because of money, but of curiosity, challenge and fun?
* If your work isn't quite your passion, what steps have you taken to fulfill your passion?
* Could you bridge your passion and work?

Passion often goes unnoticed. Nonetheless, it could also be developed. Read wide and randomly (foreign literature). If you stumble onto something interesting, go deep. You'll be rewarded.
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  #68 (permalink)  
Old 16-07-2010, 11:12 AM
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Hope to give a timely boost to future engineers' morales.

I'm finishing my 6th year as an engineer and currently drawing about $130k annually with all bonuses thrown in. I'm also lucky enough to enjoy what I'm doing at the moment.

My advice is to establish and maintain good contacts, and be willing to adapt, change and get out of your comfort zone. Most importantly, be happy with what you have and enjoy life.
Hi.

May i know what industry are you in?

I have worked for 2 years and 10 months in my current company and my gross salary is only about $46k anually with all the bonus thrown in.

I am going to hop in 6 months time and would like to know which engineering industry is relatively more lucractive.

Thanks
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  #69 (permalink)  
Old 17-07-2010, 01:15 PM
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Hi.

May i know what industry are you in?

I have worked for 2 years and 10 months in my current company and my gross salary is only about $46k anually with all the bonus thrown in.

I am going to hop in 6 months time and would like to know which engineering industry is relatively more lucractive.

Thanks
Oil and gas, my dear fellow engineer.
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  #70 (permalink)  
Old 18-07-2010, 01:14 AM
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I agree. Some of my friends in the banking sector - investment banking. The way they handle things, you can tell they are so different, so driven and intellectual (EQ/IQ) person than a normal dude.
That's true. In fact, the title of this thread is very misleading and should be changed to "Really that good for bad engineers?"

The engineering profession has a socialist remuneration structure based on Karl Marx's "From each according to his ability, to each according to his need.", similar to teaching and taxi driving.

For people who are not worldly wise and could not survive in the more competitive professions, engineering provides a safe haven which ensures a minimum wage for even the most incompetent.

The downside of this is that, like in a Marxist state, an outstanding engineer's annual income will never go above the low six-figures, no matter how good he is, and has to switch to other professions which will give him his due rewards.

In other words, the good engineers subsidise the bad engineers. Yet the bad engineers are not thankful and think that they can become investment bankers.
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