Really that bad for engineers?

Originally Posted by Unregistered

No doubt about it bonus for this year is really bad. Nevertheless, pay at investment banks still higher than other industries. Here is some guidance.

Numbers are in S$. Base Salary/ Total Compensation:

Citi.

• Managing Director : Base Salary 400-550k, Total Comp 1mm+
• Director : 300-400k, 400-650k
• Vice President : 200-250k, 300-500k
• Associate : 140-170k, 200-350k

Goldman
• Managing Director : Base Salary 500k-600k, Total Comp 1mm+
• Executive Director : 300k-450k, 700k – 950k
• Vice President : 190-250k ,350k-500k
• Associate : Base 140-160k, 200-350k

JPM

• Managing Director : Base Salary 400k-600k, Total Comp 1mm+
• Executive Director : 300k-400k, 600-800k
• Vice President : 180-250k, 350-600k
• Associate : 130-170k, 190-300k

MS
• Managing Director : Base Salary 400k-500k, Total Comp 1mm+
• Executive Director : 300k-350k, 450-950k (bulk at 550-750k)
• Vice President : 190-250k, 350-800k (bulk at 400-600k)
• Associate : 140-160k, 200-350k
• Analyst : 90-120k, 120-150k

wow, even the most junior base pay is 90k, or 7.5k/mth....
$7500 is alot man, where alot of engineer will retire around this salary...

some of my friends working as engineer 5yrs exp in MNC only hitting 4-4.5k/mth basic with around 75k annual (inclusive all bonus)

my apologies. The figures should be in USD (not SGD)

take with a pinch of salt that these guys work twice the normal hours of engineers (and on weekends) so might be more accurate if you divide their pay by 2 (or per hour) for comparison.

Originally Posted by Unregistered

my apologies. The figures should be in USD (not SGD)

take with a pinch of salt that these guys work twice the normal hours of engineers (and on weekends) so might be more accurate if you divide their pay by 2 (or per hour) for comparison.

many engineers wish they could also work twice as many hours and get twice as much salary, but can they?

[poor and stupid]

Actually can, but most engineer do twice the hour also not even quarter of their pay.

(The article was first published on Transitioning.org, a support site for the unemployed.)



I’m 39 Male Chinese Singapore Citizen. 2.5 years NS and 10 years ICT for the boot…..

I graduated from Nanyang Technological University in July 1997 with a Bachelor’s degree in Materials Engineering.

After graduation, my working experience has always been in the failure analysis and inspection of IC components in various companies.

I was retrenched in 2010 due to company closure. Ever since, I have trouble getting full time jobs.

I applied for diploma entry level jobs even though the skillsets required were below those described in my resume.

Yet…I was not called up for interview.

I’m willing to take a lower diploma pay but yet……forget it.

My foray into temp jobs didnt bode well either….I did worked part time in a library before but I found the pay too low ($4/hour)….so I quit after five months.

Imagine a NTU engineering graduate having to go down to such a level is frankly beyond me especially when I started to study engineering almost two decades ago with much optimism.

What is happening to our country?

Moreover, the government won’t be bothered about people like us.

We are the losers.

WDA and e2i called up when I was doing part time in the library…..and they assumed I’m fully employed after I told them my part time job! What a joke!

Subsequently my name was removed from the list and I guess that’s why unemployment figures are low…. I also heard that those who are out of work for more 6 months are considered retired!

How can the unemployment figure be just 2%? Its beyond comprehension…

When I was working in the library, I chatted with the aunties working there and a lot of them told me their sons/daughters also got trouble finding jobs even with a professional degree.

You might have wondered why those aunties are willing to stick to the library job despite such low pay ($4/hour)? It is only because they can’t find relevant companies willing to employ them.

$4 /hour? It is totally ridiculous and almost like a cleaner’s pay.

If you think it is an easy job (which many think it is)….try doing it for 5-8 hours standing most of the time.

According to them…..the agency submitted the lowest bid to NLB…naturally the project was awarded to them because the government always go for the lowest bidder.

Hence…..the low rates.

I guess this also explains why cleaners wages are low too.

We are in serious trouble and yet many people think Singapore is still ok….that’s because they still have cushy jobs.

The influx of FTs in every area has depressed wages for low income workers and also deprive our local graduates of good jobs.

The government always say FTs are here to do jobs which Singaporeans don’t wish to do……but what about jobs which we want to do?

If you are wondering why I can still survive until now….it is because I have been frugal all along and I’m still single. If I’m married with kids, most likely I would have ended up in Bedok Reservoir.

That is just so depressing to hear... You shouldn't studied engineering in the first place.. Well and even if you did... after the first few years.... you should have seen the dead end coming and left hopped to another industry... Material engineering is just too niche and irrelevant course in Singapore.. You are really screwed big time at your age with your skillset.. It's the end man...

Well, to all the young engineers out there who have just graduated and is still green to the real world of engineering.. You've really got conned into investing the precious 4 years of your life to pursue an education of little worth... Seriously, the situation is so bad that they have to set up a task force to have to brainstorm on how to attract(con) more people to study engineering as well as to retain those who already inside the shhit and prevent them from leaving...
In view of the present situation, just ask yourself a few years from now how much you can earn in engineering... Will you be able to earn enough to live with dignity and provide a comfortable life for your family?? If you are unsure or you think not.. you better get out of engineering as soon as you can.. The gahment knows that the minimum wage policy for engineering can no longer attract locals to stay as engineers.. so they are aggressively importing cheaper ones from overseas... Doens't matter anyway, as long as the work gets done.. the cheaper, the better rite?? Well very soon, you will find the local engineers being retrench and replaced by the cheaper alternatives we import..... I was an engineer also.. So glad i managed to switch out early... There so many jobs outside engineering, why choose the one with the highest responsibility and the lowest payout??!! these days they are just banking on those who doesn't dare to do career switch to slave their whole lives in engineering until the next batch of idiots graduate.... Really a sad situation in Singapore for the profession man...

Originally Posted by Unregistered

(The article was first published on Transitioning.org, a support site for the unemployed.)



I’m 39 Male Chinese Singapore Citizen. 2.5 years NS and 10 years ICT for the boot…..

I graduated from Nanyang Technological University in July 1997 with a Bachelor’s degree in Materials Engineering.

After graduation, my working experience has always been in the failure analysis and inspection of IC components in various companies.

I was retrenched in 2010 due to company closure. Ever since, I have trouble getting full time jobs.

I applied for diploma entry level jobs even though the skillsets required were below those described in my resume.

Yet…I was not called up for interview.

I’m willing to take a lower diploma pay but yet……forget it.

My foray into temp jobs didnt bode well either….I did worked part time in a library before but I found the pay too low ($4/hour)….so I quit after five months.

Imagine a NTU engineering graduate having to go down to such a level is frankly beyond me especially when I started to study engineering almost two decades ago with much optimism.

What is happening to our country?

Moreover, the government won’t be bothered about people like us.

We are the losers.

WDA and e2i called up when I was doing part time in the library…..and they assumed I’m fully employed after I told them my part time job! What a joke!

Subsequently my name was removed from the list and I guess that’s why unemployment figures are low…. I also heard that those who are out of work for more 6 months are considered retired!

How can the unemployment figure be just 2%? Its beyond comprehension…

When I was working in the library, I chatted with the aunties working there and a lot of them told me their sons/daughters also got trouble finding jobs even with a professional degree.

You might have wondered why those aunties are willing to stick to the library job despite such low pay ($4/hour)? It is only because they can’t find relevant companies willing to employ them.

$4 /hour? It is totally ridiculous and almost like a cleaner’s pay.

If you think it is an easy job (which many think it is)….try doing it for 5-8 hours standing most of the time.

According to them…..the agency submitted the lowest bid to NLB…naturally the project was awarded to them because the government always go for the lowest bidder.

Hence…..the low rates.

I guess this also explains why cleaners wages are low too.

We are in serious trouble and yet many people think Singapore is still ok….that’s because they still have cushy jobs.

The influx of FTs in every area has depressed wages for low income workers and also deprive our local graduates of good jobs.

The government always say FTs are here to do jobs which Singaporeans don’t wish to do……but what about jobs which we want to do?

If you are wondering why I can still survive until now….it is because I have been frugal all along and I’m still single. If I’m married with kids, most likely I would have ended up in Bedok Reservoir.

Originally Posted by Unregistered

No doubt about it bonus for this year is really bad. Nevertheless, pay at investment banks still higher than other industries. Here is some guidance.

Numbers are in S$. Base Salary/ Total Compensation:

Citi.

• Managing Director : Base Salary 400-550k, Total Comp 1mm+
• Director : 300-400k, 400-650k
• Vice President : 200-250k, 300-500k
• Associate : 140-170k, 200-350k

Goldman
• Managing Director : Base Salary 500k-600k, Total Comp 1mm+
• Executive Director : 300k-450k, 700k – 950k
• Vice President : 190-250k ,350k-500k
• Associate : Base 140-160k, 200-350k

JPM

• Managing Director : Base Salary 400k-600k, Total Comp 1mm+
• Executive Director : 300k-400k, 600-800k
• Vice President : 180-250k, 350-600k
• Associate : 130-170k, 190-300k

MS
• Managing Director : Base Salary 400k-500k, Total Comp 1mm+
• Executive Director : 300k-350k, 450-950k (bulk at 550-750k)
• Vice President : 190-250k, 350-800k (bulk at 400-600k)
• Associate : 140-160k, 200-350k
• Analyst : 90-120k, 120-150k

Where's your source of info? This is Singapore, not New York City. Wake up and stop misleading people. Your figures are only for a small % of successful front office bankers. Do u know out of 100 grads from Ntu/Nus/Smu, how many will get into those positions that command those figures? U may as well quote the admin service people working in government.

Originally Posted by Unregistered

Where's your source of info? This is Singapore, not New York City. Wake up and stop misleading people. Your figures are only for a small % of successful front office bankers. Do u know out of 100 grads from Ntu/Nus/Smu, how many will get into those positions that command those figures? U may as well quote the admin service people working in government.

You choose not to believe the numbers because you have more accurate data, or because you just don't believe them?

If the former, show us the data and source.

If the latter, why are you so sure the numbers cited are "crap"?

Originally Posted by Unregistered

No doubt about it bonus for this year is really bad. Nevertheless, pay at investment banks still higher than other industries. Here is some guidance.

Numbers are in S$. Base Salary/ Total Compensation:

Citi.

• Managing Director : Base Salary 400-550k, Total Comp 1mm+
• Director : 300-400k, 400-650k
• Vice President : 200-250k, 300-500k
• Associate : 140-170k, 200-350k

Goldman
• Managing Director : Base Salary 500k-600k, Total Comp 1mm+
• Executive Director : 300k-450k, 700k – 950k
• Vice President : 190-250k ,350k-500k
• Associate : Base 140-160k, 200-350k

JPM

• Managing Director : Base Salary 400k-600k, Total Comp 1mm+
• Executive Director : 300k-400k, 600-800k
• Vice President : 180-250k, 350-600k
• Associate : 130-170k, 190-300k

MS
• Managing Director : Base Salary 400k-500k, Total Comp 1mm+
• Executive Director : 300k-350k, 450-950k (bulk at 550-750k)
• Vice President : 190-250k, 350-800k (bulk at 400-600k)
• Associate : 140-160k, 200-350k
• Analyst : 90-120k, 120-150k

These numbers look a little low, esp. for VP & above.

As I said, these are IB comps and not reflective of everyone in the finance industry. Just a small handfull so take it with a pinch of salt.

How I got it? Those in the industry share these data which are pooled and circulated to via email. This is done annualy and we used it as a comparision to make sure we are not cheated or simply to bench-mark how we have performed relative to our peers.

Some may even use it as a negotiation tool. I think you should be the one to wake-up. Obviously you know nothing.

Originally Posted by Unregistered

Where's your source of info? This is Singapore, not New York City. Wake up and stop misleading people. Your figures are only for a small % of successful front office bankers. Do u know out of 100 grads from Ntu/Nus/Smu, how many will get into those positions that command those figures? U may as well quote the admin service people working in government.