Really that bad for engineers?

30 yr old Chinese Singaporean here.

Grad NTU (Civil) with a Bachelors (Basic) in 2007.

So far the scenario isn't really as bad as most put it.

I started in a shipyard in 2008 with a base pay of 46.8k per annum package as a project planner

Currently I am drawing a per annum package of approximately 71k in a simlar position in the O&G industry.

so it really depends on the timing and the industry that you join.

Originally Posted by Unregistered

30 yr old Chinese Singaporean here.

Grad NTU (Civil) with a Bachelors (Basic) in 2007.

So far the scenario isn't really as bad as most put it.

I started in a shipyard in 2008 with a base pay of 46.8k per annum package as a project planner

Currently I am drawing a per annum package of approximately 71k in a simlar position in the O&G industry.

so it really depends on the timing and the industry that you join.

O&G and banking have been the only 2 industries that pay engineers well. and 71k isn't that much either.

yeah well I'm still awaiting for my promotion and raise to clear HR so 71k is what I'm drawing atm.

And another thing, I'm not a working as an engineer, more of a project controls fella. Engineers definately draw more than I do haha.

Originally Posted by Unregistered

yeah well I'm still awaiting for my promotion and raise to clear HR so 71k is what I'm drawing atm.

And another thing, I'm not a working as an engineer, more of a project controls fella. Engineers definately draw more than I do haha.

Does your 71k include or exclude bonus?

Originally Posted by Unregistered

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.

Go back and look at what u typed. No where did u mention it's only "a small handful" or that your figures are only for the front office. Only after u kena exposed, then u mentioned "small handful". The IB ops associates/analysts are not making the freaking figures u quoted.

From your posts, it's quite obvious u're not working in an IB nor "in the market", so to speak. Reasons being:

1. Front office bankers are faced with lack of M&A deals. S&T volumes are dwindling. Euro is uncertain. IBs will continue to cut people across the globe. Nobody from front office will not come out and post those figures which u did, and add that they are in "USD, not SGD"

2. U're oso not working in IB back office, because all IB ops guys know that their functions are increasingly being shifted offshore to cheaper countries like India etc. Many of them got 0-3 digit numbers for their bonuses last year. Times are bad.

So I don't know why u quoted those numbers (which only apply to the top 5-10% in banking anyway) to show our engineer friends. Sorry, just felt that your numbers are quite misleading...

Former google engineer marissa mayer has a net worth of USD 300M at age 37.

Those bankers boasting about earning USD 500K are pathetic in comparison, have to work for 600 years to catch up.

Originally Posted by Unregistered

Former google engineer marissa mayer has a net worth of USD 300M at age 37.

Those bankers boasting about earning USD 500K are pathetic in comparison, have to work for 600 years to catch up.

what about you, loser?

Originally Posted by Unregistered

what about you, loser?

Im very happy with my net worth, thank you v much. Its not much of an achievement at age 35, only 2 freehold terrace houses, 2 cars (1 sports, 1 bmw five series) and 800K in cash and stocks

Sorry if it is not obvious enough that the salaries are that of investment bankers. I'm not referring to the IT or Ops guy working in investment bank. I'm referring to the ECM, DCM & Corp Fin guys.

M&A deals and S&T volumes are dwindling. So the bonus are crap but do you know what's the base pay of a fresh grad investment banker? (i.e analyst. Look at the MS numbers, they are the only one with analyst data pt) S$10-12k. (Citi, JPM, Goldman, SCB, DB, Macquarie, CS, UBS, BOAML) Guess what, on top of that S$10-12k, there is also a S$2k+ housing allowance (ask you friend at Citi, he will tell you) for some of the houses.
So there's nothing inaccurate about the "freaking figures" I had quoted.

Originally Posted by Unregistered

Go back and look at what u typed. No where did u mention it's only "a small handful" or that your figures are only for the front office. Only after u kena exposed, then u mentioned "small handful". The IB ops associates/analysts are not making the freaking figures u quoted.

From your posts, it's quite obvious u're not working in an IB nor "in the market", so to speak. Reasons being:

1. Front office bankers are faced with lack of M&A deals. S&T volumes are dwindling. Euro is uncertain. IBs will continue to cut people across the globe. Nobody from front office will not come out and post those figures which u did, and add that they are in "USD, not SGD"

2. U're oso not working in IB back office, because all IB ops guys know that their functions are increasingly being shifted offshore to cheaper countries like India etc. Many of them got 0-3 digit numbers for their bonuses last year. Times are bad.

So I don't know why u quoted those numbers (which only apply to the top 5-10% in banking anyway) to show our engineer friends. Sorry, just felt that your numbers are quite misleading...

Originally Posted by Unregistered

Sorry if it is not obvious enough that the salaries are that of investment bankers. I'm not referring to the IT or Ops guy working in investment bank. I'm referring to the ECM, DCM & Corp Fin guys.

M&A deals and S&T volumes are dwindling. So the bonus are crap but do you know what's the base pay of a fresh grad investment banker? (i.e analyst. Look at the MS numbers, they are the only one with analyst data pt) S$10-12k. (Citi, JPM, Goldman, SCB, DB, Macquarie, CS, UBS, BOAML) Guess what, on top of that S$10-12k, there is also a S$2k+ housing allowance (ask you friend at Citi, he will tell you) for some of the houses.
So there's nothing inaccurate about the "freaking figures" I had quoted.

And why the **** should anyone care if they are not/will not be an iBanker?