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  #1861 (permalink)  
Old 30-05-2012, 11:33 AM
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Quote:
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If its overcrowded then pay shouldn't be as attractive as it is still.

If pay is still so good that all students still wanna study business banking and finance, then it is not considered overcrowded.
I'm paid only 5.5k pm. My increment was $900, $400, freeze, $120, $200, freeze from 2007 till now.

You can plot the trend and extrapolate. BTW I have an MBA and a scholarship from an Aussie Uni. It's quite tough to accept the reality when I put in a lot of effort but got less and less just because I'm at the bottom of the food chain where those on top gets a huge cut and nothing trickles down to us at the bottom.

My colleague shares the disappointment and mis match between company's performance and bonus pay out.

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  #1862 (permalink)  
Old 30-05-2012, 11:46 AM
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Quote:
Originally Posted by jason78 View Post
I'm paid only 5.5k pm. My increment was $900, $400, freeze, $120, $200, freeze from 2007 till now.

You can plot the trend and extrapolate. BTW I have an MBA and a scholarship from an Aussie Uni. It's quite tough to accept the reality when I put in a lot of effort but got less and less just because I'm at the bottom of the food chain where those on top gets a huge cut and nothing trickles down to us at the bottom.

My colleague shares the disappointment and mis match between company's performance and bonus pay out.
Some SMU fresh grads get 4.7 already. Banks like nubile newbies.

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  #1863 (permalink)  
Old 30-05-2012, 02:22 PM
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Any 1 knows how much is the salary of a Police Officer Station Inspector?

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  #1864 (permalink)  
Old 30-05-2012, 05:08 PM
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Any 1 knows how much is the salary of a Police Officer Station Inspector?
Should be similar around the same region as a army 2WO, $4400+-/mth.
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  #1865 (permalink)  
Old 30-05-2012, 09:58 PM
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Where did you do your MBA? distance learning?

Quote:
Originally Posted by jason78 View Post
I'm paid only 5.5k pm. My increment was $900, $400, freeze, $120, $200, freeze from 2007 till now.

You can plot the trend and extrapolate. BTW I have an MBA and a scholarship from an Aussie Uni. It's quite tough to accept the reality when I put in a lot of effort but got less and less just because I'm at the bottom of the food chain where those on top gets a huge cut and nothing trickles down to us at the bottom.

My colleague shares the disappointment and mis match between company's performance and bonus pay out.
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  #1866 (permalink)  
Old 30-05-2012, 11:20 PM
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Quote:
Originally Posted by jason78 View Post
I'm paid only 5.5k pm. My increment was $900, $400, freeze, $120, $200, freeze from 2007 till now.

You can plot the trend and extrapolate. BTW I have an MBA and a scholarship from an Aussie Uni. It's quite tough to accept the reality when I put in a lot of effort but got less and less just because I'm at the bottom of the food chain where those on top gets a huge cut and nothing trickles down to us at the bottom.

My colleague shares the disappointment and mis match between company's performance and bonus pay out.
Hi are u AVP or associate? Just to share last year I got 4.5 mths bonus. Local bank. Average performer, so I'm sure those in top 20% got even more.
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  #1867 (permalink)  
Old 31-05-2012, 12:59 AM
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I suppose you are a girl.

I just signed my letter of appt for a ministry and the starting pay is 3740 with first class honors

Mine is Mx13 with a 2 years contract.
What's your degree?
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  #1868 (permalink)  
Old 31-05-2012, 05:48 AM
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as long as 1st class in civil service, the major doesn't really matter what. but must be local uni, nus/ntu/smu standard to draw that level of pay lah.

Anw is it possible for a pass (merit) local degree holder to max out the ceiling and attain MX10 in 9-10years by age 35?
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  #1869 (permalink)  
Old 31-05-2012, 10:44 AM
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Proprety Launch Singapore
Quote:
Originally Posted by Unregistered View Post
Hi are u AVP or associate? Just to share last year I got 4.5 mths bonus. Local bank. Average performer, so I'm sure those in top 20% got even more.
I'm an Associate. 4.5 months is very good for average performer. Which function are you in? I'm in Business Finance (back office).


My team is very hierarchical. I had no increment at all.

My Direct report
MD (Back Office Div Business Finance supporting div country head)
VP (Back Office Country Business Finance supporting biz country head)
AVP (Back Office Product Group Business Finance supporting grp prod head)
Assoc (Me - Products Business Finance supporting product heads)



Too many layers will mean nothing much trickle down to me. Bonus is centrally budgeted at super high level and they typically go to the 1 downs and for an average performer like me, I dont get much as I'm at the bottom of the food chain.

There's mis alignment in recognition and who i work for and support (primarly product/business heads and not my boss). The product heads that I support cannot determine my bonus as I do not report to them.

In my 1st job in another local bank my team structure is different and is very flat and I got the most increment. There's only 1 SVP and everyone reports to 1 boss regardless of rank and title. I get recognized by my boss if I work hard as everyone has equal opportunity. However, promotion is hard to come by as local banks keeps a tight control on promotion.


SVP (Back Office Group Finance)
VP AVP MGR AM (Me) Analyst (Back Office Group Finance)



I heard that in another local bank an average performer got 6 months. Their team structure is as follows.



SVP (Front office Private Banking sales)
AVP (Back Office Business Finance)


The Business Finance person got 6 months basically due to the flat structure and is able to tap into the bonus paid to the front office.



An average performer in the 3 scenarios can get different increment/bonuses. It would be ideal if the person you support determines your bonus/increment however it's not always the case.


My preference is to work in smaller teams or teams with flat hierarchy or direct reporting to the business manager that i support.



New property launches
www.propertylaunch.org




.
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  #1870 (permalink)  
Old 31-05-2012, 10:54 AM
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Where did you do your MBA? distance learning?
Yup through distance learning but they flew the lecturers from the University of Adelaide to conduct weekend classes and we got the same lecturers as those who studied on campus. Couldnt afford to attend the classes on campus although we have the option to do so... I worked in a full time sales job while attending classes on weekends. Finished my MBA in 1 year 9 months. I did my IT degree on campus at the University of Queensland. After graduating with an IT hons degree, I started working in the IT industry before I did my MBA and switched to banking. Jobs in the IT industry back then didnt offer much security and were mostly on contract basis.




www.propertylaunch.org


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