Fresh Engineering Grad want to switch to Banking

Originally Posted by Unregistered

If you can get 1st class hons, go for it. Its always good to have that in your resume, it shows you have brains. Even if you don't join the gov sector. And if you do join the gov sector, you'll probably get around $200 more than someone with 2nd upper. Good luck.

If I could turn back the clock I should have studied law, or studied finance and become a banker instead of being a typical engineer. Its not that being an engineer is bad, but compared to the pay you can get in US, what we get in Singapore is lousy.

BTW, I forgot to add that its not true that engineers only get 4k. I know of plenty of engineers in gov sector getting around 5k before bonus, 5 years after graduation. However, the pay increment probably slows down from there. So, engineers make an OK living, but certainly a far cry from lawyers (fresh from school at 5k!). Don't even get me started on the bankers and traders. I know of one forex trader working for a bank with a bloody BMW and he's younger than me. Damn.

thanks for the reply, but what do you think about working overseas otherwise? I heard countries like USA and Dubai pay so much more than singapore does, and i'm thinking how difficult is it to clinch a job in such countries? Is it much more difficult than it seems?

Thanks!

Originally Posted by Unregistered

I will be taking NTU mech engineering next year, and i'm wondering, with the stagnation of salary of the engineering industry here, is there any point for me to study hard for a 1st class hons ( which im intending to do) ?

I read of many engineers salary reaching only 4k+ after so many years, and I'm already thinking of moving to finance sector after i graduate, as the salary increment is much better there. However, is there any point in studying for a good hons since I apparently heard that only govt/civil service cares about the honours and not pvte sectors like banks?

I for one am already inclined to going to work at a bank after i graduate, so should I bother to study hard for a good hons in engineering, which is totally unrelated...?

Thanks for any input!

I would suggest to you that try to get 1st class honours for your mechanical degree, and on the main time you can get a <<minor in business>> from NTU, well you need to take up 5 module/subjects (total 15AUs) in the General Electives under Business elective, as long as you manage to pass all 5 business module/subjects (15AUs), you will be awarded with a <<Minor in Business>> on top of your mechanical engineering degree!!! This <<Minor in Business>> may of great help together with 1st class honours degree to secure an interview, if you want to apply financial/bank job.

Originally Posted by Unregistered

BTW, I forgot to add that its not true that engineers only get 4k. I know of plenty of engineers in gov sector getting around 5k before bonus, 5 years after graduation. However, the pay increment probably slows down from there. So, engineers make an OK living, but certainly a far cry from lawyers (fresh from school at 5k!). Don't even get me started on the bankers and traders. I know of one forex trader working for a bank with a bloody BMW and he's younger than me. Damn.

Well engineer in DSTA, those male(with NS), fresh local grad

1st class getting 3880
2nd upper getting 3580.

I do believe that after 5 years with at least 1 promotion, they should hit high 4K to low 5K salary per month, well excluding all bonus!!!!

I do have friend's brother working in ST engineering group, despite also a degree holder, after working in ST for 10 years, only getting around 4.1K/mth!!!

Originally Posted by Unregistered

I would suggest to you that try to get 1st class honours for your mechanical degree, and on the main time you can get a <<minor in business>> from NTU, well you need to take up 5 module/subjects (total 15AUs) in the General Electives under Business elective, as long as you manage to pass all 5 business module/subjects (15AUs), you will be awarded with a <<Minor in Business>> on top of your mechanical engineering degree!!! This <<Minor in Business>> may of great help together with 1st class honours degree to secure an interview, if you want to apply financial/bank job.

wow! thanks a lot for the advice, i will look into this further

Hi All, just a bit of sharing

Received my bonus yesterday...2.7 months & 300 bucks for salary increment
:/ reduced from 4.5 months last year; same increment as last year though.

B'ground Info
1.5 yrs with a Civil & Structural engineering design firm
close to 4 yrs with a Government-owned construction firm
latest monthly salary: 4.5k + AWS

Degree in Civil Engineering, minor in management from Canada. Just finished my (part-time) MBA and waiting for the results for my last 2 modules before attending my convo in Australia.

Well, i'm not gonna pursue for Professional Engineer (P.Eng). Instead, thinking of switching to the banking/finance sector... need advice...

Originally Posted by Unregistered

Hi All, just a bit of sharing

Received my bonus yesterday...2.7 months & 300 bucks for salary increment
:/ reduced from 4.5 months last year; same increment as last year though.

B'ground Info
1.5 yrs with a Civil & Structural engineering design firm
close to 4 yrs with a Government-owned construction firm
latest monthly salary: 4.5k + AWS

Degree in Civil Engineering, minor in management from Canada. Just finished my (part-time) MBA and waiting for the results for my last 2 modules before attending my convo in Australia.

Well, i'm not gonna pursue for Professional Engineer (P.Eng). Instead, thinking of switching to the banking/finance sector... need advice...

Good pay, banking get lesser than that. Not talking abt traders, RMs, sales etc. So you should stay put.

Originally Posted by Unregistered

Well engineer in DSTA, those male(with NS), fresh local grad

1st class getting 3880
2nd upper getting 3580.

I do believe that after 5 years with at least 1 promotion, they should hit high 4K to low 5K salary per month, well excluding all bonus!!!!

I do have friend's brother working in ST engineering group, despite also a degree holder, after working in ST for 10 years, only getting around 4.1K/mth!!!

I confirm with ST engg salary. DO NOT join ST engg and waste yr time if u r fresh grad. It's a place for relax and retirement, not for good and hard and ambitious engineer. Ask around current or former emplyees and they will confirm this.

Originally Posted by financepil

Thanks mate.Wise advie for me to consider.After completeing my Engineering degree gonna grab a engineer job first(cos it's tough to find a finance job ) mean while planning to do CFA qualification and sit for Dec exam hopefully after level 1 would seek for some finance job!!! and will continue doing level 2 & 3 !!!!!
What kind of FO jobs do u recommend for me to consider given that im a engineering grad(part time degree) good with no's/stats/maths thou!!!

Hi, actually I also want to take CFA course and switch career from eng to finance. You studied CFA Level I in kaplan? Can you share some information about CFA level I? Thanks

Originally Posted by Unregistered

Good pay, banking get lesser than that. Not talking abt traders, RMs, sales etc. So you should stay put.

Issit? I have 6 years experience and drawing ~$5,400 a month, bonuses around 3 months, annual leave of 24 days..Not a trader, RM or front office role either..