From civil service to banks - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




From civil service to banks

Reply
 
Thread Tools
  #1 (permalink)  
Old 28-07-2010, 10:34 PM
Senior Member
 
Join Date: Feb 2010
Posts: 67
alwaysnforever is on a distinguished road
Default From civil service to banks

Hi all

I am currently in the gov sector, fresh grad. I am ultimately interested in the world of finance and banking, and I would prefer to work in that sector.

Before you all chide me for thinking of jumping so soon, I just want to know if there is anything I should know if I want to make the transition to the banking/investment world. I don't have good qualifications, just a 2:2 paper. As such I would believe that most graduate programes are probably out of my league?

does experience in the civil service mean anything to the banks? how long before I should try my luck in the finance sector, before i get too old? Any people who transitioned from civil service to banks here?

Reply With Quote
  #2 (permalink)  
Old 29-07-2010, 12:18 AM
Unregistered
Guest
 
Posts: n/a
Default

hi. a little more background will be good. What's your current job like. What's your knowledge of finance. Why do you want to work in the finance industry.

Reply With Quote
  #3 (permalink)  
Old 29-07-2010, 07:16 AM
Senior Member
 
Join Date: Feb 2010
Posts: 67
alwaysnforever is on a distinguished road
Default

my current job is related to strategic research and corporate planning. well i dont know the very nitty gritty details about finance, i took 1 finance module, and am an economics major that's all, but i am trying my hand at investing, and learning how to read the annual reports.

out of all the industries, finance and investment is the one that attracts me the most. i like numbers, i like doing research and analysis, and i like the cash

Reply With Quote
  #4 (permalink)  
Old 29-07-2010, 03:29 PM
Unregistered
Guest
 
Posts: n/a
Default

Do your CFA
Reply With Quote
  #5 (permalink)  
Old 31-07-2010, 11:58 PM
Unregistered
Guest
 
Posts: n/a
Default

On the contrary, i don't think you should do your CFA. Rather, i think you should just apply to any financial institutions. They will sponsor your CFA anyway if need be. Because you are a fresh grad, banks will train you from scratch. But the difficult part is getting in.

If you like analysis, it's best to get into risk management or research. Everyday is spent looking at industries, companies and analysing each aspect of the business. A fresh grad in a good offshore bank can earn a pretty good starting salary.

Go apply to the different banks, do your homework by looking at forums and websites about different banks, cultures and what the jobs are like. Last but not least, make sure you keep up to date by reading bloomberg, financial times and the financial pages of the newspapers.
Reply With Quote
  #6 (permalink)  
Old 01-08-2010, 01:15 PM
Senior Member
 
Join Date: Feb 2010
Posts: 67
alwaysnforever is on a distinguished road
Default

but it seems the banks only want people with financial background or financial working experience, both of which I do not have in my current work.

is there any other way to market myself to make my resume more attractive? should I ask for projects within my job now to work on my qualitative and analysis part rather than the others?
Reply With Quote

  #7 (permalink)  
Old 02-08-2010, 12:07 AM
Unregistered
Guest
 
Posts: n/a
Default

You can either keep applying for their MA programs or get a Master in Applied Finance from an overseas university.
Reply With Quote
  #8 (permalink)  
Old 04-08-2010, 11:36 PM
Unregistered
Guest
 
Posts: n/a
Default

It may be easier to first get into the bank to do operations or something less analytical.
Most research or risk positions require the person to have a finance background. Otherwise, it will be very tedious just trying to learn the ropes.

Read up finance on your own or take a Masters in Finance. That seems to be the better way.
However, it is costly and time consuming. Otherwise, you can start off in a smaller bank and work your way up. Either way, it is going to take alot of time and effort. At the end of the day, you must ask yourself if this is what you really want. Money and prestige is not everything in the world, my friend.
Reply With Quote
  #9 (permalink)  
Old 05-08-2010, 02:54 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Money and prestige is not everything in the world, my friend.
Better to be poor, but proud.
Reply With Quote
  #10 (permalink)  
Old 06-08-2010, 08:37 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by alwaysnforever View Post
Hi all

I am currently in the gov sector, fresh grad. I am ultimately interested in the world of finance and banking, and I would prefer to work in that sector.

Before you all chide me for thinking of jumping so soon, I just want to know if there is anything I should know if I want to make the transition to the banking/investment world. I don't have good qualifications, just a 2:2 paper. As such I would believe that most graduate programes are probably out of my league?

does experience in the civil service mean anything to the banks? how long before I should try my luck in the finance sector, before i get too old? Any people who transitioned from civil service to banks here?
I used to work for the government but now in a finance-related field. (VC/PE) took me a while to get there, through a combination of luck and lots of perseverance. Here's what I did.

1) I did my CFA and took a distance learning MBA.
2) I look for jobs within the government sector that gave me relevant 'business' experience or anything that requires me to deal with the private sector directly.
3) I did not complete my distance learning MBA as the degree was not recognized and hardly matter to my promotion and future job prospect. It did however, gave a good grounding on the key business knowledge that I lack as a non-business admin graduate. More importantly, it helped me fine tune what I was looking for.
4) I managed to switch to a relevant sector, did quite well and was sponsored to do another MBA from a better university in US. (hint: at Boston)
5) I eventually work for a large bank based out in HK.

my only advice to you is to clarify what you are looking for. Buy-side or sell-side? do you want to be an analyst? investment banker? private banking? private equity? debt? quantitative analyst? risk management? etc If you start with a vague idea and simply being drawn by the allure of the finance/banking sector, chances are, you will be wondering in the dark for a while and makes it more difficult to get there.

All the best!
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Compare civil service salary starrxu Income and Jobs 15863 Today 05:23 PM
Civil Service Pay - Director level curious Income and Jobs 149 15-06-2021 09:35 AM
Civil Service Salary Scales keith_3891 Income and Jobs 5 09-04-2011 11:45 PM
HK civil service salary hike Salary.sg Income and Jobs 5 21-11-2008 11:57 PM
Civil Service Bonus mid-2008 Salary.sg Income and Jobs 6 15-07-2008 01:40 AM

» 30 Recent Threads
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
5,695 Replies, 3,338,394 Views
How is life as a doctor in... ( 1 2 3... Last Page)
6,086 Replies, 2,883,385 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
471 Replies, 270,420 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,275 Replies, 985,400 Views
how to earn money at this age? ( 1 2 3... Last Page)
43 Replies, 72,195 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
397 Replies, 191,373 Views
Compare civil service salary ( 1 2 3... Last Page)
15,863 Replies, 11,540,990 Views
td securities technology graduate... ( 1 2 3... Last Page)
36 Replies, 8,353 Views
GovTech ( 1 2 3... Last Page)
4,126 Replies, 1,662,118 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,846 Replies, 4,161,766 Views
GIC (Government of Singapore... ( 1 2 3... Last Page)
362 Replies, 646,759 Views
Talent Management vs Marketing,...
5 Replies, 3,722 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
1,449 Replies, 1,087,161 Views
If you can't find a company here... ( 1 2 3... Last Page)
130 Replies, 38,443 Views
IMDA (under MCI) ( 1 2 3... Last Page)
865 Replies, 408,123 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
387 Replies, 418,420 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
11,615 Replies, 4,185,645 Views
Constituency Manager (People... ( 1 2 3... Last Page)
962 Replies, 750,270 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,503 Replies, 4,171,585 Views
Lawyer Salary ( 1 2 3... Last Page)
20,125 Replies, 9,289,481 Views
Career as Teacher ( 1 2 3... Last Page)
9,363 Replies, 5,653,503 Views
Engineer Pay ( 1 2 3... Last Page)
653 Replies, 403,539 Views
Roles in accenture singapore ( 1 2 3... Last Page)
6,570 Replies, 1,925,851 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,862 Replies, 2,704,693 Views
NTU (non-faculty) ( 1 2 3... Last Page)
140 Replies, 190,169 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,584 Replies, 869,950 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
640 Replies, 277,225 Views
Dyson ( 1 2 3... Last Page)
33 Replies, 27,032 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
269 Replies, 306,633 Views
ST Electronics ( 1 2 3... Last Page)
3,448 Replies, 1,300,549 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 08:42 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2023, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2