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Topic Review (Newest First)
11-10-2019 11:09 PM
Unregistered It should be based on your last drawn pay. But still depends on what perm role you are applying to, or whether that perm role is worth your last drawn pay.
11-10-2019 08:07 PM
Unregistered Hi, i am currently on my 2nd contract job doing AML, salary is in mid 4s. If i apply for a perm job, will they base my salary on my contract pay?(Have no bonus).
26-03-2019 11:24 PM
samantha_wong
contract role vs perm role in a local bank

Hi,
I interviewed in a local bank for a perm role. Now the bank is turning around and telling me that they can offer me a direct contract but not a regular role. They have constraints on budget, headcount, etc. They can get approvals for a direct contract but not a perm role.
Is this true? Perm role or contract, they still need budget approval and headcount approval. Who are they kidding?
Or is there something I am missing?
Thanks,
25-09-2017 02:10 AM
Unregistered
Regarding Contract Role in AML Investigation

Hi, I'm working as a AML Investigation contract executive currently at a bulge bracket bank. I am interested in risk management and investment management. May I have any advises from you guys about the career path progression possibility? Is it possible for me to leverage this experience in my CV? Thank you.
01-08-2017 10:52 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
You can be securing a perm role 3 ish

Or a contract role, able to keep switching every few months.
Each switch is probably higher than the previous co.

Ultimately land into a Ang moh bank, get converted to perm.

the latter course you be drawing close to mid 5 given how generous the angmoh bank are. Then jump to Asian bank to secure base with high bonus


In the former route which I took, I only get small increments that are nothing to shout about. And once your first pay is low, there's nothing much you can do when negotiating with those fk HRs
What would be the best way to increase your base in a perm role? Switch banks every 1-2 years? Would perm positions be more easily obtainable for experienced hires?
31-07-2017 08:23 AM
Unregistered I am also taking up a contract position, but in a hospital. The salary I am offered is only a 1.6% (yes, one point six percent) increment of my previous salary. Is this normal? Or am I getting shortchanged?
27-07-2017 09:47 PM
Unregistered Are contractors entitled to OT pay?
27-07-2017 08:22 PM
Unregistered You can be securing a perm role 3 ish

Or a contract role, able to keep switching every few months.
Each switch is probably higher than the previous co.

Ultimately land into a Ang moh bank, get converted to perm.

the latter course you be drawing close to mid 5 given how generous the angmoh bank are. Then jump to Asian bank to secure base with high bonus


In the former route which I took, I only get small increments that are nothing to shout about. And once your first pay is low, there's nothing much you can do when negotiating with those fk HRs
20-11-2016 06:43 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
I am another poster who posted before. You just got to keep applying the roles and think of how you can value add to the company as a fresh grad. Salary negotiation should be the last priority since you have no power to do so. It really does not matter whether its above 3K or not, which I think a lot people like to use this as a salary benchmark. Contracts should really be the last resort.

I joined a Asian bank 4 years ago as a perm when there are not so many contracts. I have since left the bank. My ex colleagues who stayed have progressed to be team leads etc. They were telling me that there are more contracts now and it's subjected to renewable (not conversion). We are thankful that we joined earlier as a perm staff and progressed from there. So you really got to apply the perm roles.
I am the poster who wrote this. I do agree with what the rest of the posters said. Don't just apply to the banks. Don't be restricted by your books or grades.
20-11-2016 06:28 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
I think you need to be realistic about the situation. You seem to have a misguided impression of what's happening in the banking world.

Perm headcount freezes have been happening since early last year across most banks. Even contract renewal is a 50:50 chance now as downsizing and offshoring is happening everywhere. You will be lucky to even secure a renewal after 6 months, banking everything on them offering you a perm position after 6-12 months is just asking for trouble.

Sure, there will always be the top 10% who are really good, lucky to get good connections etc who make it, but this is more strike 4D than anything. Reality is your job search in banking world so far after 3 months has been largely futile, this is the clearest indication of what's happening in many industries in Singapore. The good old days are gone and the new norm is setting in.

Top scholars and ivy-leaguers will always have plenty of opportunities offered by MNCs and banks, but normal people need to be flexible and not limit their options unnecessarily.
Agree on this.

Notice many sg grads with average grades only aim for banks or mncs like google, facebook, apple... then blame the school or gov when they cannot get a job.
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