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22-04-2012 01:16 AM
blackdragon Depends on the environment, but don't get too 'eco-friendly' else:

Unemployed 53-year-old Singaporean wtih NUS engineering honours degree turns to scavenging trash to feed his family

Unemployed NUS graduate decides to become “Karung guni” man Editorial TR EMERITUS


An engineer who was retrenched in 2007 had to resort to scavenging for rubbish to make a living and support his family of 7.

53-year-old Mr Koh is an engineering graduate from NUS with honours. After working for some years, he finally landed himself a top job in a big company in 1993. Subsequently, he worked there for the next 14 years till 2007 when he was laid off. Although the company wrote him a good testimonial, it wasn’t easy for him to find another job. After he was laid off, there was a change in his outlook and he began to centre his life around his family more than his work.

He has 4 daughters, ages from 5 to 9. His mother lives with him. Together with his wife and himself, he has to support a family of 7. So, why did Mr Koh decide to get into rag and bone (“karung guni”) business after he was laid off? As jobs were hard to come by especially for people at his age, he said that he wanted to get into eco-friendly business.

“Some of the thrown-away electrical appliances only have minor problems. It’s a waste to see them being thrown away. After I repair them and clean them up, they are as good as new.”

In fact, the fridge, kettle, fan, etc in his house were all salvaged from the rubbish dumps. He has been picking rubbish for the last 3 years. Every morning, he will get up before the sun is up. Wearing a T-shirt and a pair of shorts, he will be the first to go to the dump sites to look for good items to pick.

“I start work at 5am every morning. I will go to the rubbish chutes and HDB corridors to look for discarded items. I have to often endure cold stares from some of the residents.”

He recounted that sometimes, some people who saw him pushing a cart of discarded items would immediately cover their noses and avoid him. Others would throw sarcastic remarks at him.

“They thought I’m an illiterate who goes around picking disused items. I’m a university graduate!”

As to how much Mr Koh is earning from his rag and bone trade, he declined to say. He only said that he makes enough to support his family.

Before Mr Koh was retrenched, he disclosed that he was making $8,000 a month with bonus up to 5 months. He said that few months before he was being laid off, he whistle-blew on certain procedures in the company for being not proper. He felt that this might be the reason he was laid off.

“On the day I was laid off, it was raining and only 1 person from the company came out to see me off. It was pretty gloomy.”

Mr Koh recounted another incident. On one of the mornings, he was pushing his cart of loaded “junks” in a HDB estate at Toh Guan Rd. He stepped away to get his bike for a moment. When he returned, the whole cart and “junks” disappeared. At the time, there was a Bangla cleaner around. Mr Koh saw the Bangla cleaner came out from the utility room. The Bangla denied seeing his cart. When Mr Koh wanted to enter the utility room to check, the Bangla told him there was no key. So, Mr Koh had no choice but to call the police. The police came and asked to see the supervisor. The supervisor came and opened the door to the utility room. Mr Koh’s “missing” cart together with the items were found inside the room.

The supervisor after questioning the Bangla cleaner, took out $100 and gave it to Mr Koh, hoping that Mr Koh would let things rest. Mr Koh said, “After being busy for one whole morning, I was insulted by this. I feel very frustrated.”
29-03-2012 08:20 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Wah... May i know you qualifications? Were you a first class honors engineering graduate.. then you went for finance masters degree?? or you got CFA?
Just an oversea 1st class Hons eng. degree + local MBA (finance) specialization. Never manage to pass my CFA level 1 (tried once)..

My job isn't too finance centric as back office has non finance function. That's when you be the best at what you do and demand for such pay.
29-03-2012 06:31 PM
Unregistered Wah... May i know you qualifications? Were you a first class honors engineering graduate.. then you went for finance masters degree?? or you got CFA?


Quote:
Originally Posted by Unregistered View Post
I don't know about earning that amount in 2-3 years but I am in the back office with 6+ years experience and I am drawing almost 9k. I am with an American bank but not in the IB sector. I have been headhunted by major IB include GS and JPM but staying put for now while I gain exp. So drawing higher pay is very much possible. Why people move out of back office? Because the other side is always greener.....
29-03-2012 05:56 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Are you sure back office in banks pay 5 to 6k after 2 to 3 years? This isn't what I have heard from friends. What I have heard is banking jobs are very volatile and unstable now. If you check on salary survey, earning 5 to 6k at the age of 30 years old will put you on the top 20% percentile of the population. There are so many banks and back offices in Singapore. If I can be the top 20% of the population by working in the back offices, why are so many bankers struggling to get out of back offices to move into middle or front offices? I think you have to digest all the info and think carefully about what is realistic. Don't just aspire to join the banks because you hear from others that you can make more money in this industry. The truth is there are more people who just make an average living than people who earn alot of money. It is true that engineering is a tough subject to score. But you should know sometimes whether is it easy or difficult to score also depends on your talents and interests. If you are someone strong in maths and science but weak in languages, you will find majors like law and history tough and engineering relatively easier. Likewise if you are weak in maths and science and strong in languages. If I were you, I would choose to study a subject that I am confident I can score well and is relatively easy to find jobs. Whether you succeed in the future or not all depends on your abilities.
I don't know about earning that amount in 2-3 years but I am in the back office with 6+ years experience and I am drawing almost 9k. I am with an American bank but not in the IB sector. I have been headhunted by major IB include GS and JPM but staying put for now while I gain exp. So drawing higher pay is very much possible. Why people move out of back office? Because the other side is always greener.....
28-03-2012 09:40 AM
Unregistered I really wonder why there are still sillly engineers standing along production lines in the factories for 2k a month... Work like "s.h.i.t"... Salary also like "s.h.i.t"....... Hope they see the light soon....

Quote:
Originally Posted by Unregistered View Post
A construction underwriter with regional experience is been offered a package of $200k pa in one of the job portal recently.
28-03-2012 12:11 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
I am in the general insurance segment of the Financial service sector.


Every project requires insurance coverage. Underwriters are needed to underwriter the risk. Claim handlers are required to handle any loss claim. There is a huge demand for engineering claim and underwriting personnel. Just see how much construction, power plant, infrastructure work, manufacturing plant, factory project in the region esp with rebuilding work in Thailand (flood), Japan (natural diaster) , Malaysia and Vietnam(construction boom and industrial development)

Construction underwriter and claim handler require the technical knowledge which is lacking from a non-engineering graduate. Who knows technical engineering stuff better than an engineer himself?

Started with a course in diploma in general insurnce from SCI, ANZCII or ACII, or look out for opening such as loss prevention engineer, loss adjustor, risk engineer, engineering underwriting, etc.
A construction underwriter with regional experience is been offered a package of $200k pa in one of the job portal recently.
28-03-2012 12:09 AM
Unregistered I am in the general insurance segment of the Financial service sector.


Every project requires insurance coverage. Underwriters are needed to underwriter the risk. Claim handlers are required to handle any loss claim. There is a huge demand for engineering claim and underwriting personnel. Just see how much construction, power plant, infrastructure work, manufacturing plant, factory project in the region esp with rebuilding work in Thailand (flood), Japan (natural diaster) , Malaysia and Vietnam(construction boom and industrial development)

Construction underwriter and claim handler require the technical knowledge which is lacking from a non-engineering graduate. Who knows technical engineering stuff better than an engineer himself?

Started with a course in diploma in general insurnce from SCI, ANZCII or ACII, or look out for opening such as loss prevention engineer, loss adjustor, risk engineer, engineering underwriting, etc.
27-03-2012 10:31 PM
Unregistered Wow!! How did you switch field from engineering into finance??!!! Unless you mean you became an financial planner.. then for that anybody can switch.... Or do you really mean that you manage to hop into a bank?? Pls share with us how you managed to find your way... Thks..

Quote:
Originally Posted by Unregistered View Post
Am an civil enginnering graduate and had worked 2 years as an site enginner. Currently in the financial service sector.

The trick here is to work a couple of years as an engineer, learn as much as can, ask as many question from the old bird as possible, network with other trades in the course of work, and switch line - either new industry or vertical up.

Be mobile and take up new challenges.

Most friends continued to work hard in site and earned less than $5k a month.
Some moved up to project managers and earning $5-7k a month

Some took courses and become lawyer dealing with engineering law suits(Shortage of engineering background legal professional!!!). Some switch to engineering consultancy and earn reasonably good money. Some like me joined the finanical services, enjoyed good work life balance , and earned as much as the business and account graduates rumoured to have long working hours... ...
27-03-2012 08:52 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Am an civil enginnering graduate and had worked 2 years as an site enginner. Currently in the financial service sector.

The trick here is to work a couple of years as an engineer, learn as much as can, ask as many question from the old bird as possible, network with other trades in the course of work, and switch line - either new industry or vertical up.

Be mobile and take up new challenges.

Most friends continued to work hard in site and earned less than $5k a month.
Some moved up to project managers and earning $5-7k a month

Some took courses and become lawyer dealing with engineering law suits(Shortage of engineering background legal professional!!!). Some switch to engineering consultancy and earn reasonably good money. Some like me joined the finanical services, enjoyed good work life balance , and earned as much as the business and account graduates rumoured to have long working hours... ...
$5k to $7k is pathetic for a construction project manager, given their heavy responsibilities. Plus he will have to motivate a bunch of lazy morons (sad to say, construction sector can only attract riff raffs). Every engineer should try to follow your example and break out of the sector.
26-03-2012 09:01 PM
Unregistered Am an civil enginnering graduate and had worked 2 years as an site enginner. Currently in the financial service sector.

The trick here is to work a couple of years as an engineer, learn as much as can, ask as many question from the old bird as possible, network with other trades in the course of work, and switch line - either new industry or vertical up.

Be mobile and take up new challenges.

Most friends continued to work hard in site and earned less than $5k a month.
Some moved up to project managers and earning $5-7k a month

Some took courses and become lawyer dealing with engineering law suits(Shortage of engineering background legal professional!!!). Some switch to engineering consultancy and earn reasonably good money. Some like me joined the finanical services, enjoyed good work life balance , and earned as much as the business and account graduates rumoured to have long working hours... ...
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