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Get PEP, then go to Singapore to start the job hunt - ?

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G4tsby
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Get PEP, then go to Singapore to start the job hunt - ?

Postby G4tsby » Thu, 30 Aug 2012 9:12 am

Hi,

I was hoping you guys could offer your views on whether it is a good idea to get a PEP and come over to Singapore then look for a job, as opposed to trying to secure a job from overseas (Australia in my case).

I seem to meet the criteria for gaining a PEP, so let's just assume that I will be successful in gaining a PEP (of course, in reality this would not be a given).

Briefly, I currently (for the last 4 years and counting) work in the finance sector as a senior business analyst, in which I have experience in corporate transactions and financial modeling. Prior to this I spent 3 years at a 'Big 4' Accounting firm, where I gained my Chartered Accountant designation (I think you guys refer to this is as CPA). I am currently studying towards a Masters in Applied Finance, with 1 year to go.

I would be looking to get a job in the financial services sector - ideally a global bank, or perhaps in industry in the strategy / corporate finance side of the business (as I am currently).

Do you think that actually being on the ground in Singapore, PEP in hand, would give me a better chance of landing a decent job than applying from overseas? My thinking is that I already have approval to work, and I am already there in Singapore (easier to interview and can start immediately), therefore I would be a more attactive candidate in this case.

Also, in this case, would I still be disadvantaged compared to a local with a similar skillset? Or could it be more appealling that I come with 'international experience' (read 'outside of Singapore'), having also studied at a reputable university in Australia? I have seen on a few posts that many firms just want to hire locals - does this include MNC firms?

Finally, are there any alternative paths I could consider??

Apologies for the lengthy post, but beers on me if the information provided leads to landing a decent job over there!! :lol:

Thanks very much in advance.

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nakatago
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Postby nakatago » Thu, 30 Aug 2012 9:30 am

Yes.

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sundaymorningstaple
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Postby sundaymorningstaple » Thu, 30 Aug 2012 10:21 am

concur.

G4tsby
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Postby G4tsby » Thu, 30 Aug 2012 1:33 pm

Thank you fr your concise responses, very helpful. 8-)

I am seriously considering starting my job hunt early next year around Feb-Mar. I have read on other posts that the last few months of the year are a difficult time to look for jobs due to bonuses in Dec, and will improve in the earlier months the following year -- that is good, as this suits my plans.

What I am wondering however, is approximately how long it would take from application to potential approval of a PEP. If I want to start my job hunt say at the start of Mar, then can I apply early next year for the PEP, or should I allow more time for processing and apply in Nov-Dec this year?

Additionally, if a PEP is approved, when does the 6-month time limit commence - when it has been issued, or when you enter Singapore?

I've been to Singapore recently and it seems like a great place to advance a career, particularly if you are looking to base yourself in the region over the mid to long-term.

Thanks and looking forward to your responses.

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zzm9980
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Postby zzm9980 » Thu, 30 Aug 2012 1:59 pm

PEP approval can take anywhere from 5 business days to 8 weeks. If approved, you'll be sent an IPA - In-principal approval letter. Once you go to the MOM EP Service Center with this IPA, you'll be issued your PEP. Six months starts from that date.

G4tsby
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Postby G4tsby » Thu, 30 Aug 2012 2:14 pm

zzm9980 wrote:PEP approval can take anywhere from 5 business days to 8 weeks. If approved, you'll be sent an IPA - In-principal approval letter. Once you go to the MOM EP Service Center with this IPA, you'll be issued your PEP. Six months starts from that date.


Great thanks for that.

Does the IPA have an expiry date i.e. how long do you have before you have to take it into the MPM EP Service Centre and exhange it for the PEP?

For example, could I apply for the PEP now and potentially receive the IPA between now and the end of Oct, then exchange it for a PEP next Mar?

Thanks buddy

cw1483
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Postby cw1483 » Thu, 30 Aug 2012 2:32 pm

The PEP IPA letter gives you 180 days from the date of approval to remain valid. Example, my letter is dated 29/05/2012 and has the wording "We are pleased to inform you that this application has been given an in-principle for 60 months, and is valid till 25/11/2012."

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Postby cw1483 » Thu, 30 Aug 2012 2:34 pm

For example, could I apply for the PEP now and potentially receive the IPA between now and the end of Oct, then exchange it for a PEP next Mar?

Yes, if you apply now and get approved within a week, you can potentional activate it in March 2013.

G4tsby
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Postby G4tsby » Thu, 30 Aug 2012 5:54 pm

Ok so the IPA is valid for 180 days from the date of the letter, should I receive one.

Very useful - thanks for the responses.


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