Graduate/Entry level Banking & Finance jobs

[xarius]

Hi all,

My girlfriend (she's Thai) is graduating soon with a Masters in Finance from a reputable UK university, and is planning to find a graduate/entry level job in Singapore, preferably in business management or finance.

She's been applying to the major local and international banks for internships and graduate programmes but has not gotten any response. Currently, the plan is to apply for the work holiday pass and maybe do an internship in a bank before hopefully converting it to a full-time position.

I've searched this forum for similar cases from years ago which I've read saying it may be practically impossible to find an entry level job, but I'm hoping since then someone else might have some advice for finding such jobs or internships. For example, are there any companies that have been willing to take in foreign fresh grads, or recruitment agencies who are partial to finding jobs for foreign graduates? Or might it be better to email straight to HR to inquire about available positions? I'd love to hear about the job seeking experience and advice of anyone who was in a similar position if any.

[Strong Eagle]

It will be impossible for her to get an entry level banking job, and the reason is simple. Those jobs are reserved for Singaporean citizens who have graduated from university. To give such a job to a foreigner would be one less job available to a citizen, and Singapore isn't going to let that happen.

Edited to add: If she really wants to get to Singapore in the banking business, then she should hook up locally with a multi-national bank, get on the executive fast track, and request a posting in Singapore. Big MNC banks that hire lots of locals usually get whatever EP's they want, approved.

[Girl_Next_Door]

If her results are good, another possibility is to apply for Management Associate Programs. The bank I work in, has quite a reasonable number of MAs from Asean countries. Just submit to all the banks with MA programs and see what happen.

[okonu]

Yep - no chance. All such jobs come with caveat that need right to live in the country.

Best bet - apply for graduate trainee job with MNC bank with big Asia presence (Standard Chartered/ HSBC/ Citibank are the obvious ones) and if accepted, after the training programme lobby for jobs in Singapore branch.

Or apply for graduate jobs with Thai banks, and again, when have enough experience, apply to work in their SG offices.

Or either of the above, and once you have enough experience start applying for jobs in Singapore. (probably 5-7 years experience)

Another option, if you are citizen, is get married and then, after she gets PR, is eligible for such jobs in SG

[PNGMK]

Why limit it to banks? a lot of MNC's use finance people and have internships for those with good finance degrees.

[EdwardHend]

Some companies are into hiring for contractual in banking industries, with this trend, freshers and interns might have a good spot. Overall the hiring trend for contracting within banking and financial services remain relatively active, with many organisations looking for contractors within the compliance, KYC, settlements, relationship management and financial/regulation reporting spaces.

Source: most in-demand contract banking talent.

[Strong Eagle]

Some companies are into hiring for contractual in banking industries, with this trend, freshers and interns might have a good spot. Overall the hiring trend for contracting within banking and financial services remain relatively active, with many organisations looking for contractors within the compliance, KYC, settlements, relationship management and financial/regulation reporting spaces.

Source: most in-demand contract banking talent.

a) These jobs are going to go to Singapore citizen locals before any one else.
b) The gahmen has been coming down hard on contractors because it breaks up the career path possibilities for those entering the work force.

[Barnsley]

Some companies are into hiring for contractual in banking industries, with this trend, freshers and interns might have a good spot. Overall the hiring trend for contracting within banking and financial services remain relatively active, with many organisations looking for contractors within the compliance, KYC, settlements, relationship management and financial/regulation reporting spaces.

Source: most in-demand contract banking talent.

a) These jobs are going to go to Singapore citizen locals before any one else.
b) The gahmen has been coming down hard on contractors because it breaks up the career path possibilities for those entering the work force.

Isn't there a move towards the contract model though?

[okonu]

By definition no-one will hire a fresh grad as a contractor. You want someone who is already competent & trained to fill a specific need.

Didn't see that she has already failed to make an impression with the int'l banks graduate programmes. Maybe apply to accountancy firms in Thailand? They always need fresh audit meat

[bgd]

Isn't there a move towards the contract model though?

For cheap labour, yes, but only in Asia, contractors are highly paid in other business centres. It always used to be an IT thing but now looks to be quite common across business roles too. It's a short term cost saving measure that erodes knowledge and skills over the longer term. Just like the outsourcing model.

And what Okonu says, you need experience.