Visas for non-degree holders

[newsense]

Hi everyone, just a couple of questions... I currently in the derivatives sector for a large investment bank within the UK. Although I do not have a university degree, I have worked in the finance industry for around 2 1/2 years and my current role is classed as a professional role. Can anyone tell me if I have sufficient experience to start looking for work in Singapore, or will I come across problems from the outset due to my lack of degree, in terms of obtaining a visa etc.?

Any information you can give me would be greatly appreciated! Thanks!

[newsense]

Hi, me again!

Sorry, just to add to that, if people do think I have a realistic chance of finding employment in Singapore, can anyone point me in the direction of any derivatives/investment banking opportunities or any companies that might be able to offer me assitance?

Many Thanks

[spaul]

Newsense,

I will try to shed some light on this subject for you as I just recently asked the same question and am in a similar situation as you (no degree). First of all, I am assuming by your post that your intent is to not go with your company to singapore and to try to find a new job there. Apologies if I misunderstood but I think this response applies either way.

The way it works in Singapore (again, I'm not an expert. Just repeating what I have found) is that the Singapore goverment is interested in attracting foreign talent in to Singapore. In saying that though, the foreign talent (i.e. You in this case) must demonstrate the ability to do a job that a local Singaporean can't.

In terms of approval on visas, there are certain criteria that need to be met before it can be approved. Your salary must be of a certain level for starters. The lower the salary, the stricter the other requirements such as experience, position, academic qualifications become.

In my situation, I am moving with my company, taking on a regional role, have 15+ years of experience and have been with my company for several years. I have in-depth knowledge of how my company works and am taking up a specialized role that can't be easily filled by someone local. I was therefore approved for an employment pass.

In your situation however, you have only 2 1/2 years of experience (assuming with your company) but no other industry experience. You are also in a market where there are a LOT of others that have more experience. This makes it a bit more difficult for you to differentiate yourself hence it will be more difficult for you to find a role. Potential employers will have to consider the effort it will take to get you an employment pass.

My recommendation is that if you are keen to move to Singapore, you try with your company. You work for a large investment bank so they may have more pull in getting an EP for you and you can show that you have knowledge of the company. My only concern for you is that 2 1/2 years of experience and no degree doesn't look very good on paper.

I hope this information helps.

[ksl]

Yes it is a pitty, that governments discriminate against people without a degrees. I'm pretty sure Richard Branson never had time for his degree either, while he was building his empire.

Governments don't like non conformists, although if you have enough money, I'm sure they would open the doors and make you most welcome.

It's typical, although if you can convince them on paper, through experience alone, it is possible.

They are also well aware that degrees, don't produce brains or creativity, so a few references from any practical experience of increasing outstanding productivity or revenues does help, not all have the skills to make money, so your portfolio does help, even above the amount of years you have been employed, Singapore is a money loving Country, so if you can bring your trade secrets and clients, maybe your in with a chance, they the government havenothing to lose, you have!

So practical skill and experience is worth its weight in gold, degrees are not worth so much, although Asians do put more money into a foreign degree, kind of status symbols, thats what they like.
Although I don't suppose they would want another Nick Leeson running around http://www.riskglossary.com/link/barings_debacle.htm

[newsense]

Thanks guys, that's really helpful. I did think that lack of experience may prove to be an issue, although I am hoping the fact that the position I am in at the moment is quite specialist will work to my advantage in that respect.

As it stands I am in no rush, I am currently working towards obtaining my IAQ's (Investment Administration Qualifications) in the UK, which I intend to finish before thinking about moving. Hopefully those will help my cause a little as well.

The company I am working for does indeed have premises in Singapore. It is not an avenue I have explored as yet, but I will certainly look into it in due course.

Thanks again for your advice!

[uk-kiwi]

having worked in the UK for a large IB myself, i can tell you that your lack of experience and degree may not be that much of an issue depending on what you are currently doing. i've moved here because of my husband but have already been asked to work in the industry because of a lack of locals with the right kind of experience. they look great on paper but because of the sudden surge in the market some companies had problems getting the right experience. IAQ - so you are in Deriv OPS right? What kind of role? Check out Robert Walters Singapore website and you will see that there's always loads of jobs for documentation & settlements people as well as controllers. of course if your company has a great presence here and they like you, then try them first as they may well pay for your relocation expenses.

[SwervioBurlisconi]

Hello, Similar question. I am have just applied for an Employment Pass so that I can Manage our new office in Singapore. I have no degree but will be earning a monthly salary in excess of S$7.5k. I have 6/7 years relevant industry experience and the have backing of an international company. From our market research there is limited competition. How do you rate my chances for getting approval? Thanks.

[staticrealm]

Newsense,

I will try to shed some light on this subject for you as I just recently asked the same question and am in a similar situation as you (no degree). First of all, I am assuming by your post that your intent is to not go with your company to singapore and to try to find a new job there. Apologies if I misunderstood but I think this response applies either way.

The way it works in Singapore (again, I'm not an expert. Just repeating what I have found) is that the Singapore goverment is interested in attracting foreign talent in to Singapore. In saying that though, the foreign talent (i.e. You in this case) must demonstrate the ability to do a job that a local Singaporean can't.

In terms of approval on visas, there are certain criteria that need to be met before it can be approved. Your salary must be of a certain level for starters. The lower the salary, the stricter the other requirements such as experience, position, academic qualifications become.

In my situation, I am moving with my company, taking on a regional role, have 15+ years of experience and have been with my company for several years. I have in-depth knowledge of how my company works and am taking up a specialized role that can't be easily filled by someone local. I was therefore approved for an employment pass.

In your situation however, you have only 2 1/2 years of experience (assuming with your company) but no other industry experience. You are also in a market where there are a LOT of others that have more experience. This makes it a bit more difficult for you to differentiate yourself hence it will be more difficult for you to find a role. Potential employers will have to consider the effort it will take to get you an employment pass.

My recommendation is that if you are keen to move to Singapore, you try with your company. You work for a large investment bank so they may have more pull in getting an EP for you and you can show that you have knowledge of the company. My only concern for you is that 2 1/2 years of experience and no degree doesn't look very good on paper.

I hope this information helps.

In your case spaul, that's possible, moving with the company here in Singapore; but i think with Newsense case and mine it's a different story.

I was suppose to sign a job offer from M1, but then when i told them i dont have my degree, they said applying for S Pass wouldnt be possible because the minimum requirement for that permit is a diploma.. They said they will try to change the package they have for me and apply Work Permit instead of S Pass.. I dont wanna keep my hopes up..Its like NO DIPLOMA, NO WORK here in Singapore.. =(