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Finance Professionals - I need advice...

Discuss about getting a well paid job or career advancement. Ask about salaries, expat packages, CPF & taxes for expatriate.

nytosing2007
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Finance Professionals - I need advice...

Postby nytosing2007 » Thu, 18 Jan 2007 3:12 am

Guys -

Here is my situation. I am a US citizen in New York in my late 20's who has spent the last nearly 7 years at a top 4 US investment bank working in the areas of IT (previously, for nearly 5 years), and Quantitative Equity Strategy/Research (currently, for 2 years thus far). I believe I have a strong combination of Finance and Programming/DB skills that are desired for quant related Finance roles. My educational background consists of a Bachelor's degree from a top tier public US university with majors in Finance, International Business, and Computer Science. Additionally, I am presently a Level 2 candidate in the CFA program.

My exposure to Asia includes some 3 dozen trips out to Singapore and Indonesia in my lifetime. I also have a strong friends and family network in Asia, particularly Southeast Asia, including family connections with the Indonesian government. My exposure and educational experiences have provided me with advanced knowledge of Bahasa/Malay, and a strong desire to work in Asia.

My firm has a small presence in Singapore, limited to Fixed Income Sales and Operations/IT activity. We are not expected to expand into other areas such as Equities in Singapore for at least another 2 years. As I am eager to get started with a career in Asia, I would like to know your story as to how you made the leap to Singapore (for those of you in a similar position to me). With that, I also have the following questions:

1. How should I go about searching for a suitable position, and what sort of package can I expect (Local, etc)?

2. How would you best describe the quality of life, both personal and professional, vis-a-vis your home country?

3. How difficult was your adjustment to Singapore? Though I have not lived there, I have spent a great deal of time there - was recently there for 8 days 2 weeks ago.

4. What experiences have you encountered while living/working in Singapore which you would not have otherwise encountered in your home country?

5. What is the typical corporate culture like, specifically in Investment Banks there? My bank is rather stuffy and formal in its operation.

6. How long did it take you to make the move, and what sparked your interests into moving to Singapore?

7. Based on your experience or observation, how different are career advancement prospects for foreign hires compared to local hires?

Many thanks for taking the time to respond to my post.

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Makan24-7
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Postby Makan24-7 » Thu, 18 Jan 2007 3:43 am

You're best served networking on the Street for positions in Asia/SG. Better than doing it over here. Recruiting norms do differ a lot. But if you must, do it through the top exec search firms and preferably through the NY offices. For the search firm rankings, visit this URL http://www.vault.com/surveys/execsearch/executive.jsp

I take it you're currently a 2nd/3rd yr analyst or perhaps 1st yr associate? Study the tax situation carefully. You are exempt from US Federal taxes up to US$80k and you have to pay tax on amounts exceeding that. Singapore and the US have no tax treaties so you will also be subject to local taxes which are much, much lower than US taxes but double taxation is always a burden so that must be worked in yr package.

Asian management styles still differ a lot from the States. It doesn't get much worse since it's banking anyway but it sure isn't any better.

Bottomline is, come as a international assignee or expat. Try to avoid becoming a local hire.

All-in-all, life in SG is much more convenient and fun than most cities I've been to and lived in. Just take into consideration the points I've raised above.

tfang
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finance positions

Postby tfang » Thu, 25 Jan 2007 1:11 am

hi,
Your profile sounds very strong. You should not have any difficulty looking for a well paying job in Singapore.
My friend is trying to fill some positions with top notch banks, and if you are keen, would you like to send over your cv, or maybe post a reply?
catch up with you later.

ant
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Postby ant » Tue, 17 Apr 2007 4:47 pm

Hi all,

Need some advice as well. I'm based in NZ, looking to move to Singapore permanently. I've had over 10 years retail banking experience in NZ, and had a short stint with Deutsche Bank as a Relationship Manager/Private Banker a couple of years ago. I have a BCom (Finance), and MBA. I'll be a CFP holder in a couple of month's time. I've had 3 years+ experince working as a investment advisor/financial planner.

My situation is that I'm looking to find private banking role, either as a RM or investment counselor or find a role in investment banking.

I don't hold much hope using online jobsite or recruiting firm, however, trying to find Singapore contacts from NZ is a long process. I hope some of you can point me the right way or right person. I'm happy to email my CV as well. Thank you in advance.


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