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Working in Singapore

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

alex_pag
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Working in Singapore

Postby alex_pag » Tue, 25 Nov 2008 9:49 pm

Hello, I am currently studying financial economics in Sweden, and I'm interested in working in Singapore. Would it even be possible for me to get a work permit right after I get my degree, or would I need to have experience, advanced specialist knowledge, etc?

Also, how important is seniority (as opposed to skills, work output, etc) in the investment banking and finance-related industries in Singapore? Would you say more or less than, say, in the UK?

Thanks

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Strong Eagle
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Postby Strong Eagle » Tue, 25 Nov 2008 10:16 pm

Look, I will tell you right off the bat that I am so sick of 'investment bankers' I could puke. My own nephew wants to be one and the only reason I can see that anyone would take up this trade is that they have visions of greed... they want to make a killing. Fortunately, for the near term, investment bankers are up sh*t creek... regardless of experience.

Second, spend some time using the SEARCH function. You will learn a lot more than my one response can give you.

quidsin
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Postby quidsin » Tue, 25 Nov 2008 10:46 pm

There is this perception out there that if you work for an investment bank you are a cash greedy monster. I would just like to point out that within large banks there are only a very small minority of people who earn the big bucks you read and watch in the news.

The core mass of people working in banks are support teams around 'Front Office' such as Operations, IT, HR, Legal etc. In comparison, they work much harder and longer hours for much less reward so don't tarnish all investment bankers with the same brush unless you've ever worked in one.

greta3913
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Postby greta3913 » Thu, 27 Nov 2008 7:51 pm

quidsin wrote:There is this perception out there that if you work for an investment bank you are a cash greedy monster. I would just like to point out that within large banks there are only a very small minority of people who earn the big bucks you read and watch in the news.

The core mass of people working in banks are support teams around 'Front Office' such as Operations, IT, HR, Legal etc. In comparison, they work much harder and longer hours for much less reward so don't tarnish all investment bankers with the same brush unless you've ever worked in one.


Absolutely, quidsin. I worked in a global investment bank for a number of years until very recently and the reality for most couldn't be more different than the "cash monster" image. Having said that...I can understand how the few who are in front office do give the rest of us a bad name :P

Alex_pag, from what I hear Singapore is one of the few places where investment banks are still hiring. BUT, having said that 1) it'd be easier if you aim for a middle/ back office role such as finance, risk, compliance etc and 2) it'd be very unlikely that you'd be able to get a role straight after your degree as banks are swamped with plenty of experienced bankers who have been made redundant in UK, US, etc.

Hope that helps :wink:

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ching
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Postby ching » Sat, 27 Dec 2008 4:06 pm

I remember a number of banks had plans to set up operations centers in Singapore over the past couple of years (fueling hiring booms in the financial services industry).

But recently it seems like some of them at least are reversing course and moving positions offshore to India and other lower-cost locations. Is that the same trend others are seeing?
Tips from expats living in Singapore - http://www.livinginsingapore.org


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