Tricolor wrote:Hi,
Can anyone tell me what the current state of the job market in Singapore is? Are people being laid off? I'm looking for a position in a law firm or trust company in the global wealth management industry. I've been trying to find information about this on the web but it is not easy. I know that the Singaporean PM recently said that the economy is on its way up. Is this true for jobs as well? I'm a one year qualified English solicitor and I'm looking for a position at the moment in Singapore but I am still living in the UK. I'm thinking of applying for an EPEC but I am concerned that I may not find a position once I'm over there. Can anyone advise whether it really is easier to find a job if you relocate to Singapore rather than applying from abroad?
Thanks.
Hi Tricolor,
Welcome to the forum.
First of all, you have to remember that what the Government says here is not always black & white (but if you are a lawyer you know that better than me). The Government here, otherwise known as the PAP, feeds the local population (and foreign press) PAP in order to keep the local buffaloed into thinking all is well, as they watch their pay packets shrink in purchasing power even as they get incremental raises of 5% a year.
Most tend to read the PAP at fact value in as much as they tell us that the economy has bottomed out and the rate of retraction is 3% less this quarter over the last (last quarter the rate of retraction was 6.5% and this quarter it was 3.5%). Somehow, the locals don't see the obvious that the economy is still in reteraction, which means people/companies are still losing more and more money. If the country stays in retraction for the next 10 years? Anyway that another discussion.....
As the global wealth management industry has had something of a shakeup here, I'd say maybe it is a good time to get into it if you have the wherewithall (staying power) as most are shying away from it at the moment so it may well be a good time to jump in with new blood over here. I'm not a financial guru but more and soybean guru (farmer) so I can't say with any certainty but there are signs that the financials are starting to pick up again.
I'd go with an EPEC if you can get one as this gives you a 12 month window to look for a job here. Alternatively, if you income has been in excess of 7K/sgd/month you can apply for a PEP and basically that will give you 6 months to find something suitable.
Good Luck,
sms
