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Employment Pass - Wealth management no degree?

Relocating, travelling or planning to make Singapore home? Discuss the criterias, passes or visa that is required.
ch4lkie
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Employment Pass - Wealth management no degree?

Postby ch4lkie » Tue, 03 Jul 2012 8:52 pm

Hi all i would appreciate anyone who has any experience on this matter!

I am 25 years old male from the UK with 4 years sales experience. i have been offered a job in a wealth management company out there. I have no degree however I do possess 4 A Levels and an advanced A Level.

My understanding is that this is a skill set that is limited since 100% of the clients are expats and as such a job unlikely to be done by a Singaporean.

What would you say my chances are of being granted a work permit?

Thank!

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Strong Eagle
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Postby Strong Eagle » Tue, 03 Jul 2012 9:10 pm

What is your base salary? More than S$8,000 before commissions, and maybe you have a shot. Otherwise, no go.

And why in the world would anyone buy "wealth management" from a 25 year old? You're actually going to be flogging somebody's underperforming bonds/real estate/stocks, aren't you?

Wealth management companies in Singapore are like cockroaches... all over the place... and don't do anyone much good. Good luck cold calling all those expats who have already received 200 similar phone calls from companies that do little more than flog their own crap.

JayCee
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Postby JayCee » Wed, 04 Jul 2012 9:58 am

Strong Eagle wrote:What is your base salary? More than S$8,000 before commissions, and maybe you have a shot. Otherwise, no go.

And why in the world would anyone buy "wealth management" from a 25 year old? You're actually going to be flogging somebody's underperforming bonds/real estate/stocks, aren't you?

Wealth management companies in Singapore are like cockroaches... all over the place... and don't do anyone much good. Good luck cold calling all those expats who have already received 200 similar phone calls from companies that do little more than flog their own crap.


+1

I get probably 2-3 a month on average, usually cold calls to my office number (thank God they've not managed to get hold of my mobile yet) and I always hang up on them. Even after telling them I've got my money invested elsewhere and I'm very happy they ask me where I've got it invested, like I'm going to tell them! They're just con artists as far as I can tell.
I HAVE MASTERS!

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nakatago
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Postby nakatago » Wed, 04 Jul 2012 11:04 am

Just for fun, I tell these people, "Actually, I'm moving to New Zealand for good and I'm flying next week."

And these leeches would say, "but even if you're abroad, you can still continue with this fund I'm selling you. It's only a seven-year holding period."

Then I hang up.

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BillyB
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Postby BillyB » Wed, 04 Jul 2012 12:00 pm

They'll find a way to get around the work pass situation if they can. These people make a living out of disguising the truth and being cunning.

My advice, steer well clear of the opportunity. It's a fiercely competitive industry with low ethics, and who burn through staff at a rate of knots and generally only pay commission and no or a tiny base.

On the plus side, it's an industry full of morons so you are generally competing with other firms who don't know their arse from their elbow.

And it's hardly 'wealth management' in the traditional sense, it's known as offshore financial advising, using loopholes and insurance-wrapped policies to avoid tax.


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