Current Job outlook for IT Finance professionals

[Sergei82]

I am an Indian as well then? Excuse me, life didn't give me a chance to become that spoiled, and I have no such chance at the moment too.

[Callput]

Sergei, that was a joke following from another thread.

http://forum.singaporeexpats.com/ftopic87460-30.html

Read the last 5 posts

[JR8]

Yeah. I always lived well under I saved a lot, and it all went into buying central London property of which I am the landlord.

Just curious, what is your annual net ROI?

That is a good question, I have not given my properties a financial road-test (statistical) for a a few years, I'm quietly happy with them and they tick-along in the background. But a research report from Savills a while back*2 was suggesting expenses of 30%, and a net yield of 8.2% is typical in London. For the capital required, that's typically 20% on a commercial loan*1. If the place started as your own home it might be a low as 10%. Tax treatment depends on whether you've ever lived in a property as your principal residence (in loose terms). As you can see you've probably got to have some pressing need to crank the numbers considering all of the above.

Callput:

JR8, you are an Indian !

Why thank you, that is a compliment indeed! As was a comment long ago by a Jewish girlfriend, that I should be made an 'honorary Jew'


*1 you can go to 95% LTV, but the rates and application fees start to get seriously expensive, so such loans are worth avoiding if at all possible, (i.e. unless you are staring some super-bargain property in the face and are short on capital).

*2 Edit to Add. Quite by chance I found a diary note reference, it was March 2012, their 'London Renting Report' ... should anyone be interested in the source...

[Sergei82]

Not following the news very actively, but heard yesterday on Channel News Asia that Citi is going down after UBS. They lay of 11000 people.
Barclays and SC are still hiring...

And this:
http://news.efinancialcareers.com/hk-en ... ment-bank/

[Wd40]

Not following the news very actively, but heard yesterday on Channel News Asia that Citi is going down after UBS. They lay of 11000 people.
Barclays and SC are still hiring...

And this:
http://news.efinancialcareers.com/hk-en ... ment-bank/

Yeah man, times are really bad for banking now. In Singapore case it is banking IT jobs. In my office though people are leaving on their own, going back to India due to the high costs here as well as no growth in sight, worse, high chances of layoffs in the near future.

Exactly last year the mood was completely different. Lot of my PR colleagues had bought HDBs and were actually expecting hikes or to be converted to permanent employees. This year even survival looks impossible, beyond 2013.

I can promise you one thing. In 2014 you will see only 1/2 of the existing banking IT staff in Singapore. Teams are being moved wholesale to India. Singapore is going to quickly lose its status as back office location for banking IT.

[Sergei82]

Not following the news very actively, but heard yesterday on Channel News Asia that Citi is going down after UBS. They lay of 11000 people.
Barclays and SC are still hiring...

And this:
http://news.efinancialcareers.com/hk-en ... ment-bank/

Yeah man, times are really bad for banking now. In Singapore case it is banking IT jobs. In my office though people are leaving on their own, going back to India due to the high costs here as well as no growth in sight, worse, high chances of layoffs in the near future.

Exactly last year the mood was completely different. Lot of my PR colleagues had bought HDBs and were actually expecting hikes or to be converted to permanent employees. This year even survival looks impossible, beyond 2013.

I can promise you one thing. In 2014 you will see only 1/2 of the existing banking IT staff in Singapore. Teams are being moved wholesale to India. Singapore is going to quickly lose its status as back office location for banking IT.

I thought, they already evacuated back-office to India. Only front-office left. And even that is coming to the situation when they have only support in Singapore and all development is done in India.

[Wd40]

Resurrecting an old thread. After the massive culling of banking/IT jobs in the last couple of years in Singapore, I was under the impression that things are better now, atleast whoever had to lose their job has lost and left this place, unless they found something else here. Hence the demand supply equation must be better now, as mass layoffs seem to have stopped and some hiring is happening.

But this article seems to suggest that more culling is going to come and this time it is Oil related, banking jobs

http://www.bloomberg.com/news/articles/ ... oil-plunge

[the lynx]

Well the plunge in oil price definitely fueled this...

[bgd]

Well the plunge in oil price definitely fueled this...

I see what you did there...