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Wd40
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Postby Wd40 » Sun, 15 Sep 2013 10:18 am

zzm9980 wrote:
Wd40 wrote:I agree a bit with PNGMK. People at 80K USD are not the ones that make huge impacts for organizations, these people can be easily hired at local packages. Its the senior execs that get all the bells and whistles expat packages.


I take it you're not responsible for hiring, interviewing, or your definition of "easy" in this context doesn't assume the person you're hiring is qualified.


Who are the people at 80K USD? In the US, especially in Investment Banking or Investment Banking IT, I know even the junior most people make 120k USD. In our bank, AVP designation is the lowest at our NY office, there are no Analyst designations and these guys make 160k USD.

So these 80k USD have to be some junior skilled individual contributors. There are tons of Asians with those skills. You believe you can't get them to work in Singapore at local packages of 100K?

In my office, the minimum level an Ang Mo is at, is at a VP level and these guys were brought in during hay days. Now ofcourse its the reverse migration that I am seeing. These people are being offered positions in our NY, London and Zurich office.

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Postby zzm9980 » Sun, 15 Sep 2013 11:44 am

Wd40 wrote:
zzm9980 wrote:
Wd40 wrote:I agree a bit with PNGMK. People at 80K USD are not the ones that make huge impacts for organizations, these people can be easily hired at local packages. Its the senior execs that get all the bells and whistles expat packages.


I take it you're not responsible for hiring, interviewing, or your definition of "easy" in this context doesn't assume the person you're hiring is qualified.


Who are the people at 80K USD? In the US, especially in Investment Banking or Investment Banking IT, I know even the junior most people make 120k USD. In our bank, AVP designation is the lowest at our NY office, there are no Analyst designations and these guys make 160k USD.

So these 80k USD have to be some junior skilled individual contributors. There are tons of Asians with those skills. You believe you can't get them to work in Singapore at local packages of 100K?

In my office, the minimum level an Ang Mo is at, is at a VP level and these guys were brought in during hay days. Now ofcourse its the reverse migration that I am seeing. These people are being offered positions in our NY, London and Zurich office.


It's the combination of that word "skilled" and "local" you keep using that I was calling out :P In my (admittedly biased) experience, locals are either lacking in skills and not worth 80k, or competent and already much higher up the ladder. At my company, the senior ICs (say VPs at banks) are all foreigners. Mid to Sr Management is mixed local and foreigner. Junior to Mid IC is local or Indian vendors. (Infosys, TCS, etc). The Peter Principle is very much law of the land where I work.

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Postby PNGMK » Sun, 15 Sep 2013 12:33 pm

I might add that I'm not sure all these people I'm talking about are even employees. I'm thinking a lot of them are wealthy in their own right - Tata Tycoons and Russian Oligarch type wealth. The ones who are working are VP level.

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Postby Wd40 » Sun, 15 Sep 2013 12:34 pm

When I said local, I meant hiring people on local packages. The person could well be British algo trader and there are lots of jobless traders out there who will be glad to move to Singapore on local packages. I am not so sure about other industries, but I would imagine the same. You dont need to pay expat packages to someone coming in at that low level.

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Postby PNGMK » Sun, 15 Sep 2013 12:35 pm

Wd40 wrote:When I said local, I meant hiring people on local packages. The person could well be British algo trader and there are lots of jobless traders out there who will be glad to move to Singapore on local packages. I am not so sure about other industries, but I would imagine the same. You dont need to pay expat packages to someone coming in at that low level.


I think the point I'm making is that I suspect Singapore is a transition similar to Manhattan in the 90's. The workers are moving out and the seriously wealthy are moving in.

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Postby Wd40 » Sun, 15 Sep 2013 12:38 pm

PNGMK wrote:
Wd40 wrote:When I said local, I meant hiring people on local packages. The person could well be British algo trader and there are lots of jobless traders out there who will be glad to move to Singapore on local packages. I am not so sure about other industries, but I would imagine the same. You dont need to pay expat packages to someone coming in at that low level.


I think the point I'm making is that I suspect Singapore is a transition similar to Manhattan in the 90's. The workers are moving out and the seriously wealthy are moving in.


I know. I think we are all on the same page and we know that :)


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