FAIR outcome is out & a Career Talk for all

FAIR outcome is out & a Career Talk for all Written by Wilfred Ling  Wednesday, 16 January 2013The FAIR outcome (found here http://sg.sg/13Dgznk) is out but the weirdest of all is forcing advisers to disclose the buy-term-invest-the-rest strategy the wrong way by using the fixed deposit as the investment instrument! That is so easy to outperform by a whole life or endowment! Looks like it is … [Read more...]

7 in 10 Singaporeans plan to change jobs in 2013

According to a survey done by online recruitment firm Jobstreet.com, nearly 75% of Singaporean workers are considering changing jobs in 2013. This is despite the anticipated economy slowdown and forecasted sluggish job market in Singapore. Among the top pull factors for a job switch are salary and career progression.Money still rules The report confirmed my view that in order to draw a better … [Read more...]

Starting Salary for Poly Grad

The starting salary or pay for a poly graduate is up from $1850 to $1950.  That is a $100 increase.  The survey was conducted by the the five polytechnics in Singapore.  You can compare it with the starting pay last year. For poly graduates who have completed national service, the median gross monthly starting salary was also up from $2,100 in 2011 to $2,253 in 2012. … [Read more...]

The tough job at North Dakota. Would you work for that kind of money?

1% unemployment in the US. That’s a far cry from the reports you hear of the US. But the employment accounts are the stuff of legends. North Dakota is the third most productive energy state, on its way to being number two, behind Texas. And that is creating jobs. Lots of jobs. Unemployment in the Bakken region is 1%. $10-15 an hour for working in a fast food restaurant, if you can even find … [Read more...]

Civil Service Bonus End-2012

All civil servants will get a total of 1.7 months of bonus at this year end, according to the PSD press release. This bonus consists of the standard one-month NPAA (also known as the 13th month bonus) and 0.7 month of AVC. This 1.7 months bonus is slightly less than the 1.75 months given out at end of last year. Taking into account the 0.3 month already given out in mid-2012, civil servants … [Read more...]

Are you in a “Blue-Chip” career?

The Sunday Times carried an article today (18 Nov 12) which, in a nutshell advocated the importance of investing in one’s career in today’s climate of vagaries of the world’s economy and the global stock market. The article pointed out that for employees, the main source of their income will be one that is derived from employment and hence it is still important for one to treat his career as a … [Read more...]

Handicapping your shot at a top MBA Business School

Here's an interesting article from Ms. Sandy Kreisberg, a former adcom committee and now the founder of admission consulting firm HBSGuru, on the odds of typical applicants to the top MBA school. Nothing is concrete, as it is in this world. But if you are one of those thinking to apply to these top MBAs school, then you should check your odds out. Mr. Perfect 750+ GMAT 3.8 Grade Point … [Read more...]

Interview with The Ultimate Banker – Edwin Lim

The following is an interview with Edwin Lim, co-author of The Ultimate Banker.  Edwin has more than 23 years of banking experience and held COO appointments in many banks. Now, he wants to teach you how to have a successful career in the bank. What prompted you to write the book? I decided to write this book 3 years ago because I felt frustrated that most of the books out there were mainly … [Read more...]

Telephone Interview Update

I think I did quite well for the telephone interview as I was quite well prepared. Here are the questions posed to me : Tell me about yourself Why are you suitable for this role? Describe an event where you showcased your integrity Describe an event where you encountered a communication conflict and how did you resolve it? What is the most challenging task that you have done to date? What is … [Read more...]

Looking for experienced financial adviser who wants a change in environment

I am looking for financial adviser representatives with a few years in financial advisory experience who would like a change in environment. The company had put up advertisements for a very long period but I hardly found anyone suitable. Two categories of representatives I am looking for: The first category are for those who wish to progress to fee-based professional financial planners. They … [Read more...]

The Ultimate Banker by Edwin Lim, Kaiwen Leong, PhD & Edward H. Choi

Part self-help career guide, part introduction to the banking industry and part biography, The Ultimate Banker is the culmination and condensation of Edwin Lim’s 23 years of experience in the industry which saw him rise from trainee to Chief Operations Officer of several multi-national banks. Co-written by Singapore’s Lost Son Leong Kaiwen and Princeton undergrad Edward H. Choi, the book is an … [Read more...]

Telephone Interview Invitation

"We are pleased to inform you that we have reviewed your application and numerical test results and would like to invite you to a telephone interview" After a month of gruelling wait, I finally received a phone interview invitation from an international bank. The position that I applied for is a Graduate Program at the Corporate and Investment Banking department. I shall not reveal the bank's … [Read more...]

Top MBA School – Using "Car" Analogy

Here's an interesting article using the car analogy to compare the various MBA Programmes out there. Top Three: HBS, Stanford, Wharton (some say Wharton is just a rung below HBS and Stanford but above Kellogg, MIT, Chicago, Columbia or Tuck, which I won’t dispute – opinions vary). Elite Eight: Top 3 plus Kellogg, MIT, Chicago, Columbia and Tuck. Some say Tuck is just a rung below; again … [Read more...]

Fresh Graduates Starting Pay

Application window for full time programs in 2013 is now open and I have completed 12 applications in the past four few weeks. It is quite disheartening that some of my schoolmates have already received interview invitations while I have not received a single response yet. Based on the information I gathered from recruitment events and my schoolmates, I managed to get a sense of the starting pay … [Read more...]

Ever thought of being an entrepreneur?

More and more, people are starting online businesses. In Singapore, where a small shop space in a popular mall could cost more than $20,000 a month to rent, having a virtual shop makes sense. Follow a few successful online shop owners and see their entrepreneurial journey. See how they carve out a niche in a market where fickle minded consumers are an everyday staple. Find out also how they … [Read more...]

Keep Commission Model, Say Financial Advisers, Managers

A friend highlighted this article to me a few days ago and I had quite a reaction to it. The following are quotes from the article (bold emphasis added by me) and my comments: An ad-hoc alliance of about 15,000 financial advisers and managers are hoping to sway a review panel, which is considering, among other things, doing away with the commission model that most insurance and financial … [Read more...]

How Much Do Insurance Agent and Property Agent Earn?

It has always been a misconception that insurance agents and property agents earn hundreds of thousands of dollars or even millions every year by pushing sales to the customers. After all, the media likes to feature the top performers. Just last week, Sunday Times interviewed a 23 years old part time insurance agent who earned $200,000 in his first year in the business. Maybe MAS is thinking … [Read more...]

Oversupply of Financial Practitioners And Its Effects

Singapore has a population of about 5 million. The number of practitioners in the financial advisory industry can be estimated to be about 20,000 to 30,000. This includes tied insurance agents, Financial Adviser firm representatives and banks’ financial services personnel. It is a considerably large number for our population size. How so? Let’s look at how we compare to other … [Read more...]

Higher Starting Salaries for Fresh Graduates

A recent survey released by Hay Group last week revealed that fresh graduates are drawing higher starting salaries compared to 2011. Those without Honors drew S$2, 678 while those with second upper Honors and higher drew S$2, 766 and S$2, 882 respectively. It also revealed that those working in the engineering sector drew the highest average salaries of $2,777 without honors. Jobs in research … [Read more...]

Top 100 Jobs In Singapore (2012)

This is the 2012 edition of our ever-popular list of 100 best-paying jobs in Singapore. The Ministry of Manpower has just released Report on Wages in Singapore 2011 (released 29 June 2012). We use the wage data in this report to generate our Top 100 Jobs ranking table. The MOM wage data exclude bonuses and profit sharing. You may also wish to note that “(t)he wages for certain occupations, … [Read more...]