It pays (quite well) to study at SMU
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Personally, i'm looking at Internships as a stepping stone into big companies Of cos, i have friends who did their internship and before it ends, the company offered a position and is willing to wait for a year(regardless of resultOriginally posted by jeremymjr:Most people just don't get it. It's not about internships/jobs with big investment banks. It really is, apart from the select few, are they going to get front office jobs or merely back office jobs? I can intern at Goldman Sachs also - but as an office helper/tea lady. Is that counted?
Ibanking in Singapore is so prestige-based that only a very small percentage of local graduates will get actual top positions and huge bonuses. Yet people continue to suck up all that hype.
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If i were to be offered Business Asset Analyst in a Local Firm compared to Assistant Asset Analyst in one of the huge merchant in the world, but with only half the pay out of Local Firm. I'd gladly start low and look far?
Cheers -
Question: How many SMU graduates actually replied to this survey?
What if all those who got decent salaries replied and those who still can't find a job just can't be bothered to reply? -
Quite true.Originally posted by CoolMyth:Question: How many SMU graduates actually replied to this survey?
What if all those who got decent salaries replied and those who still can't find a job just can't be bothered to reply?
If you had a fcuking well paying job, it would probably boost your ego to complete and return the survey.
If you are still unemployed or are paid 1K a month, would you even want to put it down on paper? -
from what some SMU friend told my another friend..urm....Originally posted by CoolMyth:Question: How many SMU graduates actually replied to this survey?
What if all those who got decent salaries replied and those who still can't find a job just can't be bothered to reply? -
of cause they take the top to show case la...nan dao they take the worst paying ones to market themselves meh...Originally posted by ^tamago^:Why is everyone looking at the top? Where are the rest, the commoners?
tt saying, the employment part abit misleading...wat if the jobs tt they get are those on 1 yr contracts? then after 1 yr how? -
Just a couple of questions. Can a kind soul tell me what the difference between Banking and Finance.
Also does anyone know the starting pay of lawyers in Singapore, as well as the most lucrative law specialization? -
i love all the U!
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At work, the clients will not ask how many As u got or which school u were from. It's how u can help the clients that matters.
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I going to study in AUS uni then take my masters in smu...
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udon is studying at SMU
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you have to look at the calibre of students they take in also...
their selection process so stringent..
of course those who come out won't fare too badly...
if they can transform a straight Ds student into a $12000 a month ibanker...
then nothing to say liao...
but given the type of students they take in...
this shouldn't be so surprising... -
lkcsb?Originally posted by udontknowme:udon is studying at SMU -
how come neber report the poor things tt cannot find jobs?
good things often over-glorified
other side of the picture always no one mention -
The survey showed that for the third year running, 100 per cent of its economically active graduates found jobs either before their graduation or within just six months of it.Originally posted by FireIce:how come neber report the poor things tt cannot find jobs?
good things often over-glorified
other side of the picture always no one mention -
lol udon is studying different SMU lah.. wah fit fit.. if this is true my future looks good...Originally posted by Xtrider:lkcsb?
muz go mug smore.. smuggers! -
2-3 years back a friend grad from ntu 2nd upper honors got into a MNC in woodlands. starting pay 8.5K. engineering
another friend's friend's sister...etc from NUS got into UBS 2 years ago. Dun know what starting pay, but now an VP in UBS HongKong US130K pa not including overseas allowances and bonuses. She just celebrated her 26th (or is it 27) birthday last week.
It's not the uni. It's the person. -
They won't pay you 12k a month to be tea ladyOriginally posted by jeremymjr:Most people just don't get it. It's not about internships/jobs with big investment banks. It really is, apart from the select few, are they going to get front office jobs or merely back office jobs? I can intern at Goldman Sachs also - but as an office helper/tea lady. Is that counted?
Ibanking in Singapore is so prestige-based that only a very small percentage of local graduates will get actual top positions and huge bonuses. Yet people continue to suck up all that hype. -
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They don't offer courses in the areas I'm good and interested in, so why should I be swayed?
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Yeah, that's why I added the caveat - apart from the select few, the ONE individual who earns 12k. I'm just making the point that there is a huge difference between front office and back office jobs. Everyone assumes that investment banking - any position whatsoever - automatically equals big money; that's not true at all. Instead of looking at the top 20%, look at the bottom 80% (if you can call them that). Are they really gaining from the so-called SMU advantage? Does this survey include part-time and contract work? Does this survey include every graduate, and not just the number who were proud enough to reply to the survey?
We all know what Disraeli said. There are lies, damned lies, and statistics. -
It says that the top 20% earned around $4680 on avg. That is around 70 pple based on the sample size.
Assuming that 7 of them earned $8k and 1 earned $12k a month, we can calculate that the remaining 62 guys earned $4,100.
That means that probably around 5% (which is 17.65 pple) make it to front office roles at most. The rest are stuck in the back office.
Although the starting pay is high, the attrition rate is equally high too. Some of the companies fire the bottom 5 to 10% of their staff each year.
Assuming a conservative 5% attrition rate, at the end of 8 years, only 11.7 pple are left in the banks. -
jeremymjr has a good point.
Apart from looking at starting salaries, we must also bear in mind that these banks will fire many of their bankers and traders during periods of recession. -
I doubt the survey. IF every1 get so high salary, spore students all chiong SMU lor...
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i am an ITE student and now i am making 5 digit of money also,what`s the big deal studying so high and spend so much money and ur pay is same as my pay ? this means that not study high u will earn alot,its the brain u got and how u use it.
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If you earn $12000 a month how will you spend it??