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 Lets Talk Salary! v3

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fletcherwind
post Jan 12 2010, 11:22 AM

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QUOTE(ZeroWings @ Jan 11 2010, 09:24 PM)
pls do advise on the front and back office and the difference in nature of CFA and Finance controller. for wat i know, CFA = financial analyst. as the the nature in deep, yes im not very clear bout it. ur comments is much appreciated


Added on January 11, 2010, 9:26 pm

from wat i know, headhunters and job agencies are different. if headhunted, its really very very good in all aspects
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Ppl who do CFA are usually people in the Investment Banking/Asset Management/Stock Brokering/Private Equity/Hedge Fund industry. My list is not mutually exclusive or collectively exhaustive. The syllabus in CFA is more relevant in here.

The people who are involved in the departments that bring in Revenue to the companies are called front office. Departments which support the firms operations but are generally cost centers are back office departments or middle office departments.

So, in an investment bank for example, corporate finance is front office but finance for group reporting or financial reporting is back office. Finance is just a very loosely used term. Financial controllers are reponsible to support the operations in a company, they are not involved in bringing in Revenue, hence they are working in a back office function. Corporate Finance Analysts help execute M&A/IPO deals and they earn fees from their clients, hence they are in the front office function.

This is just a very quick reply. You can find out more online on what you are intersted in and what's the right professional paper. Wiki is surprisingly helpful. You would really want to know more of the industry and the job that you want before you embark on your career.
Grimm
post Jan 12 2010, 03:52 PM

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My good man... the meaning of being headhunted can be played out in this scenario.

You are working in some big firm under a 5 year bond because they sponsored you for your postgrad or professional paper. Some competitor sees your potential and wants you to work with them. In their eyes, your talent is very very rare in that field. They pay your current company the bond (they buy you up, very much like EPL footballers transfer business). Then you work for them. Usually they have an offer you can't resist. Since they want you so much, you have a very big bargaining chip in your pockets.
richie86
post Jan 12 2010, 04:01 PM

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QUOTE(Grimm @ Jan 12 2010, 03:52 PM)
My good man... the meaning of being headhunted can be played out in this scenario.

You are working in some big firm under a 5 year bond because they sponsored you for your postgrad or professional paper. Some competitor sees your potential and wants you to work with them. In their eyes, your talent is very very rare in that field. They pay your current company the bond (they buy you up, very much like EPL footballers transfer business). Then you work for them. Usually they have an offer you can't resist. Since they want you so much, you have a very big bargaining chip in your pockets.
*
Any good channel to get yourself discovered by future employer?
ZeroWings
post Jan 12 2010, 09:38 PM

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QUOTE(fletcherwind @ Jan 12 2010, 11:22 AM)
Ppl who do CFA are usually people in the Investment Banking/Asset Management/Stock Brokering/Private Equity/Hedge Fund industry. My list is not mutually exclusive or collectively exhaustive. The syllabus in CFA is more relevant in here.

The people who are involved in the departments that bring in Revenue to the companies are called front office. Departments which support the firms operations but are generally cost centers are back office departments or middle office departments.

So, in an investment bank for example, corporate finance is front office but finance for group reporting or financial reporting is back office. Finance is just a very loosely used term. Financial controllers are reponsible to support the operations in a company, they are not involved in bringing in Revenue, hence they are working in a back office function. Corporate Finance Analysts help execute M&A/IPO deals and they earn fees from their clients, hence they are in the front office function.

This is just a very quick reply. You can find out more online on what you are intersted in and what's the right professional paper. Wiki is surprisingly helpful. You would really want to know more of the industry and the job that you want before you embark on your career.
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icic, thx for reply, ur reply helps a lot in understanding. will check bout it to see wat i want as i stil hav 2 more years to graduate.
Grimm
post Jan 13 2010, 09:36 AM

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QUOTE(richie86 @ Jan 12 2010, 04:01 PM)
Any good channel to get yourself discovered by future employer?
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You have gotta prove that you're superb at what you're doing. You can do everything in your job scope better than your peers (that includes in other firms as well).

Most of the time, you also have to have luck - to be at the right place, at the right time, doing the right thing, while being seen by the right people who are in the right mood.

I know... sounds... demoralizing. Lol. But it happens all the time you know. Big prospective employers having their normal coffee at a coffee outlet suddenly notices a very talented waiter/waitress who seems to have good marketing skills. Taken in, trained, and then works in a big bank after that. Who knows? wink.gif
richie86
post Jan 13 2010, 10:14 AM

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QUOTE(Grimm @ Jan 13 2010, 09:36 AM)
You have gotta prove that you're superb at what you're doing. You can do everything in your job scope better than your peers (that includes in other firms as well).

Most of the time, you also have to have luck - to be at the right place, at the right time, doing the right thing, while being seen by the right people who are in the right mood.

I know... sounds... demoralizing. Lol. But it happens all the time you know. Big prospective employers having their normal coffee at a coffee outlet suddenly notices a very talented waiter/waitress who seems to have good marketing skills. Taken in, trained, and then works in a big bank after that. Who knows? wink.gif
*
too bad... I don't think I able to show my practical skill in programming in coffee outlet =="
Even that if we talking about project thing during lunch time, if the employer doesn't come to know me, he won't even know how to reach me and my current employer too. Very difficult to have that chances.

What I have in mind is trying to find a good company to work with, then let the employer discover your talent. That will be better since they can see how you perform during ur working time. Or get the job by reference of someone work in the company might be better as well?
xander
post Jan 14 2010, 09:50 AM

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experience tak ada

1st job RM 2.2k, after confirm 2.5k
moyl_finuda
post Jan 14 2010, 11:29 AM

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so good biggrin.gif

This post has been edited by moyl_finuda: Jan 14 2010, 11:30 AM
cmk96
post Jan 14 2010, 04:37 PM

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QUOTE(realventis @ Jan 8 2010, 11:11 AM)
Job Title : Cadet Engineer (production Department)
Age: 24
Years spent in company : 8 months
Company: Local
Location : Tawau
Industry : Palm Oil
Tenure : Permanent
Experience before joining : fresh grad
Basic on joining : RM1600
Current basic : RM1700( after probation period)
Total allowance : Subsidy food rm50
Education level : Degree
Benefits : standard
Working hrs: 7am-5pm

I'm being offered this position

Job Title : Maintenance Engineer
Company: China company
Location : Labuan
Industry : -~-
Tenure : Permanent
Basic on joining : RM2.6k
Total allowance : Housing allowance rm400
Education level : Degree
Do you think it's a wise choice to move?
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you are so young yet can earn 2.6k...not bad... if i were you, i would take it. assuming your company give you increment of rm200 per yr, you will need almost 5 yrs to get same salary in the same company. just my 2 cents.
richie86
post Jan 14 2010, 04:49 PM

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wow housing allowance rm400. Per month or per year?
siberfriend
post Jan 14 2010, 05:21 PM

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QUOTE(xander @ Jan 14 2010, 09:50 AM)
Fresh Grad in IT

experience tak ada

1st job RM 2.2k, after confirm 2.5k
*
good... last time my 1st job is 2.2k, after confirm 2.4k only..
sherlykoo
post Jan 14 2010, 10:01 PM

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QUOTE(siberfriend @ Jan 14 2010, 05:21 PM)
good... last time my 1st job is 2.2k, after confirm 2.4k only..
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the rate not bad ":)
Lineage
post Jan 14 2010, 10:04 PM

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QUOTE(xander @ Jan 14 2010, 09:50 AM)
Fresh Grad in IT

experience tak ada

1st job RM 2.2k, after confirm 2.5k
*
degree? mind to share your job scope? position?
4evernelson
post Jan 14 2010, 10:52 PM

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sure take higher salary with house allowance offer la...wait what wor
xander
post Jan 14 2010, 11:04 PM

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QUOTE(Lineage @ Jan 14 2010, 10:04 PM)
degree? mind to share your job scope? position?
*
yup degree,

job scope is like customizing CRM app

position is just a junior consultant
4evernelson
post Jan 14 2010, 11:11 PM

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any job vacancy for customer / technical service?

Haha...all so good, I'm degree holder , but just get less than 2.1K wages
richie86
post Jan 14 2010, 11:13 PM

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I guess our salary is base on how much our responsibility in the company, how important that your role that would impact the company business.
Lineage
post Jan 14 2010, 11:37 PM

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QUOTE(richie86 @ Jan 14 2010, 11:13 PM)
I guess our salary is base on how much our responsibility in the company, how important that your role that would impact the company business.
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Totally agree..

You can get at least 2k salary without any diploma..the requirement is just simple..able to speak english, basic knowledge and high interest in IT..
jitshiong
post Jan 15 2010, 09:30 AM

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QUOTE(4evernelson @ Jan 14 2010, 11:11 PM)
any job vacancy for customer / technical service?

Haha...all so good, I'm degree holder , but just get less than 2.1K wages
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a degree does not guarantee u good pay...
it's just a ticket to get u into the interview

Zennix
post Jan 15 2010, 09:58 AM

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High qualification but "poor", low qualification but "rich"...Nowadays...good in earning money is more important than qualification.

Like some entrepreneur, they possess low qualification but they able to manage their business effeciently.

Agree?

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