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 Lets Talk Salary! v3

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ZeroWings
post Jan 7 2010, 01:26 PM

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helo all, im stil a student studying in BSc(Hons) Banking and Finance of London School of Economics(LSE), University of London. Planning to take CFA when i start into work.
I wana work in finance field like financial controller, financial analyst etc. Just out of curiosity, roughly wat's the salary will be around when i graduated? (as in bachelor degree only)
And what are the companies that offer this kind of job tat's available in Malaysia or even Singapore?

Sorry if my questions are silly, and Thank you for whoever replied

CHeers!!

This post has been edited by ZeroWings: Jan 7 2010, 01:28 PM
ZeroWings
post Jan 7 2010, 06:55 PM

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QUOTE(4evernelson @ Jan 7 2010, 06:48 PM)
wow~ sound complicated ya~ LONDON U~ sure spend lots of $ study there tongue.gif
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actually not really, coz im not taking in UK, am doin all in Msia. cannot afford to go there, MYR to Sterlings conversion is too scary. LOL
ZeroWings
post Jan 8 2010, 04:39 PM

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QUOTE(ssyycc @ Jan 8 2010, 12:10 PM)

Hi ZeroWings,
If you are not a bread maker for your family, and would love to work in Malaysia. Never ask about how much you gonna get in Malaysia, it will just demoralize you.

Please work somewhere else other than Malaysia when you gratuated from UK, if money is important to you.
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the reason im asking is bcoz my parents said my lil bro and sis (currently in primary sch) will hav to rely on me for their studies (degree lv), tat's why im asking. just to get somekind of rough numbers
ZeroWings
post Jan 9 2010, 09:04 PM

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QUOTE(chabalang @ Jan 8 2010, 10:29 PM)
First of all, your question is NOT silly.

As a fresh graduate, your gross pay in M'sia will not be much: probably around RM2500-3000 (btw, financial controllers are EXPERIENCED position, not for fresh grad.) If your degree is from LSE (is it an external programme?), getting a decent job in the finance sector is not too difficult, subject to the economic/sector situation. First few years, do not expect to earn too much. The JUMP comes after you get a few years (3 to 5) of experience and effective networking. Some guys who are more "gung-ho"and capable can earn more than 10k after that (but that's minority). Generally, more than 5k after 5 years.

Pay in Singapore is definitely MUCH better than M'sia but the competition is stiffer as well. There are plenty of M'sians in Singapore finance sector.

To get an indication of pay:
http://hubpages.com/hub/singapore-salary-guide
http://www.kellyservices.com.my/web/my/ser...alaryguide.html

Please bear in mind some of the survey data may be skewed and some are on the high side (Michael Page and Robert Walters are executive "head-hunters"). Generally, the pay in Singapore is much better than M'sia (1S$:2.4 ringgit and much lower personal tax rate). Wondering how come I know? - I have worked more than 15 years in the financial industry in S'pore, Msia and etc...now semi-retired - relatively free enough to offer some help in LYN.

Sorry for being naggy (that's the problem of growing old). Do get experience, LEARN, have a GOOD attitude to work. Find something you really like and $$$ will come along (interest + hard work are impt factors for success).

Since you need to take care of your younger siblings, $$$  is impt but pls do not overlook your long-term development plans and interest as well. Cheers... smile.gif
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not silly? biggrin.gif

hmm, i had expected gross ard 2k-2.5k though, i did a tiny research on salary in this line for fresh grads b4.

so if financial controller is for experienced ppl, what can i actually apply upon graduating?

yes LSE is external, i cant afford to go to the LSE in UK though, tat's way too expensive. Cost wise, this external programme is just the thing i want.

i asked some frens in this line b4, normally 5 years is needed, tat's why im thinking to take CFA in the first 5 years, as CFA required 4 years to receive the charter. btw, wat's gung-ho? my dialects not well LOL. of coz i do aim for the minority but wil not pin too high hopes. 5k+ after 5 years looks fine to me as my parents (50+ and 40+) is earning sum of 10k monthly.

izit hard to go into SG's finance sector? graduated frens encourage to go to SG, as the pay and other benefits is better than MY.

its not naggy, im here bcoz i wanna infos and advice, talk more = more info which is good for me. tongue.gif

anyway, thx for the infos. goodluck and happy new year

ZeroWings
post Jan 11 2010, 09:24 PM

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QUOTE(fletcherwind @ Jan 9 2010, 09:57 PM)
CFA designation can only be used if you have worked in a relevant industry for a certain number of years.

If your finance industry is on banking, then the fresh grad pay is close to 3k or more. But if you are talking about back office finance, that's a different story.

I might have stated somewhere about front office and back office before. You should really have a very clear understanding about this before applying for any job positions. The reason why im doubting you is because you're talking about CFA and Finance controller job as if they are similar in nature.
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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
QUOTE(richie86 @ Jan 11 2010, 03:14 PM)
I heard from rumour that, headhunter get paid for senior post while they hire junior to earn your salary per month. or else the MNC pay them a lum sum for slotting people in. btw.. Headhunter = job agencies right? or there is different in between them?
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from wat i know, headhunters and job agencies are different. if headhunted, its really very very good in all aspects

This post has been edited by ZeroWings: Jan 11 2010, 09:26 PM
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.

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