Damn. So true. Applies to most bankers as well
A professional mistake, Enjoy the joke SPECIALLY for big 4!!!
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 Nov 15 2009, 10:25 PM
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2,703 posts Joined: Jul 2007  
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Mar 26 2011, 12:12 AM
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#2
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The thing is every f%#king asian have this herd mentality(myself included). Once they say accountant is a good prefession like my son/friend/relative is oing very well, then every parents brainwash their sons/daughters to study accountancy. Same with doctors, engineers and most other profession. The when they graduate, they find that 1) they are competing with so many other people 2) they don't even like the job in the first place 3) Becasue of the oversupply, companies pay lesser to employ freshies. Had I know the things I know now, I would have never studied accounting & finance. I will probably be a geologist or a vessel/oil tanker captain or something like dat coz there is a acute shortage of these people and the pay is generous. again supply & demand
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Mar 26 2011, 10:31 AM
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#3
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QUOTE(dreamer101 @ Mar 26 2011, 08:21 AM) Folks, The reason why anyone/you can't be average and rich or comfortable (Being rich is subjective) is because of COMPETITION, which is excatly what i pointed out in the first place. Let me give you a simple e.g. so you understand my simple philosophyIt is VERY SIMPLE... A) You WORK FOR YOURSELF. You exchange YOUR TIME for MONEY. So, why would you give it away for FREE?? If you want to do this, why don't you come to my house and wash my car for FREE?? B) So, if you work LONGER than normal office hour, what do you get in return?? Is it worth it?? C) If you LEARN something NEW and INCREASED your CAPABILITY and MARKET VALUE, this is an investment. If not, why bother?? I worked 40 hours per week. I spent 20 hours after work self-study to increase my capability. I do not NEED to count on my current employer to reward me. The JOB MARKET will reward me because of my capability. D) Ditto, some bosses are USELESS. They are not willing or capable to REWARD you for your extra effort. So, why bother?? Why work for FREE?? THINK!!! Take care of yourself. If you don't, no one else will.... Dreamer Added on March 26, 2011, 8:26 am mercury8400, Average people are not rich. Rich people are not average.. If YOU are not smarter or luckier than average people, you have to work HARDER and SMARTER than average people to get somewhere. << Had I know the things I know now, I would have never studied accounting & finance. I will probably be a geologist or a vessel/oil tanker captain or something like dat coz there is a acute shortage of these people and the pay is generous. again supply & demand>> B.S. You could be ABOVE AVERAGE on accounting and finance if you CHOOSE to. Then, you will earn a lot more money than average geologist and oil tanker captain. Ditto on above average wanton noddle seller, chicken rice seller and so on.... YOU choose to be AVERAGE or NOT. No one else... Dreamer  e.g.1) You are a Accountant from the big4 with 2-3 years experience. You wanna make more money/career progression hence you try to move out to join a MNC with better pay/working conditions etc. But lo and behold, there are 1000 other people who are also applying for the same position. So how? You will have to prove that you are more hardworking, be above average (in yr words) compared to the 1000 other applicants e.g.2) You are a geologist with 2-3 years exp. I am just average. Nothing to shout about. Like you i wanted more pay, so i move out. Lucky for me, geologist isn't something everbody has studied or has worked as. There are numerous oil and gas co who needs these people for oil exploration and studies. Hence there are more positions open than people willing/having the right skills to work in them. So I tell my employees RMXXX amount is what i want. Take it or leave it even though i'm just average. Guess what? I got the job. Why? Coz THERE JUST ARE NOT THAT MANY PEOPLE DOING IT! In summary i reiterate what i just said. You HAVE TO BE ABOVE AVERAGE BACAUSE OF COMPETITION! So why study something everbody is studying such as accounting & finance? Although i agree hindsight is 20/20 but if just someone could have told me earlier..... sigh |
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Mar 26 2011, 05:25 PM
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QUOTE(seantang @ Mar 26 2011, 03:22 PM) The reason why captains of oil tankers and upstream exploration geologists are paid relatively more and the reason why there are relatively few people doing it - is NOT simply because of the field (ie. sailing and geology). The reason is because of the personal risk involved, for which they are compensated handsomely. Same reason why simple welders and technicians on an oil rig earn a lot more than their counterparts in a residential construction project, for instance. That's another way of looking at it. but the principal still stands. The reason why they pay more like you mentioned is that not a lot of people are willing to take the risk. Hence "less" competition for the jobs. again demand and supply.If you're willing to take risks, you can earn extraordinary salaries as an accountant too. My company pays a very 'healthy' foreign service premium and hardship allowance on top of the expat package for accountants (basically anyone from any function) who's willing to work in Algeria, Iran, Libya, Israel, Pakistan etc. Slightly less is offered for those in Kuwait, Saudi Arabia, Eastern Europe, former Soviet Union, Africa (other than South Africa) etc. Even less for those in Dubai, Doha. A pretty good mix of compensation and hardship is Mumbai and other parts of India, where the allowances are still quite good but safety is still reasonable. One of my relatives earns US$5000-7000 a month as registered nurse in Jeddah, whereas her colleagues of the same batch are earning at most RM3000 in KL. So, no. There is no field that average people can earn above-average salaries without taking above-average risks. Added on March 26, 2011, 5:27 pm QUOTE(Noyoudontcare @ Mar 26 2011, 01:46 PM) i should be working in france, england, the eu...their labour law and working environment balances working life with ur personal life Right. But then you pay exhorbitant tax ratesThis post has been edited by mercury8400: Mar 26 2011, 05:27 PM |
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Mar 26 2011, 06:55 PM
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#5
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QUOTE(seantang @ Mar 26 2011, 05:45 PM) Your principle is based on the assumption that it's the field or industry that makes the difference. That principle does not hold water. My principle is that the more competition the more one needs to raise above the challenger/s irregardless of the industry or risk involved.Mine is that it is the risk you take that makes the difference and risk is available for the taking in any field or industry. That principle is sound. |
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Mar 26 2011, 10:46 PM
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QUOTE(dreamer101 @ Mar 26 2011, 07:57 PM) mercury8400, This is a clear example of someone who cannot accept an alternative view or could not understand other's point of view and has to resort to personal attacks. And strangely there are alot of these irrational people around in lowyatnet. Let me clearify the facts for youAny profession and / or career with good pay will face a lot of competition!!! In this case, there will be a lot of people like YOU aka "average people" that will change their career or degree into oil tanker captain or geologist because it pays more and aka "SHORTAGE". You have the HERD mentality... YOU cannot run away from competition if you want to be ABOVE AVERAGE. It is more worthwhile to INVST TIME and ENERGY to beat your competition as opposed to WHINING that you MADE a wrong decision. Dreamer 1) I never said i made a wrong decision and I admited taht i was also part of the herd mentality earlier in my post. I merely said it was better if some one had pointed out my options earlier before i decided what course to take 2) Not all profession and/or career with good pay will face a lot of competition. It depends on the supply vs demand. Unfortunately most people in asia at least adopt the herd mentality hence traditional "professional" jobs like accountant will continue to have a dearth of supply while other "professionals" such as geologist will continue to suffer a lack of supply. With the lack of supply you can be average and still command a better pay tahn say the thousands of other accountants. This is a clear example of what they call the blue and red ocean strategy. You move from a highly competitive environment (where i presume co (in this case) will be embroiled in price wars and move to something which you have a competitve edge(i.e. less competition). The competitive edge in my e.g. case above would be from the fact that not many people are working as a geologist hence the blue ocean. So yr arguments are clearly invalid |
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Apr 13 2011, 10:26 AM
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#7
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Anyway just something a bit out of topic, in malaysia anything is possible if you have the right cvonnections. U practically don't have to work and money keeps falling from the sky (like some of our dato who have connection.) Remember the klang MP who is clearly below average but living like a king?
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