actuary.................

feynman is better that you just directly tell them the proper term is 'actuary' instead of the non-existant 'actuarist', rather than going "actuary...... (insert sweating emoticon" all the time.

If I do so plainly, I'll be marked as a grammar nazi......

This post has been edited by feynman: Jul 25 2006, 12:58 AM

Think we've got to be clear on the form of remuneration we're talking about here.

A fresh grad can start his or her business and make tonnes of money if the venture takes off. However, he or she bears the risk of the business. The money received is in the form of PROFIT. Same goes for professionals who charge FEES. Sky is the limit on how much one can make.

Sales people earn a lot if one is really good. Really, the sky is the limit. I've read of a school leaver who drives a S-Type Jag in the papers, simply because he is blessed with the ability to sell insurance. It's not limited to that....lampe berger, cosway direct selling, etc. These are really people who do not usually declare their income and there is no statistics to provide how much they really earn. Honestly, RM10 - RM20K income is the norm. Money received is known as COMMISSION.

SALARIES are earned by people (proletariats as Marxists would call them) who are employed either by a company or individuals or even the government. They receive regular monthly income plus some perks.

Now, we have to be clear in the case of investment bankers. It depends on whether the banker owns the bank (or is a shareholder of the bank) or if he or she is employed by the bank. Investment bankers usually fund corporate exercises which are aimed at raising capital i.e. IPOs, mergers, acquisitions, etc.

Of course, if you own the bank (such as Nazir Razak of CIMB), you would be pathetic reading and contributing to this forum. There is so much more you can do. The sky's the limit or at least...Warren Buffet's Berkshire Hathaway has set the bar pretty high.

What we're really talking about here are guys who are being employed by investment banks. Yes, they look for brilliant grads. Wall street firms (synonymous with big names like Citigroup, SSB, Merryl Lynch, Lazard, etc) hunt top MBA grads (we're talking Wharton, Harvard, Kellogg here not even your MU, UKM, and other second tier universities) even before they graduate. But these are international investment banks. These graduates are also sought after by large consulting firms.

Closer to home, you don't need to be Harvard material to be working in investment banks in Malaysia lah. Some good foreign university (UM for local uni) with good degree is sufficient. You don't just dive into the IPO stuff initially but is involved mostly in research and drafting business plans for your boss. Starting salary is about RM2500 - 3000 but salary hike is good (unlike working in commercial banks).

No doubt, a lot of these people working in investment banks are smart, dress smart, talk smart and act smart (these banks give you training on how to look and feel smart!), but I wouldn't categorise them as having a good life. Stress is high. Mainteinance of lifestyle is high and at the end of the day, still drive Proton or Korean car, live with their parents or in an apartment. Bolehlah for fresh grad for first 2-3 years. But end of the day, they are still salaried employees/ professionals.

It's still the VCD seller, sales people and those who have the energy and entrepreneurship to make it on their own that makes the bucks! Now you know why we have so many people in suits and ties that end up broke with credit card debts (can't keep up with their lifestyle), and on the other end, we have the ah beng...with big gold chains, rolex, latest mobile phone, driving beemers, evos with a horde of pretty ah lians tagging along. Who do you wanna be?

u probably wanting to try good neighbour singapore...IB hiring freshie at S$3.5k to $5k

This post has been edited by Unbelievable: Aug 9 2006, 02:13 AM

arr.. go into petroleum (geologist)...

i knw smones father who gets paid US$1500 a day =D

1500 x 3.6 x 22 (22 working days in a month) = RM 118,800.

but hes 50 already =D

agree above. i hearing geologist is good earning too..my fren in oil industry

Due to the current high oil prices, oil industry has become one of the hottest industries at the moment. However, once the bubble burst, high paid might no longer be the case.

--
www.CourseCentre.com

actuary

lampe berger or any other direct sales

go to become pilot...
of course not MAS...

you need at least 10-15 years to get this figure

that if u got degree
the lowest is 1.5
if below than that
dun take the job
you not selling ur soul
u got what i mean

like someone said before
just grab the opportunity u got
than after got the experience
you can ask for higher salary

wow working on oilrig?

why issit because you cant find a job?

Actually grads with skills earn more than the standard business & law grads. Think of those with specialist skills in photography, video & animation, specialised health science, etc. The industry needs these people and they can charge RM5K per work done.

IT helpdesk....

at least 2k n above

feynman's comments were correct about the investment banks. Investment banks like GS, morgan stanley, Merill lynch, UBS, Credit Suisse, BarCap, JP morgan and even the smaller boutique investment banks like Lazard are highly selective in choosing fresh graduates. Firstly, you need to have a 2:1 and above results from a reputable universities, oxbridge, LSE or imperial grads are preferred but all candidates who compete with you would be from these unis too. Secondly, they highly prefer candidates with an internship in IB. I previously had interviews with two of the BB and I was rejected in the end . They pay 60,000 USD per annum salary + housing allowances + bonus. But, be ready with 80 to 120 hours of working hours per week.

And in Malaysia, the biggest investment banks are CIMB investment bank, Aminvestment banks, ecm libra avenue, aseam bankers, rhb investment bank, kenanga, osk etc. There are many more. And PLEASE do not expect that malaysia investment banks pay alot to freshies. They dont. In fact, the commercial banks like HSBC and Standard charted pay better starting salary. We are talking about a difference of around 500 to 1k. However, the investment banks in Malaysia pay very very good bonuses. When I was in cimb, bonuses are counted practically in years if you are in the front office role.

Hehe, dont think it will burst in anytime soon. Energy demand from China and India keep surging every year.

Agree that oil and gas always get a very good starting pay. My coursemate, graduated together with him in 2004, I heard he earned USD 4000 per month the moment he joined Schlumberger. Now I heard his salary is ard USD 8000 per month. He alr owned a big house and a car at his Melaka hometown. But all this comes at a price - he's always away from Malaysia, ended in the middle of oil rig abroad, performing 12 hours shift daily.

KN

long hours is one thing.. but as long as you enjoy working at that particular field, and we're satisfied, then ok lah..

bros, i wonder how is it to enter the investment banking route? there isnt a particular degree for it, so, i'm currently studying accounting and finance, should be able to enter IB in the future right?

Right. No specific degree requirement. What you study isn't as important as your grades. You can get in with Law, Economics or even Engineering. What matters is where you get your degree from.

The large ones like GS, MS, and ML conduct on campus interviews in prestigious business schools. However in Malaysia, they do not really have a presence here due to factors I can think of. Try smaller local ones.

If you're interested in investment banker, I advise you to be open minded, and don't have a specific idea of what an investment bank is. Expect to learn a lot, especially in relationships.

Average salaries are about USD 60,000 as an Analyst. Managing Directors got about USD 2 million for bonus alone last year. AVERAGE, take note. Some earn a lot more. This is in the States. I can't find an example here.

One of the highest paid, and also one of the most respected. Unlike MLM and VCD sellers

This post has been edited by allornothing: Dec 8 2007, 02:21 PM