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 Lets talk salary v7

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fuzzy
post Dec 18 2015, 06:13 PM

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QUOTE(herlivst @ Dec 18 2015, 03:14 PM)
It is relatively low. A number of competitors are providing better pay
Its not a shared service center but a research company which is subsidiary of US based Fortune information services company

If you tracked my post... my initial salary was WAY lower than this. Close to 30% less from current salary
I was lucky the management deemed me to perform well and been getting promotion
Some recruits started at even lower than mine, the only good perks is the rather numerous leaves and such
Hence we have such high turnover (the low pay coupled with frequent significantly heavy workload)  laugh.gif
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It's far too low bro...

I think you deserve way more. Glad you are getting recognised though.
fuzzy
post Feb 11 2016, 06:04 PM

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QUOTE(Darkripper @ Feb 10 2016, 12:53 AM)
Guys, i'm having a dilemma and would like to ask all the sifu for some opinion.

I'm a civil engineering student (going to grad in one semester) and i'm under a scholarship bond from a local GLC (construction/developer)

I'm anticipated to serve my bond for 3 years ( according to the agreement), however, now they had developed a new program (graduate program), in which the program would last for 5 years and i will be bonded to an extra 3 year after the bond ( total 8 years).

The program would train me in order to become a PE/IR and will borne all the costs associated with it. However i am doubting the quality of the program as i had attended some of their program before and it was just bad and boring.

I'm still considering which option to take, 3 or 8. As i had some previous bad experience of the company culture during placement with them (2 times internship).

Any advice sifuss?
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Do not sign a 8 years bond. How much does the training cost? Usually around GLC, 10-15k = 1 year bond, so unless the training and benefits is worth 150-200k, it is not worth it. Taking this bond also means you are not allowed to take any other forms of scholarships, which can come with a much much laxing requirements (some even don't have bond periods).

Plus, 8 year bond essentially discourages other companies from buying you out and in a way, might impede on your immediate salary jumps.
fuzzy
post Feb 25 2016, 05:27 PM

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QUOTE(MeToo @ Feb 25 2016, 05:13 PM)
Usually they will negotiate hiring u for say 2 years with a fixed signining bonus. Whereby u need to stay for 2 years.

In my industry its quite significant and we usually treat it as 2 year's performance bonus.
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Sign-on doesn't come with bond la. It's just a carrot and partial compensation for your move.




fuzzy
post Feb 25 2016, 05:41 PM

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QUOTE(MeToo @ Feb 25 2016, 05:29 PM)
it depends.

Cause my industry sign-on is not 10k, we talking 6 figure, u take the money and leave in 3 months?

Compensation for move might be diff la, talkign about relocation fee etc liao.
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6 figures is for what level?

My sign-on came with no caveat, even though it was a huge sum, simply because they had to compensate the coming and deferred bonus, share options, etc etc ... I was going to be missing out by moving to the new company. So yes, I could leave tomorrow and keep that amount. Compensation for move here doesn't refer to relocation fees.

The only bond I have is simply due to the sum they need to pay to the STF but even that is strange considering the sign-on far exceeded the STF sum.
fuzzy
post Feb 25 2016, 06:52 PM

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QUOTE(MeToo @ Feb 25 2016, 06:47 PM)
is for my lowly manager level.

Also its rare for a sign-on with term.
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Ya, sign-on usually don't come attached with terms. But I won't be surprised, especially when talent is increasing rare.

I asked and got paid an crazy amount of jump partly due to this.
fuzzy
post Mar 4 2016, 03:10 PM

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QUOTE(Belphegor @ Mar 4 2016, 12:46 PM)
I shared previously but I think it sank down the drain. laugh.gif

Age: 29 as of 2016
Job Title : Event & Marketing Executive
Job Desciption : Basically "bao kah liao". laugh.gif What also need to do. From marketing to accounting, dispatch, operation, coolie, driver, designer also involved. 
Years spent in company : 1Y5M
Company : Chinaman company
Industry : Retails
Employment Level : Executive
Experience before joining : 4 months
Highest paper qualification/ education background : SPM
salary : RM 2800+ allowance
Location: Shah Alam

I am serving my resignation notice and next week would be my last. Have a raise of more than 25% increment on next job and I have no complains. laugh.gif Total experience would be around 2 years plus. Many forumers here said is close to impossible to have more than 20% increment on job switch, but I guess what you can do is to prove to them that you have the skill sets that they are looking for. icon_rolleyes.gif

My plus side would be the events I did during free time. Been running charity events since 2011.

My ultimate target
- Have at least RM5000 in two years time
- Passive income of at least RM1000 per month (Before 35)
- Involve in business
- Savings for future
- A HOUSE!
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Good on you. To those forumers who say it is impossible to get 20% for a jump, why do you even bother to move then?
fuzzy
post Mar 28 2016, 05:33 PM

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From a compensation standpoint, it is not worth the jump.

From a learning standpoint, it is worth consideration.

From a growth standpoint, it's debatable. If you have spent 9yrs and they have not given you a chance at being a manager, what makes the coming 3-4 years any different?
fuzzy
post Mar 29 2016, 07:36 PM

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QUOTE(shinchan99 @ Mar 29 2016, 09:18 AM)

Questions for thought :
1. Should you gain more experience / different knowledge from different company culture and industry sacrificing monetary terms?
2. Considering first question, at this age should I be focused more on learning as opposed to monetary terms?
3. Considering second question, at my age just starting a family , what should be a better choice? Experience VS money ? ( assuming you have a decent life now, wife is actually working, going to have 1st kid in this coming year, at the moment sufficient money to pay mortgage, car loan and house expense.. )

Anyone can share their experience.. they call this, mid life crisis eh ? biggrin.gif
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1. Ideally, no. You are not a junior staff, so I'd be frank and say any knowledge and experience gain needs to go towards building your career. Not job, career. If taking a small sacrifice can ensure you get a good bump later on, it is worth it. But if it's just another run at the tracks, then do think twice.

2. No, you should be focused on building a sustainable career. Learning is part of it, so is monetary. It is okay to think about both in tandem. You want to learn skills and knowledge that contributes to your growth, not learning what you do not like to do. With luck you might experience the latter and still come out better, but that is not a common occurrence.

3. That is something you have to ask yourself. I mean if whatever you earn now covers for your expenses, your new role will also covers it so I don't see the downside of making the move. But, making a move involves new culture, new colleagues, new boss, new environment which can help or hinder you so that is a risk you have to be aware and think hard.
fuzzy
post Mar 30 2016, 11:24 AM

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QUOTE(shinchan99 @ Mar 30 2016, 09:04 AM)
Thanks fuzzy.. Your comments are very well built with experience smile.gif  thumbup.gif

I'm certain for what I currently want which is definitely equipping myself with more knowledge from different company.. As mentioned before its a manufacturing plant and I can definitely learn more than trading.. But this price tag definitely  comes with a huge sacrifice on my current life.. 

Anyway just an update:
I wanted to ask about my offer letter since there's no reply for about 1 week+ now. So yesterday called one of the HR mobile but didnt pick up, probably I called during lunch hour so didnt pick up.. Tried again after work but still didnt pick up.. Drop whatsapp message, acknowledged read around 12am + .. This morning 8am called again still didnt pick up sad.gif What do you all think? "BIG" Bhd company gives verbal confirmation, chances of kena FFK is high or low?

Now my future is hanging.. Already tender at my current company, at the same time no news from future company..  rclxub.gif
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Wait, why would you tender before signing the offer letter from the new company? That's not an advisable move.

Verbal confirmation always mean absolutely nothing. While I love to say my HR peers are efficient, sadly most are not so that might explain it. Maybe they haven't gotten the sign off so don't dare to talk to you?
fuzzy
post May 24 2016, 02:19 PM

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QUOTE(MaxReddevil @ May 19 2016, 09:24 PM)
Job Title : Senior Associate
Age : 27+
Job Description : Tax compliance
Years spent in company : 3 years + 7 months
Company : Mid tier public accounting firm
Industry : Audit and Taxation
Tenure : Permanent
Experience before joining : None, first job since graduated.
Highest paper qualification/ education background : Bachelor of Business + CPA
Salary : RM4,500

Too low?
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Looks low
fuzzy
post May 24 2016, 05:09 PM

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QUOTE(ms749 @ May 24 2016, 04:56 PM)
Job Title : Equity research analyst
Age : 26+
Job Description : Analyst public listed companies, give buy sell recommendations on stocks
Years spent in company : 1 year + 6 months
Company : Local fund
Industry : Investment, equity market
Tenure : Permanent
Employment Level : Junior executive
Experience before joining : None. First job since graduated
Highest paper qualification/ education background : Both degree and masters overseas
Salary : RM 3,900 (basic + fixed allowance) + 6 month bonus

Underpaid or reasonable?
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It depends on what field you are specialising in. But generally I think it trends around 5-12k.
fuzzy
post May 24 2016, 05:21 PM

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QUOTE(ms749 @ May 24 2016, 05:13 PM)
Field as in? And that salary with my current qualifications or after gaining a few years of experience?
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Field as in which sector are you analysing on? If you are doing the usual masses it would generally be lower. The last I remember, energy sector and some of the more niche ones (for the life of me I cannot recall) was pretty hard to get, thus we were paying top quartile to get them in.


fuzzy
post May 30 2016, 02:53 PM

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QUOTE(TechieGuy93 @ May 27 2016, 10:21 PM)
I have a question about the pay of working on a national holiday/rest day.

My contract says that I don't qualify for overtime unless by law/Employers guidelines change.

Do I still get paid 1,1.5,2,3 times (or whatever rate) if I work on a rest day/national holiday?

Btw, over 5k rm salary.
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Nope, you would probably have a provision to claim meal allowance or something similar to that. It will be a fixed rate of certain amount rather than the 1.5x, 2x OT rates.


fuzzy
post May 31 2016, 01:49 PM

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QUOTE(Quang1819 @ May 30 2016, 05:06 PM)
But the thing, when a fresh grad work for 3 years, would one get 7k? I definitely don't think so.
At least also 5 or 6 years to reach a clean 7k.
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Mileage might vary la for different people. I started like under 3k and now is in the five figures in just 5 years.

Timing, luck and opportunities sometime comes together.

Edit: coz brain farted

This post has been edited by fuzzy: May 31 2016, 03:04 PM
fuzzy
post May 31 2016, 02:18 PM

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QUOTE(Belphegor @ May 31 2016, 02:05 PM)
How I wish I could get salary jump like you did. sad.gif Started as 2k nett, now close to 4k after 2 year. Don't know when only I can hit 5 figure salary. sad.gif

Which field you in and what position you holding?
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I'm in the hated field of HR smile.gif ... I'm currently heading the comp and ben dept in a FI smile.gif

Don't fret too much about it I guess? I had plenty of luck and good timing coupled with right opportunities. So, keep working at it and be hungry, things will happen.
fuzzy
post May 31 2016, 03:04 PM

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QUOTE(siacw04 @ May 31 2016, 03:00 PM)
From 3k jump to 90 over k? What industry are you in?
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Whoa, you caught a massive mistake I did.. sweat.gif

Will rewrite it to reflect reality..
fuzzy
post May 31 2016, 04:54 PM

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QUOTE(Quang1819 @ May 31 2016, 04:40 PM)
Yeah, no doubt those help alot. But in the norms, it doesn't happen all the time.

3k to a five figure is indeed an impressive jump within just 5 years. Is your company in HR industry or you're in the HR department of a company in other industry?
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I'm in the financial industry.. started around 3k+, there was an adjustment to the unions which also impacte the non-union, so I got push to 4k almost immediately, then coupled with very generous increments and promotions, by the 3rd year i was touching 7k. I left to join another place, and got my 30% jump, didn't enjoyed it and quit after 6 mths, got head hunted for another role and i asked for another 30% .. a year or so in, was asked to head a dept so i asked for double and I got that.

Definitely I won't claim it is the norm, but I think all the relationships you build, the expertise you hone and the experiences you amass will come to fruition so keep at it and keep your heads up.
fuzzy
post Jun 6 2016, 10:45 AM

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QUOTE(_azam13 @ Jun 5 2016, 10:35 PM)
depends on what job you're talking about. are you talking about research guys? fund manager? or back office(support)? or economists?
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Those people doesn't sit in Finance though.
fuzzy
post Jun 7 2016, 09:22 AM

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QUOTE(_azam13 @ Jun 6 2016, 09:16 PM)
subcategory investment or asset managemet. lol. i wasnt referring to corporate finance or something that specific

edit: ah i know what you meant. shouldve read his/her carefully. yeah my friend works in Finance department, i think he's confined to his desk for most of the day. that kind of thing drives me mad. thank god my job lets me go outside and meet people
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Ok la, you can go back 5.30pm every day except during budget season tongue.gif
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post Jun 28 2016, 07:56 PM

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QUOTE(Igloo0000 @ Jun 18 2016, 04:17 AM)
Something I find interesting in this post is that some people here say they are Executive/Sr. Executive level, and I start wondering do we have a different definition of what Executive means. Executive level in my understanding is people above me, probably earning millions a year, with at least an Executive VP title. And I don’t make this up, if you go to global recruiters hiring Executive level people, they are looking for at least USD 300-500k base plus all sort of bonuses/stocks which can stack up to million.
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That's because Asians value titles a bit too much, thus there is a seperation between a job title and a grade title. Executive is usually referring to your C levels, but over here it is the entry level, followed by the managers, then the AVPs, the VPs, the SVP, maybe the EVPs, then Directors, MDs, and only your C suites.

I have to reteach this every time I am running the compensation survey because it is aligned with global standards thus I keep having to remind the heads that executives do not mean the entry level positions.

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