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 Working in Singapore V20, All About Living in The Little Red Dot

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iceypain
post Apr 11 2017, 09:47 PM

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anyone here with hsbc visa infinite or citi prestige?

pros & cons for each? i'm mainly looking for the travel benefits.
iceypain
post Apr 12 2017, 11:11 PM

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QUOTE(Fiona Chin @ Apr 12 2017, 01:52 PM)
I got the HSBC visa infinite as corporate card. No choice have to use it.

Pro - free airport transfer, free lounge access, free golf course in SG and some discount in other places, petrol discount.
Cons - Dollar to air miles ratio is low, annual fee waiver success rate almost nil, expensive annual fee, 600+ without HSBC premier acc, 400+ with the account. 600 nothing to u la annual income 120k  wub.gif .
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thanks. free green fees can easily make up for that 600 bucks
iceypain
post May 5 2017, 03:18 PM

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QUOTE(CallMeGucci @ May 4 2017, 10:38 PM)
Thanks for replying! You're probably right, but the industry isn't what it used to be, no? With a slower deal flow leading to large fall in recruiting in banks. I have looked at everything and have basically made my decision. I just wanted some insight into whether it is possible to move from Malaysia IB to SG IB after finishing my bond, or if SG banks prefer to hire fresh graduates and promote from within.
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Yes, some have gone from msian IB to SG IB, typically after 4+ years with a reset analyst rank. It isn't an easy transition but then again it isn't cakewalk getting in straight out undergrad either, even with an ivy league or similar degree. This is from first hand experience though on the buy-side not IB.

This post has been edited by iceypain: May 5 2017, 03:19 PM
iceypain
post May 5 2017, 09:25 PM

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QUOTE(CallMeGucci @ May 5 2017, 06:58 PM)
Hi, nice to get some realistic insights. Why the reset to analyst rank? Is this industry testament that experience in Msian markets is looked down upon and unable to garner recognition from international institutions? I presume it is the same story on the buy side since the deal flow here is markedly smaller. Also, did you begin your career on the buy side in SG or moved from Msia?
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Yes, that is the prevailing view but even with the demotion compensation goes up. Hard to compare when even junior professionals in top tier banking and buyside roles in SG make north of RM50-60k/m all-in. I started in Msia but I would say that there are very few "good" buy side seats for fresh grads and these pay comfortably above what local IBs pay, pm me if you want names--i prefer to stay somewhat anonymous.

This post has been edited by iceypain: May 5 2017, 09:26 PM
iceypain
post May 5 2017, 11:39 PM

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QUOTE(ThanatosSwiftfire @ May 5 2017, 11:02 PM)
Traditional or alternative?
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mostly alts i.e. pe/hf/maybe vc. compensation at traditional/long-only firms tends to lag behind a bit
iceypain
post May 12 2017, 06:48 PM

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QUOTE(vincentleong @ May 12 2017, 03:11 PM)
Um... Not really. I've been driving my Malaysian car into Singapore everyday. But then again, my colleagues said I should really get a car in Singapore instead. They claimed that even with COE thrown in, it's cheaper to get a car in Singapore than having to pay for the VEP and other costs on a daily basis over 10 years. I have not worked out the TCO to determine whether that is true. If any sifus here can advise that'd be great as well. notworthy.gif

Oh, to add context, I'm already working in Singapore. smile.gif
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you can lease a spot at the sail condo. it's 500+ a month
iceypain
post May 28 2017, 11:13 PM

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QUOTE(WallChecker @ May 28 2017, 05:07 PM)
First part is true, but MOM has right to challenge and deny application. Second part is true as well.
Can, sure can.. MYR500k = Approx. SGD160k. I don't have exact figure of IB analyst, but I can roughly guess their total compensation (including bonus) is more than SGD80k p.a. (Any IB banker here can correct me if I am wrong? smile.gif )
Assuming flat 80k with no increment for next 4 years, that makes an average of 6.6k monthly.
Minus expenses for rental, living cost, statutory deductions and entertainment = 2.6k monthly (I know this may be huge amount for some - But let's assume expense for a Single bach and Ivy league grad).
If he/she has CPF/Pension plan, take home will be lesser, however actual earning is more than 80k p.a. now.
So, his/her saving p.a. is about 48k, and 4 years about 192k. Minus 160k of tuition fees.
That will leave him/her approx. 30k, for his/her vacation, saving, family, partners, etc.

p.a. = per annum.
Above is my personal assumption, definitely doable. Flat 4 years total compensation is unlikely, so gross income is higher over the years.
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total gross compensation is closer to 150-170k for first years, so yeah def not impossible to pay back 500k ringgit in 2-3 years.

but i should add that ivy league undergrad would cost at least 1M ringgit these days

This post has been edited by iceypain: May 28 2017, 11:16 PM
iceypain
post Jul 24 2017, 05:06 PM

On my way
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QUOTE(Secruoser @ Jul 24 2017, 04:14 PM)
Hi guys, what's the average rate for a bedroom with private bathroom within walking distance to MRT, and what's considered a 'good deal' or 'best rate'?
I'm paying about 3.5k for a 1br unit, central location. Anything below 2k is probably a good deal unless you go really far out.

 

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