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 Let's Talk Salary v8, Sharing Thread

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Financier
post Nov 26 2018, 10:18 AM

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QUOTE(tishaban @ Nov 25 2018, 01:25 PM)
No I didn't. Failed the BCG interview at the 2nd round some time back. I'm not going ahead with McKinsey after passing their PST back in May, I'm prioritizing on other things now.
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What other things is more important than a job in McKinsey! Let me know pls! icon_idea.gif icon_idea.gif
Financier
post Nov 26 2018, 02:58 PM

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QUOTE(tishaban @ Nov 26 2018, 02:26 PM)
biggrin.gif if you must know, I'm an experienced hire and MBB typically hires at the consultant level only, let's ignore the partner level hires for now. Going in at that level is a step down in terms of responsibilities and salaries for me. Yes the McKinsey pedigree is nice, but I have a decent enough resume and I didn't want to take a pay cut.
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So what do you do now?
Financier
post Nov 26 2018, 04:18 PM

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QUOTE(tishaban @ Nov 26 2018, 03:17 PM)
Freelancing in the financial services industry while debating my next course of action ie. continue freelancing vs permanent job in Malaysia vs moving to another country to work there.

Anyway to get back on topic of salaries, for those freelancing and getting day rates, this is the formula I use to calculate annual/monthly salary.
Assuming your daily rate is RM1,000 per day to keep calculations easy, your annual salary is

(261 work days - 18 public holidays in MY - 25 days combined annual leave + MC) x RM1,400 = RM218,000
If your contracting company doesn't pay EPF, deduct 12% from that amount = RM192,000 (roughly) or about RM16,000 per month gross before taxes.

Suddenly that interesting RM1k per day rate doesn't look as attractive anymore  biggrin.gif
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What do you provide? Investment Management? Advisory?
Financier
post Mar 21 2019, 07:58 PM

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QUOTE(fiqie @ Mar 21 2019, 04:34 PM)
but need to do project monitoring and most important is, all the info supplied to CEO must be very precise. my CEO very particular and coming from technical background. lucky got engineering experience.
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Just wondering whats the career prospect for a PA to CEO?

Forever become PA?
Financier
post Mar 22 2019, 01:48 PM

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QUOTE(PoPoBear @ Mar 22 2019, 01:22 PM)
Someone I know from one of the biggest bank in Malaysia get promoted to become a HOD for their Europe branch after serving the CEO for 3-4 years.
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Hmm thats a red flag...to promote someone to hod need someone with business and front office experience... Not PA experience..
Financier
post Mar 26 2019, 12:09 PM

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QUOTE(myroy @ Mar 25 2019, 10:55 AM)
Company from big 4 (De*****) called me to offer position as Cloud Engineer (Azure)
I have total 3 years experience
Now working as Cloud System Engineer at Cloud Service provider with salry Rm3500/month
They asked me how much i expected?
What figure should i give?
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Have they already offer you? If they already offer you then you can comfortably ask for higher...

If its only an invite for an interview, then be realistic..

Also, what's the position you applied? Senior associate i assume?

If they already offer you and you applied for senior associate - stretch your figure to RM5k

If assistant manager title, RM6.5k is a good start...

I got the above figures from glassdoor, i took the top range for the respective position..

Do note than a company like delo**** will always try to lowball you..so stretch your expected salary by a comfortable margin to offset the reduction in the final offer..

This post has been edited by Financier: Mar 26 2019, 12:44 PM
Financier
post Apr 2 2019, 01:16 PM

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QUOTE(ZeonKid @ Apr 2 2019, 10:16 AM)
3rd update at 5.5yrs exp

Job Title : Actuarial assistant manager
Job Desciption : Insurance Pricing
Age : 28
Years spent in company : around 5.5 Years
Company : Local Insurance Company
Industry : Insurance
Employment Level : AM
Experience before joining : 0 Experience
Highest paper qualification/ education background : Associate Actuary (ASA). One last 5 hours exam to become fully qualified actuary
Salary : 12.5k
Bonus : 2-3months
Average working hours : 9am to 7-8pm on non peak. If peak then around 10pm.
After working will spend at least one hour to study at home, weekend allocate at least 8 hours on studying for exams since I joined the industry. So life is basically work and exam with little social life. To make it worse, I am not a smart person and failed the same exam a few times.
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Wow doing good!
Financier
post Apr 10 2019, 04:22 PM

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QUOTE(mmw5610 @ Apr 10 2019, 10:36 AM)
which salary would you take monthly, 22k MYR to 10k SGD  ? assuming benefits and career aspiration are the same.
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That's underpaid... Try nego to get SGD13-15k...

Regarding your question, depends on age and status...

If youre single, by all means go..

If youre married with kids, RM22k is comfortable..


Financier
post Apr 23 2019, 11:30 AM

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QUOTE(PoPoBear @ Apr 23 2019, 04:07 AM)
Hi do you have experience working in SG?

I was looking around the net to find the financial breakdown (less income tax, etc etc) for Malaysian working in SG, but still can't find a reliable ones.

Was thinking whether it is worth a shot to join a firm that offers 5K SGD vs 8K MYR.

Working in Malaysia, I can roughly calculate what is my net income, but working in SG is a bit hard as i don't know how much, in average, does decent renting, decent food and life usually costs with all those deductions. Plus I was wondering whether is it worth to forego EPF since working in SGD does not give you any pension benefits.
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SGD1500 per month is the average lifestyle there..

Could be higher if you have no will power haha..

This post has been edited by Financier: Apr 23 2019, 11:30 AM
Financier
post Apr 23 2019, 01:23 PM

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QUOTE(jitshiong @ Apr 23 2019, 01:09 PM)
I wonder how did this SGD1500 is termed as average. Mind elaborating how did you arrive at this figure?
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700 rent
150 transport
50 phone bill
600 food

Total 1500

How much you spent?

This post has been edited by Financier: Apr 23 2019, 01:24 PM
Financier
post Apr 25 2019, 01:19 AM

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QUOTE(jitshiong @ Apr 24 2019, 05:33 PM)
I see, you meant minimal cost of living in Singapore.
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That's why I said need a lot of will power haha
Financier
post May 16 2019, 09:33 AM

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QUOTE(ventolin @ May 15 2019, 02:22 PM)
August 2017 - June 2019
Just accepted a new offer...

Job Title : Account Manager
Age : 27
Years spent in company : Just joined
Company : Global tech start-up
Industry : Data & tech
Tenure : Permanent hire
Employment Level : Manager
Experience before joining (years) : 3 years
Highest paper qualification/ education background : Master's degree
Location : Kuala Lumpur
Average Working Hours Per Week (incl lunch hours): 35 hours
Basic Salary + Fixed Allowance : RM11,000 / month
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Wow already manager at 25? With 1 yr experience? Thats quite easy lol
Financier
post Jun 6 2019, 07:48 PM

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QUOTE(UrbanGraduate @ Jun 4 2019, 11:55 PM)
Hi everyone, Selamat Hari Raya to everyone in this forum!

Job Title: Graduate Management Associate
Job Description: Rotational Basis
Age: 24
Years spent in company: Received offer, 0 at the moment
Company: International Bank
Tenure: Permanent
Employment Level: Executive
Experience before joining: Interned in a Big 4 under their advisory service line, servicing financial services & banking clients & a group finance role at a local GLC holding in Damansara.
Highest paper qualification/ education background: Bachelor's degree (hons.), majoring in Accountancy
Location: Kuala Lumpur
Average Working Hours Per Week (incl lunch hours): in paper, 9am-6pm (Seniors in the program stated that you may be working late eg: 11pm in origination, DCM)

Monetary Payout
Basic Salary + Fixed Allowance: 5k+
Performance, Variable Bonus & Commissions (months): HR to explain on On-boarding

Benefits (where relevant) :
Health Benefits: Annual Group Insurance, immediate family covered, free health checkups and dentals at panel clinics
Transport Benefits: Claimable if outstation
Food/Entertainment: Claimable if outstation
Mobile / Internet / Gadget Benefits : Laptop provided
Flexi Working Hours: Rotation-Dependent
Other Benefits: Better tier credit cards (with full waivers incl for SST), preferential staff rate for personal loans, mortgage and auto finance, gym, employer sponsored PRS scheme (with portfolio options), standard annual leave, volunteer hours is convertible to leave days, MC cost & certification/online learning reimbursement.
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I kinda know which bank, City bank right? Haha just curious about Origination, foreign banks in Malaysia can source deals?

This post has been edited by Financier: Jun 6 2019, 07:52 PM

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