What's your educational and work background?

highsulphur

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A very successful client of mine who is the head of an FX trading desk in an European Bank once shared with me that the secret to his wealth today was purely because he went for the walk-in interview years ago upon graduation. Nothing to do with his degree or education qualifications. Just pure and sheer dumb luck - and there's nothing wrong with it.

yup I feel the same. But obviously you need a certain character to thrive in a fo environment. There's no one model but ability to think and react fast is one of the key attributes.
 

Majestic12

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yup I feel the same. But obviously you need a certain character to thrive in a fo environment. There's no one model but ability to think and react fast is one of the key attributes.

Yes. However these qualities are not unique to a few individuals only. Therefore luck and blessings are the determining factor.
 

ahboy82

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This is a nice thread, nice reading posts from the engineers here.

How do u engineers attempt to build riches? We can nvr reach the bankers lvl, but can we even smell something close?

:(
 

wondrdoggie

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In my time, an engineering degree was the way to go. Being in the science stream was considered better than arts, gives you more options in the unis. And getting a 'professional' degree was preferred to a 'general' degree.

And so I tried to do all the 'right' things, science stream, professional degree etc. looking back, thank goodness I didn't go into engineering because I simply didn't have the aptitude and it would have been disasterous. I have come to a conclusion, study what you like and do what you are good at. Everything else will fall into place.

I used to work for IBM in the US. Lots of engineers around me including super smart scientists/researchers in their world famous labs. I would say for an engineer to make serious money, I think there are 2 ways.

First is to progress up a management track, especially in tech or production intensive industries. Many CEOs in these have an engineering background. Second is to continue the engineering track and own patents etc. or become operation directors or COOs. Actually many seniors engineers I know are pretty well paid.
 

h.y.o.m

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In my time, an engineering degree was the way to go. Being in the science stream was considered better than arts, gives you more options in the unis. And getting a 'professional' degree was preferred to a 'general' degree.

And so I tried to do all the 'right' things, science stream, professional degree etc. looking back, thank goodness I didn't go into engineering because I simply didn't have the aptitude and it would have been disasterous. I have come to a conclusion, study what you like and do what you are good at. Everything else will fall into place.

I used to work for IBM in the US. Lots of engineers around me including super smart scientists/researchers in their world famous labs. I would say for an engineer to make serious money, I think there are 2 ways.

First is to progress up a management track, especially in tech or production intensive industries. Many CEOs in these have an engineering background. Second is to continue the engineering track and own patents etc. or become operation directors or COOs. Actually many seniors engineers I know are pretty well paid.

Are the well-paid senior engineers from U.S? If from Singapore, do you mind revealing the salary range, if you happen to know?
 

h.y.o.m

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Diploma here, nursing

Good choice. It is a contrarian value investor's choice. Among the poly diplomas, the nursing diploma is highly unpopular and is one of the easiest to get in based on O Level cut-off point. Among the poly graduates, the nursing graduates enjoy among the highest starting pay. In terms of job security, nurses beat the bankers, engineers hands down. Good choice! I envy your job security:)
 

wondrdoggie

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Are the well-paid senior engineers from U.S? If from Singapore, do you mind revealing the salary range, if you happen to know?

Back in the 1990s, height of the dot com boom, Silicon Valley engineers were paid at least USD50-70k pa for a fresh graduate, plus signing bonuses. Some crazy firms even lease Z3 coupes for the best ones. I have so many stories of crazy dotcoms doing crazy things. Haha! In comparison, for finance guys in like Goldman sachs, they are laying around USD70-90k. That's the US and that's the past, not sure what's the market like now.

My statement is quite sweeping I guess. What I am trying to say is that whether engineering or finance track, you can make a good living if you have smarts and drive. However, generally, you make more money if your job entails sales, where its selling finance products or engineering/software solutions.
 

wondrdoggie

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Btw, in my last work, we were helping banks and even FMCG companies hire engineers for their sales, ops and analysts positions. They specifically wanted engineers for their ability to analyze and plan. :)
 

h.y.o.m

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Yes. However these qualities are not unique to a few individuals only. Therefore luck and blessings are the determining factor.

You are being rather humble. Credit goes to the individual who has the courage to seize the opportunity when good luck presents itself. All of us will have our fair share of good luck. One differentiating factor is that some do not let slip good luck when it happens.
 

h.y.o.m

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Back in the 1990s, height of the dot com boom, Silicon Valley engineers were paid at least USD50-70k pa for a fresh graduate, plus signing bonuses. Some crazy firms even lease Z3 coupes for the best ones. I have so many stories of crazy dotcoms doing crazy things. Haha! In comparison, for finance guys in like Goldman sachs, they are laying around USD70-90k. That's the US and that's the past, not sure what's the market like now.

My statement is quite sweeping I guess. What I am trying to say is that whether engineering or finance track, you can make a good living if you have smarts and drive. However, generally, you make more money if your job entails sales, where its selling finance products or engineering/software solutions.

Ahh ... this makes sense. The time frame you cited in the late 1990s were golden period for engineers. It was also during this time when Singapore's brightest students were lured into engineering. I know that because I was an engineering student then, though I was mediocre among the group. I am not trying to be humble when I say I met far superior engineers. My peers were smart. However, we all suffered bad timing. We graduate in time to catch the start of a down-trend. The dot-com bust hit us hard. When you have plenty of smart competition inside a shrinking pie, even the diligent and competent will have problems prospering. The engineering graduates who prospered are the ones who switched career and moved out of this shrinking pie, particularly those who went into banking.

I see similarities today with Singapore's brightest students wanting to study banking and finance-related courses, only to graduate into a shrinking banking sector.

These are cyclical economic phenomenons. It is hard to time it well. My advice for students and fresh graduates is not to make choices based on what pays the best. Make your choice based on your strengths and weaknesses, likes and dislikes. If you are good at your job and like it, the money will probably follow. Even if the money does not, at least you won't be unhappy.
 
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sashti90

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Hi, Graduated last year with a degree in accountancy and finance from SMU.

Did financial planning at AXA while in uni, joined full-time coz I realised that I actually enjoy the entire process of meeting the client, identifying needs, recommending and selling the appropriate products and writing up reports and submitting.

Compared to being an accountant, I think this job suits me better coz I am outgoing and hate being desk-bound for long hours. Very rewarding career :Dand thankful that I have a great team now that I am a manager.

It is definitely not an easy job- many uncertainties, no fixed income, no fixed working hours. You get freedom and lots of responsibilities. Just a step down from being an entrepreneur as the company develops and packages the products.

Overall, a good learning experience and can be a stepping stone for those who want to start their own businesses in the future.
 

Majestic12

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You are being rather humble. Credit goes to the individual who has the courage to seize the opportunity when good luck presents itself. All of us will have our fair share of good luck. One differentiating factor is that some do not let slip good luck when it happens.

Actually no. Some people's luck comes too early in life, some too late.

I seized my opportunity when it came and I succeeded. I know of others who seized similar opportunities and who failed. Luck was the determining factor and I am eager to pay it forward.
 

rottingapple

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Good choice. It is a contrarian value investor's choice. Among the poly diplomas, the nursing diploma is highly unpopular and is one of the easiest to get in based on O Level cut-off point. Among the poly graduates, the nursing graduates enjoy among the highest starting pay. In terms of job security, nurses beat the bankers, engineers hands down. Good choice! I envy your job security:)

thank you :) it is very secured as of now.
 

y2kbug

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Private degree in business management, stuck in a low level call centre agent job and part time retail jobs.

How i wish can go overseas for better life😩
 

frenchbriefs

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Actually no. Some people's luck comes too early in life, some too late.

I seized my opportunity when it came and I succeeded. I know of others who seized similar opportunities and who failed. Luck was the determining factor and I am eager to pay it forward.

is there such a thing as luck too early or too late?years ago i read this story about a japanese economics professor Takichiro Mori who taught trade theory in yokohama city university until he was 55 before he quit teaching to join his late father's humble real estate business.....years later he became the world's richest man,number one on forbes in 1992 and 1993 at the peak of japan's economy.

then years later i was watching this tv show,dragons den canadian series,theres this Jim trevelin the oldest guy on the show and one of the funnier ones,he used to be a police officer for fourteen years until he got sick of it and wanted to do something else,he noticed at the time that pizza chain restaurants was starting to become popular in the 1970s so he wanted to open one......yada yada yada twenty years later he has over 300 restaurants in his chain boston pizza and nearly 600 mil networth.

theres alot of people around us with the entrepreneur spirit and the capitalist instincts that do not realise it until much later in life.

then theres also sheldon adelson who is a scumbag,but theres no denying he is a born businessman/entrepreneur.....hes started over 50 companies in his lifetime,he was a millionaire twice and went broke before the age of 30 back in the 60s when being a millionaire meant something,not like today when any tom dick and harry can become millionaires and drive ferraris and whatnot.back in the 1960s,there was only 4000 millionaires in america,today theres more than 9.3 million.one of his biggest success was a computer fair COMDEX that he sold for 800 million.

and then theres mark cuban,and richard branson,all entrepreneurs from a young age,all with multiple companies each one successively bigger and bigger.then theres chuck feeney and li ka shing and robert kuok and tan kah kee.....born businessmen,i dont think these people needs luck,they just do it over and over again,creating winner after winner companies,like mike tyson and muhammad ali creating K.O.s.
 
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henrylbh

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Generally every month one lucky fella will strike big sweep of 2.5m or toto.
 

birdbirdman

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Trading. I must admit I was at the right place at the right time. I remember my boss asking me a couple of years I was hired what was my degree and where I studied. From that I doubt my educational background was critical in me getting the job. I think back then your education qualifications probably was needed to avoid you getting the first cut but the interview process was probably the most important. This was for private sector. Public sector would be very different, requiring stellar academic results

Hi, mind to share more about what does trading in a bank involve?
 
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