Ask A Headhunter!

[fallenicarus]

is it true most professionals of salary 4k and above received more then 30 days of paid annual leave?

No. It has been seven years and four companies since I drawn more than 4k monthly. Even now, basic annual leave is not abbove 30 days. Though if you count other types of leave (i.e. family care, child care, etc) then it does get above 30.

 

[flyerfox]

Hi HH, what do you think of a project finance career with Japanese banks? Heard that jap banks are quite hierarchial and that Japanese employees are treated better.

Any idea on where the PF market is heading to now, especially in the oil and gas indsutry?

What is the career progression like in a Jap bank?

Thanks in advance.

Sent from Sony D5833 using GAGT

 

[hawthawthawt]

Hello HH,

wad is the normal period for the HR to contact you?
it been 3 wks still no news.
the company i applied is quite a big company.

thank you!

 

[Ask A Headhunter]

is it true most professionals of salary 4k and above received more then 30 days of paid annual leave?

This is definitely false, unless one includes things like childcare leave, paternity leave, etc

Hi HH, what do you think of a project finance career with Japanese banks? Heard that jap banks are quite hierarchial and that Japanese employees are treated better.

Any idea on where the PF market is heading to now, especially in the oil and gas indsutry?

What is the career progression like in a Jap bank?

Thanks in advance.

Sent from Sony D5833 using GAGT

2 seperate things.

Working in Japanese banks, very structured, usually lower base salaries but much higher variable bonuses, employees treatment however, is on case by case basis depending on who you report to.

As for project finance, this is an area which Japanese banks are very good in because they have a lot of japanese companies who are not banks based in Singapore and South East Asia in general who have strong expansion plans (although this has slowed down somewhat as with most economies)

They also have limited competition, except for places like HSBC, or the other 3 local banks

This is because Project finance falls under corporate banking, however most European and American banks are not really into corporate banking (bar some exceptions) and more focused in investment banking.

Hello HH,

wad is the normal period for the HR to contact you?
it been 3 wks still no news.
the company i applied is quite a big company.

thank you!

Usually 1 to 2 weeks, unless the actual manager who interviewed you is not around due to overseas trips, or if they are exploring someone to transfer internally from another department

 

[ahjunlah]

Sorry HH, did you miss out my qn? Hahah

 

[flyerfox]

This is definitely false, unless one includes things like childcare leave, paternity leave, etc



2 seperate things.

Working in Japanese banks, very structured, usually lower base salaries but much higher variable bonuses, employees treatment however, is on case by case basis depending on who you report to.

As for project finance, this is an area which Japanese banks are very good in because they have a lot of japanese companies who are not banks based in Singapore and South East Asia in general who have strong expansion plans (although this has slowed down somewhat as with most economies)

They also have limited competition, except for places like HSBC, or the other 3 local banks

This is because Project finance falls under corporate banking, however most European and American banks are not really into corporate banking (bar some exceptions) and more focused in investment banking.



Usually 1 to 2 weeks, unless the actual manager who interviewed you is not around due to overseas trips, or if they are exploring someone to transfer internally from another department

Thanks for the reply, HH.

Just wanted to know what you think of project finance for natural resources in this economic situation? I'm curious why the bank is hiring when the industry has seemed to be taking a beating with many projects being held off. Or is project finance generally recession proof?

Sent from Sony D5833 using GAGT

 

[Ask A Headhunter]

Hi HH,

If the interviewer ask you to prepare a 2min intro, do they usually want to hear about your past working experiences or your personal strength?

Also, for banking industry as a fresh grad, is pfc a good position to start with? Heard from a friend that more than 70% cant hit the threshold amount.

Thank you.

2 min intro can be anything really, but should really focus more on achievements usually for maximum benefit (especially if the achievement is big, like you lead a big project for example)

This will differentiate you and other people

for fresh grad, it depends on what you want to do later, people who stay in PFC for long will end up becoming private bankers in the long run, or something connected to it including investment counselors or assistant relationship managers

It's true that PFC is difficult to start off with, but if you can do really well, it also means faster promotions.

 

[Ask A Headhunter]

Thanks for the reply, HH.

Just wanted to know what you think of project finance for natural resources in this economic situation? I'm curious why the bank is hiring when the industry has seemed to be taking a beating with many projects being held off. Or is project finance generally recession proof?

Sent from Sony D5833 using GAGT

project finance is generally quite recession proof, because a lot of companies plan for projects long term and long time ago and need financing, and also because a lot of companies see a lot of potential in emerging markets (like Myanmar, Vietnam, etc) but need help to expand their operations in lower cost countries.

 

[ahjunlah]

2 min intro can be anything really, but should really focus more on achievements usually for maximum benefit (especially if the achievement is big, like you lead a big project for example)

This will differentiate you and other people

for fresh grad, it depends on what you want to do later, people who stay in PFC for long will end up becoming private bankers in the long run, or something connected to it including investment counselors or assistant relationship managers

It's true that PFC is difficult to start off with, but if you can do really well, it also means faster promotions.

Thank you HH.

For banking industry, can you advise on what positions are available for fresh grad focusing on sales/front end? Personally doesnt like back end job, which are more desk bounded?

 

[ruixiang92]

Hi HH,

In a dilemma between a career in big4 audit vis-a-vis starting in internal audit of a foreign bank.

Would like your advice on career progression between these two.

Thanks!

 

[ABuNeNe]

My notice period is 3 months, is it ok if I request to serve 1 month and pay the other 2 months?

 

[youthinksp]

How long should I wait to follow up after an interview?

Hi HH,

I went for an interview last Wed with a large firm which I'm really interested in. Very anxious, hoping that I'll get in. How long should I wait to follow up with the interview?

 

[Ask A Headhunter]

Thank you HH.

For banking industry, can you advise on what positions are available for fresh grad focusing on sales/front end? Personally doesnt like back end job, which are more desk bounded?

If you are looking for sales job then you must differentiate between 2 types.

Sales to companies or sales to individuals

If sales to companies then you can start off with PFC level but if sales to corporates then you can start off either in SME banking (most likely) or corporate banking (highly unlikely)

Candidates who start at PFC level will progress to priority banking and finally to private banking

Candidates who start from SME banking usually over 5 years or more will progress to corporate banking. Although possible, it is highly unlikely to start from corporate banking

Hi HH,

In a dilemma between a career in big4 audit vis-a-vis starting in internal audit of a foreign bank.

Would like your advice on career progression between these two.

Thanks!

Depends, working in big 4 means you have the option as well of covering other industries, as well as potentially insurance industry or asset management industries or private equity

by definition of foreign bank you must also include whether it is a retail bank, corporate bank, custodian bank, private bank, etc to be able to see the progression

Do note that working in a big 4, progress is usually more or less guaranteed (unless you screw up), but working in a bank is highly volatile (work in some foreign banks for example, and you will get to a stage where you don't get pay increments, or pathetic pay increments, because other parts of the world are not doing well for example), however during good times the pay increases are more as well

If ultimately your goal is to progress to work within a bank, then might as well start off with them.

It is also possible to start off with audit and move to compliance or risk related roles (specifically operational risk), be it whether you start with a big 4 or doing audit within a bank.

My notice period is 3 months, is it ok if I request to serve 1 month and pay the other 2 months?

depends on contract, some contracts are worded such that you can pay 2 months (subject to management approval), however some contracts are worded in a way that it is not possible.

Hi HH,

I went for an interview last Wed with a large firm which I'm really interested in. Very anxious, hoping that I'll get in. How long should I wait to follow up with the interview?

If it is a large firm, and the role is highly critical and not easy to hire for, possibly means they are interviewing other candidates as well.

Best is to wait up to a maximum of another 2 weeks and if you don't hear from them means most likely you didn't get the role.

 

[ahjunlah]

If you are looking for sales job then you must differentiate between 2 types.

Sales to companies or sales to individuals

If sales to companies then you can start off with PFC level but if sales to corporates then you can start off either in SME banking (most likely) or corporate banking (highly unlikely)

Candidates who start at PFC level will progress to priority banking and finally to private banking

Candidates who start from SME banking usually over 5 years or more will progress to corporate banking. Although possible, it is highly unlikely to start from corporate banking

I think you meant PFC for sales to individual right?

Any major differences between the 2 in terms of long term progression?

 

[titch-]

I have a question to ask,

Currently, I am taking my degree in non local uni in Finance as I am looking at finance as my career.I had been studying finance all along in my tertiary education with some work experience in customer service role but not in finance.

Recently, I had taken a look at some finance roles and it seems like many finance positions requires experience for fresh grads even bank tellers.

I am looking at jobs in Funds Management, Credit Control and Compliance Roles.

What is your take on this? I don't mind studying additional certifications such as CFA or CAMS.

 

[hotxbunn]

Hi,

im currently 25 this year. been working in IT field for 3 years, but suddenly realised abit lost in this field of work. started out as a technical person, boss ask me to go pre-sales/sales bao ka liao. so right now im abit confused about my career progression. basically im jack of all trades but master of none. even if i go interview i dont feel confident in my skillset

so i need advice on how to work on my future progression.

 

[Ask A Headhunter]

I think you meant PFC for sales to individual right?

Any major differences between the 2 in terms of long term progression?

Yes PFC for sales to individuals

Currently in the market, it seems like private banking is where there is longer term progression.

However do note that it is far harder to become a private banker than a corporate banker. (The road to become the private banker is longer and tougher)

 

[Ask A Headhunter]

I have a question to ask,

Currently, I am taking my degree in non local uni in Finance as I am looking at finance as my career.I had been studying finance all along in my tertiary education with some work experience in customer service role but not in finance.

Recently, I had taken a look at some finance roles and it seems like many finance positions requires experience for fresh grads even bank tellers.

I am looking at jobs in Funds Management, Credit Control and Compliance Roles.

What is your take on this? I don't mind studying additional certifications such as CFA or CAMS.

I take it you don't mean finance as in roles which are accounting related or semi related?

Compliance roles are always hiring even if you have zero experience, but there is a high chance that you will get a contract role.

Fund management is a very vague term, which area of fund management do you mean specifically? Do you mean fund accounting? transfer agency?

additional certifications like ACAMS are only really useful if you have prior work experience (cert without work experience is not much use)

As for CFA, not very useful unless you want to end up doing certain analysis roles

 

[Ask A Headhunter]

Hi,

im currently 25 this year. been working in IT field for 3 years, but suddenly realised abit lost in this field of work. started out as a technical person, boss ask me to go pre-sales/sales bao ka liao. so right now im abit confused about my career progression. basically im jack of all trades but master of none. even if i go interview i dont feel confident in my skillset

so i need advice on how to work on my future progression.

I take it you work in a SME?

If you are good as a technical person, then you should stay as a technical person

Most good companies have both a technical person and a presales person

 

[Ask A Headhunter]

Hi All,

I will be away for one week and won't be responding to any questions

Will respond to any questions when i come back.