Ask A Headhunter!

[ahjunlah]

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)

Thanks for your input!

 

[asdCLOT]

Dear HH,

I am about to go to a bulge bracket bank for final interview tomorrow. I am currently paid 4K and these bulge bracket does not pay bonus to below AVP level which is my potential position.

My experiences as follow:
-Bachelor's in finance 2nd upper class honors
-Sovereign fund -2 years experience
-Hedge fund (current) -7 months experience

Reason for looking out is company is closing SG office.
Current package is 4K + performance bonus

Facing no bonus at bulge bracket. How much should i ask for? at least advise me a range?

Please if you see this respond to me asap! cause tmr is my interview!! Thanks Lots!

 

[tough_yan]

Hi HH,

I am currently in early 30s, and has been working in Music field (Orchestra and secondary schools) for nearly 6 years, but suddenly getting lost in this field of work after my Master graduation in UK. There are limited working opportunities in orchestra, and MOE and some intl schools rejected my application as I attained my teaching certificate in other Asian countries. I wondered I should change my career or not, but then I don't know which field I should go as playing music/classroom teaching is my only expertise. Of course, I can teach piano in some private schools, but that is not what I desire.

Please give me advices on how to develop my future career. Tks.

 

[Ask A Headhunter]

Dear HH,

I am about to go to a bulge bracket bank for final interview tomorrow. I am currently paid 4K and these bulge bracket does not pay bonus to below AVP level which is my potential position.

My experiences as follow:
-Bachelor's in finance 2nd upper class honors
-Sovereign fund -2 years experience
-Hedge fund (current) -7 months experience

Reason for looking out is company is closing SG office.
Current package is 4K + performance bonus

Facing no bonus at bulge bracket. How much should i ask for? at least advise me a range?

Please if you see this respond to me asap! cause tmr is my interview!! Thanks Lots!

Apologies for late reply as i am currently overseas

It depends on how much the company buys your desperation since it closed down. They might in their minds think that you are desperate for the job and give you same salary as currently and test to see if you accept

Do note that tons of banks work on strict salary guidelines. I recruit for one of the major European banks for example and they will never give any candidate more than 20% pay increase no matter how good he is and they will rather forgo and let him go

For most companies nowadays (but not all) the max is probably 20%.

Most people who go into hedge funds go in with eyes opened since when times are good the bonus is ridiculous, unfortunately most banks dont work this way. Its best you moderate your own salary expectations because banks are known to give good increments to people who are able to stay and prove they are capable (more than 3 years) because your job history is less than stable

Sent from Sony D6653 using GAGT

 

[grapefruit01]

Dear HH:


Here's my story:

• Got into a diploma position job as a data researcher in financial government sector last month, Dec 2015
• But wish to further studies in full-time UniSIM degree
• Understand I am able to take PT degree, but I personally prefer FT instead
• Wish to work in financial sector in the future (hopefully related to investment analysis/investment banking)
• UniSIM intakes every July

Question:
How long should I work for? Will there be a difference (based on the points I have mentioned above) if I leave after 0.5yrs, 1.5yrs, 2.5yrs, 2.5yrs+?

Heard that minimum 2years is the best guideline to follow to show future employers I am not a job hopper, true? But by then when I graduate from uni will be reaching 30.

 

[melaugh]

Hi HH,

Currently gonna study part time Business Analytic degree course. Currently being offered a job as a system engineer as i study IT in POLY.. Will this working experience aid me after i graduate from my degree course to find a job that is relevant to the Business Analytic course??

 

[Xlandergugo]

Hi Hh,

Is having CFA advantageous/useful for a fresh graduate in thinking of a career path in risk management (credit risk/operational risk)? Or are there other specialized certs that can help future progression?

Also, what can this year's graduates expect in banking and finance industry given the current gloomy outlook? Which departments in b&f will still be more open (relative) to hiring fresh graduates?

Please advise, thank you!

 

[Ask A Headhunter]

Hi HH,

Currently gonna study part time Business Analytic degree course. Currently being offered a job as a system engineer as i study IT in POLY.. Will this working experience aid me after i graduate from my degree course to find a job that is relevant to the Business Analytic course??

From my limited understanding of business analytics, it is not exactly very technical (i might be wrong)

Hi Hh,

Is having CFA advantageous/useful for a fresh graduate in thinking of a career path in risk management (credit risk/operational risk)? Or are there other specialized certs that can help future progression?

Also, what can this year's graduates expect in banking and finance industry given the current gloomy outlook? Which departments in b&f will still be more open (relative) to hiring fresh graduates?

Please advise, thank you!

Not exactly sure on the usefullness but so far in my recruitment career, i have not seen any person with CFA in credit or operational risk. The cert which most people in this area usually go for is the FRM cert (Financial Risk Manager)

The current hottest areas for fresh graduates all lie around governance, specifically AML compliance (and all aspects around it) and Internal Audit

But if you are looking to move into regulatory compliance, then no such luck as banks usually hire only experienced staff

Dear HH:


Here's my story:

• Got into a diploma position job as a data researcher in financial government sector last month, Dec 2015
• But wish to further studies in full-time UniSIM degree
• Understand I am able to take PT degree, but I personally prefer FT instead
• Wish to work in financial sector in the future (hopefully related to investment analysis/investment banking)
• UniSIM intakes every July

Question:
How long should I work for? Will there be a difference (based on the points I have mentioned above) if I leave after 0.5yrs, 1.5yrs, 2.5yrs, 2.5yrs+?

Heard that minimum 2years is the best guideline to follow to show future employers I am not a job hopper, true? But by then when I graduate from uni will be reaching 30.

Being a job hopper is not just about 2 years or 3 years,etc.

It is about having a reason for leaving each and every one (for example, if the company close down in Singapore, nobody will say you are a job hopper even if you only been there for 1 year)

 

[Ask A Headhunter]

Hi HH,

I am currently in early 30s, and has been working in Music field (Orchestra and secondary schools) for nearly 6 years, but suddenly getting lost in this field of work after my Master graduation in UK. There are limited working opportunities in orchestra, and MOE and some intl schools rejected my application as I attained my teaching certificate in other Asian countries. I wondered I should change my career or not, but then I don't know which field I should go as playing music/classroom teaching is my only expertise. Of course, I can teach piano in some private schools, but that is not what I desire.

Please give me advices on how to develop my future career. Tks.

TBH i am not an expert in your field of work, but have you considered applying for some government sectors? or is it possible to get any conversion course to make your cert from the other asian country applicable to Singapore market?

 

[nudgedoink]

Hi headhunter. I am about to join the industry as a recruitment consultant in one of the bigger companies, but I am concerned with the CEI exam.

I am gainfully employed now and I will have to resign from my job to take on the new role. May I ask, what if I fail the exam? I believe my potential company will give 2 tries. After that, if I were to fail, what will the company do? Will I be asked to leave the role?

 

[tasslehofy]

Quit without a job

How are experienced unemployed people viewed?

i.e. quit without a job in the last 6 months or quit to study MBA, masters in the last 1 year.

Any difference from people who are currently holding onto jobs?

 

[rotiprata_]

Hi HH,

My notice period is 3 months in finance reporting line (non-management level).

1) Is it difficult to find a new job since it is quite long? I have gathered that 1 month is the norm at my level.

2) Is it advisable to tender first and look for a new job after 1 month has passed (2 months notice remaining) to increase the chances?

3) How's the job market looking currently? A lot of negative news about the economy and job market for 2016 so far.

Thanks.

 

[darkhonour]

Dear HH,

I need some sound career advice on how I should plan my next step in my career. I am currently working overseas but due to restructuring, I may leave around spring and looking at relocation back to Singapore.

I have 2 years of operative procurement experience, and coming-to-2 years of strategic procurement experience with the same IT MNC. I left the IT MNC and re-joined it after a period of 6 months, in which I spent 5 weeks at a JP MNC as a sales coordinator. ***I left my IT MNC initially as I wanted to try a different line of work to see how I fare.

I am currently earning my salary which is equivalent to 4K, but I am expecting only around 3.5k for my next job (in procurement). Probably accept 3.2K if I change line of work.

Some interviewers said my experience is not sufficient and I seem like a job hopper because I don't stay for more than 2 years. The job market seems to be really bleak for my case. Or is my expected salary too high? My last drawn SG salary was around 3K

 

[grapefruit01]

Being a job hopper is not just about 2 years or 3 years,etc.

It is about having a reason for leaving each and every one (for example, if the company close down in Singapore, nobody will say you are a job hopper even if you only been there for 1 year)

Won't there at least be a significant difference when a person has 1 year experience as compared to someone who only has 0.5years experience (assuming both reason for leaving is studies)

The employer will definitely hire someone who has more experience right (assuming work is relevant)

 

[ruixiang92]

Hi HH,

Would like to ask about these certifications - CFA, CAIA, FRM.

Would you give us an insights about the typical roles/JDs that require each of them?

Another question is regarding the hiring currently. How's the hiring like currently and as well as the 1 year outlook for the B&F industry? I noticed that banks such as HSBC, barclays have frozen their hiring. Do you see this trend happening on a massive scale?

 

[Ask A Headhunter]

How are experienced unemployed people viewed?

i.e. quit without a job in the last 6 months or quit to study MBA, masters in the last 1 year.

Any difference from people who are currently holding onto jobs?

Depends on prior job history on whether you are a job hopper or not prior to quitting without a job for 6 months or 1 year for whatever reason that is valid

Hi HH,

My notice period is 3 months in finance reporting line (non-management level).

1) Is it difficult to find a new job since it is quite long? I have gathered that 1 month is the norm at my level.

2) Is it advisable to tender first and look for a new job after 1 month has passed (2 months notice remaining) to increase the chances?

3) How's the job market looking currently? A lot of negative news about the economy and job market for 2016 so far.

Thanks.

1) Yes unless you are at a certain seniority level and not fairly entry level, norm is 1 to 2 months
2) Not encouraged, but best is once you secured a new job or the other company has hinted that he will offer you, then talk to your current employer on potentially leaving earlier
3) Fairly quiet as a number of people are waiting for their bonuses to be paid out (usually in March or April)

Dear HH,

I need some sound career advice on how I should plan my next step in my career. I am currently working overseas but due to restructuring, I may leave around spring and looking at relocation back to Singapore.

I have 2 years of operative procurement experience, and coming-to-2 years of strategic procurement experience with the same IT MNC. I left the IT MNC and re-joined it after a period of 6 months, in which I spent 5 weeks at a JP MNC as a sales coordinator. ***I left my IT MNC initially as I wanted to try a different line of work to see how I fare.

I am currently earning my salary which is equivalent to 4K, but I am expecting only around 3.5k for my next job (in procurement). Probably accept 3.2K if I change line of work.

Some interviewers said my experience is not sufficient and I seem like a job hopper because I don't stay for more than 2 years. The job market seems to be really bleak for my case. Or is my expected salary too high? My last drawn SG salary was around 3K

If you have 2 years of experience plus another 2 years (total 4 years in same company), by definition that is not job hopping but job rotation

But if in between you have another stint, just be honest and said that the stint did not work out for whatever reasons. (must be a valid reason)

I never encourage anyone to take a pay cut minimum with your next job, unless you are desperate.

Won't there at least be a significant difference when a person has 1 year experience as compared to someone who only has 0.5years experience (assuming both reason for leaving is studies)

The employer will definitely hire someone who has more experience right (assuming work is relevant)

Anything below 1.5 years of experience is insignificant, unless the 2 or 3 years are all contract roles with different companies

Hi HH,

Would like to ask about these certifications - CFA, CAIA, FRM.

Would you give us an insights about the typical roles/JDs that require each of them?

Another question is regarding the hiring currently. How's the hiring like currently and as well as the 1 year outlook for the B&F industry? I noticed that banks such as HSBC, barclays have frozen their hiring. Do you see this trend happening on a massive scale?

CFA/CAIA - More for investment analysis and research
FRM - useful if you are looking to move into credit or market risk, not very useful if you intend to do operational risk

currently hiring is good, depending on what areas you are doing currently.

core critical roles like certain areas of risk management and audit and compliance are still hiring lots, but other areas are also hiring, but only on replacement basis (when someone else leaves the company)

 

[Ask A Headhunter]

Hi Hh,

Is having CFA advantageous/useful for a fresh graduate in thinking of a career path in risk management (credit risk/operational risk)? Or are there other specialized certs that can help future progression?

Also, what can this year's graduates expect in banking and finance industry given the current gloomy outlook? Which departments in b&f will still be more open (relative) to hiring fresh graduates?

Please advise, thank you!

CFA will not be extremely useful if you intend to do risk management, best is to go for CRM cert

those that are more open to hire fresh grads are in front line sales, or operations roles, or entry level compliance roles (but usually these are contract roles)

 

[always89]

Hi TS. I am keen in compliance roles especially AML in particular. However usually these require prior experience. What kind of entry level work can I take up in order to have an opportunity to progress into compliance?

 

[grapefruit01]

Anything below 1.5 years of experience is insignificant, unless the 2 or 3 years are all contract roles with different companies

So would you say that 1.5 years is the ideal duration I should stay in my current job before I leave for my studies?

 

[Ask A Headhunter]

Hi TS. I am keen in compliance roles especially AML in particular. However usually these require prior experience. What kind of entry level work can I take up in order to have an opportunity to progress into compliance?

You can always try for roles which do KYC (which is usually contract roles for entry level) or to do transaction monitoring (which companies are usually quite ok to hire people with no prior experience and train them especially if it is a junior role)

So would you say that 1.5 years is the ideal duration I should stay in my current job before I leave for my studies?

In an ideal situation yes, but if your course starts at at certain time and you cannot hit the 1.5 years then don't bother with the timeline (it's not a hard and fast rule)