Confused!!

[arctician]

good luck..just a comment..stupid decision

 

[Mecisteus]

while you are still young and unmarried, my advices are

1) go where the money is

2) dont be afraid to try something new

3) earn, save, insure and invest

 

[iCuteCube]

while you are still young and unmarried, my advices are

1) go where the money is

2) dont be afraid to try something new

3) earn, save, insure and invest

That's what I did

Well, Banker have basic pay. So even how worse, there's this safety net. If you are young and want to do sales in finance industry, personal preference I prefer bank because I can "hop" for different job role.

For now I am doing retail banking, after 1 or 2 years, I can switch to T&M (Treasury and Markets). Bank like "clean" people, so if you are working in a bank, high chance you are pretty clean as the regulations and background checks can be quite stringent for local bank.

Have a backup plan, even if finance industry don't suit you (or maybe me too), can always hop out to something you like after 1-2 years and you are still below 30 years old without major commitments.

After working my second job, I strongly believe in the person's capability and enthusiasm in order to excel in the jobs. Most of the job you can only have general knowledge, the processes of the job and politics varies across different job role.

 

[wahkao3]

I can switch to T&M (Treasury and Markets).

zhun bo? can hop like that meh? will they accept u?

 

[archcherub]

while you are still young and unmarried, my advices are

1) go where the money is

2) dont be afraid to try something new

3) earn, save, insure and invest

Agree generally...
But being an agent has a lot more disadvantages than good.
I mean "don't be afraid of trying something new"... How about robbing a bank?
I suggest rob an Apple Store too.
Its pretty new. LoL.

Seriously TS, if u r still reading this... pm me... I do hope u can find a better career.

Don't waste ur youth.

 

[Majestic12]

Wahkao always like that.. U dunno when he is serious and when he is just trolling.
I had to read a few times to see if he is being sarcastic.
15k in banking. Sure....

It's definitely possible to hit $15k. Have hit that this year and am below 30.

Granted it can be inconsistent depending on how the market at large performs. My point is that it is possible.

 

[Majestic12]

Good point. I learnt more about investment from shiny things, dividend warrior, wahkao, knight rider, apple beats, limster, henrylbh, gummybear, alexchia etc than I did in my whole career.

Good luck TS.

I went into the bank knowing full well that it is all about selling. Hence I took the initiative to read up as much as I can while also putting it to practice. I'm not sure which level of RM you were but at my level, clients are savvy enough to tell if you're hoodwinking them or not.

 

[Majestic12]

Basic pay doesn't mean that you cannot be fired or asked to go.

Basic pay for sales staff is really purely for expenses. The incentives / commission is where the savings and investments grow from.

I suspect I know which bank you are from purely from your use of the term T&M. That's because I am from there too.

That's what I did

Well, Banker have basic pay. So even how worse, there's this safety net. If you are young and want to do sales in finance industry, personal preference I prefer bank because I can "hop" for different job role.

For now I am doing retail banking, after 1 or 2 years, I can switch to T&M (Treasury and Markets). Bank like "clean" people, so if you are working in a bank, high chance you are pretty clean as the regulations and background checks can be quite stringent for local bank.

Have a backup plan, even if finance industry don't suit you (or maybe me too), can always hop out to something you like after 1-2 years and you are still below 30 years old without major commitments.

After working my second job, I strongly believe in the person's capability and enthusiasm in order to excel in the jobs. Most of the job you can only have general knowledge, the processes of the job and politics varies across different job role.

 

[zirhk3355]

Really thanks and appreciated for everyone's advice here. I know it's a tough time decision btw the "banker" and an agent. Honestly, I don't believe in insurance until I'm kinda being open nowadays and you know, being 25 now and I felt like never been achieved something significant in my life or career life, thus decided to take a leap of faith and just venture into agent. I wish to hit my goals in life and help people to the best I can. I'll just whack for the first year hard and see how it goes haha.

Ya, I'm quite active here so I will always check back. Probably even attend events or something organize by you guys. )

Ermmm!! I think you are not getting it - those who are opposing are saying don't go for EITHER. Try to get into a "proper" banking job like corporate banking, or do something you are experienced in, like industrial sales, to get more comm/income.

That said, if you do understand what people are telling you here but still going for it, I can fully understand too. The lure of money is too great - I did have people who advise me against it when I was your age but I went for it anyway. However the only blessing we can have for you is to keep your eyes open and have a bigger heart, don't be distracted by all the branded stuff and material possessions that your colleagues have, or worse join in the "material race". Save up, invest and focus on learning instead of chasing higher comm brackets.

 

[zirhk3355]

It's definitely possible to hit $15k. Have hit that this year and am below 30.

Granted it can be inconsistent depending on how the market at large performs. My point is that it is possible.

Yes but look at the ratio of your savings/investments to what you are spending for leisure, watches, car, etc? Do count how many of your clothes are actually "non-branded" like Giordano, Uniqlo, etc. These are all non-accretive possessions that any savvy investors won't indulge in casually.

Been there, done that. Totally regret it now, but well, its an experience. Of course I am generalizing, if you really one of those rare few RMs who can resist the urge and peer pressure to chase material symbols of success, good for you!

 

[Solution9]

Ermmm!! I think you are not getting it - those who are opposing are saying don't go for EITHER. Try to get into a "proper" banking job like corporate banking, or do something you are experienced in, like industrial sales, to get more comm/income.

That said, if you do understand what people are telling you here but still going for it, I can fully understand too. The lure of money is too great - I did have people who advise me against it when I was your age but I went for it anyway. However the only blessing we can have for you is to keep your eyes open and have a bigger heart, don't be distracted by all the branded stuff and material possessions that your colleagues have, or worse join in the "material race". Save up, invest and focus on learning instead of chasing higher comm brackets.

haha I know. I admit Monetary is one deciding factor. My previous job is in the marine sector, salaried paid, mon to sun. I don't mind mon to sun, but what I'm getting previously was (**** you know). I want to go out, do something with a sense of self achievement, ownership, meet tons of people and see how far I can reach.

I cannot guarantee myself that I will be in the insurance/finance industry for long, but that's what I had been considering these whole time. I don't know, maybe after a few years I would decide or by change go into corporate/SME banking. Afterall, I have never done it before, and I wanna go for it, thou shall not fail!

 

[zirhk3355]

I want to go out, do something with a sense of self achievement, ownership, meet tons of people and see how far I can reach.

Nope, seemed like money is the ONLY deciding factor here.

Well good luck then, hopefully you already got what we said; do look back here once in a while whether you are "making it" or not, don't let all the money cloud your head. Always have the following questions in your head:
1. Other than money and material possessions, what else do I have?
2. If the govt changes regulations today and I am out of job, what work experience do I have and where can I go?

 

[Majestic12]

haha I know. I admit Monetary is one deciding factor. My previous job is in the marine sector, salaried paid, mon to sun. I don't mind mon to sun, but what I'm getting previously was (**** you know). I want to go out, do something with a sense of self achievement, ownership, meet tons of people and see how far I can reach.

I cannot guarantee myself that I will be in the insurance/finance industry for long, but that's what I had been considering these whole time. I don't know, maybe after a few years I would decide or by change go into corporate/SME banking. Afterall, I have never done it before, and I wanna go for it, thou shall not fail!

I saw so many like you who have since left. I was one of them too. The industry that I was in previously paid me a miserable $2,000 a month. After I got my degree three months into the job, I spoke to my director and asked for an increment. He said it was impossible at the moment. I left three months later.

Out of the original 20+ trainees in my batch, only five including myself are still in the bank.

Unless you are really interested in finance, and by that I mean spending countless hours reading both books and other media without getting bored of the topic and its permutations and can talk about it without coming across as a hard sell, I find it hard to envision how you will have the endurance for it when the going gets tough. Trust me that it will.

 

[Majestic12]

Yes but look at the ratio of your savings/investments to what you are spending for leisure, watches, car, etc? Do count how many of your clothes are actually "non-branded" like Giordano, Uniqlo, etc. These are all non-accretive possessions that any savvy investors won't indulge in casually.

Been there, done that. Totally regret it now, but well, its an experience. Of course I am generalizing, if you really one of those rare few RMs who can resist the urge and peer pressure to chase material symbols of success, good for you!

Can't speak for other bankers but I save / invest 67% of my total income. Am aiming to increase the ratio next year.

I see too many of my peers spending money on branded stuff - but nothing wrong with that because it's their money to spend. I don't drive, my most expensive watch costed $1,300 and I don't buy luxury brands most of the time. I do tailor my clothes because of my build but even then, the value is great since a $150 shirt can last me for over three years with proper care. I do have a few 'toys' lying around such as Oakleys, a Steam account with over 50 games, and a shelf full of books. None of them individually costed over $200.

I have a girlfriend too despite not having a car nor a single Rolex, Panerai, Audemars Piaget (really hot these days with bankers) or Hublot. I have looked at them and held them in person - yes they look pretty, but are they worth the price tag? Does the value match the price? I haven't been able to overcome that. Somewhat similar to local property. In any case, the myth that you need a car to have a nice woman is banished.

Too many bankers think that what you wear and own is extremely important to the extent of compensating for what's between your ears and within your chest. I disagree.

 

[zirhk3355]

Can't speak for other bankers but I save / invest 67% of my total income. Am aiming to increase the ratio next year.

I see too many of my peers spending money on branded stuff - but nothing wrong with that because it's their money to spend. I don't drive, my most expensive watch costed $1,300 and I don't buy luxury brands most of the time. I do tailor my clothes because of my build but even then, the value is great since a $150 shirt can last me for over three years with proper care. I do have a few 'toys' lying around such as Oakleys, a Steam account with over 50 games, and a shelf full of books. None of them individually costed over $200.

I have a girlfriend too despite not having a car nor a single Rolex, Panerai, Audemars Piaget (really hot these days with bankers) or Hublot. I have looked at them and held them in person - yes they look pretty, but are they worth the price tag? Does the value match the price? I haven't been able to overcome that. Somewhat similar to local property. In any case, the myth that you need a car to have a nice woman is banished.

Too many bankers think that what you wear and own is extremely important to the extent of compensating for what's between your ears and within your chest. I disagree.

Good on you! But as you agree, you are a rare species indeed.

 

[sAVaGEmP5]

Hi guys, I have read a quite a few threads and actually am needing myself so would like some advise from professionals. I am deciding to make a major career switch from engineering to financial industry(25 this year). Now I have 2 options at hand. I wanna go into the frontline (sales) because at least I believe that how hard you work (effort) determines how far the rewards can be determined. As compared to my previous job as a engineer getting a fixed pay monthly working non stop.

if u really believe that how hard you work (effort) determines how far the rewards can be determined, then let me ask u:

1. Why aren't u moving up the corporate ladder in ur current line and being satisfied in ur current job? Shldn't u be shaping ur scop and telling what ur bosses shld do, and not the other way round. Obviously u not working hard at all ?

2. U really think sales is a "If i work hard, i succeed" industry ? Naive Naive 25... Since u have a few yrs to burn, go ahead and try then. By the time u realize it not too late, maybe 30+ also.

 

[wahkao3]

2. U really think sales is a "If i work hard, i succeed" industry ?

that's what my bosses and HR ppl say. they are lying through their teeth?

liar liar, pants on fire

 

[zirhk3355]

Hates it when sales leaders tell me "the sky is the limit". This is never true.

You are always limited by the product offerings, competition, client's trust in you, and most importantly your own willingness to work hard.

Its always an irony for those who says "if I work hard, I succeed", but yet they chose to go into a no-pressure job where they can have free time to do whatever they want.

What do you REALLY want; work hard or to be carefree???

 

[arctician]

1. don believe in e bs from ur line manager whos trying to recruit u..they will promise e sun and moon to get more downlines for overriding commission

2. pardon me but u sound like a mediocre performer at its best and is looking at a quick exit and fast cash

3. Where u start is where u end, pls don be idealistic and assume you can switch into corporate using 2-3 years as test phase, ur transferable skill set and work credential is tantamount to none when u r in financial advisory

4. be prepared to lose ur pride, dignity and social circle as u beg for sales..frens will avoid u like ebola

5. don understand why u cant set ur foot on e ground and work ur way up esp. if u believe in ur capabilities, i grad from local uni at 25, started in a statboard, join a korean mnc, a tier 1 consulting firm and now a US tech company, hit >150k PA when i am 32 and i save 95% of my salary. E point is 脚踏实地 can let u scale e most treacherous mountains..好高务远 will cause u to plunge into deepest abyss

be prepared to do lots of cold calls and sales begging..and camping at mrt irritating ppl with all ur nonsensical surveys

 

[wahkao3]

hit >150k PA when i am 32 and i save 95% of my salary. E point is 脚踏实地 can let u scale e most treacherous mountains..好高务远 will cause u to plunge into deepest abyss

JIN SATKI!!!!!!!!!!!!!!!!!!!!!!!

be prepared to do lots of cold calls and sales begging..and camping at mrt irritating ppl with all ur nonsensical surveys

yep must throw your pride aside. i suggest u do engineering sales. Less begging. more stable


regardless what career you choose, learn up about investment so that you can retire early with a peace of mind. otherwise u never get out of rat race