I'm at my crossroads :o

[tutonic]

hello there forum.

okay, here's the thing.
i'm currently almost done with my NS life, ord-ing in Feb 2014..

I'm planning on pursuing higher education. Sadly, my grades cant make it to public local uni.. i failed 1 of my H2 (got a U )
My current options stand at:
Sim-Uol Econs & Finance
Sim-Uol Acc & Finance
Sim-Rmit Econs & Finance
Unisim Bsc Finance.

*i'm not willing to retake my A Levels. (personal reason).*

I've browsed through the interwebs over the past few weeks and most of the responses seemed dated. So i hope to get a sort of 'updated' information on the subject.
Which would be the best route for me to advance, from here on out?
I'm perfectly okay with either ending up in the accounting/auditing field or the banking/finance field.
I have equal interest in both.

Also, one thing that i came across while trekking through the interwebs.
SAA also offers the UOL degrees like SIM.
Is that a better choice of school? since like, its the education arm of the ISCA..

Once again, a summary of my questions.
1) Which of the abovementioned courses will be the best route of advancement?
2) SIM or SAA?
3) What kind of starting salary can i be expecting if i graduate with a 1 or 2:1? 2.5k?

Thanks to all those, who took their time to reply me.
Really appreciate your responses.

 

[Havok_ex]

I heard that the new rules that are coming out states that anyone with a degree, no matter what degree, can become a certified accountant. Just have to pass a few of the regulating body's papers. So the competition for accountancy jobs would be much more fierce in a few years time once you graduate.

I believe SIM also has Maths and Econs. I would honestly recommend that course instead. Math majors are pretty much in demand across many fields for their mathematical ability. Complemented with econs will allows you to be break into the fin/banking fields. And if things fail, you can still go into teaching. Math is taught across all schools at all levels. Whereas Fin/Acc are not. Math is just much more versatile. And when you are competing against local grads, that versatility will give you an edge. Finance is much more specific and you will not have much to fall back on if you are unable to get into the specific job/field.

That said, university level math is no joke. Very difficult. But your hard work will be paid off. To answer your final question about salary, the SIM grads I've met and known usually earn about 2.5k-2.9k. Dont know many of them though. But if you graduate with an FCH, think would be better if you do a masters in local uni after that because you would definitely qualify for it. Then you can command a much higher salary.

 

[simon_84]

if times are hard, fresh accounting grad can start off from 2.2k and i believed that finance grads are no better as there are plently of business grads around.

 

[tutonic]

@havoc. Ah, that's good to know.
The thing is, i really cant picture myself spending another 3 years studying uni level math, when i struggle to accept H2 level maths.
I mean, i know e&f and a&f courses both have math modules, but it sure as hell isnt as hardcore as doing math and econs where half of the modules are chim-onology math stuffs.
I'm actually leaning on the econs and finance course as i hope to end up in the banking/finance sector.
Just wondering, do you know any econs finance grads, specifically?
How are they doing, post graduation? is it easy finding a job in the banking sector?
I've heard stories of how even 2:1's are finding it hard to get a job. Not quite sure if it's true..


thanks for your response.

 

[tutonic]

if times are hard, fresh accounting grad can start off from 2.2k and i believed that finance grads are no better as there are plently of business grads around.

How are business grads affecting the job availability for finance grads? are they part of the same bunch?
is their uni level knowledge of no use?

 

[Havok_ex]

@havoc. Ah, that's good to know.
The thing is, i really cant picture myself spending another 3 years studying uni level math, when i struggle to accept H2 level maths.
I mean, i know e&f and a&f courses both have math modules, but it sure as hell isnt as hardcore as doing math and econs where half of the modules are chim-onology math stuffs.
I'm actually leaning on the econs and finance course as i hope to end up in the banking/finance sector.
Just wondering, do you know any econs finance grads, specifically?
How are they doing, post graduation? is it easy finding a job in the banking sector?
I've heard stories of how even 2:1's are finding it hard to get a job. Not quite sure if it's true..


thanks for your response.

Well, nothing worth getting in life is easy. Everybody knows that math is hard. But that is why those math grads are so valuable. Because they work so much harder than the rest and have skills and knowledge that no one has but is required at a lot of fields. If you want the easy path, there's nothing wrong with that. But it comes with more risks. The risk of not getting a job.

How are business grads affecting the job availability for finance grads? are they part of the same bunch?
is their uni level knowledge of no use?

Yes, more or less same bracket I would say. Just take a look at the tons of biz grads churned out of local uni, they can do both banking/finance and business related jobs. There are really so many of them. And then there are also their econs grads as well and most of them will go into the finance industry as well. If you decide to take the path of fin&econs, what makes you better than any of them? Its very difficult to prove that an employer should hire you instead of them. They come from a more prestigious education background and because of their longer studying period and larger amount of modules, they will also know more than you. All aiming for a very specific field/industry. Yes, it is hard to find a job. Even harder to find one that pays you well. Unless you have good connections. One of my friends, not one im personally close to, took close to 8 months to get a job after graduation. Second upper sim-uol, not sure which major. Even then the job only paid about 2.6k albeit it was in the banking field that he wanted to pursue, so good for him.

Im not trying to put down an institution or anything, but the job market isnt too bright okay. And the reality is that employers will always compare your degree to other applicants and most employers will favour other universities instead. All I am trying to say is that maths and econs would be safer, but will have to work harder. That is my stand. To each his own.

 

[tutonic]

Ahh. I get what you're trying to say. But is it really true that uni level math are needed in those fields?
I was under the impression that on-job-training will bring you up to speed and that the 3-4years of uni education is only to land you in the inverviewing room.

I gave math and econs a shot. i looked through the modules. I died a little inside :/

 

[simon_84]

How are business grads affecting the job availability for finance grads? are they part of the same bunch?
is their uni level knowledge of no use?

as long as they are willing to lowball themselves, they already have an advantage over you in terms of willing to start off from a lower pay.

my friend is one example of those starting off from less than 1.5k (bank officer) then climbing up to 3k (SME loan) in UOB.
and he doesn't have a finance degree yet, considering that he is on a engineering dip.

the finance industry has lower down its benchmark for starting salary since the sub prime crisis in 07~08 or should i say their HR is looking to get the most out of these fresh grads.

 

[Number_Theory123]

Find out what kind of jobs does SIM grads end up doing.(SIM's website has an employment survey of their graduates)
*You wanted to enter the finance field. Within the finance field, what positions does SIM grads end up with?

Also, what is like to be studying in SIM?

This is 2 most important questions that u have to find out. Once u have the answers to those 2 questions, I'm sure u can make a much more informed decision.

Good luck to you.

 

[veefounder]

hello there forum.

okay, here's the thing.
i'm currently almost done with my NS life, ord-ing in Feb 2014..

I'm planning on pursuing higher education. Sadly, my grades cant make it to public local uni.. i failed 1 of my H2 (got a U )
My current options stand at:
Sim-Uol Econs & Finance
Sim-Uol Acc & Finance
Sim-Rmit Econs & Finance
Unisim Bsc Finance.

*i'm not willing to retake my A Levels. (personal reason).*

I've browsed through the interwebs over the past few weeks and most of the responses seemed dated. So i hope to get a sort of 'updated' information on the subject.
Which would be the best route for me to advance, from here on out?
I'm perfectly okay with either ending up in the accounting/auditing field or the banking/finance field.
I have equal interest in both.

Also, one thing that i came across while trekking through the interwebs.
SAA also offers the UOL degrees like SIM.
Is that a better choice of school? since like, its the education arm of the ISCA..

Once again, a summary of my questions.
1) Which of the abovementioned courses will be the best route of advancement?
2) SIM or SAA?
3) What kind of starting salary can i be expecting if i graduate with a 1 or 2:1? 2.5k?

Thanks to all those, who took their time to reply me.
Really appreciate your responses.

i feel you bro.. i also screwed up my alevels and didnt make it to local uni..i can only comment on Sim-Uol Acc & Finance, since tats the course i am studying..so far i am loving it!

i recommend to think about your interest..
dont think that if you study accounting you have to be accountant..totally not true..most people who study accounting even at masters level mainly do it to get soft skills and accounting knowledge which will be really helpful in management positions..

sim is quite good in a sense that i has good networking with LSE, if you planning to do master at lse/ or even uk - you can get alot of support from them..

starting salary for Associates in Big4 is 2.5-2.9k for local uni people
if you are a First class from UOL, u would be getting around 2.4-2.6?

 

[tutonic]

Find out what kind of jobs does SIM grads end up doing.(SIM's website has an employment survey of their graduates)
*You wanted to enter the finance field. Within the finance field, what positions does SIM grads end up with?

Also, what is like to be studying in SIM?

This is 2 most important questions that u have to find out. Once u have the answers to those 2 questions, I'm sure u can make a much more informed decision.

Good luck to you.

where is this employment survey on their site? i tried searching for it manually and also via the search box. no results :O

i more or less know how the lectures/tuts are like in SIM from my ex-jc mates.

 

[wav35_]

pls do internships and related part time work in uni. when i went for interview in a big well-known organisation, they did not even ask about my uni results but the whole interview was about my internship and part time work (i perform well in pt work and got a good testimonial). and of cos about my abilities and what i can contribute. gt the offer even before i submitted certs and transcripts. but of cos do strive to do as well academically as possible.

 

[tutonic]

i feel you bro.. i also screwed up my alevels and didnt make it to local uni..i can only comment on Sim-Uol Acc & Finance, since tats the course i am studying..so far i am loving it!

i recommend to think about your interest..
dont think that if you study accounting you have to be accountant..totally not true..most people who study accounting even at masters level mainly do it to get soft skills and accounting knowledge which will be really helpful in management positions..

sim is quite good in a sense that i has good networking with LSE, if you planning to do master at lse/ or even uk - you can get alot of support from them..

starting salary for Associates in Big4 is 2.5-2.9k for local uni people
if you are a First class from UOL, u would be getting around 2.4-2.6?

yeah i get that. for me, i already have my end game, in mind. i hope to end up in one of the big private banks, like jpmorgan, ubs, in their equities or risk analysis dept.

 

[tutonic]

pls do internships and related part time work in uni. when i went for interview in a big well-known organisation, they did not even ask about my uni results but the whole interview was about my internship and part time work (i perform well in pt work and got a good testimonial). and of cos about my abilities and what i can contribute. gt the offer even before i submitted certs and transcripts. but of cos do strive to do as well academically as possible.

im actually, looking through some internship sites of the companies. They state i needed a proven academic track record. The thing is, my results sucked in JC. how do i get into the internship in the first place? via my 1st sem UNI grades?

 

[wav35_]

im actually, looking through some internship sites of the companies. They state i needed a proven academic track record. The thing is, my results sucked in JC. how do i get into the internship in the first place? via my 1st sem UNI grades?

no you normally do internship in your second or third year. best is go do related part time work, you learn more and if you find out the related fields are not what you want, you can still make decisions albeit with some time sacrifices. a friend gt converted from temp staff status to full time staff nearing graduation, real lucky cos it is a prestigious coy in the field. same for internship, if you perform well and the coy like you, they might offer you full time employment.

 

[tutonic]

no you normally do internship in your second or third year. best is go do related part time work, you learn more and if you find out the related fields are not what you want, you can still make decisions albeit with some time sacrifices. a friend gt converted from temp staff status to full time staff nearing graduation, real lucky cos it is a prestigious coy in the field. same for internship, if you perform well and the coy like you, they might offer you full time employment.

Ah. part time work? the thing is, i intend to end up in the private banks doing equities or risk analysis. How are any part time work related to that? any suggestions? i'm a little noob, in this area.

 

[FrostWurm]

the thing is, i intend to end up in the private banks doing equities or risk analysis.

There are tons of fresh grads each year queuing up for these jobs. I think an ivy-league degree may help.

 

[tutonic]

There are tons of fresh grads each year queuing up for these jobs. I think an ivy-league degree may help.

That doesn't help, in the least bit.
It's my end game. Not starting location. Just saying.

 

[Number_Theory123]

where is this employment survey on their site? i tried searching for it manually and also via the search box. no results :O

i more or less know how the lectures/tuts are like in SIM from my ex-jc mates.

I can tell u the answer haha.

Sales type role selling insurance/credit cards. Commision base with a basic pay of ab 2.5k. If u dont hit the sales quota u will be out.

If you like doing a job which is commission base then go ahead.

For non-sales jobs, that would be the back-end function of banks. Something like administrative jobs. Also ab 2.5k.

Again if u like this job, go ahead.

This is generally speaking and pertaining to finance jobs.

Yes u may have the out-liners that someway or somehow enter the prestigious management associate programmes of top banks.

But u know, these are the out-liners and they normally do have outstanding CCA records to boast.

Not those that join a finance society for fun, but in fact, they are the president of a finance society and etc along with their 2:1 or 1:1.

Those jobs at leading banks that u are speaking of, do u even know ur competitors that are similarly vying for those jobs as well?

 

[bugmenot45]

Sim-Uol Econs & Finance
Sim-Uol Acc & Finance
Sim-Rmit Econs & Finance
Unisim Bsc Finance.

*i'm not willing to retake my A Levels. (personal reason).*

what are you personal reasons for not wanting to re-take a-levels? truth be told, its tough for distance learning/unisim to get into private banking.

that said, if you really want to choose among the above choices, I won't recommend RMIT or UNISIM.

How are business grads affecting the job availability for finance grads? are they part of the same bunch?

eh, honestly, most employers don't see a difference between finance and business grads at all. that's why I usually tell people not to worry to much about what they major in. no one is gonna give a shiit.

Ah. part time work? the thing is, i intend to end up in the private banks doing equities or risk analysis. How are any part time work related to that? any suggestions? i'm a little noob, in this area.

helps if you have personal connections to get you in.
otherwise, any sort of finance-related work is better than no work experience at all. don't have to specifically focus on equities/risk analysis.