Career advice needed

wallie SG · 2007-02-01T12:10:26+00:00

congrats!! well, perhaps u should think about why u want to leave ur old job, what u dislike about it, will the situation improve in your new job, and wheth...

wallie SG

I am currently pursuing two banks for financial advisers jobs. OCBC and UOB... I think I have a good chance at getting the jobs, already been offered 2nd interviews.

Can you guys provide advice which is better in:

1. Market capitalisation
2. Product range
3. Career prospects

Monday having interview and most likely will get offered then...
Thanks!

reve82guy SG

From what I hear from my friends in banking, OCBC is better bank to work in than UOB – in terms of staff welfare and career prospects… I don’t know exact details but that seems to be the general notion. Pretty sure UOB has a larger market capitalisation though.

Devil1976 SG

Not sure how true this is, and whether it's by comparison... But I heard it's real stressful working under UOB... Rolling Eyes

nanren4ever SG

I personally think that both jobs will be a stepping stone to u joining big banks like DBS, HSBC etc in the near future, so really, there's isn't much to choose from them. But if u just want to compare between the two banks, then I think UOB somehow is better than OCBC. Maybe u go their websites and see bah.

Tissot1853 SG

In terms of market capitalization, size and product range UOB is better, but I have frens who used to be in OUB went to UOB n hate it there.. bad management, stressful.. banking sector is booming in sgp, no matter where u choose u will definetly get betta career options in yur later part of your career life.

fymk SG

DBS ....big bank? HAHHAHHAHAHHA

HSBC , Deustche bank , Citigroup (Citibank) , Bank of China etc ... are the big banks.

DBS....HAHAHAHHAHAHAHAHHA

Sorry. It was just plain amusing Smile .

BenBenDeZhu SG

Originally posted by fymk:

DBS ....big bank? HAHHAHHAHAHHA

HSBC , Deustchbank , Citigroup (Citibank) , Bank of China [b] are the big banks.

DBS....HAHAHAHHAHAHAHAHHA

Sorry. It was just plain amusing Smile . [/b]

i agree Very Happy

fymk SG

Early career - best to go to banks such as HSBC or Citigroup - they are international - easy to diversify your career range from then onwards. HSBC is quite a strong bank to work for.

But give it a go for OCBC and UOB for experience.

I like OCBC myself Smile as a customer. My parents love OCBC ...they been with them for more than 2 decades. Even my very first childhood savings account was started in OCBC.

countdracula SG

financial advisor…..means selling insurance thing right? any basic pay? these days, a dime a dozen…you go to any bank and you see a handful of fresh uni grads sitting around ready to pounce on the next unsuspecting customer….degree is so common these days…..in the words of philip yeo, suitable for only washing test tubes…..

wallie SG

Haha, that'd have been a preferred choice, but unfortunately I'm not from banking or business study, so that may have been difficult.

There is a decent basic pay but no one is in there for the basic pay. Unless they are really fresh grads and don't understand the working world... I'm looking for something to excel in and ultimately move up the career ladder, because I don't see much fo a career ladder for my current industry..

cAr|n SG

is it a good idea going for a local bank? seems to me that career prospects are quite limited in a local bank because it's too small for u to grow in... in the first place not even sure if the local banks will survive the competition from foreign banks

my prof also tells us that in local banks your superiors are not as willing to teach for fear that you may snatch away their rice bowl Laughing i suppose it may be different if you are going in as an experienced hire though

talking about size, UOB is bigger than OCBC, but my perception is that OCBC has a stronger focus on service... as for product range i would think UOB manages more products

wallie SG

It's cuz i am from engineering background and really want to break into finance and banking.. that's why i think local banks would be a good and humble place to start.

i guess in most local companies it is similar kind of attitude. but i think generally banks (local and foreign) have pretty good career prospects (foreign banks seem to have better prospects is quite a common perception).

Gunyandao SG

tomorrow is yr interview?
GOOD LUCK!!
hope everything goes well

dreamthinkdo_ers SG

You need to upgrade yourself. CFA or some wealth mangement certification offer by singapore, easier to obtain. CFM or something

cAr|n SG

hey, how was your interview? hope u got the offers u wanted! Very Happy

Prince Cumming SG

yah i was scratching my head abit when u mentioned DBS as big bank in the league of HSBC, Citi etc..

crofty SG

I personally feel that..it is the same..

It still depends on your own performance and stuff Smile

airgrinder SG

If you're getting into personal financial consulting better make sure you do it good and do it well. Both the banks offer a basic pay on top of your com. You can do it extremely well and jump to be their private banking relationship managers (RMs) (handles customers with at least US$1mil net worth) or you can jump ship to other banks when they're head hunting. A large number of a local bank's private RMs jump to a foreign bank last year, causing a near destabilisation in the private banking arm. They brought a large number of their customers away too.

Also a number of officers from a foreign bank jump to a local bank in late 2005, causing the foreign bank to be overworked in that particular dept. The foreign bank had to issue a warning through MAS to the local bank not to "dig" their staff away.

People who started in financial consulting but did not do well are generally "not well received" by some banks and FAs. One can still get a job, but usually not something managerial, where the career could be to a VP or SVP.

wallie SG

I got both..

but the problem is i'm not sure if i should change field totally.. and also being viewed as job hopper..

:-(

can someone help?

Devil1976 SG

Job hopper? Are you currently employed? For how long have ya been with your current company...? Actually, I would think it's quite a good time to 'job hop' now? You can't quite possibly do it when time is bad?