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Ng Jun Qi
Ng Jun Qi
Level 2. Rookie
Updated 23h ago
Assuming you are below 27 years old, Standard Chartered jumpstart. 2% without any further requirements. Use it as a savings account (park your money) Create a DBS multiplier account , and credit your salary to it. Transfer the amount you want to save monthly to the SC account. Then use the DBS one as expenditure account. DBS also easier to find ATMs.

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If you wish to have estate planning as a career, the first step is to consider joining an estate planning agency like Rockswill / Bequest Pte Ltd and get your AEPP (associate estate planning practitioner). There are also other certification and course which you might want to join. For insurance and other investment products, Singapore has somewhat matured to have a few areas like IFA, FA firms and banks. Your Fiduciary duty depends on who you sign your contract with. I personally would want someone to have Fiduciary duty to me, else the person I have in touch with, is just a salesman. Sorry to say this.

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I believe this is possible as I know people who sell in both countries, in fact, multiple countries. But do check with a compliance team or MAS.

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Junus Eu
Junus Eu
Top Contributor

Top Contributor (Sep)

Level 8. Wizard
Answered 2d ago
I actually think a masters in the relevant subject could be a differentiator since having a Bachelor's degree is so common in the labour market.

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Junus Eu
Junus Eu
Top Contributor

Top Contributor (Sep)

Level 8. Wizard
Answered 2d ago
Given that you sound pretty young - I would say to get a few more years of work experience first. It could be the case that you might not want to pursue computer science post your work experience, or want it even more. Re: the argument of 'possibly getting a higher pay' - I do believe that relevant work experience counts more than another degree. From a cash flow perspective, it also makes sense to pay off your uni loans first, instead of being loaded with another loan, making your total loans $30k + at 4.5% p.a.

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Isaac Chan
Isaac Chan, Business at NUS
Level 8. Wizard
Answered on 09 Apr 2019
Doesn't look too good. Not sure if you read about the recent job cuts for Nomura. https://www.straitstimes.com/business/banking/nomura-axes-8-of-9-equity-research-jobs-in-singapore-in-us1b-cost-cutting-plan I think people entering the industry need to really be a cut above the rest and have to find someway to differentiate themselves.

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When I heard that you got excited, does it mean you really like that job? If so, that means you really like the job and it may be good to accept the job and wait for 1 year to negotiate an increase of the salary based on great performance. It is not uncommon for a staff to have a high pay rise. Unless the current salary is accept is waaaay below your standard level, then it may be better for you to craft a nice and polite email apologising. Craft it even better than what you did now, mentioning that you are so excited over joining the company and contributing that you have forgotten to look into the salary aspects. now that you have looked into it, you realised its way below what you can commend based on your capabilities. :) Best of luck whatever you choose!

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Hi anon, I'm going to give some general pointers here. 1) Don't worry about where you are now. Seek to grow your human capital. The fastest way to accelerate your financial standing is to rapidly grow your income, especially in the first 5-10 years where you can really scale your salary. With more salary, you will have more firepower to invest for your needs 2) Grow your knowledge. You still have time on your side. With knowledge comes the ability to understand what asset classes/investments may or may not suit you. Speak with an independent financial advisor who can provide you with the means to access the asset classes to understand more. 3) Tidy up your personal finance. Review your coverage now that you have started working, plug any gaps you may have, and start to build your emergency fund. Again, an independent advisor will be able to help you in this area. 4) Work on finding the job/role that you really love. You will be the average of the 5 people you hang around with, and that's very true from my experience, so find a mentor at work if you can. It doesn't have to be your manager. 5) Trust in the power of time and compounding. This is with respect to your goal to buy a property. CPF OA can compound rapidly when given enough time, and you may be surprised to see how it grows once a decent amount of time has passed. This ties in to 1) whereby the more you earn, the more you contribute to CPF, the faster you compound. 6) Spend your time wisely. We all have 24 hours. Spending just 30 minutes lesser on social media a day will translate to an extra week worth of time each year. You can use that time to do plenty of things. Pick up skills early (e.g. driving). Learn a third language. Travel and open your mind. Attend courses and upgrade yourself. The possibilities are endless. 7) Lay out your overall plan. Although it may not seem like much now, defining short/mid/long term plan will ensure you hold yourself accountable and can help you maintain focus to be on track. These plans can be in areas like retiring, buying property, etc. There's plenty of stuff that I might have done differently, such as not undertaking certain investment decisions. But I take it as a form of 'school fee'. Good luck!

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N
Ninja
Level 3. Wonderkid
Answered 2w ago
Meeee

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The rule of thumb I use when friends ask me would be 3-5% per year for the total amount of years you were at your current job. So if you've worked for 3 years, you can negotiate a 9-15% raise. If 5 years, a 15-25% raise. This rule is pretty applicable until you are close to your 50s.
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