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Fresh Graduates

Young adults out into the working world

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Fresh Graduates

Junus Eu
Junus Eu
Top Contributor

Top Contributor (Jun)

Level 8. Wizard
Answered 3w ago
Interestingly, I have also spoken to people who feel that they are being rejected for jobs as they are too senior, are expecting too high of a salary etc as the company can always look for fresh blood that is easier to learn. Of course, it could be industry specific. Tip: if they say they are looking to hire senior positions, ask what skill sets they are SPECIFICALLY looking for. Indeed, a young person could be smart and enthusiastic, but at the end of the day, companies are looking for people that can do good work, and that is a function of attitude and aptitude.

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Kok Koon
Kok Koon
Level 5. Genius
Updated on 07 Jun 2019
At 26, I didn't have a choice. I gave up a lucrative career in finance/audit to run my own business. So with that mind, I benchmark my peers who are climbing the corporate ladder. Then, my calculation was using the median income of my friends at $X,000. I would need $X,000 x 12 months ( + 2 months bonus) x 1.17 (additional 17% in CPF from employer) x 1.2 ( 20% Risk premium for selfemployment) to make sense for me to stay in business. Otherwise, I should go back to my corporate career. Now I can't turn back. Did I shortchange myself? Perhaps at the initial 2-3 years, but I still went for my holidays (regional to start with), invest in $4,000 courses to master business skills and bring my mom overseas every single year. At 34 this year, 10 years since I graduated, my newly wedded wife and I both hit FRS, maxed MA and have a decent warchest ready for equity investments. I'm nowhere near FI but with the exact same planning - savings and low consumption, I'm on track. If the economy tanks today, my home (bought cheaply) can be paid for with CPF OA for the next 10 years. We can choose to travel on the cheap when there's blood on the streets, all because of savings. #genxyolo -- I'm sharing with you this because I graduated in the ashes of 2008 financial crisis and have made several boo-boos in investments along the way, loosing tens of thousands. The biggest saving grace is that in the midst of it all, high savings help corrected all the mistakes I've made and give me the bullets I need that will propel me to FI when the next financial crisis come. If I chose to consume inordinately, I won't be able to sleep with a peace of mind as my responsibility as a family man grow bigger. Nothing is forever, esp good jobs and good economy. So a good savings habit keeps you dry on rainy days. You also don't need to suffer for FI. Just live below your means.

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Fresh Graduates

Randy Chai
Randy Chai
Level 4. Prodigy
Updated on 18 Jun 2019
Hi there, Breaking down your question into 2 parts: 1. Would you intern at a new small startup with reputable founders and investor backing? 2. Would you intern at a company that has just started your department and haven't even hired your direct superior yet? My personal opinion is that you should choose an internship/company that puts you in the best possible learning environment/position to gain knowledge and experience that can be the most beneficial for your personal and future career development. ! Some questions that I often ask myself prior to choosing an internship: 1. Am I able to learn and/or gain sufficient knowledge and/or experience in this role, from this company? 2. Am I able to learn and/or gain sufficient knowledge and/or experience from my mentors in this company? 3. Would there be a chance that I will come back to this company as a career option when I’m done with school? You should consider your internship objectives and what you see yourself doing for a career after you’re done with school. For example, if you are a fresh graduate and aspire to work in a bank, it’s good to know that a bank will more likely hire a fresh graduate that has done at least one internship with a bank/financial institution as compared to a candidate that has not done an internship with a banks or financial institution. Next, what is your career interest? E.g. Operations, Sales, Marketing, Accounting, Engineering or Design? Generally speaking, roles don’t really matter if you’re interning at an early stage Startup (Series A and lower). As more often than not, your job scope will consist of multiple roles across various functions. However, for a later stage Startup, it would matter more as your role will tend to be much more defined and focused. The good thing about joining smaller Startups is that very often you will be able to work closely with the founders. You will be able to gain hands-on and in-depth experience on building a company, starting something from scratch with limited resources, running a department and/or launching a product. This would be a great learning experience for you which money can’t buy and no schools can teach! As compared to working for a larger scale startup/company, you tend to experience less as your job scope and task are much more defined, lesser responsibilities and cross-functional tasks (but more in-depth). Also, a larger scale startup/company would tend to have sufficient or surplus of resources which allow them to hire every necessary/available position in their company while a smaller scale startup/company often have to bootstrap and have their employees/interns stretched across multiple roles. Overall, it is important to understand that there will be higher risk and uncertainties involved when working for a startup as compared to working for an SME/Corporation. Therefore, it is good to be aware of/understand the fundraising stages and financial health of the Startup. As from there, you can work backwards the potential runway that the Startup has, which would be rather important if you’re doing a longer-term internship, i.e. 6-12 months duration. In conclusion, if you find that the role matches your interest and you're able to learn and gain sufficient knowledge/experience from the founders, then you should definitely take on this internship opportunity. However, the only red flag here is that usually, a company would first bring in a lead/manager (who will be in charge of this new department) and then have the lead/manager to hire his/her own team. This way the company can reduce the risk of having a mismatch of personalities/working relationships between its managers and his/her team. I hope this will help. Have fun jumping onboard this Rocketship!
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Ericsson Ting
Ericsson Ting
Level 3. Wonderkid
Answered on 25 May 2019
For one,you can start as little as $100 with posb invest saver plan,it invest in A35 (sg bond etf) and g3b(sti etf) Summary: 1.investing $100-$500 per month use posb and Maybank 2.investing $500-$1000 per month use OCBC @3%,min $5 or Maybank @1%,min $5 3.investing $1000-$3332 per month use OCBC @0.3% ,min $5 4.investing $1000-$5000 per month Use standard chartered,@0.2, min 10 For monthly purchase of A35, there are only two options, standard chartered and posb 1.below 1k,use posb invest saver 2.above 1k,use standard chartered @0.2%,min $10 Due to me serving in national service with a paltry pay of $800, allocating $100 to Singapore bond index fund and $100 to STI ETF(g3b) is just right manageable hence I choose POSB invest saver. Besides, I am pretty sure everyone owns a Posb account from the first day you were born, hence convenient is also a huge factor here you can either pm me through fb or comment on blog or simply read more about POSB invest saver at my blog:http://sonicericsg.blogspot.com/2019/01/post-77week-59investment-project.html hope this helps!:)

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OCBC 365 Card

Fresh Graduates

Ang Yee Gary
Ang Yee Gary, Medicine at National University Of Singapore
Level 3. Wonderkid
Updated on 07 Jun 2019
For me I use ocbc 365 which gets 6 percent cash back up to 80 dollars. It really depends on Yr spending pattern and whether u want miles or cash back

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Yinghua Liu
Yinghua Liu
Level 4. Prodigy
Updated on 07 Jun 2019
Depends on a lot of factors. Let’s say you are earning salary of 2800 (after cpf deduction), spend $500 a month and current saving balance of 10k. DBS Multiplier -1.85% - Salary credited to any posb/dbs account under your name - No min spend on DBS credit card (any amount will do) Eligible transaction per month 3300, thus giving you 1.85% UOB One -1.85% - first 15k - 1.5% min spend of $500 on credit or debit card (MUST) - first 15k - 1.85% if meet credit card spend and giro 3 bills/credit salary OCBC 360 - 1.5% - first 35k - 1.2% if salary credited - first 35k - 0.3% if min spend of $500 on ocbc credit card Based on the above assumption, either DBS Multiplier or UOB One is good. If you spend less than $500 a month on credit cards, you can go for DBS Multiplier. If you have 3 bills to giro, you can open both DBS Multiplier and UOB one as UOB one doesn’t require salary crediting as mandatory component compared to DBS, OCBC. You can also refer to the link on comparison by Seedly. https://blog.seedly.sg/best-savings-accounts-singapore/

DBS Multiplier

POSB Everyday Card

Fresh Graduates

I use POSB Everyday card. Just buy a $1 ice cream from mcdonald and you qualified the credit card spend category. Plus, this card has no min spend required. You can use it for groceries, watsons too.

DBS Multiplier

Credit Card

POSB Everyday Card

Fresh Graduates

Tay WenHao
Tay WenHao
Level 4. Prodigy
Answered on 02 May 2019
Hi. It depends on what you are actually spending on. For POSB Everyday card, its benefits are for specific merchants. Like SPC and Sheng Siong for the high cashback. Bills is only 1% and everything else is only 0.3%. Which means that if you use the card for any other transactions like online shopping you only get 0.3%. I'm currently using DBS Livefresh Card. 5% rebate for Online spending (capped at $20) and also 5% for paywave transactions (also capped at $20). But minimum spending of $600/mth. If you are unable to hit the min spending it'll be 0.3% (same as POSB Everyday)

Fresh Graduates

Let Seedly help you to start by first reading it here: https://blog.seedly.sg/read-me-first-your-personal-finance-journey-starts-with-this-article/ There's a sea of resources in the Seedly blog and some at the Seedly FB group. Happy Investing! :)

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Does your company or your job scope needs your Master Degree to get a higher SALARY position? If yes, pls go for it. If the degree does not secure you a higher SALARY, then let ur working Experience and skills do the magic for you. Hope my reply helps. If you feel this reply have Quality, please upvote and check other Quality Reply. https://seedly.sg/profile/a-kenichi-xi Thank you.
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