Engineering to Financial

In Singapore, changing from engineering field into financial field is getting more and more common, there could be several reasons: job available... less and less engineering job in Singapore, and of course, MONEY $$$$ SALARY PAY!

I am going to show a few case studies on how others change job from Engineering into Finance, and after you read you will understand why and how they change:

Case study 1:

Sex: Male
Degree: Graduate from NUS, Electrical and Computer Engineering, 1st class, year 2007
First job: Manager at a foreign bank in charge of loan, yes.. fresh degree graduate as manager
Pay: SGD 4k per month, 13 months + 3 months (nealy 99% secure) bonus
Normal engineering fresh graduate pay is about SGD 3k per month only

Case study 2:

Sex: Female
Degree: Graduate from NUS, Computer Science, 2nd upper, year 2005
First job: Local bank as analyst
Second job: Asst manager at an asian bank in charge of forex
Pay: SGD 4k+++ per month, 12 months + 3 months bonus (99%)

Case study 3:

Sex: Male
Degree: Graduate from NUS, Science, 1st class, year 2002
First job: Foreign bank in Singapore
Extra cert: CFA (Chartered Financial Analyst)
Pay: Not clear, but buying a HDB flat with SGD 500k at Tiong Bahru during
2006
Current job: Headhunted to a foreign bank at Hong Kong

Case study 4:

Sex: Male
Degree: Graduate from NTU, Electrical and Electronic Engineering, 1st class, year 2002
First job: Interest rate group in a foreign bank in Singapore
Extra cert: CFA
Pay: SGD 6k per month during 2005
Current job: Also headhunted to a foreign bank at Hong Kong

Case study 5:

Sex: Male
Degree: Graduate from NTU, Electrical and Electronic Engineering, 1st class, year 2001
Master Degree: In engineering from NTU year 2002
First job: Engineer at an European MNC (multi-national company) in Singapore
Extra cert: Master in Financial Engineering from NUS (2006 - 2008)
Current job: At a foreign bank in Singapore

So we know that:

• Financial field gives a higher pay!!!!
• Get into financial field as your first job is better than you change later on
• Don't ever get a master in engineering, it helps you nothing even you stay in engineering field (which in the later posts I will show you some examples)
• If you already in the engineering field, for you to change field, is easier if you get a master in finance or CFA or MBA or others related cert.
• More or less the bank will offer 3 months bonus due to "market rate"

I write all those that I know to my best knowledge. Leave me some comments or examples if you have any experiences. In the later, I will posts more on other jobs, salary and education in Singapore... they apply to other countries as well...

Click here for more salary information on Financial