Lowyat.NET: Latest topics by IBank BeanBag

Ah Chan a high flier in bank become jobless

IBank BeanBag — Wed, 30 Jun 2021 20:06:28 +0800

If DEATH crosses your mind before, you are not alone. Highly successful people around the world took their own life.

This is the story about Chan. I know him from my early banking days. He is 12 years my senior.

He left R bank to join a H bank for a senior role but was retrenched 3 years back. At 46, he is too early to retire yet too seniors to get a job.

He just got rejected by CIMB. Chan said this is normal for him. He get rejected 2-5 times a week. To be honest it did cross his mind to END HIS LIFE as the psychological impact of falling from the top of the bank is serious.

Full story: https://lnkd.in/gSE8scu

RM2,300 for fresh grad is inhumane

IBank BeanBag — Tue, 29 Jun 2021 09:06:03 +0800

RM2,300 pay for graduates in KL has to end! Why fresh graduates should ask for 50% raise after 2 years. Stop enslaving graduates and push them towards “debt bondage”.

It is not right for CEOs like myself to earn so many more times when we try to squeeze you that RM200-400. Some banks and big companies CEOs are earning RM150,000 to RM700,000 a month when your parents need to subsidise you to survive. These figures I have gotten from their companies annual reports. You can verify.

Their expenses to live with dignity in KL is RM3,415.

Car RM500
Petrol RM300
Parking RM100
Room RM600
Parents RM300
Food RM900
Phone bill RM100
Phone cost RM100
Entertainment RM0
Fitness RM0
Wardrobe RM0
Holiday RM0
EPF 11%
Tax 5%

It is only natural that after working for two years, you expect yourself to earn a living wage, RM4,000 in KL.

My full post on LinkedIn: https://lnkd.in/g2xfXsX

Intern to play FB

IBank BeanBag — Mon, 12 Oct 2020 18:50:42 +0800

Name of Company:Paragon Market Place

Role:Paragon Ninja (Intern)

Remuneration:RM500

Requirements:

📊Took a few college courses
📝Know a little bit of each of the two to three major languages
🎞📸⌨️ Know how to use computer software to design and take pictures
📱 Like to play FB, IG and TikTok
🎮 like playing video games

😲Prefer those who have Internet celebrity dreams
📱 Those who love to catch Pokemon are preferred
🧗‍♂️ Those who love extreme sports are preferred
🛹 Preference is given to those who press the phone while they are on the skateboard

Never do these still can apply.

Contact Person:📧pmpjb4u@gmail.com Kivvi Goh

Off-cycle Investment Banking Intern

IBank BeanBag — Tue, 19 Feb 2013 12:06:25 +0800

All Sifus,

I have seen some off-cycle interns (out of June-Aug or Nov-Jan periods) in some of the foreign banks.

I am just wondering if I want to get an intern from March / April onwards for our investment banking business unit, what is the likeliness that we can find someone very decent in KL?

Anyone hired intern before please comment.

Breaking Into Investment Banking Indirectly

IBank BeanBag — Fri, 09 Nov 2012 16:43:00 +0800

Many LYN forumers have written to me to apply to investment banking job. In fact, I generally spoke to most of them and depending on the quality of CV and candidate, move them into the next stage of recruitment process.

My business unit has hired two candidates from this forum itself and a super star intern.

Now that I have a position for people who are very keen to do investment banking job, this is a role that can over the time grow into a full fledged investment banking role.

This is not a role that we expect you to work 24/7/365. Starting pay is decent but cannot be fantastic. Good investment banking benefits. Best for candidate who wants to do ECM.

As usual, find out more about this job on your own and PM me for email to submit CV to skip all HR processes and reach the hiring manager.

Front-office Coordinator, Equity Capital Markets

Responsibilities:

Coordinate investor roadshows locally and globally
Book suitable venues and keep all parties informed on current meeting and travel schedules
Format presentation slides and prepare information packs
Assist in research which includes extraction from databases such as Bloomberg and Thomson
Perform basic analytical work when required
Perform general administrative and operational work
Prepare memoranda, letters and agreements

the highest pay? Investment banking is up there.

IBank BeanBag — Sun, 21 Oct 2012 16:42:23 +0800

Salaries soaring on oil rigs

What jobs offer the highest pay? Investment banking is up there. So is specialist surgery.

But consider this. Slightly over twenty years ago, Johnathan Roberts started work on an oil rig at US$5 an hour. Today, the newly appointed operations manager of Norway's Standard Drilling makes about half a million dollars a year.

Even accounting for inflation, it's a huge jump for the 45-year-old American. Salaries on oil rigs have soared because of a global boom in offshore drilling.

Managers and workers are scarce in this specialised industry, where the work is intense and the job involves living on a platform in remote seas for weeks. For new players in Asia, where the energy demands of booming economies are driving a foray into offshore drilling, the costs and availability of skilled workers will be a big restraining factor. “The amount of money they are making an hour is just mind-boggling now, just five years ago they were making just half that,” said Roberts, who moved to Singapore this year from Texas. He said his pay more than doubled in 1999 when the industry faced a labour shortage like the one that appears to be emerging.

The increasing demand for oil and gas is pushing energy companies to explore frontier areas like the Arctic and new offshore zones given that output from accessible fields is declining. Global oil demand has risen 14% in total to 88 million barrels per day (bpd) in 2011 from 2001, according to the BP annual statistical review. Rapidly growing economies have accounted for much of the increase - consumption in China doubled in the same period to 9.76 million bpd.

Energy and mining offer good salaries, said Wyn James, a Singapore-based Briton who left a career in banking this year to open Zhen Global, a firm that recruits and places workers in mining and oil extraction.

“What we are seeing now is an acute shortage of people actually with applied skills, from engineering or chemical backgrounds,” James said.

“Even if the skills do exist globally, they don't necessarily exist in the place that is needed. So what we are doing is we are picking up people from all corners of the world and we are sticking them into projects, whether it's short-term or medium-term, but where they can earn reasonable money, live in a different country, live offshore, whatever that may be.”

Deepwater drilling, one of the most difficult but most lucrative parts of the extraction business, has mainly been centred in the Gulf of Mexico. But in the past decade, Brazil has become a key player, exploring untapped reserves in the Santos basin as far away as 300 km (188 miles) southeast of Sao Paulo, and at depths of over 1,500 metres. That drive is sucking in hundreds of rig operators, drillers, engineers and other technicians. On the other side of the world, China National Offshore Oil Corp aims to build capacity to produce one million barrels per day of oil equivalent in deep waters offshore China by 2020. India, Asia's third biggest oil consumer, is also expanding into the deep waters of the Bay of Bengal. There were 540 offshore oil rigs in the world last year and, by the end of 2012, the number should rise by 51 to 591, says Faststream Recruitment, a UK-based firm that specialises in hiring for the shipping, oil and gas industry. It is the biggest jump for any year in the past decade, said Mark Robertshaw, managing director of Faststream. In 2013, the number will grow by 28 to 619.

The increase would mean more than 11,000 new jobs over the next 12 to 18 months from a total of 117,000, based on an average need of about 184 jobs on one rig, he said.

“If you consider that over the past 10 years, the annual number of rigs under contract has grown to average 539 during 2011, it becomes apparent that offshore employment for workers actually housed on floaters and jackups will spike significantly,” Robertshaw said. The labour crunch has already seen pay for a roustabout, the least skilled worker on a rig, nearly double in the past five years to US$18-US$20 an hour. A roughneck, a rank higher, earns about US$27-US$28, said Roberts, the US rig manager.

“When the rousta gets a raise it doesn't just stop there,” he said. “It goes all the way to the top.”

A rig operates on 12-hour shifts and typically workers do 14 days and then rotate out for a break for another 14 days.

The schedule puts off many and with salaries in IT and other industries growing, an engineering graduate or technician has other options. “Skilled labour is becoming difficult to find,” said Scott Kerr, chief executive of Norwegian deepwater drilling company Sevan Drilling.

The salary increases show up on balance sheets. For Keppel Corp, the world's largest rig builder, wages and salaries surged 27% to US$1.43bil by 2011 from 2007, while the number of employees increased 5.7% over the same period, according to its annual reports. Nearly 90% of staff work in the oil rig division.

Besides pay, companies try to attract talent with career opportunities. “An engineer does not need to stay an engineer all his life. I was trained as a naval architect and I practised for a few years, but beyond that I was in management,” said Choo Chiau Beng, chief executive of Keppel Corp.

“In some respects, being a highly paid CEO has attracted people to Keppel, because it shows you don't need to be a lawyer to be highly paid, you can be an engineer and be highly paid.”

For rig men like Roberts, the money is not to be sneezed at.

“After clearing taxes, my first check after one week was US$167,” he said. “My first apartment was very small, it was a little bitty one bedroom studio.”

Today, Roberts owns a home in a community in Texas that has manicured lawns, landscaped gardens and four golf courses. He is saving to buy a US$2mil ranch.

“I didn't come up with a silver spoon in my mouth, I came up working through the ranks,” he said. - Reuters

Management Trainee

IBank BeanBag — Wed, 20 Jun 2012 22:00:00 +0800

How would you choose?

how many hours u willing to work a week

IBank BeanBag — Sat, 16 Jun 2012 15:46:20 +0800

Dr can work 100 hours...

Still a lot of ppl want to be...

Big firm lawyer too... Investment banker...

Q2: if canot claim ot, starting pay 3k, engineer job, normal 2 months bonus. How hard r u willing to work as a fresh grad, in term of hours?

No qualified ppl even fresh grad RM100k pa.

IBank BeanBag — Fri, 15 Jun 2012 18:35:53 +0800

hey all, i am here to b****.

At first i thought hiring ppl is easy, always tell CF frens, u all sure not serious, always get lousy candidates.

Now i really feel like vomitting blood.

Front office investment banking job, just need 2 real good fresh grad, interview until i pusing...

where r good ppl?

willing to pay also canot find

Note: new package is up to 100k cos bonus now up to 36 months

Update: Now hire for transformation office only

Top 200 Uni Graduate in JB

IBank BeanBag — Fri, 15 Jun 2012 16:56:19 +0800

I m curious when u r back in JB where do u work.

Let me start first.

University: Nanyang Technological University
Degree: B. Eng Mechanical
Industry: Investment Banking, in KL first

What about you guys?

Go Singapore Study = Work there

IBank BeanBag — Fri, 15 Jun 2012 16:42:19 +0800

i realise most ppl that go to sg will never come here n work.

Those go far far place will come back and earn MYR. Why must it so?

u mean they dun understand =BDP("USDMYR Curncy","PX Last")? if you understand the lingo...