# Potential Move to Singapore - Looking for Job Opportunities In Banking



## Tiber

Hi, 
I currently live in the UK and will be visiting Singapore in the 1st week of June to step up my job search. Does anyone know what the job situation is for Fixed Income banking roles. 
Who are the main hirers in the banking field?
What are the Visa requirements for securing work in Singapore?
Any useful contacts/head hunters would be most appreciated.

Also how are the nurseries/nannies service and are they expensive?

Thanks


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## simonsays

If you are coming from UK, it would be better to start your search from UK .. start off with the British banks which have presence here .. BarCap, HSBC and RBS .. 

Visa: if you do some search, you will find out that either you can get a PEP (google MOM PEP) .. if you qualify, or the common approach, for those who don't qualify for PEP - employer applies for EP.

Your primary concern should be to find a job .. and an employer who will apply for EP

Singapore doesnt' allow self sponsoring of Employment pass.

For headhunters, do google - you can find a load .. 

What is the description of Fixed Income Banking role ? I am a bit lost there ..


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## Jimmy1978

Agreed. You should start off with HSBC, RBS etc. Then move on to the local banks like DBS, POSB, OCBC, UOB..at the same time, try private banks too like bank of singapore. 

Visa: Visit the singapore immigration website and their Ministry of Manpower (MOM) site to find out which visa you qualify for. If i'm not mistaken, there is a minimum income criteria. 

Headhunters: 6557 4655 (Morgan McKinley), Kerry Consultants etc

Are you in private banking, fixed assets, trading?

Are you looking for part time nanny? or live in nanny? In singapore, it is common to employ live in maids and they cost from $350 to $600 a month depending on how generous you are.


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## simonsays

Jimmy1978: I would tread carefully, re: part time nannies.

Part time nannies, unless they are PR or Singaporeans, are ILLEGAL .. if employed from other households .. I wouldn't want to see somebody sent packing home for employing illegal part time nannies .. (I meant the nannies - if caught, they are deported .. )


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## Jimmy1978

ecureilx said:


> Jimmy1978: I would tread carefully, re: part time nannies.
> 
> Part time nannies, unless they are PR or Singaporeans, are ILLEGAL .. if employed from other households .. I wouldn't want to see somebody sent packing home for employing illegal part time nannies .. (I meant the nannies - if caught, they are deported .. )


Appreciate it ecureilx. I didn't know about that. I know that if maids moonlight, they get deported and if the family that hired them was foreigner..their visa/pass gets revoked straight away.


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## WonderLust

Tiber said:


> Hi,
> I currently live in the UK and will be visiting Singapore in the 1st week of June to step up my job search. Does anyone know what the job situation is for Fixed Income banking roles.
> Who are the main hirers in the banking field?
> What are the Visa requirements for securing work in Singapore?
> Any useful contacts/head hunters would be most appreciated.
> 
> Also how are the nurseries/nannies service and are they expensive?
> 
> Thanks


Regarding childcare 
Play Schools 

Age of child: 18 months to 3 years
Time: up to three hours care daily
Cost S$ 500+/mth

Child Care Centers/Kindergarten 
Age of child: 18 months to 6 years
Time needed: Full-day, half- day
Cost: S$ 250 - 700/mth

The above information is taken from Child Care Information Service Hotline Ministry of Community Development and Sports (MCDS)

After which if you decide to stay in Singapore, your child will be going to Primary School at age 6. Local school Price for that will be $2,900 - $4,300+ per annum

Hope this helps!:clap2:


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## simonsays

Jimmy1978 said:


> Appreciate it ecureilx. I didn't know about that. I know that if maids moonlight, they get deported and if the family that hired them was foreigner..their visa/pass gets revoked straight away.


well, not so bad .. the maid gets deported, or warned .. the employers generally forfeit their 5,000 $ bond .. and banned from employing maids for x number of years


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## Tiber

Thank you all for your replies...very useful info. Ecureilx - I am in fixed income (Gov't & corp bonds) sales, but happy to do anything within financial markets. However have realised that regardless of experience you also need alot of luck. Currently trying to arrange meetings...not easy.
Childcare/nannies and schooling cost sounds reasonable, intially would have a live in nanny - are there other costs to consider with live in nannies?


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## simonsays

A quick reply: there are no live-out nannies, unless you chose an illegal one .. 

Look up MOM -for FDW basic recommended pay, levy and expenses .


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## Tiber

Will do, thanks...


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## lorgnette

Tiber said:


> Hi,
> I currently live in the UK and will be visiting Singapore in the 1st week of June to step up my job search. Does anyone know what the job situation is for Fixed Income banking roles.
> Who are the main hirers in the banking field?


1. In the banking field esp in S E Asia, higher positions are handled by recruiters/sourcing agents that has standing relationships with their clients. Unlike MNC, you might find that a main branch eg Manulife, Citi etc in US, Canada, UK does not control/govern its Manulife, Citi branches in S E Asia, hence do not share a common hiring platform. 

2. Each bank has unique sourcing agent so there is no main banking hirers per se. 

3. HQ might be in Tokyo, HK SAR or Taiwan. Consider that moving forward before next or if/when it reach final decision can be a slow process unless you have local supports- and fit your schedule accordingly.

Visiting Singapore in June, what is your plan and length of stay? 
Advice:
meantime, get phone unlocked before you arrive

Enjoy your search


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## Canuck_Sens

Hi,

I am also in banking and I heard good things about Singapore. I am more in risk management.

I have been doing some research and may be you folks can shed some light on this as I cannot still figure some stuff out.

I feel that salary varies a lot for example for the same title. I could not come across a valid source to be honest. The benefits are also something that is not clear.


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## simonsays

Canuck_Sens said:


> * I feel that salary varies a lot for example for the same title. *I could not come across a valid source to be honest. The benefits are also something that is not clear.


You are correct on that .. if you negotiate well, you get better benefits / terms / pay  

which is what i was trying to tell another poster here .. 

expat benefits are going out of fashion, but .. a few do provide .. like Barcap, Citi, Credit Suisse .. for those who demand and deserve (read - Asians are not generally there in the 'allowed to negotiate' group .. )


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## Canuck_Sens

I do agree that it depends where you worked before. If you worked in reputable places in some jurisdictions that should be more than enough. 

If there were nationality discrimination I would never probably have left Canada to Dubai as it would not have made any sense.

If you feel that Banks do not value your potential there move to Dubai. Singapore has quite a reputation here.


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## ptrlee

Of course when you are going to work for a corporation it depends on your talent how well you can negotiate for your salary on the basis of your work experience. As far as Singapore is concerned, I think it is one of the best places to look for a job. The growing economy of Singapore requires more human resources.


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## simonsays

ptrlee: and it is getting tougher and tougher to get Employment passes .. so it is for PR .. considering the latest ramblings in the ground post - election ..


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