# Getting a job in finance in Singapore



## marc.favroo (Jul 25, 2015)

Hello guys,

I recently moved in singapore via my company (internal transfer) from London and I love Singapore... A lot of friends from Europe are asking me how easy/difficult it is to get a job here straight from London and my initial impression is that it is quite hard...I know Singapore recently changed its laws so that it is harder to move for finance professionals (firstly via a quota and then a policy of advertising job opportunities to locals first)...What do you think? Is it 'doable' to get a job in Singapore when you are qualified (e.g. CFA) even if you don't hold the right to work in the country?


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## BBCWatcher (Dec 28, 2012)

Singapore's Fair Consideration Framework does not always require local advertisement of job opportunities. In particular, if the prospective employer is offering a fixed monthly salary of S$12,000 or more (not including bonuses, commissions, etc.) then employers are merely "encouraged" to advertise job vacancies locally. Also, prospective employers with 25 or fewer employees are not required to advertise.

I've just described many prospective employers and job roles in the financial industry.

That said, the financial services industry in Singapore is, I'd say, "tepid." It's not doing badly, but it's not like it used to be. So employment demand has moderated. But most of that moderation isn't due to the FCF. The FCF does tend to depress foreign workforce demand for entry level and mid-level employees. If you're a run-of-the-mill CFA who isn't commanding a S$12K+ salary and who doesn't have "boutique" skills of relevance to a small specialist firm then Singaporeans and PRs are going to be well advantaged. (Quite rightly so, in my view.)


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## marc.favroo (Jul 25, 2015)

Thanks! That's quite informative... I wonde rif there is a reason for the 12k cutoff...


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## BBCWatcher (Dec 28, 2012)

Simple. Higher income people spending more money in Singapore, generating greater economic activity and jobs. Whether that's a good or bad idea is a separate question -- Singaporeans vary in their views -- but that's clearly the intention, to make it comparatively easier for higher income people to come to Singapore (for a little while anyway -- retirees need not apply) and to boost the economy and the general welfare of Singapore.

It's all about the money, frequently.


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