Starting salary
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jtoh:
Deputy Directors and Senior Legal Counsel are also on 11 month contracts? So even more senior positions are on short term contracts?
Not sure about the other posts. I was referring to fresh accountancy grads, definitely not at DD level. -
jtoh:
Are these fresh grads assured of a new contract when they return after their one month break? It sounds like they're on a perpetual 11 month probation with no job security.[/quote]Yes, they will leave once they managed to get perm job outside.
Yes, i know of this statutory board with many fresh accountancy grads on 11months contract and less than 10days annual leaves! These young staff are told to take a month off and return with a fresh 11month contract. Shocking, but it is real and happening. Why would these young grads agree to work on such unfavourable terms? I was told they had difficulty finding permanent jobs! Such is the employment climate in singapore now. If you have a chance to attend events and workshops organised by wda, e2i, etc for PMETs, you will see many unemployed Singaporeans including those in their thirties.Fairy:
[quote=\"sleepy\"]My friend's dh is on contract in a statutory board. Contract for many years liao.
His contract might or might not get renewed. So there's no job security even in government sector.
According to another friend who is working in another statutory board, after his batch, all new hires are on contract basis.
Are fresh grads on contract too? -
Zeit:
No, i was not referring to MAS. Another stat board.
Fairy,
11-month contract? MAS? It's pretty common to have such short term permanent contracts if there are big regional events or summits where they need extra pairs of legs and hands from freshies or back to work women. WTO, WEF, YOG, ASEAN Summit 2018.![](\"https://s26.postimg.org/5xsvbxjp5/2017-08-30.png\")
https://s26.postimg.org/5xsvbxjp5/2017-08-30.png\">
Accountancy has always been the iron rice bowl. I am therefore very surprised too. Guess the job market must be very bad now. Those who are in a secured job may not be aware. -
Fairy:
Yes, like I said, many veterans 'pa see buay chao' so please be patient until someone decides to become a kiasu parent and free up the position for freshies. The turnover for corporate services division (which accountants and auditors are parked under) is usually lower.
Not probation. Contract positions due to limited permanent headcount. Easier to get approvals for contract headcounts. However, i find the 11months part a bit bullying on the part of the organisation.Zeit:
It's been like this since the 90s for MNCs, regardless of seniority. The public service and GLCs adopted this practice in order to stay lean (partly due to automation, etc.) some 10-15 years ago; most positions are on contract basis, unless you join before a certain year.
Many veterans in their late 40s-60s just won't quit or job-hop, as they may lose their 30+ days of annual leave and perks.
In fairy's friend's case, I suspect the '11 month' could be her probation period so if the probationer performs well, the contract may be converted to a permanent one.
Otherwise, she could have been hired to cover a perm staff who's currently on no pay leave or sabbatical (e.g. pursuing an overseas masters).
There's a reason why MOE is trying to herd youngsters to the longer pathway (be it apprenticeship, polytechnic or ITE) and to cap the % of graduates p.a. There are just not enough full time jobs to spare. See young accountants have to face this sort of job insecurity after graduation... -
Fairy:
OK, guess they have full discretion to set the tenure per their manpower needs.
No, i was not referring to MAS. Another stat board.Zeit:
Fairy,
11-month contract? MAS? It's pretty common to have such short term permanent contracts if there are big regional events or summits where they need extra pairs of legs and hands from freshies or back to work women. WTO, WEF, YOG, ASEAN Summit 2018.
Accountancy has always been the iron rice bowl. I am therefore very surprised too. Guess the job market must be very bad now. Those who are in a secured job may not be aware.
Bear in mind there are back-to-work freelance acountants too. -
Work and opportunities, as we know them, have changed.
https://mobile.nytimes.com/2017/09/03/upshot/to-understand-rising-inequality-consider-the-janitors-at-two-top-companies-then-and-now.html -
excellent reading, thank you.
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i think the best jobs are still gov & mnc related entities.
Or work for SMEs and learn the ropes and explore business in the future. -
My recommendation is to take up as much as intership or short contracts during holiday. Or even professional certificate like CFA If you are intending to go for banking/ finance industry. Having a good grade plus relevant experience allows you to stand a good chance for interview. Once when you secure an interview and get the offer, thats when you have the chance to negotiate you salary.
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Accounting is in demand in accounting firms’ audit and tax teams. Accountants in stat boards do more standard accounts, and have an easier life. There’s always give and take.
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