HSBC job as Financial Planning Manager

[pachinko]

I deliberately made alot of errors in my reply , come correct and criticise clinton666 you CBM.

 

[moolightaffairs]

i got a friend who is working as a RM in HSBC claymore outlet. you dotter is a new grad frm a lousy uni without exp, how much u expect? i hate tonychat but i have to say something he will say, wake up from your sinkie idea!!!

 

[krafty]

this industry is very tough as I was told. some insurance companies did offer me $1K per mth to tide me over the few mths but need to pay back. Others has better terms but also have to pay back. Are you sure the HSBC one no need to pay back 2K,very strange? Commission range from 35% to 50%. Better visit some of these insurance firms to find out more.

 

[Zombie]

Here we have a concern father seeking advise from forumners and yet some replies are simply unflattering for the image of Singaporeans. Apart from "cooleo" , some others who responded behave like mental patients out to devour and make insensible remarks, are they sick in their minds? Go IMH and seek help if you have a problem , nobody force you to reply to someone asking for advise but if you choose to reply , be polite and cultured !Shame to all these diseased minds who cant even behave humanely.

cool bro.. you are not the first trying to change the culture and definitely not the last...

 

[cooleo]

this industry is very tough as I was told. some insurance companies did offer me $1K per mth to tide me over the few mths but need to pay back. Others has better terms but also have to pay back. Are you sure the HSBC one no need to pay back 2K,very strange? Commission range from 35% to 50%. Better visit some of these insurance firms to find out more.

Hello krafty, banks will offer you $2k+ pay as basic per month. Why they can pay you basic, whereas insurance companies cannot? Cos they will give you much lesser cut for each insurance sale you make. Also, there is no recurring premium cut for you to take in banking insurance.

To conclude, no such thing as free lunch!

 

[cooleo]

i got a friend who is working as a RM in HSBC claymore outlet. you dotter is a new grad frm a lousy uni without exp, how much u expect? i hate tonychat but i have to say something he will say, wake up from your sinkie idea!!!

What is your frd's name? First few letters will do.

 

[Zombie]

this industry is very tough as I was told. some insurance companies did offer me $1K per mth to tide me over the few mths but need to pay back. Others has better terms but also have to pay back. Are you sure the HSBC one no need to pay back 2K,very strange? Commission range from 35% to 50%. Better visit some of these insurance firms to find out more.

i think, maybe it is bank counter sales job for walk-in customers, with a focus on insurance ...

 

[krafty]

it's still tough,I was asked to visualise the 1st 10 persons that I can sell the plans to. some friends and family come into my mind,that's all!
After selling to them, I will have to approach strangers and no guarantee that they will buy from you.

Hello krafty, banks will offer you $2k+ pay as basic per month. Why they can pay you basic, whereas insurance companies cannot? Cos they will give you much lesser cut for each insurance sale you make. Also, there is no recurring premium cut for you to take in banking insurance.

To conclude, no such thing as free lunch!

 

[moolightaffairs]

What is your frd's name? First few letters will do.

hehehe, i will not play my friend out. thanks for your concern.

 

[moolightaffairs]

Here we have a concern father seeking advise from forumners and yet some replies are simply unflattering for the image of Singaporeans. Apart from "cooleo" , some others who responded behave like mental patients out to devour and make insensible remarks, are they sick in their minds? Go IMH and seek help if you have a problem , nobody force you to reply to someone asking for advise but if you choose to reply , be polite and cultured !Shame to all these diseased minds who cant even behave humanely.

this is a good forum with real and RAW opinions. dun talk like a pap puppy. if u cant face the real world pls hide away.

 

[oli9]

My daughter has been offered above job to sell financial instruments at ( basically insurance ) HSBC , her job is to look for clients to sell insurance to them . But surprisingly , the job pays very lowly , much lower than OCBC ! As a degree holder from a reputable University , her pay is like being an audit intern , $2k which is a clerk's pay.

Ah TOK
Your daughter is just a Business Grad as oppose to an Accountancy grad/interns who are being offered $2.3-2.5K per month at the Big 4.
So 1stly, your info are not updated.
$2K pay for a inexperience worker is already quite a good start. How much do you think she should be commanding?

 

[shOUTloud]

My daughter has been offered above job to sell financial instruments at ( basically insurance ) HSBC , her job is to look for clients to sell insurance to them . But surprisingly , the job pays very lowly , much lower than OCBC ! As a degree holder from a reputable University , her pay is like being an audit intern , $2k which is a clerk's pay.

I am wondering if this job is long term as looking for new clientsw to buy insurance is very tough , we normally buy insurance from friends or relatives as an obligation to assist them but how many friends and relatives can we sell to? Especially most of them must have insurance already. I am afraid she will be exploited for a few months to get new clients and after she runs out of contacts , she will lose her job for being unable to produce results.

I hope some forumners here can advice me so that I can help my daughter decide as I smell a rat in this position which will benefit the bank more than the worker. A friend told me staff turnover is very high in this industry , can someone with experience please reply ? Thank you.

Dear Peter,

Your daughter should ask herself what she wants to do. Cos she is being offered sales job and as Cooleo said, sales is very tough but for those who made it, the returns are tremendous.

I had a fren who is the same age as me but he is very good at sales and he is now a sales director. His salary is more than twice my salary leow. I am talking about more than 10k a month.

However, most Singaporeans are damn fark-up at sales cos no gift of the gab, thin skinned and too haolian. So ask your daughter what she wants.

2k a month to do sales is not bad leow. Real financial advisors survive solely on commission. Finally if your daughter has an honours degree, maybe she should go for a civil service job.

 

[cooleo]

hehehe, i will not play my friend out. thanks for your concern.

Haha i know of one or two fellas there leh. Ed*** or Jo**** ?

 

[Wang Ye]

1) It's basically a sales job despite the fancy title.

2) Does she has anything else? If not no harm trying it out.

3) If the pay is an issue then don't take it up.

 

[moolightaffairs]

Haha i know of one or two fellas there leh. Ed*** or Jo**** ?

:X he is a long time friend and a ex colleague of mine. so i wont be telling you any name.

thats the prob with sinkies. those without degree will ask to take 900 per mth and work 12 hrs. those with an ordinary degree without exp will think they damn big fuck and asking 2.5k or even 3k without even started working yet! elitism at its best! :oIo: those u grad should wake up and those without degree should fight back!

 

[Cerebral]

I agree with Moonlightaffairs. 2k is already an ok amount for a fresh grad. A degree to me doesn't mean shit. Even if you have an honours does not mean you can work.

By the way, Clerks do not earn 2K, unless they have been at it for the past 10 years. You got to wake up your idea.

 

[Spock]

As bro shoutloud has said, ask your daughter if this is a job she likes to do. If not, even if she is paid higher, she will still be unhappy. It becomes worse when the office environment is unfriendly to her. Passion for the job is the main motivation to get her through each day with enthusiasm.

If she just wants this job as a temporary job while she looks for other jobs, then the $2K salary is not bad, she can keep on looking for something else while working at this job. In the meantime, she can pick up skills like networking to make herself more marketable in future.

If she really wants to work in this line after sometime, then I am sure she will be motivated enough to seek out better opportunities for herself to build up a successful career. In other words, provide her with advice from your experience and let her make her own decisions.

As a parent, I understand your concern in her welfare but she is an adult now and has to take some responsibility for her own life. All you can do is provide guidance and advice. She has to know what she wants to do with her life as it is hers, not yours. Unless she is hellbent on a path of self-destruction, it is not the time to worry too much and I think earning $2K hardly qualifies as going on a path of destruction.

When I was young, I had no such luxury. I was under a lot of pressure to start working and contribute to the household income. Nobody ever asked me if I liked my job and I don't think I turned out any worse for wear. Life is a journey, not a destination, so tell her to learn to enjoy the scenery wherever she may be going.

 

[krafty]

well said! are you a lady? How old are you? thks.

As bro shoutloud has said, ask your daughter if this is a job she likes to do. If not, even if she is paid higher, she will still be unhappy. It becomes worse when the office environment is unfriendly to her. Passion for the job is the main motivation to get her through each day with enthusiasm.

If she just wants this job as a temporary job while she looks for other jobs, then the $2K salary is not bad, she can keep on looking for something else while working at this job. In the meantime, she can pick up skills like networking to make herself more marketable in future.

If she really wants to work in this line after sometime, then I am sure she will be motivated enough to seek out better opportunities for herself to build up a successful career. In other words, provide her with advice from your experience and let her make her own decisions.

As a parent, I understand your concern in her welfare but she is an adult now and has to take some responsibility for her own life. All you can do is provide guidance and advice. She has to know what she wants to do with her life as it is hers, not yours. Unless she is hellbent on a path of self-destruction, it is not the time to worry too much and I think earning $2K hardly qualifies as going on a path of destruction.

When I was young, I had no such luxury. I was under a lot of pressure to start working and contribute to the household income. Nobody ever asked me if I liked my job and I don't think I turned out any worse for wear. Life is a journey, not a destination, so tell her to learn to enjoy the scenery wherever she may be going.

 

[Spock]

well said! are you a lady? How old are you? thks.

None of your god-damned business. Thanks for your compliment though.

 

[fukyuman]

If yr dotter presentatble enough, she can use the opportunity to snag a rich husband and become tai tai instead. Problem with low pay solved.