I attended a wedding banquet of an old friend last weekend at one of the 5 star hotel in singapore. It was a relatively low key affair, small ballroom of about 18 tables. Everything was nicely prepared, from cocktail reception to stage to dinner, just what you would expect from a 5 star hotel.

I observed something interesting during the entire dinner. Starting from the cocktail reception, I noticed that almost all the servers are non-singaporeans. I said almost all because I didn't managed to ask all of them, but I spoke to at least up to 10 of them, and none of them answered me in a Singaporean accent. Nothing against them at all, they did provide a wonderful dining experience, and to their credit, a good many of them spoke pretty decent english. By decent I mean I can understand them or that they can understand me by repeating less than 3 times, without wild gesturing and without having speaking to another staff. Yeah, my expectations of decent has really dropped way way down.

I remembered when I was younger, one of the better paying jobs for a teenager is serving at these banquets. If I remembered correctly, it paid about $8 - $12 per hour for a part-timer, and about $1500 - $2000 for a full timer. That was more than 10 years ago though, but for a teenager, and for a lot of semi-retirees, that was pretty decent income. Sadly, I saw none of either lately. I wonder if teenagers these days still do holiday/part-time work? Other than at fast food restaurants, I don't think I've seen them anywhere else. Used to be I see alot of them, especially during the school holidays, especially at banquets, restaurants, retail outlets etc. Nowadays, all I see are foreigners.

Just yesterday, I went shopping at Raffles City. Almost all the shops that I went to are manned by foreigners. I was buying a pair of shoes and I chose a pair and went to the counter for payment. The cashier was a Filipino lady (all smiles and credit to her) and asked for help with her colleague to get a new pair (in english). Her colleague responded to her in mandarin and after some gesturing, I decided to step in to help with the interpretation. I wonder in bemusement initally, why the store manager choose to place just the two of them in the store when they obviously had trouble communicating with each other. Then I realised that its actually a damn smart move. These foreigners obviously work at a local cost to the locals so the store save more and earn more. Being unable to communicate makes them being unable to stand around gossiping and thus focus on working. The Filipino serve all the english speaking customers and the Chinese to serve all the mandarin speaking ones, which basically covers majority of the demographics of the people who shop there.

Smart move to make best use of resources.

Having insomnia. Must be the medication keeping me up somehow. Or maybe its just from the lack of work.

Starting my 3rd job in slightly over a year soon. Been clearing leave for a while now while waiting for the new job to start in November. Was thinking lately, did I make the right career decision by leaving my first job?

I was in the job for 3 years. My first banking job. After leaving, I'm starting my 3rd job next week. Its only been a year and 2 months. Why is it that I was able to stay so long in the first job while moving on so quickly thereafter? Was it because the organisation was so good, or was it because of the lack of experience and hence the lack of mobility opportunities? If I had stayed on, would I have progressed better than what I have now?

As a fresh graduate with no banking experience, I remember my first drawn pay was about $2300. Kinda low when I look at it now, but back then, compared to the IT jobs that were not evening offering me $2000, $300/mth made a big enough difference for me to change industry. The learning curve was pretty steep, but I hung on and survived. When I left almost 3 years later, I was only drawing ~$3000, an approximate 10% increment per year. A year later, I'm drawing a basic of ~50% more. After hopping around. Is this what we have to do to get recognition? I honestly did not like this moving around new jobs. I would have preferred to learn and stay and contribute back to the organisation that groomed me. If I had stayed on, would I be drawing the salary I am getting? I honestly doubt so. Do organisation take you for granted?

Moving on.. yet again

Officially tendered my resignation today. Didn't manage to do so successfully on the first attempt, gotta really put my foot down tomorrow. Resignation is never easy for me, its kinda like breaking up in a relationship, which, sad to say, I don't really handle them well either.

Really, the more i think about it, the closer resemblance they hold. When you start a new job, just like a new relationship, you are full or hope and drive, wondering if this is 'the one' that you are looking for. Some people just enter into it for the sake of convenience, not wanting to be without a job/partner, and just holding on while waiting for a better one to come along.

When a better one comes along, the resignation is akin the breaking up part. Some people burn all bridges, some like myself, try to end things cordially, i.e. remain friends. Some work out, some doesn't. Some turn ugly, some you wish to forget...

I really hope this new job, just like my relationship now, is going to be 'the one'

Decision time again

didnt expect it to be so fast, but another offer is coming along after just barely 4 mths into the new job and i am really excited about it. but feeling kinda bad leaving my boss and the other team mates behind so fast, had wanted to soldier on with them, but i think its easier said than done eh?

"man make their own history, but not under the circumstances of their own choosing"

one of my fav from karl marx.

i think its time i started writing a new chapter

$9000 for NSman, big fucking deal

From CNA

MINDEF unveils details of NS Recognition Award
By S Ramesh | Posted: 31 August 2010 1214 hrs

SINGAPORE: The Ministry of Defence (Mindef) has given details of the National Service Recognition Award (NSRA) announced by Prime Minister Lee Hsien Loong at the National Day Rally.

The award is to recognise Singapore citizens who have served national service.

The NSRA is a monetary award of between S$9,000 and S$10,500 for each Singaporean NSman, with commanders getting more.

It will benefit full time and operationally-ready NSmen in service from August 29, the day it was announced by Prime Minister Lee, and will not be retroactive.

The money will be disbursed equally at three significant milestones during the serviceman's full-time training and his Operationally-Ready National Service (ORNS).

Eligible NSmen will receive S$3,000 at each of the milestones, and commanders will get S$500 more each time.

Commanders are those holding third sergeant rank and above in the Singapore Armed Forces, or sergeant and above in the HomeTeam.

Minister of State for Defence, Associate Professor Koo Tsai Kee, said: "They do more... - usually for each in-camp training they come in one or two days earlier if not more to do the planning and they probably stay one or two days later - so they get more.

"We do not want to monetise the contributions of Nsmen, it is the value we place on it. And it is only for Singapore citizens - the signal that the Prime Minister and government (are sending) that Singaporeans come first and Singaporeans are always important.

"This recognition award is to recognise the contributions of Singapore citizens doing national service full-time and the in-camp training cycle. I think S$9,000 is very significant, but the significance goes beyond the S$9,000.

"It is the value the government and the Prime Minister place on the contributions of Singapore citizens. Many Singaporeans think it is the duty to do national service and this S$9,000 comes as a pleasant surprise and great bonus.

"The first S$3,000 is very useful for an NSman finishing NS and enroute to education. They can pay for their tuition fees for at least one year for most courses in NUS, NTU, SMU. The second and third tranche can go into the CPF to pay for housing and other requirements specified by the CPF."

The first milestone is when the serviceman completes his full-time national service. The money will be paid out at the 20th month of service. It will be deposited into the Post-Secondary Education Account (PSEA) to help with further studies.

The second tranche will be paid after the completion of three high-key in-camp training, or five in-camp training stints, whichever is earlier. And the last payment will be when the full Operationally-Ready National Service training cycle is completed.

The second and third milestone awards will be paid in the servicemen's CPF accounts and distributed into the Ordinary, Special and Medisave accounts according to the prevailing CPF contribution rates. The servicemen can use the amount for their housing, healthcare and retirement needs.

As for those who have already completed their entire national service cycle, Prof Koo said: "Government policy has never been retroactive. The first significant milestone is on the 29th of August when the Prime Minister made the statement.

"Many generations who have served NS, like many of us... recognise that we have already benefited from previous policies and this policy is for NSmen going forward."

The disbursement of the National Service Recognition Award will start from February next year.

- CNA/wk/al

To Associate Professor Koo Tsai Kee, if you think your $9000 is such a fucking big deal, why not I pay the govt $9000, fuck, I'll double your money and make it $18000, and you release me from the rest of my reservist liability? I'm already at the 3rd milestone already, so just fucking let me live my life. How about it eh??

Happy Birthday Singapore

Happy birthday to my country.

The country where I was born, bred and will probably die in.

I don't love you as much as I used to, but I know it isn't really your fault.

You are just a country, a land mass, where I had lived all my life.

It isn't your fault that it is now being run by dogs and going down the hill.

It isn't your fault that you are now being trampled over by masses of barbarians with uncouth manners not to mention intelligence.

I bear arms for you once, I would have given my life to defend you and its people once, but nowadays, it just doesn't seemed worthwhile anymore.

I would never do you harm, but I don't know if you will do the same for me.

As much as I loved it here once, I will leave you now at the first opportunity that comes knocking.

Enjoy your 'birthday'

The state of our financial industry

An interesting clash is brewing between insurer AXA vs Finexis. A well written article is written here. As the writer mentioned, the outcome was pretty obvious to those in the industry. Its actually pretty mind boggling as to how AXA came up with such a scheme in the first place. Anyone else could see the potential pitfalls from miles away.

The financial industry, or to be more specific, the wealth management are, to be honest, is a very 'grey' industry. Majority if not all of the sales force, including myself, is really in it for the money. I dare say I never ever mis-sold or rather misrepresented a product in all this years, but I dare not say that every single product I have sold was based on customer's needs. Its a running joke in the industry that the term 'needs based selling' is actually based on the adviser's and/or the bank/insurance company's needs first, not the customer's.

In a bank, whenever the bosses presses for sales, for 'flavor of the month', as a sales staff, you simply have to deliver. I remember vividly, one of my early cases in the bank, I recommended the customer a capital protected single premium product that I believe was best for the customer which the customer bought. At the end of the day, I had the entire set of sales documents thrown in my face, because I wasn't answering to the 'corporate call' of selling the bank's structured deposit. The manager basically stressed that he only wants sales for the structured deposit and nothing else and we have to deliver it 'one way or another'. Re-toolings, telecalls till late into the night, roadshows, etc.. all without extra OT pay, just stressing you until u gave up and start selling what they want before you are let off. That was an eye opening.

After leaving the bank, I went into the insurance industry, thinking that I am in control of what I wanna recommend to customers. My thinking wasn't exactly wrong, but you soon realise that without a basic pay, but with financial commitments to handle, you tend to recommend customers products that gave you the highest revenue. A very simple test to see if your agent is doing the same, simply by looking at the tenor of the plan they are offering you. More often than not, irregardless of whether you are 20 or 30 or 40, its always a life plan or at least a 25 year plan as it pays them full commission. So although there isn't someone telling or pressing you what to sell, consciously or subconsciously, you always end up selling the product that gives you the highest revenue, and thereby achieving what the company is pushing for that particular month anyway.

I would applaud if there ever comes a day financial planning can be done on a fee based basis. However, I probably wouldn't see it in my lifetime. The idea is great, but getting people to pay for advice, especially Singaporeans, are almost guaranteed to fail. Regardless of whether in a bank or insurance company, I never fail to meet someone who would try to bargain for better rates or free gifts etc. How can you expect this same group of people to pay for advice?

Honestly, its getting tougher and tougher for me each day to motivate myself for work these days.