[cbower33]

Hello,

I am eager to move to Singapore from New York City. I have 3 years work experience in asset management consulting at a big 4 accounting firm and with a bank for 4 years working in hedge fund accounting/operations. I know Singapore certainly has a market for these types of jobs but I also keep reading that it is harder and harder for Ex-Pats to get hired over locals. The job reductions at banks has also impacted hiring there.

What is the best way for me to apply to companies in Singapore? Should I work with a recruiter. Also do you think it will be easier or more difficult to get a Visa sponsored by a company there for a US citizen?

Thanks,
Chet

 

[beppi]

You cannot be hired over locals, by law, as the employer has to prove they cannot find suitably skilled locals to be allowed to hire a foreigner. So focus on knowledge and experiences you have that are rare or non-existent in Singapore.
Recruiters are basically useless in Singapore - approach potential employers directly for better chances.
And be prepared to accept a salary cut.
Then you may have a chance.

 

[asublimepizza]

Beppi has hit the nail on the head. Pay close attention to "hired over locals".

Most large firms are able to circumvent this with a ready excuse and real justification of broad range of finance experience required. Apply to large firms would be your best bet, like UBS, Swiss Bank, maybe smaller ones like Deutsche, maybe even a government bank like DBS.

If you do, do not ditch your information from home as media here are slanted just enough to portray or emphasize how things should move.

I would say your chances are definitely better than locals as companies generally prefer to skew on the cheap labour or experienced and unusual expertise lacking in Singapore, despite the boast of superior education from local universities compared to other countries.

At the moment, legislation of hiring locals over foreigners is simply an appeasement to remanants of a political support of what is left of original Singaporeans or 3rd gen from the Second World War; those with financial and education continue to leave or encourage their offspring to explore beyond Singapore.

Singapore is generally good for working, but not living in, due to a host of reasons.

Most pay packages tend to be attractive despite reduction and removal of expatriate perks of free housing, private transportation, schooling and so on.

Locals who tend to say Singapore is great are unfortunately those that have already made their riches who now rely on cheap labour to stretch their dollar on passive income that may not track inflation. And those at the opposite end of the spectrum, unable to leave, more likely due to trained behavior indoctrinated by government policy, reinforced by collective peer belief.