Cost and benefits of working in town

I moved recently to a new office in town near Lau Pa Sat from International Business Park, which is in Jurong East. My quality of life has changed drastically as a result of this move and it is meaningful to list out the costs and benefits:

1. Travelling time cut by half. It now takes me 30 minutes (door-to-door) to get to my new office compared to one hour one average. This means I save 1 hour each day. However, because I have class at NTU, it means there are times I may have to take a taxi down and it will costs $30.

2. I find it easier to meet people. As most of my friends work in the town area, there is a higher chance of me meeting them for a quick catch up or even a chance meeting compared to at Jurong. I find that this has helped me reconnect and with it, increase the number of opportunities that were previously hidden.

3. Food cost has gone up. One of the down side of a town location is that a simple lunch fare easily costs $5-6 compared to $4-5. When it rains, my food options get severely limited and the nearby food court costs me $8.


Overall, if I were not doing classes at NTU, working in town is probably one of the better options for most young adults because it helps you connect. I have worked in off center locations before and unless it is close to where you stay, you may be missing out on a lot. There are of course people who work in the yards (extreme west) or airports (extreme east) but these areas are clusters of expertise. 

Should you reveal your pay at the initial job interview?

I was having drinks with my colleagues and one of them shared the experience of a interview at a local statutory board. At the first interview, one of the two interviewers asked for my colleague's current salary. My colleague was very annoyed given that it was just the first round of interview and refused to reveal any figures. Although he felt good vibe coming from the non-probing interviewer due to his technical fit, my colleague was not offered the job.

Why do HR-types and recruitment consultants always ask about your pay? This is because they want to collect data to find out about the market rate (especially recruiters!) so they that the company can manage budgets as well as show their own bosses that they are not overpaying for their hires.

How much are you making compared to your peers?

Something for you to reflect on 2010 in terms of how much money you are making for your job compared to your peers. This is a follow up to the post where we found that most readers here make more than $75,000 per annum.

Things an Employer Should Not Say

Not so long ago, I went for a job interview with a company located at Harbour Front. It was the second time I interviewed with the company, the first when I was a fresh graduate. There was the usual written tests and involving verbal and mathematical ability. It was followed by a panel interview of two – a director and the HR Manager.

Since leaving university two years ago, I consider myself a veteran when it comes to interview. For those leaving school soon, you should always do some research about the company you are interviewing with and try to establish connections. This tells the employer that you are interested in working for them.

But more importantly, you should be able to tell them about yourself. You should be able to tell them about your strengths and weakness, why you are here for the interview and how you feel you can contribute to the team. It would be best if you can give examples from your resume and life experiences.

The interview went on smoothly but the director was very keen on breaking me down. He wanted me to keep telling him what the “real” me would think about certain things and situation. He said he did not want me to give him the politically correct answer. The politically correct answers were answers to the questions I earlier raised, that I have rehearsed very often in front of the mirror.

Salary Poll: 40% Of Readers Make More Than $75k Per Annum

The poll that has been going on for almost a month received lukewarm response. Readers were asked how much they were paid a year including bonuses.

To my surprise, 41% of the 53 who voted made more than $75,000. That works out to be around $5,700 a month if we were to factor in a 13 month component. The full results follow:

Less than $30,000       :           8

$40,001 to $50,000     :           6

$50,001 to $75,000     :           5

$75,000 and above     :           22

I wished the poll could have more field but then it would have become a pay survey, easily obtainable at other websites. Fields I would have included are how many years in the same position, education, etc.

My guess as to the demographics of these 53 readers, are that they are English-speaking. Those that are the highest paid are probably very long into their jobs. Those falling into the less than $30,000 segment are most likely students and fresh graduates.

Anyway, you can try to read this http://timetohuat.sillypore.com/2010/10/09/the-serial-job-hopper/ . The write up talks about how job hopping can be better for the individual in terms of accelerating pay increments and how companies actually condone this practice, while lamenting why staff do not stay.

Are Female Bosses That Bad?

http://www.dailymail.co.uk/femail/article-1302096/Men-best-bosses-Women-just-moody.html

http://www.cxoadvisory.com/individual-gurus/ken-fisher-on-market-analysis/

Read the above. There was apparently a survey of 3,000 people living in the UK and it turns out that employees prefer male to female bosses. In my opinion, given the subjective-ness of the question as well as cultural differences, there is still some room for doubt as to the validity of its conclusion. It is a bit like saying women are bad drivers, but figures actually show that men cause the most incidents. Maybe those who encountered bad female drivers live to talk about it, but not those that met with male drivers who actually caused fatal accidents.

On a related note, there should be a survey of gender relations at work. I was shocked cause once at an interview, the person at the other end asked me how comfortable I was working with women.

Edits

I added another link to a piece by Kenneth Fisher, who some readers should know, form part of my investment philosophy. Take a read too, it is very relevant to almost everyone who thinks they are too clever for the market.