Support Site for The Unemployed & Underemployed
Monday September 22nd 2014

Jobless and single generation Y female PMET: “My aim is to achieve financial freedom…and get a PR as a backup plan.”

 

Transitioning: Hi Irene, thanks for taking time to answer our online questionaire, being someone from the Generation Y age group,  do you feel that opportunities are now somewhat muted as both the babyboomers and Gen X have already gained a strong foothold in senior positions in the public and private sectors?

Irene: Actually I think it is fair as the babyboomers and Gen X already have gained solid working experience and networking as some senior management positions in the corporate sector requires the above.

My aim is to achieve financial freedom instead of climbing the corporate ladder as you are just a number on the payroll regardless of the position in the company. 

Transitioning: I have heard from the Gen Y graduates that life is getting tougher here as they have to compete not only with their peers but also foreign talents, do you agreed with their views? Why so?

Irene: In a way, I do agree. Some foreign talent are just as well-qualified as the locals but their pay is lower than locals. If not for the quota for employment locals being implemented recently, I think more companies prefer to hire foreign talents.  But at the same time, I tried to view it on a more positive note as some foreign talent also bring in skills which locals are lacking. 

Transitioning: After seeing so many record breaking divorces in our country for the past few years, does this statistic frighten you from tying the knot with someone?

Irene: Other than the statistics, I am actually more affected by my parents’ divorce. I do admit in the beginning years after parents’ divorce, I am scared of marriage. However as I grow older, I do really wish to share my joy and sorrows with someone. So just keeping my option open.

Transitioning: What do you think is the greatest obstacles facing marriages right now?

Irene: I think it is financial woes. The cost of education for children is really high and the property prices has escalated recently. 

Transitioning: Many Gen Y have also told me that the work culture here is rather stifling, you work from day to night and during weekend you try to rest and prepare for the next week of onslaught – do you agree with them?

Irene: Yes. Our working hours are quite long as compared to some countries like Australia. Furthermore, our country is quite small and there is nowhere for us to go during weekends to retreat and recharge.

Transitioning: We have read of binge drinking among the young people here, what is your opinion on this and is this a growing trend among people that you know of?

Irene: I am sorry that I can’t answer this question as I have passed the stage of clubbing and drinking. 

Transitioning: There is also this growing feeling that the Gen Y population here belongs to the strawberry generation and that they are not as tough as the babyboomers and Gen X, do you think so?

Irene: In a way, yes. Most of the Gen Y population are university graduates and they have the expectation they are entitled to certain rewards from their jobs. Thus they lack the fighting spirit to set up their own business and make it work.

Transitioning:  What do you think has really change after watching how your parents have toiled and brought you up – do you think this spirit of  familial blissness may be missing in the younger set of families right now?

Irene: During my growing up stage, my mum actually work part time to take care of the family and took up the parenting duties on her own. From the current trend, I observe that most of the parenting duties had been left to the grandparents or to the maid as both the parents are working. I guess this contributes to the lack of familial blissness. 

Transitioning: Many young people I met dream of emigration as a way out of this stressful environment, do you have the same thoughts?

Irene: Not really as my family and friends are here. However, I may try to gain PR in other countries as a back-up plan.

End of interview and thank you.

_______________

Editor’s note: Irene is looking for work  now and has a accounting degree.

Reader Feedback

9 Responses to “Jobless and single generation Y female PMET: “My aim is to achieve financial freedom…and get a PR as a backup plan.””

  1. jj@39 says:

    E2i has just launched a Place-and-Train Accounts and Audit Professionals programme trying to lure ppl to become accountants.

  2. David says:

    Read the comments from this forums for e2i and CPA Australia launch new accounting programme

    http://forums.hardwarezone.com.sg/degree-programs-courses-70/e2i-cpa-australia-launch-new-accounting-programme-4046054.html

  3. the letter z says:

    today i did something i thought i will never do for the rest of my life. i stepped out of my house and registered to become a cny helper at the supermart. its a temporary assignment and with regards to paid wise is only a fraction of my previous salary. to some of you out there is a total humiliation, but i reminded myself i was bornt a spoilt brat i reap what i sow. now i am really old, even the recruitment agent gives me a weird look. you know its my pride the self esteem and the whole face thingy that is holding me back and constitutes what i am now. i thought i was way more clever than others i am achieve more i deserve better. all these have changed. i don’t give a shit about criticisms and mockery anymore. they can call me old weirdo or useless or a stuttering mule. i don’t mind anymore. i just want to live life by the minute, immerse myself in the festive mood even if the repetitive music can be annoying. i want to be able to smile again. really have been trying…

  4. sal says:

    Its good to have a backup plan, most country have dual citizenship…..its about globalization

  5. J Y says:

    The e2i programme is only for those without accounting-related qualifications or accounting experience. After the CPA course, the pay is at least $2300. For Irene’s case, she cannot enrol for it since she already has an accounting degree. Anyway, she can be an accountant for higher than $2300 even without the CPA Australia cert.

    Most people in accounting/ audit line always work late almost everyday. I wonder why the employers don’t recruit more people to share the heavy workload.

    However, in shopping malls, I always see sales assistants idling, esp during weekdays. Why is there no even distribution of manpower needs here? Maybe the sales assistants can be converted to account assistants under this new programme.

  6. Anon says:

    The e2i-CPA Oz conversion program is targeted at desperate degree holders who want to switch industry to accounting area. Take note that only degree holders are eligible to apply for this training program.

    The sponsorship of this program only provides certificate-level basic accounts training & qualification, barely to the standard of local poly accounting diploma. In terms of accounting subject domain, the local diploma curriculum is actually more intense and complete. They (e2i & employers) are counting on applicants being more mature, and having proven to have basic intelligence by virtue of having a first degree.

    Also, you need at least 1.5 yrs working experience. This suggests that they (e2i and employers) are targeting those below 30 yrs old, since only such a low level of experience hurdle is required.

    In order to get into this conversion program, you need to go thru interviews and be accepted by a company willing to hire & co-sponsor you to be accounts staff.

    Be aware that the training is mainly low-level basic accounting and book-keeping. But becoz e2i mandate minimum salary of $2.3K after you passed the course, hiring companies will probably impose higher expectations on you and give you more work and duties.

    Be prepared for long working hours, late nights, and many burnt weekends. If you don’t upgrade, your salary will most probably never exceed $3.5K even after working 15 years.

    There are LOTS & LOTS of foreigners with accounting degrees being hired as basic accounts clerks getting $2K salary (minimum for S-Pass).

    If you want to get professional accountant / CPA type of salaries, you will need to spend tens of thousands of dollars on your own to get recognised accounting degree and go for CPA qualifications.

    Even so, there will be plenty of competition. Those accountants with high pay are mainly those with 1st class or 2nd Upper honours from local Unis or well-known and respected foreign Unis, and they managed to get into Big 4 accounting firms or large banks as 1st job in kick-starting their career.

    • J Y says:

      How did you manage to get so much inside information about this course and its career prospects? Do you mean that even after successfully completing the course, the person can only be an accounts assistant and not an accounts executive? Is it similar to CAT level?

      Last Dec, e2i also had a CAT course for ‘O’ level holders, but the pay is a few hundred dollars lower than that for CPA Australia.

      The CAT course takes more than a year, while this CPA course takes 6-8 months. So, why is there a difference in pay?

  7. jj@39 says:

    Strange programme. Why is it CPA Australia n not CPA Singapore?

    Only degree holders are eligible to apply for this training programme but not non-degree holders.What a elitism programme.

Leave a Reply