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One need to realise that at this moment, although some companies may be hiring, they are unlikely to offer high paying salaries. Even if the company is doing well and could afford high salaries, they would most likely not offer them because they know the job market is flooded with people looking for work. It is a matter of supply exceeding demand, and they would offer the lowest they can possibly get away with. So don’t be conned when you hear of jobs offering fat pay checks these days.

For those who are desperately seeking jobs, you may want to think about your asking price. Knowing that most companies will not offer you a big raise from what you used to earn, you may have to lower or just maintain what your previous salary was. Worse come to worse, you may even need to settle for a job that pays less than what you used to earn. It is better to have that steady income although it is lower, than nothing at all. Agree?

So I wish everyone of us all the best in this tough time and pray that we sail through it without much emotional scars. May we learn valueable lessons along the way, no matter what they are. A negative situation may present positive opportunities and learnings. Lose the fight but don’t lose the battle!

Post from: Health or Money?

If you think the global financial crisis has reached its peak, well no, it’s not quite there. I think we’re far from it still. First it was the banks falling one after another and then the automotive industry followed suit. Soon after, many other industries were laying off workers, most evidently seen in the manufacturing businesses.

Now, the banks and automakers are making another comeback with worse news than before. We thought the US had it all under control with all the huge bailout plans but they don’t seem to be enough. Now, many of these conglomerates are on the verge of going bankrupt.

Domestically, we are also seeing layoffs and there will be more layoffs to come in the coming months, I suspect. Those who are working in MNCs do face quite a bit of challenge now that many of these MNC’s parent companies aren’t doing well in their home ground.

The central bank has announced yet another cut in the overnight policy rate and I believe the banks will soon be lowering their base lending rate as a result of the lower OPR. All these are signs of what’s to come next – a recession.

What’s your plan going forward?

Post from: Health or Money?

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With most of the industries being hit in the financial crisis, lots of people have lost their jobs and hence, a steady income stream. As the gloom sets in for many families, more are feeling nervous with news of impending job cuts to come in Penang.

Technology giants like Dell and Agilent are rumoured to be laying off its staff in the coming months. You can read the full story here on The Star Online. Whilst the government was convincing its people that Malaysia is not that badly hit in the global economic slowdown, we are not hit in the face more than expected.

Let’s hope that these layoffs will not increase the social ills we are seeing in the country. It’s quite a scary place to live in, not knowing when we will be victmised in the most horrifying manner.

Post from: Health or Money?