Monetary Authority of Singapore
3.4 of 5 27 reviews
www.mas.gov.sg Singapore, Singapore 1000 to 5000 Employees

Monetary Authority of Singapore Reviews

Updated Apr 15, 2014

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3.4 27 reviews

                             

100% Approve of the CEO

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Ravi Menon

(15 ratings)

79% of employees recommend this company to a friend
27 Employee Reviews
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The work is interesting only 50% of the time

Associate (Former Employee)
Singapore (Singapore)

I worked at Monetary Authority of Singapore full-time for more than a year

Pros1. You have a lot of power over companies you regulate
2. You get respect
3. Your boss listens to you (it's built into the system how this works)

You get quite a few opportunities for leadership. You are essentially leading your own project most of the time. If you do well, you get better projects and more responsibility.

Some projects are very interesting and if you prove your smarts the organization is very supportive and will let you work on what you like.

Work life balance is amazing. Organization is quite innovative and stable in its thinking. You get to work with very smart but still humble people.

Cons1. Takes very long to get promoted
2. Compensation is disappointing compared to the rest in the financial industry. It does not create much incentive to work hard. Bonus is largely standard.
3. Work can be drab sometimes but all organizations have this.

Advice to Senior ManagementBonus should be more flexible. Intrinsic motivation is good but it's not a good feeling to know that you earn very little compared to the people you regulate.

Yes, I would recommend this company to a friend

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Associate Director

Anonymous Employee (Former Employee)

I worked at Monetary Authority of Singapore full-time

ProsStable organisation with a great MD who cares about the organisation and the workforce. There are nice and caring people managers around the organisation.

ConsBureaucratic processes. People managers are generally very busy with their huge portfolios, more time could be spent on staff development.

Yes, I would recommend this company to a friend

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Fun place to work at, but you can't eat fun

Anonymous Employee (Current Employee)
Singapore (Singapore)

I have been working at Monetary Authority of Singapore full-time for more than 3 years

ProsMade many great friends in my first few years here, which will go a long way in your career. Work life-balance is excellent, with many staff having flexible working arrangements, and great, understanding bosses. Lots of extra circular activities you can participate in. It is a one-of-a-kind organization that will give you exposure in handling important projects, and you get to interact with fairly important people and directly influence policies. Most of my co-workers are extremely smart people, and pleasant to work with/for. Great for (1) slackers, (2) people who are not motivated by money to work in, since the compensation difference between low performers and moderately high performers is as low as 2-3 mths most of the time. Also great for people who get into the non-core departments, since you're equally compensated. Why work so hard?

ConsCompensation is just sad, for the calibre of the people here. Many high-calibre people leave the organization early, and many are breadwinners of the families, which means there are more females working here. The pay to work ratio is bad especially for many team leaders and middle management. Lots of people will leave for better comp when the economy/job market turns.

Advice to Senior ManagementIncentivize high performers to stay by widening the comp range, otherwise your best people in junior ranks will never stay and there will be a dearth of capable people to promote. Also, a 75 percentile pay benchmark to the industry does not mean anything when each and every department should be benchmarked to their industry peers, not grouped together. This only means people working in "lesser" departments gets overpaid while those in core functions are underpaid.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Overall good place to work

Assistant Director (Current Employee)
Singapore (Singapore)

I have been working at Monetary Authority of Singapore full-time for more than 8 years

ProsGenerally good work life balance. The pay is quite decent for the amount of work and stress. Generally do not have to work overtime too often. If you are willing to work hard, there are good career opportunities.

ConsMay take a longer time to be promoted through the ranks because the structure is quite flat. Also the medical benefits are slightly horrific. No hospitalisation benefits, so you need to have your own insurance coverage.

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Great working environment with nice colleagues

Assistant Director (Current Employee)

I have been working at Monetary Authority of Singapore full-time for more than 5 years

ProsGood working environment, reasonable hours, friendly colleagues

ConsScope of work tend to be routine or stale after a while, performance recognition framework not transparent

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Enriching, friendly and fair working environment

Assistant Director (Current Employee)

I have been working at Monetary Authority of Singapore full-time for more than 5 years

ProsCapable and strategic senior management
Good work-life balance
Friendly culture, little politics
Rotation opportunities across different arms of the organisation
Competent colleagues who work hard and deliver

ConsRoles are generally specialised across most of the organisation; difficult to see the broad picture as a young officer. Must be patient in learning, and in acquiring exposure.

Advice to Senior ManagementIt can be demoralising when colleagues keep leaving for banks. Stronger employee engagement and staff retention initiatives would be very helpful, and will help employees stay on feel appreciated.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Culture

Assistant Director (Former Employee)
Bugis (Singapore)

I worked at Monetary Authority of Singapore full-time for more than a year

ProsFamily Oriented, Work Life Balance

ConsLong meetings and lots of writing to do

Advice to Senior ManagementNil

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Value staff career and development to retain talented personnel who are committed to stay for the long run

Assistant Director (Current Employee)
Singapore (Singapore)

I have been working at Monetary Authority of Singapore full-time for more than 3 years

Pros- HR policy of flex-working hours
- Work-life balance (for those who do not aspire to clock in overtime)
- Generally helpful colleagues who seldom rarely back-stab
- Management shared that pay structure is within 75 percentile of industry
- In house training academy
- Sense of awe from peers knowing that you are working for the Regulator
- Strong sense of organisational mission

Cons- Limited focus on the development of staff career and development as Management mostly nurtures staff who are Scholars (assessed to be more proactive and of course after a natural selection basis are the smarter ones)
- Disconnected Mid and Senior Management
- Staff are expected to be a know-it all when there is limited exposure to the industry
- Work involves a lot of writing and/or trying to piece things to make sense for the bosses
- Given the nature of the hierarchical structure, significant waiting time for bosses to approve next step actions

Advice to Senior ManagementThere is indeed a better sense of work-life balance in the organisation, in comparison to other organisations, which is encouraged by the Management. However, there is limited focus on staff career development for those who are not amongst the brightest, but who are committed to stay on for the long term. Perhaps management could rethink staff career development and compensation to retain talented and experienced staff to reduce brain drain.

Yes, I would recommend this company to a friend

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A place to learn and grow

Anonymous Employee (Former Employee)

I worked at Monetary Authority of Singapore

ProsGood training and learning facility
Colleagues are generally nice and of high calibre
The work can be intellectually stimulating

ConsSenior management is not serious about work life balance
Performance assessment is not transparent
Some work is quite mundane

Yes, I would recommend this company to a friend

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Good exposure, but not everyone's cup of long term tea

Anonymous Employee (Current Employee)

I have been working at Monetary Authority of Singapore full-time

Pros1. One of the financial services regulators with the widest regulatory responsibilities, so employees get broader range of exposure.
2. Willing to rotate employees across various functions for cross-training.
3. Work-life balance is generally ok, but can vary across departments depending on time-sensitivity of function and approach of leadership.
4. Good credentials for next job.

ConsHigh turnover and being quasi-governmental, career progression for senior officers tends to be limited. Compensation increases for senior staff tend to taper off so more financially oriented officers tend to leave for private sector financial services opportunities.

Advice to Senior ManagementShould value employee longevity more, since there is no replacement for institutional knowledge/memory

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Glassdoor is your free inside look at Monetary Authority of Singapore reviews and ratings — including employee satisfaction and approval rating for Monetary Authority of Singapore CEO Ravi Menon. All 27 reviews posted anonymously by Monetary Authority of Singapore employees.