MTC HRD Thread

[mariejoy]

Good afternoon guys. May question lang ako. Pag nag resign ba ang isang employee at ang effectivity ng resignation is on the 15th, makukuha pa ba nya yun last salary nya on that same date? kasi pay day is every 15th and 30th or she has to wait for 1 month para sa releasing ng last pay and 13th month?

 

tnx

[council]

Good afternoon guys. May question lang ako. Pag nag resign ba ang isang employee at ang effectivity ng resignation is on the 15th, makukuha pa ba nya yun last salary nya on that same date? kasi pay day is every 15th and 30th or she has to wait for 1 month para sa releasing ng last pay and 13th month?

 

tnx

 

no. the employee will have to wait as that amount will be included in the final pay.

[Dr Love]

Good afternoon guys. May question lang ako. Pag nag resign ba ang isang employee at ang effectivity ng resignation is on the 15th, makukuha pa ba nya yun last salary nya on that same date? kasi pay day is every 15th and 30th or she has to wait for 1 month para sa releasing ng last pay and 13th month?

 

tnx

 

No because this salary becomes part of your final pay which is released upon completion of your clearance. Normally this take anywhere from 2weeks to 6 weeks depending on the company procedure/policy on this matter.

[jombratero]

Hi everyone, got a friend who got accepted in Finance Executive of an insurance company. They have a basic salary plus commissions on an accredited bank client who will avail insurances. They will report on a branch of the said bank, and cater to the clients referred. Anybody who has the same work or know someone of the same field? What are the pros and cons of this type of work.... I want to give an advice before she resigns from her current work... Thanks!

[bruiser]

hi people, i do not usually do this but i guess my current situation warrants such so here goes:

 

i currently work in a medium sized commercial bank handling investment research and evaluation. i have been wanting to leave this company since the culture is not really geared towards professionalism but more on patronage politics. there have been a couple of opportunities that came my way but due to bad timing, the opportunities never pushed through. however, there is one financial institution (a medium-sized one as well...) which provided an opportunity for me. i was interviewed by the group head (a VP) 3 weeks ago and from what i have gathered, the feedback on me has been very positive. i am now awaiting for a final interview with the sector head (an EVP) and if i should hurdle that then i am more or less on board.

 

the problem is this, the group head told me that the week immediately following my interview was supposed to be hectic and that they will get back to me with an interview schedule after two weeks. the two weeks lapsed last week and up to today, there is still no call from them regarding the schedule. my inside sources tell me that the sector head has a very tight schedule and it is very hard for them to set a meeting between me and him. while i am comforted by the fact that feedback on me has been good a part of me remains anxious to find out the real score.

 

as such my question is whether it would be adviseable for me to follow up with the group head or remain patient...if i call to follow-up will it affect my application, will the group head be turned off? i actually sent her a text message this morning in the pretense of thanking her for the meeting 3 weeks ago and that i look forward to my meeting with the sector head. but no reply -- i assume that she is busy since wednesday is usually their executive committee meetings.

 

honestly i am looking forward to joining this institution, while they are currently not yet in the best of shape financially, their near-term to long-term prospects are good considering that they already have new investors (foreign investment banks, foreign fund managers and a large european bank) on board as well as a new president and ceo. also, the said bank has a viable long-term direction which they intent on following, that is why they are in the hunt for new people to fortify their ranks...need your advise on this matter please. thanks again

[bruiser]

Hi everyone, got a friend who got accepted in Finance Executive of an insurance company. They have a basic salary plus commissions on an accredited bank client who will avail insurances. They will report on a branch of the said bank, and cater to the clients referred. Anybody who has the same work or know someone of the same field? What are the pros and cons of this type of work.... I want to give an advice before she resigns from her current work... Thanks!

hi bro., i am not in the hr profession but i am in the banking industry so i may be able to provide some advise. the nature of the work that your friend will be entering into is called bancassurance wherein a universal bank will enter into a tie-up with a life/non-life insurance company to tap their insurance products as a cross-selling instrument to their existing clients. what will happen is that your friend will be assigned to a particular branch and he/she will source the clientele from the clientele of the branch. the potentials are good since your friend will be hitting two birds with one stone - clients from the branch and clients that were developed by him/herself...while your friend will be reporting to the bank branch, he/she will remain an employee of the insurance company and as such will report administratively and functionally to the insurance company.

[jombratero]

hi bro., i am not in the hr profession but i am in the banking industry so i may be able to provide some advise. the nature of the work that your friend will be entering into is called bancassurance wherein a universal bank will enter into a tie-up with a life/non-life insurance company to tap their insurance products as a cross-selling instrument to their existing clients. what will happen is that your friend will be assigned to a particular branch and he/she will source the clientele from the clientele of the branch. the potentials are good since your friend will be hitting two birds with one stone - clients from the branch and clients that were developed by him/herself...while your friend will be reporting to the bank branch, he/she will remain an employee of the insurance company and as such will report administratively and functionally to the insurance company.

 

 

Thanks bro! And one last thing, she told me what is the insurance company's offer, the basic is quite lower compared with her current work, but i believe the commissions will be the key of making good money on her work... do you have any idea how much are their commissions? The one who interviewed her did not discuss anything about commission rates... I guess it might be smaller compared to insurance agents since they have basic salaries and they are already assigned in an area that has captive market...

[bruiser]

Thanks bro! And one last thing, she told me what is the insurance company's offer, the basic is quite lower compared with her current work, but i believe the commissions will be the key of making good money on her work... do you have any idea how much are their commissions? The one who interviewed her did not discuss anything about commission rates... I guess it might be smaller compared to insurance agents since they have basic salaries and they are already assigned in an area that has captive market...

It is expected that the basic salary is lower because she is expected to earn more from the commissions. Commissions are usually based on the prevailing market rate because bancassurance agents are no different from the regular agents, the only advantage is that they have the luxury of more referrals since they have an arrangement with a particular universal bank (not really a captive market...but close to it). Kailangan pa din bumanat ng buto kung baga, but the effort required in soliciting new business is not as extensive as if when you are a regular agent. But definitely, the commission rates will be based on the prevailing industry standards. Nonetheless, I would advise your friend to ask for the actual commission rate to ensure that she is not being shortchanged for her efforts and that her transfer there would be worthwhile. Good Luck to her...

[Dr Love]

Hi Bruiser,

 

The thank you text to the VP would be enough. You should not go directly and ask regarding your next interview. The best person to approach now is the bank's HR Department who I would assume was the one who processed your application and the first to interview you. They are in a better position to follow-up your interview schedule since its their work to fill-up the vacancies in their company. Give them a call and tell them of your concern so that you would get a better picture of your situation. Let me reiterate the word CALL. Please refrain from simply texting them about your query.

 

Hope that helps! :thumbsupsmiley:

hi people, i do not usually do this but i guess my current situation warrants such so here goes:

 

i currently work in a medium sized commercial bank handling investment research and evaluation. i have been wanting to leave this company since the culture is not really geared towards professionalism but more on patronage politics. there have been a couple of opportunities that came my way but due to bad timing, the opportunities never pushed through. however, there is one financial institution (a medium-sized one as well...) which provided an opportunity for me. i was interviewed by the group head (a VP) 3 weeks ago and from what i have gathered, the feedback on me has been very positive. i am now awaiting for a final interview with the sector head (an EVP) and if i should hurdle that then i am more or less on board.

 

the problem is this, the group head told me that the week immediately following my interview was supposed to be hectic and that they will get back to me with an interview schedule after two weeks. the two weeks lapsed last week and up to today, there is still no call from them regarding the schedule. my inside sources tell me that the sector head has a very tight schedule and it is very hard for them to set a meeting between me and him. while i am comforted by the fact that feedback on me has been good a part of me remains anxious to find out the real score.

 

as such my question is whether it would be adviseable for me to follow up with the group head or remain patient...if i call to follow-up will it affect my application, will the group head be turned off? i actually sent her a text message this morning in the pretense of thanking her for the meeting 3 weeks ago and that i look forward to my meeting with the sector head. but no reply -- i assume that she is busy since wednesday is usually their executive committee meetings.

 

honestly i am looking forward to joining this institution, while they are currently not yet in the best of shape financially, their near-term to long-term prospects are good considering that they already have new investors (foreign investment banks, foreign fund managers and a large european bank) on board as well as a new president and ceo. also, the said bank has a viable long-term direction which they intent on following, that is why they are in the hunt for new people to fortify their ranks...need your advise on this matter please. thanks again

[bruiser]

Hi Bruiser,

 

The thank you text to the VP would be enough. You should not go directly and ask regarding your next interview. The best person to approach now is the bank's HR Department who I would assume was the one who processed your application and the first to interview you. They are in a better position to follow-up your interview schedule since its their work to fill-up the vacancies in their company. Give them a call and tell them of your concern so that you would get a better picture of your situation. Let me reiterate the word CALL. Please refrain from simply texting them about your query.

 

Hope that helps! :thumbsupsmiley:

thanks for the advise Dr. Love. you will be glad to know that after i posted my initial concern, the group head replied to my text and said that they are still in the process of scheduling my interview with the EVP since he is quite busy nowadays and his is first interviewing candidates for branch managers since that is the priority. nonetheless, i was given the impression that i am not being forgotten. nonetheless, there are some other opportunities that are cropping up and this has caused a significant reduction in my anxieties. thanks again for the advise Dr. Love and i will definitely update you on what is happening with me...

[Larry]

question about last/final pay

 

HR Gurus,

 

I'd just like to know what's included in the final pay, because from what I understand here's what's supposed to be in it:

 

- pay from your last few days at that job (i.e. the last few days that wasn't included in the last cutoff)

- pro rated 13th month

- tax refund

- unused SL and VL

 

another question is, is your employment status (probationary vs. regular) have any bearing on what constitutes the final pay?

 

because I have a feeling that my last employer is trying to screw me over this. From what I've heard they're not including the pro rated 13th month, and the tax refund. I just want to be ready with a response should they try to pull something like this.

 

Thanks in advance.

[linux_distro]

Sirs,

 

What executive search outfits can you recommend? How much do they charge?

 

Thanks.

[Dr Love]

Hi Larry,

 

You basically have captured what are the things that goes with your final pay. However as far as the tax refund is concerned, the later the part of the year you leave the company the smaller it gets. As for the 13th month pay, if you have atleast worked for 1 month with the company, you are entitled to it pro-rated. Regarding the question on whether your status affects your final pay, it does in terms of those benefits that has monetary equivalent and only given to regular employees like vacation and sick leave conversions.

 

Regards!

 

question about last/final pay

 

HR Gurus,

 

I'd just like to know what's included in the final pay, because from what I understand here's what's supposed to be in it:

 

- pay from your last few days at that job (i.e. the last few days that wasn't included in the last cutoff)

- pro rated 13th month

- tax refund

- unused SL and VL

 

another question is, is your employment status (probationary vs. regular) have any bearing on what constitutes the final pay?

 

because I have a feeling that my last employer is trying to screw me over this. From what I've heard they're not including the pro rated 13th month, and the tax refund. I just want to be ready with a response should they try to pull something like this.

 

Thanks in advance.

[Dr Love]

Nowadays, most search outfits has their specialties in terms of the industry that they are good at. As for rates, the lowest you will normally find is 15% of the guaranteed annual compensation of the candidate they placed (all monetary benefits accruing to the candidate hired are included in the computation like guaranteed bonus, etc.).

 

Sirs,

 

What executive search outfits can you recommend? How much do they charge?

 

Thanks.

[vball8]

Help! My computer has virus. Can you recommend repair person/shop who can help me?

 

I am from Paranaque. And I will appreciate if you can give contact person and number who can repair my computer.

 

I am willing to go to makati, mandaluyong, laspinas or wherever.

 

Thanks.