No more Peter Lim of remisier kings. The pathetic take home pay of remisiers that was reported in the news last week, this has been kept under the carpet for some time, is a revelation of a dying profession that once was the envy of many professionals. Gone were the days when remisiers could spend lavishly on their clients and living a high life. The $800 pm is even less than the lowly or uneducated aunties and uncles cleaning tables in the footcourts. The SMRT foreign drivers are earning much more. And the PMET drivers are laughing their hearts out, that they are rich compare to the remisiers. Those earning this sum are now qualified for assistance and monetary handouts from the govt. The Remisier Society or the brokerages should take the initiative to apply for govt assistance for this new poor in the country. Maybe the SGX should start to dip into the contingency fund to help the remisiers tie over this rough patch that does not seem to want to go away.
Many remisiers are professionals by training and experience, some with CFA, finance and post graduate qualifications. Many would have long quitted the industry if not for their age that rules them out from employment. They have become the new breed of ‘chiat pa tan si’ PMETs. They have no where to go and no one to turn to and waiting for the curtain to fall. I would have left too if I could find an alternative job. And to make things look sillier, remisiers have no official lunch break and are expected to work from 9 to 5, just to earn $800 with the market running non stop.
Does anyone know why the industry has hit such a low? Or does anyone really want to know?