12/24/2012

Remisiers are low income earners

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?

29 comments:

Anonymous said...

Punggol East SMC.
I hope remisiers & their families & relatives will know what to do.

Vote them out.
Vote them out.
Vote them out.

Anonymous said...

RB. They are driven by greed into the profession. In the hey days, most remisiers made lots of money but they did not see whats coming. Technologies and economic environment changed the status quo. They cannot blame anybody. It is their choice. What do you think?

oldhorse42 said...

It must be years ago that I trade through a broker or remiser. Now I trade through internet or smart phone. Cheap, fast and reliable and definitely better.

Chua Chin Leng aka redbean said...

The day the remisiers quit the stock market industry, the stock market will collapse and bring along all the stocks and other supporting industry.

Our market is just too small, not enough investors. The changes to the trading system is the cause of the demise of the industry.

Anonymous said...

Remisiers - RIP!

Anonymous said...

They should have anticipated that this day will come and make contingency plans for an exit strategy.

If they had applied the same foresight they did on the securities they advise their clients, things could have been very much different.

Talking about advice on securities. Who needs them when there are tons of info on the net? Besides, some remisiers' knowledge and info are as stale as overnight bread.

They are no better than order takers who lags far behind in terms of knowledge. Many are in it because they think it's easy money. It was, in the days of the so called Remisier King.

Not anymore.

My advice is just to pack up and ride quietly into the sunset.

The next to go would be the brokerages. Who needs a brick and mortar office to house all the dead wood when a virtual one will do?

Unemployed remisiers can be a labour resource pool for food courts and hawker centres.

That I agree.

And even then, not for long because patrons are "encouraged" to return their trays. They may probably need to wipe the tables as well before they leave.

agongkia said...

Be a remisier at the right time and one can choose to marry any young materialistic Lui Bin swee mei mei that one likes ,even one got a piggy face like me.If remisier now earn 800 pm,time to work as a part time sookoority guard to supplement their income.
They dun need high IQ to know that.Good news for the industry to hit such a low.I know of many sombong yayapapaya remisier,look high with tie and kehlengkehseh when they are doing well.Time to see them with tie in sookoority uniform.

Anonymous said...

Remisier sounds like Le Misery.

My brokerage dealer got demoted to Remisier and 6 months later got kicked out.

He is now a full time male nurse in a private nursing home.

Poor sod.

Chua Chin Leng aka redbean said...

Many remisiers are still comfortable even if they leave the industry. The people that will be badl affected are the high salary backroom staff and also the investors who have bought shares. The stock market will go into critical ill list. No action, no activity and the value of investments vaporised.

Anonymous said...

Enjoy and relac lah, now that they had made their piles.
Dont let the old man call you stupid, only know how to make money, noe no how to spend them. Also cannot take to another world.
Go Holland or Holland Village, visit your relatives and friends. And if you dont have good relationship with them, go Gaylang to watch the world go by. The money you made have no value to your living.
Imagine yourself having no family feeling, no friend, no hobby and only live to work. The old man will laugh at you till he stops breathing.

Anonymous said...

More PAP - Michael Palmer Jokes
++++++++++++++++++++++++++++
There is now a new sign over every urinal in the PAP Headquarters Building.
'Your PAP career is in your hands".




Anonymous said...

Red bean, alamak are u a remixer? No wonder you so free can blog everyday lar hehe

Anonymous said...

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http://www.youtube.com/watch?feature=player_embedded&v=aq1Ln1UCoEU

Money & Speed: Inside the Black Box is a thriller based on actual events that takes you to the heart of our automated world. Based on interviews with those directly involved and data visualizations up to the millisecond, it reconstructs the flash crash of May 6th 2010: the fastest and deepest U.S. stock market plunge ever

I don't invest in anything as i m living hand to mouth ... h

Hear what the experts say about the stock market at the end of this documentary ... very in insightful

Bengster

Anonymous said...

Life is like that. When they were raking in the dough during the good old days, everybody envy remisers and many wanted to become remisers. Same with any other profession.

As they say, every day is not a Sunday. Otherwise, how could others become rich if all the dough is being made by one particular group of people in a particular profession all the time. The wheel of fortune spins around.

Anonymous said...

Just quit & do other thing lah.

Anonymous said...

RB, most people these days trade using state owned trading website. Remisiers are like typists - their usefulness have faded.

Anonymous said...

Remisier should become dishwashers at sakae sushi. They are paid $3K per month whereas remisiers get $800 pm.

dotseng said...

Just dropped in to wish you merry christmas and a happy new year chin leng.

Darkness 2013

I stuck in the field. I shouted at the heavens. The stars came out just then.

Chua Chin Leng aka redbean said...

Merry Christmas to you too Darkness, and everyone here.

You are one week ahead of time.

Anonymous said...

Those old time remisiers shld have made tons of money even if they are not billionaires. Some wud be in their twilight years. If money is not enuff to them, what can we describe them?
And for those young one that are in it lately, there are 5k taxi driving, 3k dishwasher, 1.5k carwasher, security jobs to go for. Of course lah, most are 12hours or longer, six days a week. Not 8.30 to 5.00 five days week raking in thousands during the heydays.
The question is why are these loaded folks still looking for more money when their peers in the third and fourth world wud have retired for years.

Chua Chin Leng aka redbean said...

It is not how much you earn but how much you have to spend. In many countries, you don't need half a million or a million to have a decent roof over your head. A good car costs only $40k not $200k. Everything is cheaper than this outrageous Sin city. They don't go bankrupt when admitted to hospital. They don't need minimum sums in the CPF savings to retire.

Anonymous said...

In other words, in other countries the government do not hold hostage the people's goddam blood and sweat coffin money.

How sickening it can be for someone in Sinkieland to work a lifetime, hoping to have a sum of money to enjoy his retirement, being told the money will be given back to him in trickles.

Enough is enough. Singaporeans, please do some soul searching and do the correct thing, if you have still not done so, when 2016 comes.

Anonymous said...

But why do we need to worry for them? When they made millions, that does not benefit us.

It is the same with Temasek/GIC. With average returns of 17% per annum, what does citizens get? They just hijack more of our money in CPF to gamble, resulting in more of our money being held captive in perpetuity.

Anonymous said...

When market collapses, don't blame SGX or MAS. It's those earning millions and not doing anything about it. 10,000 jobs at stake. Lay off is already starting.

Anonymous said...

Hi All,

I am a remisier....please look at the market proper. When remisier are making so low...it is a sign the market is drying up especially the pennies...logical?

Please trade with care and caveat emptor.

Small Remisier

Anonymous said...

There are still remisier out there making tons of money lah! It's just the timing and type of client base one have...of course, coupled with the good intell sources, remisier still have first mover advantage as compared to dumb money out there in the market...just my 2cents worth...

Anonymous said...

There are still remisiers out there making tons of money lah! It's just the timing and type of client base one have...of course, coupled with the good intell sources, remisier still have first mover advantage as compared to dumb money out there in the market...just my 2cents worth...

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