Jobless Singaporean Turns to Gambling in Desperation

SINGAPORE: A 26-year-old finance professional finds himself trapped in a financial crisis after losing his job in March 2023. He took to social media to voice his frustrations about the difficulty of securing a well-paying job, revealing that he's only receiving offers around S$1,500.

“I've spent the last six years building my career in the banking and finance sector, but after a recent restructuring, I’ve had no luck finding a new position,” he shared on the Reddit platform r/askSingapore. Despite applying across multiple industries, he suspects that his lack of a degree, having only a diploma, is limiting his opportunities.

With bills piling up and the pressure mounting, the man turned to gambling as a potential side hustle upon the suggestion of friends. Regrettably, this decision spiraled out of control, leading him into over S$20,000 in debt. “Instead of alleviating my financial woes, gambling made everything worse," he lamented.

In his plead for advice, he mentioned attempts to reach out to local employment organizations like e2i and the Ministry of Social and Family Development (MSF), but claimed he received no feedback whatsoever. This left him feeling hopeless and searching for alternative solutions.

Mixed Reactions on Social Media

The reactions on social media were somewhat mixed, with many Redditors emphasizing that a diploma holder should earn significantly more than S$1,500. "If you're a Singaporean, you’re worth at least S$2,000 just for contributing to the workforce," commented one user. Another added, "New diploma holders typically start at S$2,500. Companies making offers below that may just be capitalizing on desperation."

On the other hand, some users provided constructive suggestions, urging him to consider further education or professional development to enhance his employability. "Take a degree or certification if possible! Don't complain about affordability; you've already lost S$20K to gambling," one commenter chided.

For those who believe that pursuing a degree may not be feasible right away, alternative job options in the food and beverage industry or part-time roles were suggested as immediate solutions. "While searching for a full-time job, taking on a part-time gig could help you manage expenses and start tackling your debt," advised one Redditor.

Conclusion: A Cautionary Tale

This man's story underscores not only the challenges faced by job seekers in Singapore but also the broader implications of financial distress that can lead to poor decision-making. As the job market continues to evolve, it raises the question: how can individuals better prepare for unexpected career disruptions and avoid the pitfalls of desperation?