Factual Local Bank Salaries - DBS , UOB , OCBC (A commoner climbing up the ranks)

Originally Posted by Unregistered

Ocbc ED, 15k base and 125k bonus
(In OCBC, ED > MD > MD 1 > GroupMD) late 30s

125K bonus?! Is it normal to get to ED in late 30s?

Any allowance in the 15k base?

Originally Posted by Unregistered

125K bonus?! Is it normal to get to ED in late 30s?

Any allowance in the 15k base?

There are a few, but age is never a factor for promotion. As of last year, OCBC doesn’t avail allowance, it’s converted to base pay.

Not sure that any local or foreign banks can pay such bonus.

Originally Posted by Unregistered

There are a few, but age is never a factor for promotion. As of last year, OCBC doesn’t avail allowance, it’s converted to base pay.

Not sure that any local or foreign banks can pay such bonus.

I doubt foreign banks could pay such bonus. Are you in front office or emerging tech (GenAI, cyber) function in OCBC?

how is it like being rm in uob? considering joining, can make money?

Originally Posted by Unregistered

how is it like being rm in uob? considering joining, can make money?

can make money, provided u can make money for the bank..

ops/compliance peeps in dbs - how much bonus did you get this year?

[LuisDiaz]

Originally Posted by Unregistered

Ocbc ED, 15k base and 125k bonus
(In OCBC, ED > MD > MD 1 > GroupMD) late 30s

For ED, 15k base seem low. probably that why u get 125k bonus to compensate ur base

[LuisDiaz]

Originally Posted by Unregistered

This is my first local bank. Have worked in foreign banks throughout my career. I did try to ask for 20% when I quit foreign banks but the local bank lowball me to accept 15% increment with the assurance that local bank bonus usually quite good. I just want to highlight that since 2020, local banks have increase staff pay significantly to match foreign bank pay and adjust for inflation at least for dbs and UOB. Many staff experienced a 25-35% increase in pay during this period. U can ask around dbs and UOB friends whether they gotten pay adjustment. I am not lying. My monthly salary has increased by 40%. My friends who worked in foreign banks are still getting to standard 3% increment and risk of layoff with low bonus. Where else the local bank staff are getting higher and higher bonuses due to record high profits.

i can affirm this as well. switch to local bank in 2021 after almost 15 years in foreign bank. since then gotten 12% increment on my first year then 10% on my 2nd year and 4 months plus bonus for both year. And i wasn’t promoted.

I’m getting 12k+/mth as vp1 in uob. Can check if I’m close to ceiling and what is the vp2 salary range?

Originally Posted by Unregistered

This is my first local bank. Have worked in foreign banks throughout my career. I did try to ask for 20% when I quit foreign banks but the local bank lowball me to accept 15% increment with the assurance that local bank bonus usually quite good. I just want to highlight that since 2020, local banks have increase staff pay significantly to match foreign bank pay and adjust for inflation at least for dbs and UOB. Many staff experienced a 25-35% increase in pay during this period. U can ask around dbs and UOB friends whether they gotten pay adjustment. I am not lying. My monthly salary has increased by 40%. My friends who worked in foreign banks are still getting to standard 3% increment and risk of layoff with low bonus. Where else the local bank staff are getting higher and higher bonuses due to record high profits.

This is true.

DBS has been doing lots of pay restructuring since 2022. In fact they have a popular tech program called DBS SEED in which they give SEEDers 5.5k starting, reaching up to 6.8k after 2 years completion, bonus is over 3 months.

There's also almost no layoff unless you do stupid nonsense like insult SG flag or say PAP sucks etc. If you work like a normal civilized human being, you'll never get laid off.