Prospects of Corporate Banking & Private Banking - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Prospects of Corporate Banking & Private Banking

Reply
 
Thread Tools
  #1 (permalink)  
Old 17-05-2014, 11:40 AM
Verified Member
 
Join Date: Nov 2013
Posts: 14
Jobs is on a distinguished road
Default Prospects of Corporate Banking & Private Banking

Does anyone know what are the prospects of Corporate Banking and Private Banking in Singapore?

What are the market rates for a fresh grad joining any of these two functions, and the subsequent progression? Also, given a choice, which would you prefer?

I'll appreciate any replies. Thanks.

Reply With Quote
  #2 (permalink)  
Old 17-05-2014, 10:54 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Jobs View Post
Does anyone know what are the prospects of Corporate Banking and Private Banking in Singapore?

What are the market rates for a fresh grad joining any of these two functions, and the subsequent progression? Also, given a choice, which would you prefer?

I'll appreciate any replies. Thanks.
I assume you are a fresh grad? To answer your first question, the prospect for both are good. However, they are totally different in nature. And to the best of my knowledge, they do not hire fresh grads into FO roles.

May I ask what roles were you offered? Or you are aspiring to join corp banking/PB?

Reply With Quote
  #3 (permalink)  
Old 17-05-2014, 11:32 PM
Verified Member
 
Join Date: Nov 2013
Posts: 14
Jobs is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
I assume you are a fresh grad? To answer your first question, the prospect for both are good. However, they are totally different in nature. And to the best of my knowledge, they do not hire fresh grads into FO roles.

May I ask what roles were you offered? Or you are aspiring to join corp banking/PB?
Hi, thanks for your reply.

I'm currently an undergrad, and am aspiring to join corp/private banking. From what I understand, fresh grads are offered roles that assist the actual RM in PB/CB. They'll then takeover as an RM once they have gathered sufficient experience. Nevertheless, even those positions are really difficult to obtain for fresh grads.

Reply With Quote
  #4 (permalink)  
Old 18-05-2014, 12:08 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Jobs View Post
Hi, thanks for your reply.

I'm currently an undergrad, and am aspiring to join corp/private banking. From what I understand, fresh grads are offered roles that assist the actual RM in PB/CB. They'll then takeover as an RM once they have gathered sufficient experience. Nevertheless, even those positions are really difficult to obtain for fresh grads.
I heard otherwise. Nevertheless for corp banking
1. Grad top of your cohort and apply for MA position, you can ask for corp banking as rotation
2. internship/contract, usually at BO. Hope that you perform well to get a prem position and work yourself to FO from there
3. Join Business Banking and progress to enterprise than corp banking.

these are for RM position, investment banker? min get your CFA first

For Private Banking
1. usual route of mass banking then affluent banking(preferably offshore). once you have the experience and the ability to bring HNW customers, you will be considered. otherwise why would they bother entertaining you right?
2. again enter via BO in ops role then hope to transfer into service RM role, then full fledge RM
3. you are born rich and have the connections.
Reply With Quote
  #5 (permalink)  
Old 18-05-2014, 08:51 AM
Unregistered
Guest
 
Posts: n/a
Default Real deal

I'll give u the answer straight.

If u join corp banking as an assistant RM(associate) first, after a few years,
you'll have a good chance of becoming an RM.

If u join PB as an assistant RM aka RO, u will remain stuck in that role. 90% of ROs do not become private bankers simply because no bank will spoonfeed u with their high net worth clients portfolios. The minority who do so are either very lucky, or have proven themselves to be exceptional (for eg. by completing CFA and MFE, which RO rarely possess. Still it's not a guarantee u can switch to PB) You'll have a better chance of becoming PB if u work in banks as priority bankers first doing sales (1 tier lower than PB)

Lastly fyi, Senior corp bankers can switch to PB but not the other way around, reason being corp bankers have r/s with CFOs, CEOs, but private bankers have no relevant corp banking experience including credit analysis, transaction banking etc
Reply With Quote
  #6 (permalink)  
Old 18-05-2014, 10:27 PM
Verified Member
 
Join Date: Nov 2013
Posts: 14
Jobs is on a distinguished road
Default

Hi all, thanks for the insights. They helped me a lot in understanding the two roles from the perspective of an undergrad.
Reply With Quote

  #7 (permalink)  
Old 17-04-2015, 01:59 AM
Unregistered
Guest
 
Posts: n/a
Default

I apologize for reviving a year old thread, but does anyone know what the pay is like for corp bankers in Singapore (base and bonus)?
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Private Banking Salaries Newhere Income and Jobs 80 09-02-2024 10:25 PM
Private Banking Client Services Manager Just another banker Income and Jobs 8 17-05-2019 10:23 PM
Corporate banking blitz Income and Jobs 4 27-02-2014 05:24 PM
Career Choice: Consumer Banking or Business Banking? GS8 Income and Jobs 47 07-11-2013 01:10 AM
Banking for HNWI / Private Banks Hermit Investments and Net Worth 1 10-02-2012 01:50 PM

» 30 Recent Threads
Career as Teacher ( 1 2 3... Last Page)
10,853 Replies, 6,671,423 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,322 Replies, 4,985,049 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,458 Replies, 784,826 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,330 Replies, 1,142,533 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,806 Replies, 1,045,463 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
310 Replies, 369,406 Views
Why Is Having a Google Virtual...
1 Replies, 6,777 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,240 Replies, 3,399,905 Views
JP Morgan ( 1 2 3... Last Page)
199 Replies, 173,491 Views
GovTech ( 1 2 3... Last Page)
5,163 Replies, 2,164,886 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,050 Replies, 440,812 Views
Mining Industry ( 1 2 3... Last Page)
80 Replies, 74,522 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,340 Replies, 4,772,726 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
171 Replies, 309,595 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
680 Replies, 388,842 Views
Compare civil service salary ( 1 2 3... Last Page)
16,343 Replies, 12,458,270 Views
Lawyer Salary ( 1 2 3... Last Page)
21,015 Replies, 10,331,433 Views
ST Electronics ( 1 2 3... Last Page)
3,768 Replies, 1,545,471 Views
Is getting a PMP worth it ?
4 Replies, 7,174 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,729 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,903,587 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,436 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,657,650 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 814,037 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,835 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,325,082 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,828 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,797 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,928 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,739,141 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 04:28 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2