How much are you earning per annum?

Originally Posted by Unregistered

Banker. Relationship manager. Director level. 11 years banking sales experience. Degree in Banking and Finance. 1st tier foreign bank for the last 7 years. Doing very well on job. Im a tough cookie.

Basic SGD135K
Commission SGD 250K- SGD 350K

This year projected SGD550K pa
Last year total about SGD450Kpa
Previous year total about SGD400Kpa
2009 about SGD350K
2008 about SGD300K
2007 SGD200K
2006 SGD150K
2005 SGD110K
2000 - 2004 V v stressful, long hours, no life sale position with local bank SGD50K-SGD100K

Lots of stress and most peers cannot last beyond 3-5 years in same company same job. Hope to last another 10 years...

Well done! Can u share how much does the average AVP/VP relationship managers make? Im guessing u're from premier/priority banking. I know the top performer in one of the local banks made about SGD 1+ to 2 million last year.

Originally Posted by Unregistered

Well done. I'm sure not all sales can be like yourself. Based on your observation, how many % of RMs in a cohort can make it to your level? How many will remain mediocre? Will all make at least 100k after a few years?

I started out 2000 fresh from uni. There were about 30 of us in a cohort of personal bankers (branch sales) with a local bank. That is how most of us started to break into banking sales. They have mass hiring every month mostly fresh out of school to replace those who left. Average about 6 mths, half resigned from each batch and so on and on.

From what I know, only 1 other person survive from that batch till now. Some still in banks but no longer in sales. Most got out because they cannot meet numbers. Some due to stress. Have to hit sales month after month and it wear off most people. Endure 5 years with all 3 local banks before joining my present bank. Even my batch in 2005 of 15 just 3 stayed on to see the money. Its not an easy job. But after "discovering" this forum, I really have no complains...

The junior Private bankers make about SGD150K-200k. I know of ppl of more senior calibre making up to SGD1.5million pa. They are survivors and are very driven. Cannot compare.

8 years working experience. Changed to a totally new industry about 4 years back. Now making 78k/yr including bonuses. I feel like a loser sometimes, esp when I read the forums

Originally Posted by Unregistered

I started out 2000 fresh from uni. There were about 30 of us in a cohort of personal bankers (branch sales) with a local bank. That is how most of us started to break into banking sales. They have mass hiring every month mostly fresh out of school to replace those who left. Average about 6 mths, half resigned from each batch and so on and on.

From what I know, only 1 other person survive from that batch till now. Some still in banks but no longer in sales. Most got out because they cannot meet numbers. Some due to stress. Have to hit sales month after month and it wear off most people. Endure 5 years with all 3 local banks before joining my present bank. Even my batch in 2005 of 15 just 3 stayed on to see the money. Its not an easy job. But after "discovering" this forum, I really have no complains...

The junior Private bankers make about SGD150K-200k. I know of ppl of more senior calibre making up to SGD1.5million pa. They are survivors and are very driven. Cannot compare.

Thanks for sharing. Is it true that a successful sales has to be pretty and handsome (empirical evidence suggests this), and be lucky enough to get rich clients who take a liking to you (and your service)?

10yrs work experience, $140k part-time teaching. not much compared to bankers or others earning much more. but being able to wake up naturally, usually around 9am+, being able to tend to personal stuffs, being able to play with kids, i think no amount of money can buy that. again, this is just some personal opinions.

In my opinion, giving tuition is all abt the money. Not that attractive in my opinion due to a lack of personal growth, career motivation, social interaction with peers on a daily basis. I think being a teacher in a school is probably more satisfying. Just my personal opinion.

Originally Posted by Unregistered

10yrs work experience, $140k part-time teaching. not much compared to bankers or others earning much more. but being able to wake up naturally, usually around 9am+, being able to tend to personal stuffs, being able to play with kids, i think no amount of money can buy that. again, this is just some personal opinions.

that's quite good. what kind of teaching do you do? tuition?

Originally Posted by Unregistered

that's quite good. what kind of teaching do you do? tuition?

Tertiary level.

Originally Posted by Unregistered

I started out 2000 fresh from uni. There were about 30 of us in a cohort of personal bankers (branch sales) with a local bank. That is how most of us started to break into banking sales. They have mass hiring every month mostly fresh out of school to replace those who left. Average about 6 mths, half resigned from each batch and so on and on.

From what I know, only 1 other person survive from that batch till now. Some still in banks but no longer in sales. Most got out because they cannot meet numbers. Some due to stress. Have to hit sales month after month and it wear off most people. Endure 5 years with all 3 local banks before joining my present bank. Even my batch in 2005 of 15 just 3 stayed on to see the money. Its not an easy job. But after "discovering" this forum, I really have no complains...

The junior Private bankers make about SGD150K-200k. I know of ppl of more senior calibre making up to SGD1.5million pa. They are survivors and are very driven. Cannot compare.

Man, this is an inspiration.

Care to share how you toughed it out? What was your mentality?

In a sales role, compensation is so varied. I'm sure insurance agents that are doing well also can make these amounts. Nothing special here.