How much are you earning per annum?

[Bean]

Originally Posted by Unregistered

Hi, I've total 5 yrs working exp since grad. Degree holder. Currently drawing 4k basic salary. Last bonus 4+ mths. Can those with similar yrs of exp share how much u're drawing? Wld like to know if my salary is really pathetic or still ok..thanks

me same with you

male
grad in july 2007, ntu 2nd lower
from ST engineering
start pay = 2900

promote to senior engineer in 2010

by this june 2012= 5 years exp liao,
-expected salary = $38XX only
-expected annual salary for FY2012 = $68XXX (include all bonus/aws/stock)
-I m just average 'C' grader

Originally Posted by Unregistered

Hi, I've total 5 yrs working exp since grad. Degree holder. Currently drawing 4k basic salary. Last bonus 4+ mths. Can those with similar yrs of exp share how much u're drawing? Wld like to know if my salary is really pathetic or still ok..thanks

I started in 2005 at 3.8k at an IB. bonus was 6mths.
2006 at another IB at 5.2k. bonus was 6 mths.
2007 at another IB at 6.8k. bonus was 9 months.
2008 onwards was pnl driven.. 7.5k then 9k then now 14k. bonus wise.. ranges from 14-40 months.

no matter how many pple keep saying banking is sunset.. the rewards are still there. pte bankers still earn tonnes. hedgies earn even more. and we just do ntg but flip the coin. its just luck to get to the job or know someone well enuf to give u the job. not your degree or ur knowledge.

Originally Posted by moron

I started in 2005 at 3.8k at an IB. bonus was 6mths.
2006 at another IB at 5.2k. bonus was 6 mths.
2007 at another IB at 6.8k. bonus was 9 months.
2008 onwards was pnl driven.. 7.5k then 9k then now 14k. bonus wise.. ranges from 14-40 months.

no matter how many pple keep saying banking is sunset.. the rewards are still there. pte bankers still earn tonnes. hedgies earn even more. and we just do ntg but flip the coin. its just luck to get to the job or know someone well enuf to give u the job. not your degree or ur knowledge.

"we just do ntg but flip the coin. its just luck to get to the job or know someone well enuf"

very unfair right? i know life's unfair, but this is super unfair isn't it?

Originally Posted by Unregistered

"we just do ntg but flip the coin. its just luck to get to the job or know someone well enuf"

very unfair right? i know life's unfair, but this is super unfair isn't it?

yup it is indeed unfair, but to some extend we had to work for it. a good friend who is a successful trader/treasurer and a senior told me the road to success is made up of 3 parts.
1. Do what you do well
2. Know the right people
3. Make sure the right people know you

Number 3 is the crucial and most difficult part.

For those (like me) who did not have the privilege of attending ivy league and a rich family who has connections, we had to farm the way up by working hard, upgrading the degree to know the right pple and at the same time trying to know the right people up in the banks food chain. Not by tripod-ing them if u know what i mean. but by convincing them that you can be of use to them. whether u can or not is not impt, its the convincing part. thats why u see so many indians and caucasians who are totally useless but in mgt roles on trading floors. its about selling yourself.

money wise, yes it is unfair. we just get paid ridiculous compared to probably everyone else cept the top litigators, surgeons and CEOs of MNCs.

You can call it as luck/fate/destiny or whatever that you like, yet you can work your way up if you're really persistance.

I have seen ppl who have no fancy degree, from non-ivy league, breaking into the ib, with lots of efforts put into the networking. You can do the same by taking initiative to speak with 50 or 100 ppl in the industry. All you need is just 1, just 1 soul out of these 50 or 100 who is willing to give you chance.

Originally Posted by Unregistered

You can call it as luck/fate/destiny or whatever that you like, yet you can work your way up if you're really persistance.

I have seen ppl who have no fancy degree, from non-ivy league, breaking into the ib, with lots of efforts put into the networking. You can do the same by taking initiative to speak with 50 or 100 ppl in the industry. All you need is just 1, just 1 soul out of these 50 or 100 who is willing to give you chance.

Not being fatalistic here, but how many tried very hard and persisted, and yet still failed? There are only so many years in your working life, not forgetting there's also a sell-by age in many industries.

Originally Posted by Unregistered

Not being fatalistic here, but how many tried very hard and persisted, and yet still failed? There are only so many years in your working life, not forgetting there's also a sell-by age in many industries.

Spot on. I have a MBA classmate who dreams about going into IB. I am not sure how hard he tried but it's been 5 years and last I know, he is working as a buyer in a MNCs.

It is good to try but also good to know when to give up.

Income $230K per annum

I only own one landed property and two condos, all fully paid up.

CPF $200K

Cash $100K

Need to work harder to buy another condo

Wish me luck!

Annual: 130k
Bonus: 70k

Total: 200k

Worked in IB.

Originally Posted by Unregistered

Annual: 130k
Bonus: 70k

Total: 200k

Worked in IB.

Your package is typical of 3rd year associate level in ib these days. Used to be bonus is >1 year, but now times are bad so your bonus is quite okay.
Last time, receiving this level of bonus is implictly telling you to leave before the axe falls upon you....