Officer Role in Bank of Tokyo - Mitsubishi UFJ

[fusion]

Got a call for an interview at the Bank of Tokyo Mitsubishi UFJ Singapore. Just curious title Officer in that bank is equivalent to what local banks e.g. DBS, UOB, OCBC and the foreign banks like Barclays, UBS, RBS etc?

Their manager title is equivalent to what in these banks?

[fusion]

How is the life in that bank as well? Is experience gathered there useful in moving to the local, US and European banks after two years?

officer - glamourous way of labeling an employee as "diploma holder" or "highly experienced without a diploma"

manager, assistant manager - glamourous way of labelling an employee as "degree holder" or "experienced but with only a diploma".

AVP and Above - "at least X years experience. degree or not doesnt matter"

[fusion]

Originally Posted by Unregistered

officer - glamourous way of labeling an employee as "diploma holder" or "highly experienced without a diploma"

manager, assistant manager - glamourous way of labelling an employee as "degree holder" or "experienced but with only a diploma".

AVP and Above - "at least X years experience. degree or not doesnt matter"

In that case, I am really worried about their intention of hiring me or are they just there to do salary benchmarking for their staff. I have an advanced degree with close to 4 years experience in other sectors. My interview is just with a manager lolz really sad.

Well, officer role is like an entry-level/ 2-3 years of junior position over there. I would say that I have seen people quitting less than a month citing the system is too backwards and rigid and also not much career development.

I would advice you to think twice.

Nevertheless, the benefits are good.

[fusion]

Originally Posted by Unregistered

Well, officer role is like an entry-level/ 2-3 years of junior position over there. I would say that I have seen people quitting less than a month citing the system is too backwards and rigid and also not much career development.

I would advice you to think twice.

Nevertheless, the benefits are good.

That sounds worrying. I intend to move on after a year or two to the local bank or other European foreign banks. Is the experience gathered there recognised by the other banks?

[fusion]

Originally Posted by Unregistered

Well, officer role is like an entry-level/ 2-3 years of junior position over there. I would say that I have seen people quitting less than a month citing the system is too backwards and rigid and also not much career development.

I would advice you to think twice.

Nevertheless, the benefits are good.

It sounds like a cultural difference thingy between us and the Japanese. Is it? I understand that but I would like to break into the banking domain thus I guess I will have to give it a try.

to add on, bank employees have internal rank and external rank. within a bank, internally you may be ranked officer, but your external rank to the public or on your name card is assistant manager. your pay is pegged to your internal rank.

your interviewer is likely to be your future supervisor, a direct rank or 2 above you.

Europeans banks are in pretty bad shape right now. maybe you can consider other opportunities in future. but i must say if you're thinking of switching to finance, this is a good route to start off. nobody starts off a AVP straightaway, even those who were recruited in as AVP was an AM way before.

Originally Posted by Unregistered

Well, officer role is like an entry-level/ 2-3 years of junior position over there. I would say that I have seen people quitting less than a month citing the system is too backwards and rigid and also not much career development.

I would advice you to think twice.

Nevertheless, the benefits are good.

Lol the benefits suck compared to most under banks.

Annual leave 21 days: Local banks / foreign banks have 25 and above

Annual DnD held on a Saturday: Local/foreign banks have dnd on a friday and much better lucky draw / higher budget.

Medical : Must co pay $5, lousy panel, I found local / foreign bank medical better, some even cover your whole family / kids etc.

Dental standard

No flexible cash benefits like buying spectacles etc. Before the govt implemented paternity leave, 1 day also dun have, hamper also dun have.

But got small dinner allowance. Work after 7.30 can claim $15. Work after 8 can claim $20.

Rank structure is as follows:

Officer -> Senior Officer -> Assistant Manager -> Deputy Manager -> Manager -> Senior Manager -> Assistant General Manager -> Deputy General Manager -> GM

Think highest rank locals can reach is AGM. Assistant Manager in BTMU is equiv to a AVP in other banks.

Systems are quite shitty, alot of procedures and process. But generally work load is quite managable and majority of staff leave quite early either on the dot or by 7pm.

Bonuses are quite standard and decent 3 months - 6 months. Middle / Front office gets 4-6 months. Ops usually 3-4 months. Not bad. Yearly increment quite sucky

Career progression is quite standard. work 2-3 years dun screw up you get auto promoted to the next rank. Promotion increment about 8 - 13%.

Officer is usually for fresh grads etc. What department are you interviewing for? Is it a Singapore branch unit or a Tokyo head office unit?

Deputy Manager and Manager rank equivalent is a vice president in local / foreign banks. Senior Manager is ~ SVP and AGM is equiv to about a MD. My dept head previously who was a AGM was previously a MD in DBS.

Whether your experience is transferrable to a local/foreign bank greatly depends on what function you are in. Many job agencies / recruiters know that Jap banks are usually quite relaxed and some departments don't learn much particularly ops or even Japanese corporate banking (doing more basic servicing in that dept instead). Some departments have high turnover ranks cos they usually employ fresh grads who after a year or two leave.

But there are also some aunties/uncles who have been with the bank for >30 years etc.

Overall in terms of Jap banks I would say the best benefits/life is in SMBC followed by either BTMU/Mizuho.

Mizuho has damm short working hours tho 8.30am (dun be late), to 5pm. Some lucky departments really leave at 5pm or 5+ abit damm early !!