Quote:
Originally Posted by Unregistered
Sorry, base on my experience this is definitely not true.
Management Associate can be $3-4k, but many of them are on 12 month basis. So if you convert to 13 month it's only $2.8-3.5k, this is not very different from most management trainee program in big companies / civil service. In short, if one is so good that can get into hipo programes in big companies, joining a bank doesn't really add anything in terms of starting salary.
Up to 5k for foreign banks I am very sceptical. Maybe some niche positions, but definitely not a general starting pay. Treasury Analyst are paid rather high, but 8-10k sounds way too high for a fresh grad, more like 6-8k if you ask me.
As for MBAs, salary range is more like 3-30k. It kind of depends on your previous experience and what kind of MBA it is.
I know is not good to generalize, but then hor something I want to say is many banking people really like to hao lianz one. They will seldom tell you how much they earn exactly, but will always do or say things indirectly that imply some sort of very high number. This one from my observation, no offense intended to any particular persons. So if you are hearing things especially about pay & bonus from banking dudes, take it with a barrel of salt!
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Sorry - should have made myself more clear.
The salaries I mentioned are for hiring in specific programmes within banks for high potential graduatnew hires, hence my comment on 2nd class upper and above qualification (i.e. Managament Associate Prog. / BB Analyst or Associate Prog) :-
- Up to S$5k is for
MAs in global banks i.e. Citi
- S$8-10k is for analyst programmes in bulge bracket banks
You are probably right in respect general fresh grad salaries in banks, but my general comment on banking being better than engineering from a pure salary standpoint stands.
Of course, life is not all about pay. There's work-life balance, and there's job stability and of course, there's passion for the job. So on balance, everyone has to make his own call as to what industry is most right for them.
Rgds