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Originally Posted by Unregistered
Hello all! Was wondering, what are some of the differences between the MA Programmes in local banks (FO) and the Graduate Programmes (Back Office) in the foreign banks? From what I understand, the starting salary seems to be similar, but what about the culture/ working environment, career progression, pay progression and bonus? Thanks in advance!
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Batch of 2017 here. Fortunate enough to successfully breeze through my graduate programme with a BB.
I have uni friends who went through the similar track (MO Risk) but under graduate schemes with local/SEA-centric banks. Right of the bat I feel that during the early stages, the programme at BBs are more structured than local banks; the deliverables, learning & development, HR support etc. are way more superior.
To give you an example, in the first 3 months after induction, I was placed under a bi-weekly session in working my way to get GARP credentials on top of the general in-house training by HR. My local bank friends on the other hand were already shadowing senior analysts/doing grunt work.
I eventually started doing grunt work too but by the time I was officially perma’d to a department, I dare say my fundamentals are way better than my local bank counterparts.
Now fast forward 3 years, BB has a strong hire/fire culture that is solely performance based. The salary and bonus is great but informal performance reviews happen every quarter!