Quote:
Originally Posted by Unregistered
Again, don't split MO/BO, they are in the same salary bracket. I don't know which bank you are from, and why you think MO makes more than BO.. This is a common misconception so I don't blame you. I am in a BB now and was from another BB earlier. An ops FRESH VP base is only 8k -9.5k per month. A fresh grad analyst in FO is 10k. During my first year in FO, full one year compensation was 165k including bonus. An ops VP old or new collects maximum 2 months, and on average 1 month bonus across the board. I know because we invite ops managers for drinks yearly to thank them for the support. I have been in this line for 6 years, don't let the AVP/VP title fool you, there is a reason why FO salary is called superscale.
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Not talking about banks with AVP/VP titles -- just Analyst > Assoc > VP > ED etc.
BB FO 10k is mostly
IBD analysts, roles like WM can start as low at 5.5k even at a mid-tier BB. There is a subtle difference between MO/BO in terms of progression and bonus (Trader Assistant > Compliance/Settlements)
Another pointer for OP to note: Local Bank FO to BB FO is NOT easy. But to each its own, because FO ultimately earns more than MO/BO but the work-life balance etc is something for you to ponder. Once you reach the VP level, you are expected to bring in business and from there it's either "up or out".