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Old 26-07-2011, 02:56 PM
Liverpool Liverpool is offline
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also... the way you are phrasing the qn is that i shld earn more as i age...

thats not the case... its a v sales specific job... u can sell, u can earn more than seniors.... so it works both ways... if u r senior and think u can sit back and dun sell, then the company will say bye bye to you..

and private banking goes by ranks... analyst - Associate - VP - MD

analyst earns ard 50k to 60k per yr... so basically u do sai kang... the client may want to look into fixed income products, so the associate arrows u to do some research on that. u may sit in at some meetings to learn more.

associate earns ard 80k-100k... these are ppl with exp and meet clients. they network for more clients and try to work with them...

take note that with bonus, they will earn more, depending on the company compensation plan and how much clients u bring in....

another way is go thru personal banking path, so if u r really good at selling to auntie uncle, they will promote u to private banking...

VP and MD i am not sure, but i heard can be 500k a yr or even millions depending on how good you are...

end of the day, like any other job, mid thirties does not guarantee u associate... mid forties also does not guarantee u to be VP... its how hard u work, network, look for more opportunities, jump ship etc...

if u want more money, go for IB... it pays higher over there but u haf to be really smart and work longer hrs...

n dont forget, u r not the only person who wants to go private banking... heck i wanna go sales and trading but do i have what the companies are looking for? what is my background and selling pt? u have to ask urself this than just saying i wanna do this or that...
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