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Old 11-05-2021, 06:51 AM
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Iím currently drawing around $4200 in a regional bank doing perm CDD/KYC work.

Abit of my background, I have stayed with this bank for more than 6 years, armed with local uni degree (hons) cert in Mathematics.

I started looking out for jobs recently as my pay has been quite stagnant since 2019.

After going for quite a few interviews, I settled for a 2-year contract offer from a foreign CIB as a KYC Analyst. They are giving me $5100. They told me that thisís a long term contract and after the contract has ended, many staff usually just renew the contract unless theyíre really CMI. It was even stated in the offer letter that ďAt the end of the contract, it will be renewable given the mutual agreement between the employer and the staff.Ē Notice period is 2 months if I want to resign.

Actually, that bank is my second choice as my aspiration is to join JPMC. However, the competition at JPMC is really stiff and I cannot even get past the first interview even when my friend had referred me for the role.

A few questions for the bros here,

1) Based on my description above, do you think that Iíve made a right choice in the move? From perm to contract.

2) Should I just settle for this bank and work hard to try to transfer to their perm position? Or should I just continue to try JPMC? Honestly, Iím really disheartened with JPMC even though Iíve put in so much effort to prepare for the interview and make use of all my connections to get the interview opportunity.
Depends on what you are looking for in a role. Contracts are paid higher in general to compensate for the poor intangible benefits/bonus.

Not sure why like JPMC so much. KYC in banking has high volume and manual in general.

Have an open mind to explore your options. There is only so much a KYC analyst can earn.

With your years of experience, you should be looking at a more senior or managerial role.

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