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Old 22-05-2021, 03:55 PM
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I hope everyone can be more responsible when posting. I have worked in Big4, Foreign Bank and local bank. There is always this misconception that foreign bank salary is better than local bank and local bank salary is better than Big4. This is a huge misconception for MO and BO.

I believe for IB, PB and Trading, Foreign Bank does pay better than Local Banks. But for MO and BO, ie Risk Management, Compliance, Audit, Technology and Operations, the pay is comparative. As local bank has higher bonus and they can matched foreign bank salary, someone who worked in local bank can essentially earn more than foreign bank in terms of total income.

Another misconception is that people thinks if u join a Grad Program, u are better than those who joined direct. Or ppl who joined foreign bank has better prospect than Local Bank. Big 4 being the worse of all. Having worked for substantial years in the banking industry, I realised it doesnt matter whether u start out from big 4,local bank, foreign bank or grad program. Ultimately, is how opportunistic u are in jumping ship and being at the right place, right time.

I do know people who worked in big 4 who transit to local bank, being more successful than those who started from MAS with scholarship.i have also seen ppl from local bank jumping into foreign bank, climb faster than those who perpetually in foreign bank. So please stop this misinformation. Is all up to right place, right time. Whether u are in a grad program, from MAS, SGX, Big 4, started in local bank or foreign bank, doesnt really matter.

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