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Originally Posted by Unregistered
Just curious do you have access to HR info for all 3 local banks? I ask this because other than that I don't see how you can conclude for sure that no avp gets paid above 10k. It's not like all the avp just start shouting their salary on the street right?
For me I don't know how local bank pay, but 10k for avp sounds reasonable. I know a few friends in European banks who reached 10k even as associates, so will be very surprised if avp in local banks pay less than that.
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for local banks, i can tell u it varies... e.g. if u r a AVP headhunted from a foreign bank to join a foreign bank cos of lack of specific manpower in a certain expertise, u can expect the local bank to pay u more than a foreign bank (else why would u move?)... in this case 10k is possible but u really really must have some specific skill they want, maybe u r a star trader or wat...
if u work ur way up, then no, e.g. u join in the local bank grad program, then rise ur way up to AVP. lets assume u join as fresh grad, starting pay is 3k+, lets say after 1-2 yrs, u r associate, so now $4k+, then if really gd after 1-2 yrs, AVP. U tell me how can the jump be so drastic to 10k? Impossible. Note that we are talking abt local bank here, foreign bank grad program pays more...
Then again, it varies by exp and position. An AVP with 10 yrs exp would obviously be paid more than an AVP with much lesser yrs of exp... an AVP at front office would also get paid more than an AVP at back office...
AVP does not equal 10k... It depends on your bank, your years of experience and more importantly the very special skills you possess...