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  #414 (permalink)  
Old 11-06-2021, 06:42 PM
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Originally Posted by Unregistered View Post
Can I clarify if this is true? Any fresh entry will be guaranteed a banking career and promotion up till AVP without any risk of retrenchment? Even during Covid now also safe from it? Any pay cut? What is the salary ceiling for this "safe path"?
Original poster here. For local banks this is true to certain extent. Stay long enough and you will eventually hit AVP unless you're absolutely terrible, in which case you'll probably leave on your own anyway. They also have a culture of protecting jobs which is why you hear about people wanting to move from foreign to local bank during mid career. No pay cut during economic downturn, just lower bonuses possibly.

There are so many AVPs sitting around in MO/BO, just waiting for the lucky break where they get to move up to VP. Salary ceiling is probably around 9k a month (talking about DBS), up to 3 months bonus.

But note that this safe path can be absolutely soulless and dreadful. The hours are long, yet the work you do is quite trivial and sometimes just for show. I've a friend in DBS who said that more than half of the cohort would have left the BO graduate program by the end of two years.
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