Quote:
Originally Posted by Unregistered
Dont want to burst your bubble.. in my line of work, I do see the payroll info for private bankers.
I would say that junior private bankers 1-5 years (mostly these are the assistants) start off with very low salary. I've seen many below 3k p/m. Bonus? 2-3 months in recent years (despite all the hype of SG growing as a PWM hub)
For senior bankers (from IC number can see those are between late 30s to 40s), monthly salary more than 20k are common. But most stuck within a certain bandwith. Bonus are very varied.. seen alot 60-120k.
But even in the non-banks, there are alot of people (department heads etc) who earn 20k plus per month.
Of course there are the extreme outliers. Just like any other industry. But only a few.. 1-2 out of 100?
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Your numbers dun even make sense. You say those 5yrs exp & below make <3k, but suddenly those in late 30s (I assume 10 - 15 yrs exp) make >20k. So a typical guy joins as private banker for the 1st 5 years as a loser who can't even make 3k and suddenly in the next 10 years become superstar rise to >20k?
While many junior private bankers do play a more support role, because of the complexity of the products as well as the type of client they are dealing with, it requires far more technical and soft skills expertise compared to a normal fresh graduate executive that make easily $3k+. No way anyone's gona stay as a private banker up to 5 years for <3k and 2 months bonus.
Are you sure you not confusing private banker with salesman (aka consumer banker / wealth banker)?