this comes from experience working in a bank. Whilst I wasn't in the Private Banking arm, I was a MA in the Corp banking arm.

In my batch there were 3-4 MAs that joined the private bank, back before 2007. You should check with your career counselor in Uni on the hiring programs of the other private banks, especially the application timeline for grad recruitment (I assume you are still an undergrad)

The bank I was in (I have since left) have stopped since merged the MA program for all departments into 1 common program. So you can apply into the general MA program, and request for a stint in the Private bank.

Again, you won't be a RM. You will be an ARM and your job is to support the RM for 3-4 years. Because you are designated as a MA, your path to becoming a RM maybe faster. But ultimate, in the wealth mgmt sector it is alot about luck , timing and performance.

My colleague Mum is a Senior private banker in one of the EU banks. She hired a fresh graduate from local Uni as a support / assistant RM. She is not paid much (close to what i said 3k+ p/m. Her job scope is everything under the sun, including delivering / collecting documents from client. * I'm not sure what are you main motivations towards a PB role, but I urge you to speak to someone who is already in the industry to get a sense of what the role is really about*. I suspect you don't have a full picture, and might be disappointed.

As for payscale, mgmt trainee is on a different payscale in the bank. Starting pay is around 4k. Yearly increment is pretty structured for first 2-3 years but also depend on which department you get allocated to.

In private wealth, maybe 5k p/m after your 2nd year? (that is if the private bank likes you and hires you under their headcount)

If you are not under the mgmt trainee program, you'd prolly start at 3k. And this is not a local bank btw. *reality check*

As for your VP question, rank progression in the bank is completely dependent on performance and in part also years of experience. Typical VPs take anywhere between 7-15 years.

As for "length of program", this differs from bank to bank. Anywhere between 1-3 years is the common length. Thru program, you usually get promoted twice. So if you joined as Assistant Mgr, you will be Manager? (AM has 2 ranks)