i’m in the banking industry for about 9 years MO. hopped from local to a BB then to a small foreign bank. typing this cause on leave tmrw and returning good deeds by sharing info.
by researching this forum and glassdoor, i’m sure u guys can tell what’s the truth being said. anyways hope we SIC more and toxic less.
it’s true investment bankers fresh grad in BB may get paid 10k, but if u meet one, u will also know they don’t have much time to even spend it. they are also minimally first class honours from local uni and have to pass gruelling MA interviews. so it’s true but highly unlikely and only for IB in BB (no other MA roles will pay u 10k straight out of uni).
BO/MO: starting salary at BB 4k+ is definitely possible. Even
OCBC or
UOB are paying at least 3k for fresh grads (just ask around)..
BO/MO: salary after 5 years? my estimate is 5-7k if ur foreign bank. depends on how many promotions and salary increments. if you’re good, twice promotion maybe 20% to 30% each time. local bank salary is low prolly 5k after 5 years is average (normal progression), but their bonuses are much better.
back to the contentious point being debated:
10k for MO role after 5 years in a BB (fresh grad) is highly unlikely. UNLESS ur a MA program, or ur linked to a revenue generation MO team ie structured product team, or ur salary increment was 20% every single year without fail on average despite all banks having one or two bad economic years. Again, sounds unlikely or u left out some other information such as YOE.. In any case, if u achieved it congrats, defo no easy fear. but folks here are asking for the reasonable range, not an unlikely outlier range. spread the kindness bruh
keep sharing and stop the toxicity!
cheers guys.
FYI, it’s true JPM doesn’t hav AVP, that’s why their senior associate salary can hit 10k too.. personal experience).