Quote:
Originally Posted by WiredJustice
Just ignore him lah, obviously just a troll out to stir shlt.
Actually if people serious in understanding market pay for a job, besides going to HR can actually look for the management consulting firms. I once paid Hewitt (now called Aon) to do a job pricing for me to make sure that a Shanghai offer I had was reasonable.
The probelm is they charge $$$ (USD550 for my case) & most people who are at junior level really no point in spending the money.
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Agree.
A couple of sources I usually use are market surveys and headhunter discussions. Front office bankers usually receive a few calls from headhunters every week sounding out potential opportunities in various banks (less nowadays as there is a general slowdown in hiring).
Does not take much to fish out the pay range the other banks are paying for similar positions. After a while u will know the general payscale for your position, and the one above, in various banks i.e. US banks, Local banks, Jap banks, Universal banks, Boutique banks etc.
If you are a banker and you do not know the market, you are setting yourself up for career mis steps. First, you have no leverage in your internal bonus discussions, and second, you may move to another bank for a slight step up in pay but with effectively a demotion (as diff banks have different ranking scales and some have rank inflation).