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Originally Posted by Unregistered
Are these revenue generating departments in other words are also sales… RMs they are pretty much similar to salesperson and insurance agents but they just work in a bank. It doesn’t really require much skills to be a RM, the barrier to entry is low. Of course IB is another thing but how often do people get a chance to enter IB, usually only those from affluent families or have connections tend to enter as a fresh grad much easier than the majority. Not picking a fight here but just sharing…
But curious you know how strategy seems prestigious too… so is strategy roles in banks considered support role too? 😬
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Revenue generators are not just RMs, so so so so many people are involved and considered revenue generators. Taking PB as an example, you need investment specialists, product specialists to support the RM and all of them are revenue generators. In SnT, traders are also revenue generators, not just the sales people.
And it certainly may not need that much skills to be a RM (unlike a software engineer), but the barrier to entry to be a RM in PB / Corporate Banking is HIGH. because top students will apply for it and competition is stiff. you simply cannot compare the calibre of people going to AIA/GE to sell insurance and those that are going for PB/Corporate Banking in Banks. And you still need to know some **** in order to sell, esp when you are not just selling insurance to your uncle and auntie but to more sophisticated UHNW or corporate clients.
Strategy roles in banks are also considered support roles.