Quote:
Originally Posted by Unregistered
What field/role in SCB are you being offered? Also, are you new to banking?
Per market practice across banking in SG in general, they’d offer a bump from your current salary which explains why HR is asking for payslips. General pay increment is 15-25%. Market isn’t great now and employers have the higher bargaining power than candidates in today’s tight labour market, so use this piece of info wisely in your salary negos. SCB does also have a “target bonus” which would also form part of the offer. As with all (or most large banks), salary negotiations are with the HR, and HR may have their own internal discussions if required.
|
Thanks for this.
Yes I am in banking and have spent my career in banking at a foreign bank, 12 years. I work in digital transformation strategy but am not a technologist and will be going into a similar role at SC in retail and wealth at director level. I don't know how my salary maps to SC but according to agency recruiters my current TC seems to be at the higher end.
Interesting you say that bargaining power is with the employer. Do you mean it's this way because of candidate oversupply or is it because banks are being more cautious with hiring? And do you see this happening for non tech digital roles?
Also, just to clarify the target bonus. From the bank's perspective, do you have a sense of whether they focus on negotiating the base during negotiation, with the target bonus being an additional cost of the hire, or do they focus on selling the TC to you?