Sorry if it is not obvious enough that the salaries are that of investment bankers. I'm not referring to the IT or Ops guy working in investment bank. I'm referring to the ECM, DCM & Corp Fin guys.
M&A deals and S&T volumes are dwindling. So the bonus are crap but do you know what's the base pay of a fresh grad investment banker? (i.e analyst. Look at the MS numbers, they are the only one with analyst data pt) S$10-12k. (Citi, JPM, Goldman, SCB, DB, Macquarie, CS, UBS, BOAML) Guess what, on top of that S$10-12k, there is also a S$2k+ housing allowance (ask you friend at Citi, he will tell you) for some of the houses.
So there's nothing inaccurate about the "freaking figures" I had quoted.
Quote:
Originally Posted by Unregistered
Go back and look at what u typed. No where did u mention it's only "a small handful" or that your figures are only for the front office. Only after u kena exposed, then u mentioned "small handful". The IB ops associates/analysts are not making the freaking figures u quoted.
From your posts, it's quite obvious u're not working in an IB nor "in the market", so to speak. Reasons being:
1. Front office bankers are faced with lack of M&A deals. S&T volumes are dwindling. Euro is uncertain. IBs will continue to cut people across the globe. Nobody from front office will not come out and post those figures which u did, and add that they are in "USD, not SGD"
2. U're oso not working in IB back office, because all IB ops guys know that their functions are increasingly being shifted offshore to cheaper countries like India etc. Many of them got 0-3 digit numbers for their bonuses last year. Times are bad.
So I don't know why u quoted those numbers (which only apply to the top 5-10% in banking anyway) to show our engineer friends. Sorry, just felt that your numbers are quite misleading...
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