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Old 08-11-2013, 10:20 PM
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Quote:
Originally Posted by Unregistered View Post
Again, big 4 is quite standard in terms of salary / work environment. For banks it differs from bank to bank. If you go into MAS directory, there are over a hundred banks in Singapore, Ang mo banks, European banks, Chinese banks, Japanese banks, Middle Eastern banks, Korean banks, you name it they probably got a branch in Singapore.

Salary:

Bank salary depends on your field, usually FO>middle office>back office. An average say MO salary usually will not be as high as your average big4 worker most of the time. So you are correct in saying an average auditor probably has a higher pay then your average bank worker.

Work Enviroment:

This depends heavily on what bank and what role you are in. Hours in banks maybe worst then big 4 but that usually refers to your local banks and major foreign banks like Citi, SCB, HSBC. Due to their large SIngapore operations, you can expect alot of work around to do
Also investment banking, private banking, FO roles tend to be busier etc as well.

But if you compare to smaller banks / regional branches, most people don't work very late. I have experience in 2 jap banks and other smaller outfits and majority >70% of staff leave office by 6+, latest 7 + abit. Heck i can leave my office at 5.30pm now from time to time.
So not everyone works crazy hours in banks. Again office politics are more in bigger setups, my dbs fren complains about it all the time, but my jap bank frens say there is hardly any office politics there.

Career progression in places like Jap banks are quite consistent, etc work 2-3 years and get auto promoted as long as no screw up etc.


So whether a bank job is better then your auditor job depends on what you are doing and which bank you are working for.

I see.. so in short:

1) Work Environment
- Banks tend to have a more political environment than Big 4.
- However, smaller banks/regional branches may be better.
- Big 4 Auditors generally work longer hours than bankers (mid/back).

2) Remuneration
- Big 4 Auditors' salaries generally exceed the average banker (mid/back) over the long term (>10 years).

3) Exceptions
- Banks FO.

Thank you!

Oh btw, does anyone know about other companies such as:
1) SWF: GIC & Temasek
2) Those with established career programmes, such as Shell and GE
3) Any others?
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