IT manager in bank is considered very senior and close to management level. they typically have 6 to 10 years experience minimum. The pay you see is justifiable.

analysts, associates and senior associates are the lower levels. IT analyst getting paid like 8K should have minimum 5 years experience for singaporeans, or lesser for expat.

IT analyst in local banks like DBS, UOB or OCBC getting 8K is almost impossible. For foreign banks, it is possible if you factor in the huge bonus.

IMHO IT in banks is not as stressful as front-office.