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Old 02-02-2016, 04:49 PM
osd osd is offline
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Quote:
Originally Posted by Unregistered View Post
Let me clear the air. I don't know the absolute figures but I speak from reputable source.

When you say wealth advisor, relationship manager, your pay and opportunities depend on which tier. I think the leveling goes something like this:

Retail - someone like me with little cash.
Privilege - $50k to $200k.
Private Client - $200k to $1m.
Private Banking - $1m and above.

I'll say that you can earn $4.5k to $7k base + bonus / commissions when you start serving Private Client. Then when you serve Private Banking, I think all in monthly can be $40k.

Anyone else with to confirm with me?
Privilege and Private client = fancy titles.

Banks inflate their job title too. MOST RMs are fresh grads who graduate with low GPA and can't get those 'better' jobs. You start off at the bottom of the food chain = salesman standing in front of banks trying to make u open account/sign credit card. If you're a good looking person who can charm people it helps a lot.

It's easy to be RM but hard to stay as one. It's a very KPI driven job as you have to sell products to clients. Basically you have to find a way to make peopel give you their hard-earned money for some products(insurance/trust/depository products etc) that may or may not benefit them in the long run. Not alot of people can do this and most people quit after a few months.

The proper RMs are those who handles HNW people. This guy is asking for RM/Personal banking and from the way he ask he is probably looking at the bottom of the food chair.

To the person who started this post :
All these things can be easily found if you just search forum. If you're asking basic questions like this when its already available on Google(EDMW/HWZ/Salary.SG/Reddit/sgforum), I suggest you buck up.
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