Quote:
Originally Posted by Unregistered
Ummm ... that's why I'm here to clarify. Okay, thank you for your comments.
But just to make less confusing. She earns a base of $6k. Then she's given target to meet. Like if she sells $100k worth of banks product, she get another $6k. And anything else she sells pass $50k, she gets 20% of it.
So for example, if she one month sells $150k of banks products, she gets $6k base, $6k comms and $10k bonus comms making her pay for that month $22k. She explained me the structure very thoroughly that's why I think might be true.
I'll also add I can double confirm plus chop she works in MNC bank. And I think this job is what the OP is looking for so I at least share what I hear but also want to make sure is true.
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Dude, that's definitely NOT private banking.
Maybe a sales RM. But even then, I am pretty damn sure her comm structure is bull.
I know Private bankers and their starting salaries for fresh analyst is about 8K. I am talking about private bankers at IBs.
I don't know where exactly she is working at and what exactly is she doing. If she is doing a sales role like personal banker type... I still find it hard to believe. The bank that she is most likely to be in is probably Citibank, correct? Maybe she might even be in Citigold but there is almost zero chance that the comms structure pays so well.
Why do I know? Because Citi is extremely stingy with salaries and makes it super hard for most of their RMs to even HIT their monthly targets. I will take her story with a pinch of salt unless again, she is willing to show her payslip or IRAS filings. Nothing to hide right since she has already so willingly stated what she is earning to you?
I don't know why she thinks she can bluff you. If she is meeting a real M&A banker or someone who works a real job in banking like myself, I can assure you that she will be pwned left right and center.