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Old 18-04-2016, 05:27 PM
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Originally Posted by Unregistered View Post
It depends, say if you are 22 years old now and you join in a BB in a MAP program, in 3 years you will be associate and 2 years later you will be senior associate (some banks call associate II). I think by age 28 you will be a kind of middle between associate II and AVP.

Paywise, local bank low salary but with bonus and insentive plan. That can stack quite a lot! Foreign banks giant pay but not much bonus. I worked in BB so I can safely estimate if you will get S$ 10,000 to S$12,000 per month when you turn 30 and fortunately you are not sacked.

I think bank people may have the pride that they are bankers and I agree that they are reluctant to work for 50% less(nobody is willing to work for 50% less, right?)
But don't worry for them, they are definitely best of the best. Even if they are sacked, there will be numerous headhunters chasing them to offer them another big bucks.

A little sharing from a fresh grad. haha
Thanks for sharing. But what I was getting at is the banker earning $10k - $13k when he's late 20's AND got sacked. Say market forces, one massive bad trade.

Then finance in the doldrums, like Asian equities just aren't traded, this guy could probably NOT find a job that paid that much in the next year plus. How long are market cycles right?

They also won't take a 50% cut for his next job which probably isn't banking. If he does, he unhappy everyday.

Compare this with someone say making $7k, got fired, but then took a job for $6k. It's psychological but this guy won't be affected that badly because he isn't taking that big of a discount.
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