HSBC Bank

[tehseeh]

Hi all, would like to consult current / ex HSBC Singapore private banking persons:
What's the career progression/corporate hierarchy like? Fresh grads start at what level, and what are the ranks from there onwards?

In addition, any insights on the pay bracket/bonus/increment of each rank would be helpful...

Thanks in advance

Originally Posted by tehseeh

Hi all, would like to consult current / ex HSBC Singapore private banking persons:
What's the career progression/corporate hierarchy like? Fresh grads start at what level, and what are the ranks from there onwards?

In addition, any insights on the pay bracket/bonus/increment of each rank would be helpful...

Thanks in advance

Unless ur parents are UHNW, there is no such thing as fresh grad private banker.

[tehseeh]

Originally Posted by Unregistered

Unless ur parents are UHNW, there is no such thing as fresh grad private banker.

Think I should clarify a little. I meant private banking as a whole function, including support and ops etc.. I'm just curious to know how's the structure in HSBC private banking like

Anyone knows the GCB 4 equivalent in the market. Is this SVP level or VP level?

Originally Posted by Unregistered

Anyone knows the GCB 4 equivalent in the market. Is this SVP level or VP level?

ex hsbc staff here.

band 8 - officer
band 7 - assistant manager
band 6 - avp
band 5 - vp
band 4 - svp
band 3 - ED
band 2 - MD
band 1 - CEO/CFO etc

hsbc ranks are inflated compared to the industry average. a band 7 is really just a analyst elsewhere. band 6 are considered as associates, some places even deem them only senior analysts.

word to the wise, for band 7 & 8, your pay package is spread across 13 months, not 12. This comes in the form of a guaranteed AWS. so your monthly paycheque will appear lesser, but the guaranteed AWS pays out in December, or pro-rated if you leave before that.

Originally Posted by tehseeh

Hi all, would like to consult current / ex HSBC Singapore private banking persons:
What's the career progression/corporate hierarchy like? Fresh grads start at what level, and what are the ranks from there onwards?

In addition, any insights on the pay bracket/bonus/increment of each rank would be helpful...

Thanks in advance

further to my reply above, fresh uni grads typically start at band 7. pay wise is between 3k per month to 4.2k per month. expect the lower spectrum for fresh grads with no experience.

yearly increments are standard. 2-5% depending on performance. bonus last year for a good performer was 2.2-2.4 mths

Originally Posted by Unregistered

ex hsbc staff here.

band 8 - officer
band 7 - assistant manager
band 6 - avp
band 5 - vp
band 4 - svp
band 3 - ED
band 2 - MD
band 1 - CEO/CFO etc

hsbc ranks are inflated compared to the industry average. a band 7 is really just a analyst elsewhere. band 6 are considered as associates, some places even deem them only senior analysts.

word to the wise, for band 7 & 8, your pay package is spread across 13 months, not 12. This comes in the form of a guaranteed AWS. so your monthly paycheque will appear lesser, but the guaranteed AWS pays out in December, or pro-rated if you leave before that.

I can confirm HSBC band/rank is definitely more inflated. I am currently an AVP in DBS and was recently approached by HSBC for a SVP role. At first I thought they was an error and double check with their recruiter, but they confirm back that my experience and current pay match what they are looking for.

Originally Posted by Unregistered

I can confirm HSBC band/rank is definitely more inflated. I am currently an AVP in DBS and was recently approached by HSBC for a SVP role. At first I thought they was an error and double check with their recruiter, but they confirm back that my experience and current pay match what they are looking for.

HSBC's banding is largely driven by pay. Your AVP package with DBS must be pretty high for them to offer you the SVP banding.

Originally Posted by Unregistered

HSBC's banding is largely driven by pay. Your AVP package with DBS must be pretty high for them to offer you the SVP banding.

Based on asking around, I would estimate my pay is about 10-20% higher than average AVP, but it still does not explain how it can suddenly fit into HSBC SVP band unless their bands are really inflated.

During the interview when I ask their HR about the org structure, my impression is that there are many more SVPs in a HSBC department compared to DBS. Also they seem to have many SVP positions with no or 1-2 subordinates only which is very different from DBS where most of our SVPs are heading a medium to large department.

Originally Posted by Unregistered

Based on asking around, I would estimate my pay is about 10-20% higher than average AVP, but it still does not explain how it can suddenly fit into HSBC SVP band unless their bands are really inflated.

During the interview when I ask their HR about the org structure, my impression is that there are many more SVPs in a HSBC department compared to DBS. Also they seem to have many SVP positions with no or 1-2 subordinates only which is very different from DBS where most of our SVPs are heading a medium to large department.

How much does DBS pay its AVP?