SVPs in banks

Originally Posted by Unregistered

I wonder if most graduate working in bank ends up at VP or AVP. Will there be a significant number of bank employees actually stuck at AVP earning upper limit of the AVP salary (around 100k to 150k)

Given that AVPs are between 80k to 100k bands, i guess if the said employees were to be stuck at AVP they'll be at max hit 120k?

anything above that like 140-150k onwards will correspond to VP pay already according to what i assumed from the previous posts

Originally Posted by Unregistered

I can give a range where you guys can take as a pinch of salt.
Bringing context that we are talking about average/slightly good performer, not top performer or high flyer.

For SVP in local bank, these are some of the traits they will usually have:
1) Usually mid 40s onwards
2) Annual Package usually 230k onwards
3) Responsibilities usually covers a "big team" which the Bank defines it as important enough to have a SVP, otherwise smaller team will usually have a VP at most for Managers.

Answering to TS (quek) question, yes, typically SVP in Banks do really earn between 200-300k annual package range, which includes basic salary + bonuses + shares (if any).

Answering to some other question in this topic:

1) Usually most people stop at VP level.

2) Usually it takes about 8-10 years to reach to VP level, if not longer, depending on many factors. VP salary range is typically 140k - 190k, depending on years of experiences and portfolio handling. The salary package might include title salary which some banks gives like 1k+ for transport and allowance, which is also included in salary package. But overall package approximately 150k for people whom just got promoted to VP.

3) Usually for AVP, experience needed is about 4.5 years to 7 years will be able to obtain AVP. For annual salary package wise about 80k - 100k.

4) Salary package across department will be different. Take for example a similar years of experience of AVP in Technology department vs someone in Operations department, on average Technology department will ALWAYS earn more, but how much more it really depends.

This sound like DBS. Very very few banks have transport allowance. DBS is one of the rare few.

Originally Posted by Unregistered

I wonder if most graduate working in bank ends up at VP or AVP. Will there be a significant number of bank employees actually stuck at AVP earning upper limit of the AVP salary (around 100k to 150k)

Most graduates should make VP before retirement. You seldom see graduates stuck at AVP salary limit as they would have moved on to other companies. It's more likely you see older folks without degrees who remain as AVPs until retirement.

All graduates should strive for a VP position at minimum. That's what I tell my team during their performance review.

Originally Posted by Unregistered

Most graduates should make VP before retirement. You seldom see graduates stuck at AVP salary limit as they would have moved on to other companies. It's more likely you see older folks without degrees who remain as AVPs until retirement.

All graduates should strive for a VP position at minimum. That's what I tell my team during their performance review.

What about females who took a break from work (for family) and returned to workforce, what would be the expectation?

i just noticed that my friend is a "Vice President Home Loan Specialist"

joined UOB for 4 years till date. highest qualification is Masters from Curtin University...

how is it possible for him to move up so quickly?? considering it takes awhile to reach AVP before even VP...

we are both 29

Sales job usually have big titles that’s not necessarily come with high pay.
Will prospects do business with an associate or VP?

Originally Posted by Unregistered

i just noticed that my friend is a "Vice President Home Loan Specialist"

joined UOB for 4 years till date. highest qualification is Masters from Curtin University...

how is it possible for him to move up so quickly?? considering it takes awhile to reach AVP before even VP...

we are both 29

End of the day, a sales role is still commission based. Banks do not pay for non-performance.

PhDs comes in as AVPs typically

Originally Posted by Unregistered

i just noticed that my friend is a "Vice President Home Loan Specialist"

joined UOB for 4 years till date. highest qualification is Masters from Curtin University...

how is it possible for him to move up so quickly?? considering it takes awhile to reach AVP before even VP...

we are both 29

UOB has slight rank inflation. They have 2 tiers of VP, VP1/VP2. Their junior VP salary can be as low at 90k p.a. base. or 7.5k p.m. This is common for banks like HSBC and SMBC also where pple can hit VP v fast but their p.a basic is only at around 80-90k p.a.

Originally Posted by Unregistered

UOB has slight rank inflation. They have 2 tiers of VP, VP1/VP2. Their junior VP salary can be as low at 90k p.a. base. or 7.5k p.m. This is common for banks like HSBC and SMBC also where pple can hit VP v fast but their p.a basic is only at around 80-90k p.a.

thanks for the insights... it's certainly helpful for me and others who are trying to find out more on banks promotion and progression...

also to add on, do sales / commission based employees fall under the same "ranking system"?

as some forumers have pointed out, seems like the title is very much inflated for purpose of doing business with end-consumers. like in the case for insurance agents and property agents as well.

is a VP doing loans a "real" VP? or in actual fact it's just AVP or lower??