SVPs in banks - Page 2 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




SVPs in banks

Reply
 
Thread Tools
  #11 (permalink)  
Old 29-01-2018, 12:50 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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

Reply With Quote
  #12 (permalink)  
Old 29-01-2018, 01:34 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.

Reply With Quote
  #13 (permalink)  
Old 29-01-2018, 04:50 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.

Reply With Quote
  #14 (permalink)  
Old 29-01-2018, 07:22 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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?
Reply With Quote
  #15 (permalink)  
Old 30-01-2018, 01:20 PM
Unregistered
Guest
 
Posts: n/a
Default

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
Reply With Quote
  #16 (permalink)  
Old 30-01-2018, 03:35 PM
Unregistered
Guest
 
Posts: n/a
Default

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

  #17 (permalink)  
Old 30-01-2018, 06:10 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.
Reply With Quote
  #18 (permalink)  
Old 31-01-2018, 12:13 AM
Unregistered
Guest
 
Posts: n/a
Default

PhDs comes in as AVPs typically
Reply With Quote
  #19 (permalink)  
Old 31-01-2018, 08:21 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.
Reply With Quote
  #20 (permalink)  
Old 31-01-2018, 01:13 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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??
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Banks' Pay and Bonuses Jobs Income and Jobs 557 14-02-2024 11:09 PM
Local Banks vs Foreign Banks dreamzknight Income and Jobs 7 23-06-2016 10:32 PM
career in IT at banks like UBS, CS ahboy82 Income and Jobs 11 09-03-2014 11:21 AM
Banks VS Big 4 Audit Jobs Income and Jobs 5 09-11-2013 12:02 AM
IT in banks sochews Income and Jobs 7 08-12-2011 09:45 AM

» 30 Recent Threads
Career as Teacher ( 1 2 3... Last Page)
10,851 Replies, 6,670,821 Views
Why Is Having a Google Virtual...
1 Replies, 6,764 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,240 Replies, 3,399,773 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,805 Replies, 1,045,389 Views
JP Morgan ( 1 2 3... Last Page)
199 Replies, 173,413 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,319 Replies, 4,984,846 Views
GovTech ( 1 2 3... Last Page)
5,163 Replies, 2,164,770 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,050 Replies, 440,778 Views
Mining Industry ( 1 2 3... Last Page)
80 Replies, 74,514 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,340 Replies, 4,772,541 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
171 Replies, 309,560 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
680 Replies, 388,769 Views
Compare civil service salary ( 1 2 3... Last Page)
16,343 Replies, 12,458,031 Views
Lawyer Salary ( 1 2 3... Last Page)
21,015 Replies, 10,331,194 Views
ST Electronics ( 1 2 3... Last Page)
3,768 Replies, 1,545,289 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,457 Replies, 784,776 Views
Is getting a PMP worth it ?
4 Replies, 7,171 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,722 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,903,563 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,435 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,657,490 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 369,376 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 814,027 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,828 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,324,966 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,782 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,751 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,893 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,739,058 Views
MX12 reappointed at MX11
8 Replies, 851 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:33 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2