SVPs in banks

Originally Posted by Unregistered

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??

to add on further, i feel that at our age (29yo)... 80-90k p.a. is very good money already considering most of my peers do not even earn > S$5k per month and they are from local universities like NTU / NUS.

most including myself only earn approx S$50-60k++ per annum... around S$4k~ median salary with 3-5 years experience.

Originally Posted by Unregistered

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??

VP for client facing roles I believe is manager level, not real VP. In operations, VP is real VP, and it takes 10 years for somebody to get there from entry level.

Originally Posted by Unregistered

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??

Don't get caught up in titles. It's the same reason fresh grads in MTI go in as AD.

Salary is a good gauge of the true position.

Its true on the rank inflation. I used to work in a bank but went over to join a MNC. My title is analyst with close to 4 years experience but I am getting close to 85k. This could be the pay range of avps in banks with 5 to 7 years experience.

Some banks are known for playing rank. When you are AVP, VPs from other department will tend to ignore you until you get your boss to talk to them. Meanwhile, when you are VP you are easily able to order AVPs around.

Originally Posted by Unregistered

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

I guess the bands are just for estimation but are quite accurate for majority of the cases.

AVP for most Banks do not earn more than 120k and more.
-Calculation of 14 months package (12 months basic + 2 months bonus) - 8.5k/mth

Probably AVP can be more than 120k, if they are older than certain age, say like 45 years old and older or so, maybe.

As what others had mentioned, most graduate with Degree will end up at VP eventually at 40s which is a equivalent "Manager" title at MNCs.

Originally Posted by Unregistered

Some banks are known for playing rank. When you are AVP, VPs from other department will tend to ignore you until you get your boss to talk to them. Meanwhile, when you are VP you are easily able to order AVPs around.

I will say that this is true to certain extent, depending on nature of work. But if the office politics are like this, then play the game. Cant beat them, join them.

But majority from what I know does not really play this kind of game, it is a waste of time and we have better things to do.

-Ken09

Originally Posted by Unregistered

Its true on the rank inflation. I used to work in a bank but went over to join a MNC. My title is analyst with close to 4 years experience but I am getting close to 85k. This could be the pay range of avps in banks with 5 to 7 years experience.

This topic general context is on Bank, therefore it is true that title inflation is there, as what others had pointed out, the newly promoted VP from Bank-A and Bank-B is definitely not equal in the sense of salary package.

A lot of the information on this forum is based on hearsay, some numbers are very bloated. It is understandable that people tend to remember bigger numbers that shocked them and like to quote such as if they were part of it and make themselves feeling superior. The truth is actually not that difficult to find out though. IRAS publish data every year from which we can easily identify how much percentile of the working population actually earn how much. Even for banking, 200k p.a. is also consider quite a decent pay for someone with 10-15 years of working experience. And the upwards corporate ladder is not easy for every to climb - simple truth is, in any industry, top of the pyramid is always small and tough to get to.

Just to provide what's relevant to this thread, I can share my own employer's corporate level and salary range (annual base) as of 2017. It is one of the top banks from US, one of the systemically important ones
AVP: 75k-150k
VP: 100k-200k
SVP: 150k-300k
ED: 200k-400k
MD:250k-500k

my typical VP colleagues are in their late 30s to early 40s, with 10-15 years working experience. some high achievers reach SVP before 40 but quite rare. MDs are typically those with 20+ years of experience in the industry.

MD level onwards, part of the compensation will be stock. the higher the level, the more of the stock component. our CEO's base salary is 1.5mil, but his total package amounts to 20mil+, majority is stock.

to add more context for expats, for international locations, multiply the above figure with the below coefficients:
New York/San Francisco: x1.5
Chicago/New Jersy: x1.2
Rest of US: x1.1
HongKong: x1.15
Japan: x0.9
China/South Korea: x0.85
Taiwan: x0.7
India: x0.4
Longdon/Frankfurt: x0.8
Belgium: x0.9

These figures are for corporate banking. For investment banking there's another system, generally you multiply these number with 1.5 for same grade in investment banking

Originally Posted by Unregistered

Just to provide what's relevant to this thread, I can share my own employer's corporate level and salary range (annual base) as of 2017. It is one of the top banks from US, one of the systemically important ones
AVP: 75k-150k
VP: 100k-200k
SVP: 150k-300k
ED: 200k-400k
MD:250k-500k

Thanks for the good info. As these are base salary figures, could you also provide bonus figures?