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13-04-2021, 07:18 PM
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Quote:
Originally Posted by Unregistered
Depends on subrank. Within VP there are different tiers for example VP3, VP2, VP1. I believe low VP aka VP3 in BO is sub 10k. BO is after all the dumping ground of finance. Thankless when you do a good job, because that's what everyone from FO to MO to customer expects. But when you screw up, all the blame goes to BO. The banking animal kingdom hierarchy: BO slave to FO and MO, MO sometimes slave to FO, everyone slave to customer.
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Well everyone function has its pros and cons. FO high compensation but high risk. Lose a client — you’re fked. Didn’t flag risk/trade not processed correctly? MO/BO fked.
I think even junior VP in local banks BO start at 10 and up though.
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13-04-2021, 07:50 PM
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Quote:
Originally Posted by Unregistered
Well everyone function has its pros and cons. FO high compensation but high risk. Lose a client — you’re fked. Didn’t flag risk/trade not processed correctly? MO/BO fked.
I think even junior VP in local banks BO start at 10 and up though.
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I made 200k+ in 6 years working in but after going through the comments in this forum. I feel like average.
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14-04-2021, 09:55 PM
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Quote:
Originally Posted by Unregistered
I made 200k+ in 6 years working in but after going through the comments in this forum. I feel like average.
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If you make 200k using 6 years since fresh graduates, it is already very good. I am at my 5.5 year mark since fresh graduate and currently getting 140k only.
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15-04-2021, 12:13 AM
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Quote:
Originally Posted by Unregistered
Hi guys! Don't give up! My starting salary was quite low too! I have been in a back office role in one of the local banks here since graduation and the progression has been great.
2013 to 2015 - Graduate Associate 3.8k to 4.4k
2015 to 2016 - Associate 4.7k to 5.0k
2016 to 2018 - Senior Associate 6.2k to 7.5k
2018 to 2020 - AVP 8.5k to 10.3k
2021 - VP 13.5k (current)
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is there a alternate path called Relationship manager?
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15-04-2021, 05:01 PM
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Can anyone advise why some banks keep reposting the same jobs? Keep reposting even though the reference number and job title same.
If they do that then means no hope already?
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15-04-2021, 07:44 PM
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Quote:
Originally Posted by Unregistered
Hi guys! Don't give up! My starting salary was quite low too! I have been in a back office role in one of the local banks here since graduation and the progression has been great.
2013 to 2015 - Graduate Associate 3.8k to 4.4k
2015 to 2016 - Associate 4.7k to 5.0k
2016 to 2018 - Senior Associate 6.2k to 7.5k
2018 to 2020 - AVP 8.5k to 10.3k
2021 - VP 13.5k (current)
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Are you considered an average performer?
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15-04-2021, 08:59 PM
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Quote:
Originally Posted by Unregistered
Are you considered an average performer?
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Hard to define average la actually, DBS score based on the balanced scorecard and everyone keeps their ratings private, u can't kaypoh ask around also. My point is, even though my starting at 3.8 is actually quite low, dbs progression especially in the BO is actually quite stable one if u stay with them. Many of my peers got discouraged by the low initial salary and left.
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15-04-2021, 09:02 PM
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Quote:
Originally Posted by Unregistered
Hard to define average la actually, DBS score based on the balanced scorecard and everyone keeps their ratings private, u can't kaypoh ask around also. My point is, even though my starting at 3.8 is actually quite low, dbs progression especially in the BO is actually quite stable one if u stay with them. Many of my peers got discouraged by the low initial salary and left.
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And alot of people dont understand that because DBS core operations is their consumer banking vs other international banks and IBs, their BO ops team is very very big and essential to the whole operations. So your job here is almost like an iron ricebowl, unless something big issue happens to DBS, which is unlikely because its backed by alot of govt related entities
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15-04-2021, 09:05 PM
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Quote:
Originally Posted by Unregistered
And alot of people dont understand that because DBS core operations is their consumer banking vs other international banks and IBs, their BO ops team is very very big and essential to the whole operations. So your job here is almost like an iron ricebowl, unless something big issue happens to DBS, which is unlikely because its backed by alot of govt related entities
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Why do you say iron rice bowl? Thought many speculate that BO can be outsourced easily?
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