Factual Local Bank Salaries - DBS , UOB , OCBC (A commoner climbing up the ranks)

Originally Posted by LuisDiaz

Not uncommon if it’s external hire. Nowadays Foreign bank pay so much higher and if local bank want to attract talents from Foreign bank then have to match their pay. Know a few friends from US banks jump to local banks getting like 12-15k for avp role with like 5-8 yoe

Nope this is total BS and untrue.

Your pay will always be pegged to your role's salary payband.

You can't be AVP and get 12-15k, makes no sense. So what, Associate from JP Morgan where their pay-band is 8-9k come to DBS, get 9k as Associate? this makes 0 sense lol DBS associate cap is 7k.

Foreign banks retrenching....go check the news.....local banks digital transformation....aka want to downside if possible...AI takeover, now u people still dreaming high salary....yes, still possible if u bring in the money...

Originally Posted by Unregistered

Nope this is total BS and untrue.

Your pay will always be pegged to your role's salary payband.

You can't be AVP and get 12-15k, makes no sense. So what, Associate from JP Morgan where their pay-band is 8-9k come to DBS, get 9k as Associate? this makes 0 sense lol DBS associate cap is 7k.

any source for DBS assoc cap is 7k? interested to know.
how about DBS avp cap?
what function/role are u referring to? assuming cap differs depending on function too, e.g. FO vs tech vs ops differ?

Originally Posted by Unregistered

any source for DBS assoc cap is 7k? interested to know.
how about DBS avp cap?
what function/role are u referring to? assuming cap differs depending on function too, e.g. FO vs tech vs ops differ?

Friends work in DBS FO, they were a SEEDer, after 2 years they turned to Associate but for some reason, they're still associate 2 years after that.

So basically they were stuck at 6.8 - 7k for a very long time. Every year they didn't get any pay increment because they hit the ceiling and they didn't qualify for next rank bump which was Senior Associate.

I got a few more at Citibank saying the same thing...

At first I thought every year you will get pay bump like 3-5% etc, but apparently that's not true at all, at least in banks, if you hit your ceiling for your role means you don't get a pay bump at all.

AVP in DBS is around 9-11k last I checked. 9k is the ceiling for Senior Associate.

Also no, the function doesn't matter, the pay band is tied to the rank, not the function / role.

This means that you can be FO Associate but start at a lower pay like 5k while a tech BO Associate can start at 6.5kish in DBS. In the end, both will hit cap at 7k if they don't qualify for rank promotion.

This is why in tech they always recommend people to job hop, because once you hit your ceiling, you are fked and even if you get promoted, you will start at the LOWEST BAND of the next rank pay band...

If you job hop, they will start you in the middle of their new pay-band that is 100% more than your current pay-band range.

Originally Posted by Unregistered

Foreign banks retrenching....go check the news.....local banks digital transformation....aka want to downside if possible...AI takeover, now u people still dreaming high salary....yes, still possible if u bring in the money...

local bank wan sui!!!!

red bank best bank!!!

Originally Posted by Unregistered

local bank wan sui!!!!

red bank best bank!!!

heard local banks now hiring freeze is that true?

Originally Posted by Unregistered

Nope this is total BS and untrue.

Your pay will always be pegged to your role's salary payband.

You can't be AVP and get 12-15k, makes no sense. So what, Associate from JP Morgan where their pay-band is 8-9k come to DBS, get 9k as Associate? this makes 0 sense lol DBS associate cap is 7k.

JPM associate with 8-9k mostly is 601,
It only make sense when they jump to DBS as AVP and draw 10-11k.

Originally Posted by Unregistered

Friends work in DBS FO, they were a SEEDer, after 2 years they turned to Associate but for some reason, they're still associate 2 years after that.

So basically they were stuck at 6.8 - 7k for a very long time. Every year they didn't get any pay increment because they hit the ceiling and they didn't qualify for next rank bump which was Senior Associate.

I got a few more at Citibank saying the same thing...

At first I thought every year you will get pay bump like 3-5% etc, but apparently that's not true at all, at least in banks, if you hit your ceiling for your role means you don't get a pay bump at all.

AVP in DBS is around 9-11k last I checked. 9k is the ceiling for Senior Associate.

Also no, the function doesn't matter, the pay band is tied to the rank, not the function / role.

This means that you can be FO Associate but start at a lower pay like 5k while a tech BO Associate can start at 6.5kish in DBS. In the end, both will hit cap at 7k if they don't qualify for rank promotion.

This is why in tech they always recommend people to job hop, because once you hit your ceiling, you are fked and even if you get promoted, you will start at the LOWEST BAND of the next rank pay band...

If you job hop, they will start you in the middle of their new pay-band that is 100% more than your current pay-band range.

Agree Job hop is a good way. But how many years at least we should stay at the position after hopping?

Originally Posted by Unregistered

Agree Job hop is a good way. But how many years at least we should stay at the position after hopping?

This one really depends,

You shouldn't have 2-3 jobs where you stay only 1 year on your resume, that looks pretty obvious that you're someone who will just leave after 1 year. Longest I would stay is 2 years, always. It's long enough imo.

In general you should be looking at at least 1k+ bump every year if your pay is less than 8k.

So if you start at 5k, you should aim for 6k next year, then 7k, etc. Once you hit around 8-9k then yes, it slows down for obvious reasons. No one keeps hopping and get 20% every time lol you will eventually hit a salary cap unless you're some god tier bro, can get director level then sure, you can probably hit 20-30k per month.

Wait, so you mean to say even for those real FO positions like investment banking, sales and trading, structuring etc, they get capped at 9k and may start lower than BO? Who will wanna join then lol?