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

Originally Posted by Unregistered

Depends if you hold a quantitative degree, most of the traders on my desk are from triple E first class from Nus, the rest ivy league. If you are neither, your chances of going to FO is as good as you striking lottery.

^ I’m guessing this is DBS IB cuz tons of BB S&T/IB analysts are filled with T10 undergrads.

In any case, if cash and time ain’t a constraint. Doing a target MBA or a quantitative MSc might give you some standing. IB depts do hire fresh MBA associates.

Not everyone has the acumen to be in trading. The higher earning power in front office may not justify if you are not suited for a trading role. If you feel are concerned about increment and promotion within ops, try to explore other ways to earn more.

Jobs are no longer secure in this environment. It is more important to obtain financial literacy instead of exchanging time for money which is an endless pursuit.

Just providing another perspective.

Originally Posted by Unregistered

^ I’m guessing this is DBS IB cuz tons of BB S&T/IB analysts are filled with T10 undergrads.

In any case, if cash and time ain’t a constraint. Doing a target MBA or a quantitative MSc might give you some standing. IB depts do hire fresh MBA associates.

I'm actually on desk of a foreign bank.

Originally Posted by Unregistered

Bro, if you have no promotion in ops, you deserve getting 3% your whole life. That's all I can say. If you think avp and vp make alot in ops you better think again. I've known a couple dudes who are avps making 5k with 2 months bonus, not everyone makes that low a basic, but I know quite a few. There are also vps who average 8k, Better ones 10k. These are purely ops scale. And some most ppl get stuck at avp for fkn long.

How much to expect for promotion increment? Since normal increment is only 3%, promotion will not be a lot?

I think it’s better that one move around hopping better

Originally Posted by Unregistered

^ I’m guessing this is DBS IB cuz tons of BB S&T/IB analysts are filled with T10 undergrads.

In any case, if cash and time ain’t a constraint. Doing a target MBA or a quantitative MSc might give you some standing. IB depts do hire fresh MBA associates.

I am poster #182. With this economy downturn, how long more should I at least continue to farm? I just recently joined only and my first job is not banking.

After reading from page 1, the consensuses is to get out from ops asap. But the thing is what transferable skills can you learn? U won't learn valuation, no dcf, no front office related skills.

Originally Posted by Unregistered

How much to expect for promotion increment? Since normal increment is only 3%, promotion will not be a lot?

I think it’s better that one move around hopping better

Again, that depends.. I've witness 6.5% to 11% in my ops time.nothing more.

Originally Posted by Unregistered

I am poster #182. With this economy downturn, how long more should I at least continue to farm? I just recently joined only and my first job is not banking.

After reading from page 1, the consensuses is to get out from ops asap. But the thing is what transferable skills can you learn? U won't learn valuation, no dcf, no front office related skills.

For a start, if you are outside of the trade life cycle, you are the furthest away from an FO job. That being said, if you are within the trade life cycle, but in the back office, you also have very little applicable skillset. IMO, if you are in a middle office function such as trading support, verification of trade bookings, booking trades, unwinding trades, fixing trades you are the closest to an FO role. But without luck, and if you are not a freaking solid top tier performer such that the sales and trading desk knows who you are and count on you for many ad-hoc issues and problems, AND knows you are keen on an FO role, you have 0 chance. Even if you have all the above stated you could still stand minimal opportunity. There is no proven route to how an ops person can move to FO.

You have to be resourceful enough to figure your way around people and work and connections.

Originally Posted by Unregistered

I'm actually on desk of a foreign bank.

cimb? maybank? hahahah

Originally Posted by Unregistered

cimb? maybank? hahahah

Er, no. I live too well to get bothered by antics of yours. Lol.

Originally Posted by Unregistered

Er, no. I live too well to get bothered by antics of yours. Lol.

replying within 18 minutes, you must be really free since US market just opened and you're on the forum eh Mr CIMB?