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

Massive layoffs coming, brace yourself

Originally Posted by Unregistered

Previously was in foreign banks Compliance function drawing 2 months bonus generally. Have worked in local bank for some years. Bonus is always 4-6 months also control function. 1.3 months is very low as local bank compensation structure is heavy on bonus.

For info, I did not get below target. I got OT. Which seems very weird.

Are u from BOS? I heard BOS compensation is getting worse. If not, I also dunno why is much lower than other local bank bonus. If u are AVP, u should be getting minimum 3 months bonus. Coz I know some local banks they paid the lower runk very poorly like senior officers in UOB are getting really pathetic increment and bonus. But if u are not those senior officers low rank and not from BOS, I really dunno why. Maybe is your department head too cui to negotiate for your department.

Originally Posted by Unregistered

Hello, like to check. Anyone from local bank kena 1.3 month bonus ah? Cannot be only me right? AVP rank.

This is not the norm unless you are in tech ops. The local banks all have a special stream for tech employees due to competition for manpower with the tech industry during Covid. The people hired through this stream have much higher basic. Now because of tech oversupply, the banks may lower the bonus.

I’m in uob. Can chk if there are different tiers of grade 3?
Like higher tier of 3 get more months of bonus?

I am from UOB too. Hmmm Grade 3 has decimal points de. This year PEAK I dun see the decimal points at all. Dunno issit I damn lousy or they hide the decimal points. Ya u won’t know how u stand among your rank in your department de. But your bonus will tell. I am the previous poster of 4.5 months bonus and 2% increment. Was the worse year since I joined some years ago. Last time the increment quite good de like 10% not fake if u dun believe. But this year when I ask around those peers willing to share, increment sucks like 2-3%. Which is considered very bad for UOB. I feel the 3 local banks are controlling cost now. They still give good bonus even for control function around 4-6 months. But they more stingy with increment now.

most foreign banks dishing out 2-3 months bonus while local banks only 4 months this year.... really terrible comps sia

5% increment, 6 months bonus. Non-promotion year. Local bank. Not in tech/ops nor in frontline/revenue-generating function.

Originally Posted by Unregistered

Are u from BOS? I heard BOS compensation is getting worse. If not, I also dunno why is much lower than other local bank bonus. If u are AVP, u should be getting minimum 3 months bonus. Coz I know some local banks they paid the lower runk very poorly like senior officers in UOB are getting really pathetic increment and bonus. But if u are not those senior officers low rank and not from BOS, I really dunno why. Maybe is your department head too cui to negotiate for your department.

Nope. Not from BOS. From sg biggest bank. Any chances do you all know if base pay affects the bonus? Like if you draw 5k, then you get 3months (assume OT) and if your draw 7.5k then 2 months?

Originally Posted by Unregistered

This is not the norm unless you are in tech ops. The local banks all have a special stream for tech employees due to competition for manpower with the tech industry during Covid. The people hired through this stream have much higher basic. Now because of tech oversupply, the banks may lower the bonus.

It’s true I’m in tech. But
1. I joined in two years ago. Shouldn’t be “during covid” anymore.
2. During recruitment HR also say avg bonus is 3months. Not sure if I fit under the category you described though.

[QUOTE=Unregistered;299231]Nope. Not from BOS. From sg biggest bank. Any chances do you all know if base pay affects the bonus? Like if you draw 5k, then you get 3months (assume OT) and if your draw 7.5k then 2 months?

I don't think so. Same bank, had two years consecutive pay rebalancing (should result in lower bonus) , and consistent 3.5-4mths bonus in back office across the years.

Maybe you're alrdy in the middle/upper range of your grade/rank?