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

[QUOTE=Unregistered;299313]

Originally Posted by Unregistered

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?

Can you explain these 2 rebalance rounds in your case a bit more? I heard different people are getting different effects on their bonus.

a -> sa , 7.5% promotion increment lol what a joke.
i actually thought promotions will be 10-15%. meh. Really disappointed in this company. Looking for an out soon.

I dunno u believe it or not. A lot of times is about luck and timing. This year, although all the 3 local banks made record profits, my sense from ppl from other local banks is that increment pales in comparison from other years. bonus is still good 4-6 months.maybe is a timing and luck issue. Having spent 3-5 years in a local bank, I have gotten 10-20% increment every year. Coz I was lucky. Market adjustment I got it. Inflation adjustment I got it. I also worked in foreign banks before. When I thought foreign banks give huge pay, for one foreign bank. I was damn disappointed. Coz it was the first time I got 0 increment. I think sometimes is fate de. Maybe next year would be better

Originally Posted by Unregistered

I dunno u believe it or not. A lot of times is about luck and timing. This year, although all the 3 local banks made record profits, my sense from ppl from other local banks is that increment pales in comparison from other years. bonus is still good 4-6 months.maybe is a timing and luck issue. Having spent 3-5 years in a local bank, I have gotten 10-20% increment every year. Coz I was lucky. Market adjustment I got it. Inflation adjustment I got it. I also worked in foreign banks before. When I thought foreign banks give huge pay, for one foreign bank. I was damn disappointed. Coz it was the first time I got 0 increment. I think sometimes is fate de. Maybe next year would be better

Which foreign bank is that?

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.

that has changed somewhat for DBS over the past 2 years where pay rebalancing had been done to put some of the bonus pay into guaranteed pay (base), roughly speaking for VP and below, bonus now less than before than 1 month or so, but base has been raised to make it look more competitive. I feel it's a better move. For majority of bank's function, business is less volatile so more base less bonus is more stable.

this doesn't apply to higher rank where bonus will be the main driver or motivation for performance, so SVP and above has seen less of such pay rebalance.

Originally Posted by Unregistered

What is the ceiling salary of SVP in local banks for control function such as audit，risk and compliance.

heard for DBS it's 26k or 28k. once you hit ceiling and your role is capped at that rank, then likely no more increment any more. only way out is change job, either internally or jump boat.

[NoComment222]

how is the pay in banks now

[OOYYKOO]

Does anyone know what is the base pay range for strategic advisory analyst/associate position for DBS? I see people from ex Seatown/BNP Paribas coming here

Originally Posted by NoComment222

how is the pay in banks now

beats most other industry except those tech companies that work you 996 and does routine layoff to "refresh" the talent

Originally Posted by Unregistered

beats most other industry except those tech companies that work you 996 and does routine layoff to "refresh" the talent

It is also cheaper to hire young talents.