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

Originally Posted by Unregistered

MO/BO no exp already start 4k. 4-5 years of exp I'm pretty sure they are close to 7k.

Anyway, how's bonus? Just curious.

1) Assuming they start at 4k, you do know increment is at most 5%? Even if you get a 2 promotions at the 3rd year and 5th year mark (say 20% increment and I'm being really really generous here), you would get at most 6.6k after 5 years. And the OP said above 7k and someone has verified that it's more like 7.5k. How about you try out a role in MO/BO in a local bank and we can reconnect after 5 years just to see how's life for you?

2) It's a known fact that MO/BO and FO have different pay scale at the same rank. The hard truth is that they are a cost-centre and the banks would never pay the same. So yes, AVPs for BO/MO and FO earn differently.

3) "If you're OP, how's bonus given that you're earning a good 50% less in base as compared to peers in BBs/international banks?" - I'm not OP but the fact that you don't know how much FO in local banks earn in terms of base and bonus (and clearly desperate to find out) just goes to show you're a troll or some fresh meat who pretends to know how the world works in local banks and in the process, fish for info. So, no, figure it out yourself.

Unrelated question but are you allowed to do personal investment on the side while you're working in a bank or financial institution? Understand for FO it's defo a strict no-no but was thinking about the rules for MO/BO?

Originally Posted by Unregistered

Unrelated question but are you allowed to do personal investment on the side while you're working in a bank or financial institution? Understand for FO it's defo a strict no-no but was thinking about the rules for MO/BO?

Insider trading

Originally Posted by Unregistered

Please... VP should be more than 6.7k, let alone a FVP.

I suppose there are differences between roles in FO MO BO?

Originally Posted by Unregistered

I suppose there are differences between roles in FO MO BO?

He was talking about entry-level VP role. It is accurate

Originally Posted by Unregistered

He was talking about entry-level VP role. It is accurate

Really? 6.7k for a VP? I'm just thinking a VP would typically have a minimum of 6-7 YoE (could be 10 years for BO/MO especially if there's no additional headcount for VP) regardless of FO/MO/BO. Lowest I would think an entry level VP would command is 8-9k.

Originally Posted by Unregistered

Really? 6.7k for a VP? I'm just thinking a VP would typically have a minimum of 6-7 YoE (could be 10 years for BO/MO especially if there's no additional headcount for VP) regardless of FO/MO/BO. Lowest I would think an entry level VP would command is 8-9k.

uob vp is it?

Originally Posted by Unregistered

He was talking about entry-level VP role. It is accurate

I see. Im not familiar with the job grade and pay range for banking domain. What I understand from the post I applied for is generally a Functional BA role sitting on FVP/VP grade. Looking at the possible range to better nego with HR should there be an offer.

Originally Posted by Unregistered

1) Assuming they start at 4k, you do know increment is at most 5%? Even if you get a 2 promotions at the 3rd year and 5th year mark (say 20% increment and I'm being really really generous here), you would get at most 6.6k after 5 years. And the OP said above 7k and someone has verified that it's more like 7.5k. How about you try out a role in MO/BO in a local bank and we can reconnect after 5 years just to see how's life for you?

2) It's a known fact that MO/BO and FO have different pay scale at the same rank. The hard truth is that they are a cost-centre and the banks would never pay the same. So yes, AVPs for BO/MO and FO earn differently.

3) "If you're OP, how's bonus given that you're earning a good 50% less in base as compared to peers in BBs/international banks?" - I'm not OP but the fact that you don't know how much FO in local banks earn in terms of base and bonus (and clearly desperate to find out) just goes to show you're a troll or some fresh meat who pretends to know how the world works in local banks and in the process, fish for info. So, no, figure it out yourself.

Not OP? Then stfu.

Originally Posted by Unregistered

Paiseh. When you talk about math I thought you really referring to mathematics.

Example:

UOB (MA) Ops - 1st year 4.3k
After 2 years, promoted to next pay grade at 5k minimum.
After another 2 years, promoted to next pay grade at 6k-6.5k minimum.
1 year later, as I have phrase it, would be "close to" 7k.

If you're OP, how's bonus given that you're earning a good 50% less in base as compared to peers in BBs/international banks?

Happy to hear where I've gone wrong. Have many friends in MO/BO Ops programme in both BBs and Local Banks.

Am just genuinely surprised at 7k base for local bank FO (with 5 years of exp)

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