Factual Local Bank Salaries - DBS , UOB , OCBC (A commoner climbing up the ranks) - Page 35 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




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

Reply
 
Thread Tools
  #341 (permalink)  
Old 15-04-2021, 09:10 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
If you make 200k using 6 years since fresh graduates, it is already very good. I am at my 5.5 year mark since fresh graduate and currently getting 140k only.
This is for FO right?

Reply With Quote
  #342 (permalink)  
Old 15-04-2021, 09:57 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Why do you say iron rice bowl? Thought many speculate that BO can be outsourced easily?
I think you have never worked in a BO role recently in DBS before right

You are right, but that was in the past. Alot of manual operational work etc. had since then been transferred to DBS offshore team and also some have already been outsourced. So most of the time in BO role in DBS ure engaging in the bigger scale projects like process improvement etc. Even graduates who enter now rarely even get to touch any operational work, they get involved in the proj directly.

Reply With Quote
  #343 (permalink)  
Old 15-04-2021, 10:52 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hard to define average la actually, DBS score based on the balanced scorecard and everyone keeps their ratings private, u can't kaypoh ask around also. My point is, even though my starting at 3.8 is actually quite low, dbs progression especially in the BO is actually quite stable one if u stay with them. Many of my peers got discouraged by the low initial salary and left.
As compared to your colleagues/peers? Are you considered average or fast/slow in making VP?

Reply With Quote
  #344 (permalink)  
Old 15-04-2021, 10:54 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Why do you say iron rice bowl? Thought many speculate that BO can be outsourced easily?
Most BO operations that are brain dead / can be outsourced are already obsolete/outsourced to cheaper locations like India.

Nowadays BO esp grad programmes are focused on projects like what the guy above said. Especially true for international banks.
Reply With Quote
  #345 (permalink)  
Old 15-04-2021, 11:32 PM
Unregistered
Guest
 
Posts: n/a
Default

L
Quote:
Originally Posted by Unregistered View Post
As compared to your colleagues/peers? Are you considered average or fast/slow in making VP?
Of my batch they are around 3 or 4 more people left here if I'm not wrong. Im still in contact with 2 of them, 1 have been promoted to vp slightly earlier than me, the other is to be promoted soon from avp i suppose
Reply With Quote
  #346 (permalink)  
Old 15-04-2021, 11:33 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Most BO operations that are brain dead / can be outsourced are already obsolete/outsourced to cheaper locations like India.

Nowadays BO esp grad programmes are focused on projects like what the guy above said. Especially true for international banks.
If you are an emploee, not sure if you should disclose this lol
Reply With Quote

  #347 (permalink)  
Old 15-04-2021, 11:37 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
If you are an emploee, not sure if you should disclose this lol
There is not much specifics and nothing sensitive in there lol
Reply With Quote
  #349 (permalink)  
Old 17-04-2021, 02:53 AM
Unregistered
Guest
 
Posts: n/a
Default salary

hi all. sharing my personal UOB experience here, as i see some potential misinformation from other posts. Below is not front office related.

Background:
Have left UOB for 3-4 years now. Initially, i Joined UOB as AVP after 4 years work experience elsewhere after graduation. middle office (2nd line function) role supporting business. Currently in foreign bank.

Quick Summary;
1. Each bank have vastly different rank scales and band.

2. Promotion and increment for those on associate/MA programmes are far FAR BETTER. FYI, these are top 5 percentiles of the bank performers usually.

3. UOB Rank Scale: SO > AM > Manager > AVP > VP1 > VP2 > FVP > SVP > Exec Director > MD (1-3)

4. Promotion and increment differs depending on your department.

Detailed explanation:
1. Each bank have vastly different rank scales and band. e.g. UOB VP 1, is an associate level in JP Morgan (i interviewed at JPM, didn’t accept). Yes the difference is huge, but that’s because JPM rank structure is leaner (Analyst > Associate > VP and so on) and their salaries are generally higher (comparing equal experience in years). Always focus on salary progression, title will follow itself.

2. Promotion and increment for those on associate/MA programmes are far FAR BETTER. BUT, these are not your average joes. in my department, we only had less than 3% of staff as MA. Every two years they get promoted, but usually slows down once u hit a certain rank. So please don’t go compare yourself with them unless you are one, that is life.

3. UOB Rank Scale (based on my time there): Senior Officer > Asst. Manager > Manager > AVP > VP1 > VP2 > FVP > SVP > Exec Director > MD (1-3). i heard stock allocations start at ED level onwards. hence this is where a lot of senior folks start to stay.

4. Promotion and increment differs depending on your department and direct boss and Departmnt boss visibility. it’s worse in Operations versus Risk/Compliance. I know an Operations uncle (40+yo) that was an AVP. Again, that is life. Ops is a cost center, do more with less. Some uncles in my department are stuck at SVP level.

5. Bonus is 3-4.5 months. increment with no promotion for me was 2-3%. promotion increment can range 11-15%.

overall, UOB was one of my happiest times in life (for my department). pay wasn’t the best in market, but life was good. people were nice and family like. but of course, there are horror stories too of horrid bosses in some teams but every bank has this.

in foreign banks, they pay u high but ur stress level and workload is way way higher. promotion is not easy too. in fact, u actually fight for ur survival in foreign banks. my ex foreign bank team colleagues were fully replaced one by one due to change in department head. in local banks, u can take a leisure stroll and work for life as long as u don’t commit something bad/nasty at work.

to all out there. if you’ve read this far, hope this helped somehow. stick ur head down, work smart. financial industry is already better than others generally. so be appreciative of what we have.

if you’re job hunting for salary, make sure the banks culture/progression matches what you want (eg work life balance or increment) or who you are (outspoken vs submissive nature).

all the best!
Reply With Quote
  #350 (permalink)  
Old 18-04-2021, 11:48 PM
Unregistered
Guest
 
Posts: n/a
Default

Can i know the salary on average for a Relationship Manager or a DBS Treasures manager?
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Local Vs Foreign Bank Jobs Income and Jobs 18 01-02-2018 07:34 PM
jump from foreign bank to local bank arrownarrow Income and Jobs 4 30-07-2017 06:35 PM
DBS vs UOB vs OCBC: Among these 3 local banks, which is the best to work in? dreamzknight Income and Jobs 11 05-07-2016 09:54 PM
SPF : What are the salaries of an ASP and above ranks. curious_george Income and Jobs 2 22-06-2015 10:16 AM
$3.5K for an IT role in a local bank unknown Income and Jobs 11 14-03-2014 02:13 PM

» 30 Recent Threads
UOB Management Associate Program ( 1 2 3... Last Page)
1,452 Replies, 783,930 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,301 Replies, 4,981,418 Views
Career as Teacher ( 1 2 3... Last Page)
10,818 Replies, 6,661,094 Views
Compare civil service salary ( 1 2 3... Last Page)
16,342 Replies, 12,452,060 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
169 Replies, 308,687 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
678 Replies, 387,858 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 813,707 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,920 Replies, 2,901,955 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,713 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,323,161 Views
Lawyer Salary ( 1 2 3... Last Page)
21,013 Replies, 10,327,547 Views
GovTech ( 1 2 3... Last Page)
5,159 Replies, 2,162,195 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 357,864 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,049 Replies, 440,352 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,374,783 Views
ST Electronics ( 1 2 3... Last Page)
3,767 Replies, 1,543,991 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,794 Replies, 1,042,931 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,337 Replies, 4,767,513 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,826 Replies, 4,655,731 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,282 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,738,064 Views
MX12 reappointed at MX11
8 Replies, 757 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
307 Replies, 368,614 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
749 Replies, 405,191 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,329 Replies, 1,141,656 Views
MFA- Foreign Service... ( 1 2 3... Last Page)
54 Replies, 84,905 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
511 Replies, 268,359 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
206 Replies, 134,416 Views
Singapore Airlines ( 1 2 3)
22 Replies, 11,250 Views
NUS (National University of... ( 1 2 3... Last Page)
318 Replies, 318,768 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:16 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2