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

I can share mine a bit also, local bank:

Started as FO analyst in end 2009:

Analyst (2009): average 37k pa (global financial crisis fml)
Assoc/Snr Assoc (2013): average 58k pa
AVP (2014): average 92k pa
VP (2017): average 137k pa
SVP (2021): ~160k pa (covid fml)

Bonuses typically 6-10 mths

Originally Posted by Unregistered

I see, that's really insightful! Based on your knowledge, if a junior VP in Ops starts at 8-10k after 7-8 years of experience (30-32 years old), and if he/she doesn't make it to MD, what would the typical base salary be like for someone at 40 years old with roughly 16-18 years of experience? Thanks in advance!

I can't say for sure; simply because by then, the standard deviation will be really huge.
An educated guess: 15-20k per month at the least.

Originally Posted by Unregistered

I can share mine a bit also, local bank:

Started as FO analyst in end 2009:

Analyst (2009): average 37k pa (global financial crisis fml)
Assoc/Snr Assoc (2013): average 58k pa
AVP (2014): average 92k pa
VP (2017): average 137k pa
SVP (2021): ~160k pa (covid fml)

Bonuses typically 6-10 mths

Thanks alot for sharing! May i know which div/ dept u are in?

Originally Posted by Unregistered

I can share mine a bit also, local bank:

Started as FO analyst in end 2009:

Analyst (2009): average 37k pa (global financial crisis fml)
Assoc/Snr Assoc (2013): average 58k pa
AVP (2014): average 92k pa
VP (2017): average 137k pa
SVP (2021): ~160k pa (covid fml)

Bonuses typically 6-10 mths

Thanks for sharing. There was another person who posted that he/she was recently made VP in a BO role and was drawing c.13.5k pm. Just trying to reconcile the two different salary amounts provided - are you part of an MA programme? Is there a higher salary range for an MA grad?

Originally Posted by Unregistered

At putting myself at risk of overgeneralizing, I can attempt to answer this:

Salary: You will find many people who move between BBs (GS, JPM, MS). General consensus I've heard is GS pays best for support functions; see WLB for reason.

WLB: Probably the poorest amongst the 3 (again, from first hand experience and word of mouth from people who've been at both). You've probably heard/seen the 100 hour week survey from GS investment bankers. Although support functions don't work as long, the mindset/culture is the same. Management constantly expects you to put out your best. Someone who only does daily work (without taking on extra stuff, regardless of whether you volunteered or it coming your way), will probably see a much slower progression than someone who constantly pushes to do more. Ops people generally work 11-12 hours on average, based on what I see. Although not asked to do so, many do log in from home during the weekends, to catch up/continue working on other deliverables.


Progression/Growth: Again from first hand and word of mouth, I would feel that GS is the best as well. Biggest reason to this, is that I find it a lot easier to move teams/functions/divisions within GS, compared to other BBs/local banks. I personally have interviewed internally for FO positions within GS. Almost all my batchmates have moved teams within 3 years, and a considerable subset of which have moved on to FO as well (if that's your thing). I personally decided against it because the position I interviewed for required me to be based in New York, for which I was unwilling because of personal issues then. Even then, I have moved across multiple teams.

1 trend I notice nowadays with the rise of fintech, is that many small trading/investment/fintech houses are founded by GS alumni. So a lateral move to other firms does feel a weee bit easier as well, as alumni do know how GS people generally work.

All that being said, GS does go through firing seasons. Not all BBs do that. To thrive in GS and avoid being on the chopping block, does require some sort of sacrifice in your personal life, regardless of whether it is lesser time spent with family or increased stress (even for BO).

11-12 hours average for BO is insane. Just curious, those that have successfully moved to FO - where do they end up (in terms of division and location)?

Will be joining a competitor BB soon.

Originally Posted by Unregistered

Thanks for sharing. There was another person who posted that he/she was recently made VP in a BO role and was drawing c.13.5k pm. Just trying to reconcile the two different salary amounts provided - are you part of an MA programme? Is there a higher salary range for an MA grad?

I’m not part of MA program. Pay ranges across ranks overlaps quite a bit, eg an experienced AVP could draw more than a junior VP, and an old bird VP could earn more than new bird SVP.

Originally Posted by Unregistered

11-12 hours average for BO is insane. Just curious, those that have successfully moved to FO - where do they end up (in terms of division and location)?

Will be joining a competitor BB soon.

Mostly to sales or sales-trading related roles, because the support function for securities (sales n trading) has the largest headcount. A smaller subset to asset management FO/ private wealth/investment banking.

All the best in your career. BBs pay relatively well no matter the function
Not rich, but at least comfortable living =)

Originally Posted by Unregistered

I can share mine a bit also, local bank:

Started as FO analyst in end 2009:

Analyst (2009): average 37k pa (global financial crisis fml)
Assoc/Snr Assoc (2013): average 58k pa
AVP (2014): average 92k pa
VP (2017): average 137k pa
SVP (2021): ~160k pa (covid fml)

Bonuses typically 6-10 mths

Does the above figures include bonus or are those base salaries?

Originally Posted by Unregistered

Mostly to sales or sales-trading related roles, because the support function for securities (sales n trading) has the largest headcount. A smaller subset to asset management FO/ private wealth/investment banking.

All the best in your career. BBs pay relatively well no matter the function
Not rich, but at least comfortable living =)

Slightly off tangent - but just curious what would comfortable living look like in your point of view? i.e. what salary at what age would that be? And for purposes of this exercise, comfortable living is like married with 2 kids, owning a condo, driving a conti car? Happy to hear what others think as well.

Originally Posted by Unregistered

Does the above figures include bonus or are those base salaries?

Correct me if I'm wrong but those figures seem to be base salaries only (source: am in that particular local bank too)