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

Originally Posted by Unregistered

Yup, you are right. The figures I shared earlier mostly relate to grad program hires as indicated. For MO/BO program, headcount is less than 10 for each BB every year (JPM/GS/MS/UBS/CS/Citi). The number is slightly higher for local banks. Note that the number of FO positions every year is also less than 10 for BB grad program.

10 includes ex-SAs who were offered FT conversion btw. Most of these positions are filled by them. Only have opening for straight FT intake if there’s a sudden requirement/interns renege on their return offer.

Yeps there are hardly a good amount of FO grad openings if you're not from the summer analyst program and converted. I do remember several (but very very few) slots being offered because of the reasons u stated above (interns renege / increase in business need).

Originally Posted by Unregistered

Banking VP can be reached within 6-9 years. VP in other industries will easily take you 15 years. Hence the difference.

No one goes to banking thinking VP is the holy grail (although it’s a 5 digit income). Those with ambition aim for director and above.

Agreed - settling at VP for the rest of your life is not a bad thing frankly. everyone has their own goals in life, some wanna rake that 500k p.a as an MDR, some settle for 250k as a DIR and others are good with 150k as a VP

Regardless, if you do reach any one of the above, you are v fortunate already and already the top 10% of the population so let's not take things for granted.. majority don't even earn 100k p.a. when they reach their 40s

Originally Posted by Unregistered

Agreed - settling at VP for the rest of your life is not a bad thing frankly. everyone has their own goals in life, some wanna rake that 500k p.a as an MDR, some settle for 250k as a DIR and others are good with 150k as a VP

Regardless, if you do reach any one of the above, you are v fortunate already and already the top 10% of the population so let's not take things for granted.. majority don't even earn 100k p.a. when they reach their 40s

Str8 facts. Some VPs in BO/MO can reach up to 200k pa (depending on seniority and experience). Easily within 75th percentile of your peers.

Originally Posted by Unregistered

After like 10 years in the workforce, the titles matter less but the money is what matters more.

Also for the previous poster who said "Banking VP can be reached within 6-9 years":
- Yes if you're FO, 6 years to VP is possible
- If you're BO/MO, i would never put a number to it because it varies tremendously (the best performers probably in 8 years, the avg maybe in 10-11 years, and the rest probably never)

I'm in an FO in a BB. Getting my associate in 4 months. The bulk of settlements VPs for my product group have been in the industry for 15 years. 3 of the AVPS are beyond 8 years experience.

Originally Posted by Unregistered

I'm in an FO in a BB. Getting my associate in 4 months. The bulk of settlements VPs for my product group have been in the industry for 15 years. 3 of the AVPS are beyond 8 years experience.

thanks for sharing - the ppl in the forum needs to know that just because you're in a BB FO/MO mean you're guaranteed a VP in 8 years... yes it may happen for some, but it's far and few between and depends on a variety of factor including luck, connections, performance, biz, etc. many ppl don't get promoted and they just hop to another bank in hopes for a better chance, some continue to pia..

Originally Posted by Unregistered

Agreed - settling at VP for the rest of your life is not a bad thing frankly. everyone has their own goals in life, some wanna rake that 500k p.a as an MDR, some settle for 250k as a DIR and others are good with 150k as a VP

Regardless, if you do reach any one of the above, you are v fortunate already and already the top 10% of the population so let's not take things for granted.. majority don't even earn 100k p.a. when they reach their 40s

secretlab ian ang laugh at all you losers aspiring to be director or VP in bank.

i made 500k from stock market i also laugh at all you losers. dont know how many years u all need to slog like dog then can reach my level. somemore my capital can still continue rolling and growing in the stock market.

Originally Posted by Unregistered

secretlab ian ang laugh at all you losers aspiring to be director or VP in bank.

i made 500k from stock market i also laugh at all you losers. dont know how many years u all need to slog like dog then can reach my level. somemore my capital can still continue rolling and growing in the stock market.

You talking about Neopets stock market?

Originally Posted by Unregistered

You talking about Neopets stock market?

Real stock market, i made more than u will save in 40 years probably

Enjoy rat racing u poor

Originally Posted by Unregistered

Real stock market, i made more than u will save in 40 years probably

Enjoy rat racing u poor

yet you still need to wag your d*** in an anonymous forum

Originally Posted by Unregistered

yet you still need to wag your d*** in an anonymous forum

Shiok what

I got money i got freedom to do what i want