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

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  #971 (permalink)  
Old 08-10-2022, 02:23 PM
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Any experienced Sifus mind sharing some career advices?

i) Am I underpaid based on market rate?
ii) Should I stay on first or hop to another bank?

YOE:
- 4 years of exp in big4 audit (banking client), left as Year 2 Senior
- 1 year Contract Accountant
- 6month (on going) in a foreign bank working under control department

Salary close to but yet to hit $5k. Aiming to pivot into Risk management of Bank and currently self study for FRM exam.
You got 0 chance to get into risk mgmt dept of a bank with that CV and even in the very distant possibility that you do, you will have to take a massive paycut and start of as a credit analyst competing with freshies

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  #972 (permalink)  
Old 08-10-2022, 02:27 PM
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What do RMs make? Base and comms?
I see many rms sell universal life, now driving big cars and fancy cars
Drive fancy cars does not mean one is earning well. I know a operation executive with a bank whose band is probably earning $4-$6k p.m. but he is driving a second hand mercedes. Heard people complainhe is always trying to borrow money from colleague. Later got the sack...

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  #973 (permalink)  
Old 08-10-2022, 03:19 PM
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Originally Posted by Unregistered View Post
Any experienced Sifus mind sharing some career advices?

i) Am I underpaid based on market rate?
ii) Should I stay on first or hop to another bank?

YOE:
- 4 years of exp in big4 audit (banking client), left as Year 2 Senior
- 1 year Contract Accountant
- 6month (on going) in a foreign bank working under control department

Salary close to but yet to hit $5k. Aiming to pivot into Risk management of Bank and currently self study for FRM exam.
Market rate as compared to what? If comparing with general pop with 5.5 years of exp like you, 5k is decent for a typical local bank doing mo/bo (not part of grad prog). Ppl with 5+ years in the same field or foreign banks may be drawing higher pay.

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  #974 (permalink)  
Old 08-10-2022, 03:20 PM
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Drive fancy cars does not mean one is earning well. I know a operation executive with a bank whose band is probably earning $4-$6k p.m. but he is driving a second hand mercedes. Heard people complainhe is always trying to borrow money from colleague. Later got the sack...
Waaa other ppl earning 10k also thinking twice and thrice to get a honda lehh
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  #975 (permalink)  
Old 10-10-2022, 06:09 PM
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What’s ur role?
Internal Audit
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  #976 (permalink)  
Old 19-10-2022, 02:05 PM
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Internal Audit
oh wow 8 yrs of exp 10k.. you IA guys earning sheet load of money causing terror to the other departments in your audit inspection!!
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  #977 (permalink)  
Old 20-10-2022, 05:59 PM
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Attended several rounds of interviews at a bank recently for a corporate role and the HR officer said they'd like to make me an offer. They are asking for my last drawn pay and the payslips to back it up.

I am reluctant to give this to them because I am not happy with my current pay and believe I am being severely underpaid. What will happen if I decline to share my last drawn pay info with them? Will the offer be rescinded?
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  #978 (permalink)  
Old 20-10-2022, 11:03 PM
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Attended several rounds of interviews at a bank recently for a corporate role and the HR officer said they'd like to make me an offer. They are asking for my last drawn pay and the payslips to back it up.

I am reluctant to give this to them because I am not happy with my current pay and believe I am being severely underpaid. What will happen if I decline to share my last drawn pay info with them? Will the offer be rescinded?
Have you at all revealed/divulged what your current pay is? From what I understand, typically for banks the custom is to bump your pay based on your current. This is unlike other industries like tech where you can just quote xx and the firm may not request for ur payslip. So yes in general for banks, I do think they mark up from your current salary. If you feel you are underpaid already, make it known to them, say that although you are drawing xx, you believe you should qualify for yy because of your skills and contributions you can offer (elaborate) and that your asking pay is in line with market?
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  #979 (permalink)  
Old 21-10-2022, 08:16 AM
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Attended several rounds of interviews at a bank recently for a corporate role and the HR officer said they'd like to make me an offer. They are asking for my last drawn pay and the payslips to back it up.

I am reluctant to give this to them because I am not happy with my current pay and believe I am being severely underpaid. What will happen if I decline to share my last drawn pay info with them? Will the offer be rescinded?
Depends if you have lied to them about your current salary. If they want you badly, they would not just offer you based on your drawn salary only. However, if you have lied..... Then is another story.
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  #980 (permalink)  
Old 22-10-2022, 10:12 AM
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Default Should I jump

Currently 2 years in middle office as risk analyst, got offer to move to front office risk analyst for 7k/m, have to forgo promotion and still stuck at analyst role. Worth?
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