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

Originally Posted by Unregistered

7 to 8 years to VP for top performer. If your friend is a girl it is possible. Junior VP earns around 140k including bonus. I am talking about BO/MO. FO pay is another level.

this sounds about right. making into a rank is not the full story. some functions are known to offer promotion early to attract/retain people but pay tells the truth.

for the black/red bank, I've seen many in compliance, audit, HR functions getting VP around 30, SVP before 40, but the pay is just AVP/VP level of revenue generating functions like IBG, PB or even tech roles.

Also black/red bank's compensation philosophy is really egalitarian (with some exception of course but applies to majority ordinaries). every year they'll benchmark each rank against market and try to average out using bonus. so if you have higher base, you'll get less bonus and less increments compared to another person with lower base, adjusted against total working year/age. After a while everyone in same rank will earn more or less the same, except real top performers. (bad performers don't get sack though, not sure if that's a good thing or bad thing)

Originally Posted by Unregistered

The so called VP at bank is only middle manager. Real VPs earn 600k to 2M at big companies. 1/3 of GS employee has VP title and that says a lot.

everyone knows the VP title in banks is different from the rest of the world. cliché.

Originally Posted by Unregistered

Hi guys, I'm going to interview for Treasures Manager. Thoughts? I rather hear the cold hard truths

upppp u....

Originally Posted by Unregistered

everyone knows the VP title in banks is different from the rest of the world. cliché.

VP in bank means little. If it's a local bank, it's meaningless.

Originally Posted by Unregistered

VP in bank means little. If it's a local bank, it's meaningless.

yup, there is avp, vp, svp, evp, but never a president
what kind of nonsense is that?

Originally Posted by Unregistered

yup, there is avp, vp, svp, evp, but never a president
what kind of nonsense is that?

Because the term VP is given in the context of the particular division of a function, rather than the bigger function or organization as a whole. But they get paid well though, even for a local bank back office role

Originally Posted by Unregistered

Because the term VP is given in the context of the particular division of a function, rather than the bigger function or organization as a whole. But they get paid well though, even for a local bank back office role

Yup VP in banking even for BO alr >10k

Originally Posted by Unregistered

Yup VP in banking even for BO alr >10k

Ofc not as high as FO but still 10k is more than decent lol

s://.straitstimes.com/best-employers-singapore-2021

DBS 58th, UOB 178th, OCBC did not make it...

Originally Posted by Unregistered

Yup VP in banking even for BO alr >10k

Depends on subrank. Within VP there are different tiers for example VP3, VP2, VP1. I believe low VP aka VP3 in BO is sub 10k. BO is after all the dumping ground of finance. Thankless when you do a good job, because that's what everyone from FO to MO to customer expects. But when you screw up, all the blame goes to BO. The banking animal kingdom hierarchy: BO slave to FO and MO, MO sometimes slave to FO, everyone slave to customer.