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

Originally Posted by Unregistered

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?

Originally Posted by Unregistered

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.

Originally Posted by Unregistered

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?

Originally Posted by Unregistered

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.

L

Originally Posted by Unregistered

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

Originally Posted by Unregistered

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

Originally Posted by Unregistered

If you are an emploee, not sure if you should disclose this lol

There is not much specifics and nothing sensitive in there lol

how many mths is the bonus for local bank BO usually?

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!

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