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

Originally Posted by risinglikeaczar

Hoping to find out more about local banks' normal annual bonus for average performers. Anyone care to share more?

BO:
FO:

Thanks!

Your bonus is also dependent on your seniority. The difference in average bonus between VP onwards and AVP below is significant.

Originally Posted by Unregistered

Your bonus is also dependent on your seniority. The difference in average bonus between VP onwards and AVP below is significant.

No ****, Sherlock. You don't think people already know this?

Originally Posted by risinglikeaczar

Hoping to find out more about local banks' normal annual bonus for average performers. Anyone care to share more?

BO:
FO:

Thanks!

I read from quite a few threads in this forum that local bank bonus is poor compared to big international banks like JP and Citi. Could someone help to confirm with figures and stats? Thank you....

[risinglikeaczar]

Based on glassdoor's salary report, it seems that the average bonus is 2.5 months. Wondering if it's the right order of magnitude hmm

Originally Posted by risinglikeaczar

Based on glassdoor's salary report, it seems that the average bonus is 2.5 months. Wondering if it's the right order of magnitude hmm

must take into account local banks don't pay 13th month... so average performance bonus is 1.5 months...

[risinglikeaczar]

Agaration 14.5 months annual package?

Im NUS FCH, get paid $3k per month and no bonus this year

any one knows if it is easy for Ocbc contract staff to land a permanent role in the bank? if the current dept has no headcount, any idea if there are opportunities for internal hiring of contract staff to land a permanent position in other dept?

Wow, salary ceiling is only 9k?

Originally Posted by Unregistered

Original poster here. For local banks this is true to certain extent. Stay long enough and you will eventually hit AVP unless you're absolutely terrible, in which case you'll probably leave on your own anyway. They also have a culture of protecting jobs which is why you hear about people wanting to move from foreign to local bank during mid career. No pay cut during economic downturn, just lower bonuses possibly.

There are so many AVPs sitting around in MO/BO, just waiting for the lucky break where they get to move up to VP. Salary ceiling is probably around 9k a month (talking about DBS), up to 3 months bonus.

But note that this safe path can be absolutely soulless and dreadful. The hours are long, yet the work you do is quite trivial and sometimes just for show. I've a friend in DBS who said that more than half of the cohort would have left the BO graduate program by the end of two years.

Originally Posted by Unregistered

Hi guys! Don't give up! My starting salary was quite low too! I have been in a back office role in one of the local banks here since graduation and the progression has been great.

2013 to 2015 - Graduate Associate 3.8k to 4.4k
2015 to 2016 - Associate 4.7k to 5.0k
2016 to 2018 - Senior Associate 6.2k to 7.5k
2018 to 2020 - AVP 8.5k to 10.3k
2021 - VP 13.5k (current)

I am actually also graduated in 2013 started in another local bank; now in the bank as you. But mine current draw is 8k. To be honest, really hard to believe your increment amount is so huge and constant over the years. Ppl I know in the bank many are getting $200-300 a year; a $500 is very good already. Yours is $1500 per year?