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OCBC Graduate Talent Programme 2019 (Previously Young Banker)

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  #581 (permalink)  
Old 08-02-2021, 01:28 AM
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lai give u my pov. ocbc, just like all local banks, is a dumping ground for those who cmi into foreign banks (not even talking about BBs, even shops like HSBC, SCB).

happy not? donít triggered pls i know ocbc no prestige
what a hardo.

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  #582 (permalink)  
Old 08-02-2021, 06:16 AM
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lai give u my pov. ocbc, just like all local banks, is a dumping ground for those who cmi into foreign banks (not even talking about BBs, even shops like HSBC, SCB).

happy not? donít triggered pls i know ocbc no prestige
I think there's no need to use such harsh words. But in general yes the BBs are top industry players and even the likes of StanChart, Citi and HSBC offer more and better opportunities than the local banks. The local banks are highly focused on the domestic market while international banks give you more well-rounded, diverse exposure. In the pre-Covid era, you often had the opportunity to go on overseas business trips if you worked in an international bank. In the three local banks, hardly. This will probably be the case post-Covid as well. The more important issue imo is salary. BB pay is sick and even international banks pay better than local banks. Progression is better as well. Although local banks are better for job stability and are excellent to retire in.

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  #583 (permalink)  
Old 08-02-2021, 08:53 AM
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I think there's no need to use such harsh words. But in general yes the BBs are top industry players and even the likes of StanChart, Citi and HSBC offer more and better opportunities than the local banks. The local banks are highly focused on the domestic market while international banks give you more well-rounded, diverse exposure. In the pre-Covid era, you often had the opportunity to go on overseas business trips if you worked in an international bank. In the three local banks, hardly. This will probably be the case post-Covid as well. The more important issue imo is salary. BB pay is sick and even international banks pay better than local banks. Progression is better as well. Although local banks are better for job stability and are excellent to retire in.
Local banks focus on domestic market is just a better way of saying they serve smaller clients. Big domestic clients are still served by the international banks.

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  #584 (permalink)  
Old 08-02-2021, 10:22 AM
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Local banks focus on domestic market is just a better way of saying they serve smaller clients. Big domestic clients are still served by the international banks.
That's true. Plus almost no MNC uses DBS, OCBC or UOB for their banking needs other than to store their Singdollar holdings. I am also pretty sure no F500/FG500 firm has anything more than a SGD account with the local banks and only if they have a presence in Singapore. They need it to pay local operating expenses, such as staff salaries, that's about it. Complex international banking operations would be undertaken by global banks, or at least banks from the same country as the company. Like BOC for Chinese firms and SMBC for Japanese firms.
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  #585 (permalink)  
Old 08-02-2021, 12:16 PM
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Agreed with all the comments above. Sadly most of our fresh grads are mediocre and can only get into positions in local banks
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  #586 (permalink)  
Old 08-02-2021, 01:11 PM
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Lai lai please share your LinkedIn profile. Let us see which prestige bank you working in and how amazing your CV is
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  #587 (permalink)  
Old 10-02-2021, 02:03 PM
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Agreed with all the comments above. Sadly most of our fresh grads are mediocre and can only get into positions in local banks
also to add on, local banks back offices are not in CBD. they are in more "affordable" locations where rent is cheaper and the office is more cui. just this alone tells you that senior mgmt sees back office as cost centre. of course as a cost centre, the bonus is cui as well. and to the person who posted that at the end of the day ops is not going anywhere, I think you miss the point. yes ops is an essential function, however YOU are not, not when there are so many people out there who can do your job, since your job is just processing and checking and data entry
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  #588 (permalink)  
Old 10-02-2021, 02:09 PM
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also to add on, local banks back offices are not in CBD. they are in more "affordable" locations where rent is cheaper and the office is more cui. just this alone tells you that senior mgmt sees back office as cost centre. of course as a cost centre, the bonus is cui as well. and to the person who posted that at the end of the day ops is not going anywhere, I think you miss the point. yes ops is an essential function, however YOU are not, not when there are so many people out there who can do your job, since your job is just processing and checking and data entry
meh. still can drive car own condo. go home 6pm also, good enough for me
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  #589 (permalink)  
Old 10-02-2021, 07:19 PM
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also to add on, local banks back offices are not in CBD. they are in more "affordable" locations where rent is cheaper and the office is more cui. just this alone tells you that senior mgmt sees back office as cost centre. of course as a cost centre, the bonus is cui as well. and to the person who posted that at the end of the day ops is not going anywhere, I think you miss the point. yes ops is an essential function, however YOU are not, not when there are so many people out there who can do your job, since your job is just processing and checking and data entry
Why u say until like foreign banks BO all in CBD? Really meh?
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  #590 (permalink)  
Old 10-02-2021, 11:41 PM
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Why u say until like foreign banks BO all in CBD? Really meh?
Most foreign banks don't even have BO in SG, because SG is too expensive a location to set up BO plus SG is only a small market for them, so not worth to set up BO here. There are cheaper countries like India and if they really want their BO to be in SEA, they can choose Malaysia. All 3 SG banks have BO here because well, they are headquartered here and SG is their main market, for both corporate and retail sides. Their FO and MO are all in CBD. OCBC and UOB have their own buildings at Raffles Place while DBS is in MBFC. Their back offices are all located very, very far from the CBD, like Tampines. Very inaccessible but so long as the rent is cheap, that's all that matters. The offices are more poorly furnished and crowded than their front and middle offices too. It is clear that senior management views BO as cost centre and adopt a cost-cutting approach towards BO departments. When headcount or bonuses need to be cut, you can be sure BO will take the first hit.
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