How to get into Banking industry? - Page 3 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




How to get into Banking industry?

Reply
 
Thread Tools
  #21 (permalink)  
Old 28-05-2019, 04:03 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Having been in the banking & financial industry for more than 10 years previously, my word of advice, don't enter into back office operations now, especially if you are new, young and thinking of working your way up the corporate ladder in BO ops. As someone has shared previously, many banks have shifted their BO functions to overseas offices, unless you are aiming for local banks. Alternatively, I would suggest asset/fund management companies, which also have operations functions.

If your desire is to get into the banks (in any kind of role), and is willing to learn and pick up official certification or degrees, why not try taking up a specialise degrees in areas like quants finance or data science, or certifications like risk management? These niche skills or certification will give you an edge to apply for specific roles in the banks.

In today's world of fast moving technology, automation, and data science, generic BO operations functions are being phase out very quickly. I have started out as Ops many years ago, and over the years my role evolved to something that is no longer pure Ops (of course in between include alot of retraining, taking up new skills, etc.).

In any case, good luck in your search.
Thank you for the enlightened post. I am a degree holder but donít want to pursue what i studied at the same time I donít want to do Masters as it expensive. What kind of certifications should I do?

Reply With Quote
  #22 (permalink)  
Old 28-05-2019, 11:39 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Thank you for the enlightened post. I am a degree holder but donít want to pursue what i studied at the same time I donít want to do Masters as it expensive. What kind of certifications should I do?
Certification like FRM or CFA are quite popular with banks or FM.
Alternatively look at the job description of the roles you are interested in, and see what qualifications or skills they need and work towards that.

There are many functions in the banking and financial industry, you have to be clear of which and what you want. If you are unsure, go lookup and search at some of the short courses conduct by local universities on financial markets and instruments, etc. Get yourself familiar with the industry, and understand the different functions.

And if you don't care about the functions but just want to gain exposure working in the bank, another option is to look for temporary roles or short contract roles (which are usually created to tide over sudden shortage of manpower such as maternity coverage). You can easily search and find these in efinanical page, many of which are via job agents. Try to apply, if they reject, talk to the agents and tell them your desire to find a job in the industry and is willing to accept temp or contract roles. Ask them to keep you posted.
However, do note usually big banks and FMs are quite specific on their requirement for such roles and will normally require for people with prior experience, hence try to gain some experience by starting out in smaller foreign banks or small FMs.

Reply With Quote
  #23 (permalink)  
Old 01-06-2019, 05:57 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I don't think it is worth doing operations and programming type of jobs in banks. These type of jobs have moved to India for one fifth of your salary.
dont understand the misconception about workins in Ops sector in bank. i knew a few colleagues who started in Ops andworking in analyst positions now.. what say



SG BusLeh mobile app
SG BusLeh - the best bus app - available on iPhone and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #24 (permalink)  
Old 01-06-2019, 12:29 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
dont understand the misconception about workins in Ops sector in bank. i knew a few colleagues who started in Ops andworking in analyst positions now.. what say
those are exceptions unfortunately. The 100% truth is that if you want to work in the front office , you start off in the front office.

Simple analogy - if you are Real Madrid and you are looking for a striker, will you look for a good striker in Aston Villa or a good defender in Barcelona to fill the role?
Reply With Quote
  #25 (permalink)  
Old 01-06-2019, 06:08 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
those are exceptions unfortunately. The 100% truth is that if you want to work in the front office , you start off in the front office.

Simple analogy - if you are Real Madrid and you are looking for a striker, will you look for a good striker in Aston Villa or a good defender in Barcelona to fill the role?
Not really la.. I started in Ops now a FI RM after 3 years. I know quite a few folks also transited into FO roles from Ops/IT. It's the mindset and hunger for success - too many BO people resigned to fate and never moved up from there.
Reply With Quote
  #26 (permalink)  
Old 01-06-2019, 07:19 PM
Unregistered
Guest
 
Posts: n/a
Default

Will it be easy to jump to banks or investment firms from working in corporate finance/treasury department of companies or what are the exit opportunities?
Reply With Quote

  #27 (permalink)  
Old 01-06-2019, 07:21 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Will it be easy to jump to banks or investment firms from working in corporate finance/treasury department of companies or what are the exit opportunities?
Or jumping to banks or investment firms from insurance companies?
Reply With Quote
  #28 (permalink)  
Old 05-06-2019, 12:23 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Or jumping to banks or investment firms from insurance companies?
This one shouldn't be too difficult, but fund management companies will be easier.
But really depends on what kind of job you are doing in insurance. Say if you are financial planner or sales, it would be possible to move to similar sales jobs in banks. If you are in the investment management arm of insurance firms, moving to fund mgmt will be an almost similar industry move.
But if say you want to move from sales in insurance to IT in banks, then of course not easy unless you have the relevant qualifications. Simply to say, different industry is not the hinder, it is the skillset and qualifications, whether it is transferable or not. Otherwise if you willing to reset and start from bottom.. Anything also possible.
Reply With Quote
  #29 (permalink)  
Old 07-06-2019, 12:16 AM
Unregistered
Guest
 
Posts: n/a
Default

What is the annual package range for associate / senior associate at DBS? Assuming ops role or mid office
Reply With Quote
  #30 (permalink)  
Old 09-06-2019, 12:23 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
What is the annual package range for associate / senior associate at DBS? Assuming ops role or mid office
if you get the offer they will tell you.
Reply With Quote
Reply

Bookmarks

Tags
bank

« Previous Thread | Next Thread »

Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Foreigner in Banking Industry aspiringbanker Income and Jobs 4 20-02-2019 02:42 AM
Career prospect/advancement for Banking sales roles vs Banking "back end" roles happyman Income and Jobs 149 31-12-2016 01:59 PM
Banking industry: Bancassurance vs Personal Banking Assoc emptydialogue Income and Jobs 19 16-12-2016 02:07 AM
Prospects of Corporate Banking & Private Banking Jobs Income and Jobs 6 17-04-2015 01:59 AM
Career Choice: Consumer Banking or Business Banking? GS8 Income and Jobs 47 07-11-2013 12:10 AM

» 30 Recent Threads
MCI and IMDA
0 Replies, 20 Views
Roles in accenture singapore ( 1 2 3... Last Page)
270 Replies, 186,480 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
590 Replies, 272,573 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
2,405 Replies, 1,132,127 Views
Career as Teacher ( 1 2 3... Last Page)
1,761 Replies, 1,159,063 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,351 Replies, 482,935 Views
How much savings do you have? ( 1 2 3... Last Page)
1,250 Replies, 481,799 Views
Lawyer Salary ( 1 2 3... Last Page)
4,526 Replies, 1,634,404 Views
Exxon Mobil Equipment tech or... ( 1 2 3... Last Page)
1,554 Replies, 411,829 Views
Compilation of MAs/Analysts Gross... ( 1 2)
18 Replies, 1,499 Views
Getting MBA worth? ( 1 2 3... Last Page)
97 Replies, 58,807 Views
Working Culture in IRAS ( 1 2 3... Last Page)
52 Replies, 55,145 Views
DBS BANK Interview replies ( 1 2 3... Last Page)
420 Replies, 236,038 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
815 Replies, 615,586 Views
How is life as a doctor in... ( 1 2 3... Last Page)
705 Replies, 682,764 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,475 Replies, 843,995 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,612 Replies, 679,776 Views
GIC career ( 1 2 3... Last Page)
220 Replies, 270,877 Views
Pay grade at CSA ( 1 2 3... Last Page)
65 Replies, 8,522 Views
fresh grad seeking a career,but no... ( 1 2 3... Last Page)
37 Replies, 11,970 Views
Compare civil service salary ( 1 2 3... Last Page)
8,394 Replies, 4,674,772 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
2,532 Replies, 1,501,125 Views
ST Electronics ( 1 2 3... Last Page)
303 Replies, 126,527 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
1,194 Replies, 914,968 Views
Dilemma - SAP or Data analytics?
2 Replies, 303 Views
Commercial Affairs Officer ( 1 2 3... Last Page)
100 Replies, 61,024 Views
working under singhealth ( 1 2 3)
21 Replies, 13,750 Views
Standard Chartered International... ( 1 2 3... Last Page)
47 Replies, 42,471 Views
Salary for engineer at Singapore...
9 Replies, 9,519 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 08:10 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2