Compilation of MAs/Analysts Gross Starting Pays (Graduate)

Originally Posted by Unregistered

Anyone knows the starting pay for ifast compliance officer position?

Pay for that would be around 3.3k

Originally Posted by Unregistered

Socgen pay for transaction banking is around 4k

Oh not bad, first year can clear 55k I guess?

Originally Posted by Unregistered

Oh not bad, first year can clear 55k I guess?

Lol seriously. Nowadays, new grads has lots of expectation. Why do you think they will give you 14% increment in first year unless you are promoted? This is ops job. Pay is low, the bank is also struggle.

If you are not part of the MA program, you won't have the privilege for good hike unless you perform well. That is also why MA program has higher entry bar, because they except you to perform better than others and career progression is also faster. I also doubt you will get 14% increment, most likely 5% to 7%. This is already considered good for European companies.

European banks are struggle, don't think they have a lot of money to feed you.

Originally Posted by Unregistered

Lol seriously. Nowadays, new grads has lots of expectation. Why do you think they will give you 14% increment in first year unless you are promoted? This is ops job. Pay is low, the bank is also struggle.

If you are not part of the MA program, you won't have the privilege for good hike unless you perform well. That is also why MA program has higher entry bar, because they except you to perform better than others and career progression is also faster. I also doubt you will get 14% increment, most likely 5% to 7%. This is already considered good for European companies.

European banks are struggle, don't think they have a lot of money to feed you.

4x12 is already 48, if they pay 2 mths bonus isn't it already over 55k?

just a quick poll: what's the lousiest MA programme you guys know out there? reasons please!

Originally Posted by Unregistered

just a quick poll: what's the lousiest MA programme you guys know out there? reasons please!

Nestle lor for an mnc the pay is so low

Originally Posted by Unregistered

Lol seriously. Nowadays, new grads has lots of expectation. Why do you think they will give you 14% increment in first year unless you are promoted? This is ops job. Pay is low, the bank is also struggle.

If you are not part of the MA program, you won't have the privilege for good hike unless you perform well. That is also why MA program has higher entry bar, because they except you to perform better than others and career progression is also faster. I also doubt you will get 14% increment, most likely 5% to 7%. This is already considered good for European companies.

European banks are struggle, don't think they have a lot of money to feed you.

Not really, some direct hires do better than those in MA programs.

MA program only give u more chance for visibility with higher ups. If you don't take the chance then MA also no use. Also depends on how long the program has been running for, some MA program are scam one just fancy marketing

Wouldn't really call transaction banking ops... Probably more mid office. First year maybe not 55k but second year should be able to hit. Will def hit 55k once promote to Associate

Originally Posted by Unregistered

Lol seriously. Nowadays, new grads has lots of expectation. Why do you think they will give you 14% increment in first year unless you are promoted? This is ops job. Pay is low, the bank is also struggle.

If you are not part of the MA program, you won't have the privilege for good hike unless you perform well. That is also why MA program has higher entry bar, because they except you to perform better than others and career progression is also faster. I also doubt you will get 14% increment, most likely 5% to 7%. This is already considered good for European companies.

European banks are struggle, don't think they have a lot of money to feed you.

MA Program is not the end all be all. Some direct hire do better than MA candidates. MA Program only give u visibility to higher up, if you **** up or don't take the chances then no use one even if you are MA.

Wouldn't classify transaction banking as ops... More middle officer than anything else.

Close to 55k is not unrealistic but bonus for banks quite pathetic usually only 1 month because most banks not doing well now in covid and they want control costs.

Should be able to hit 55k once 2nd year and definitely once promote to associate.

But then cpf take 17% so lan lan lmao

Originally Posted by Unregistered

MA Program is not the end all be all. Some direct hire do better than MA candidates. MA Program only give u visibility to higher up, if you **** up or don't take the chances then no use one even if you are MA.

Wouldn't classify transaction banking as ops... More middle officer than anything else.

Close to 55k is not unrealistic but bonus for banks quite pathetic usually only 1 month because most banks not doing well now in covid and they want control costs.

Should be able to hit 55k once 2nd year and definitely once promote to associate.

But then cpf take 17% so lan lan lmao

Ok so I assume the base will be about 4k on a 13 month package for the first year... with a decent chance of hitting 55k for the second?

How come the TB salaries are so disparate across the diff banks though? DB is 5.2 and Baml 7k as seen on the thread

Originally Posted by Unregistered

Ok so I assume the base will be about 4k on a 13 month package for the first year... with a decent chance of hitting 55k for the second?

How come the TB salaries are so disparate across the diff banks though? DB is 5.2 and Baml 7k as seen on the thread

TB is a good career for entry level grads, gives you many opportunities to work in different business units

E.g. Cash Mgmt, Trade Finance, Relationship Mgmt

TB salaries are disparate due to two factors

1) Some banks consider TB to be under investment banking arm and you are expected to know more about modelling and due dilligence that is why you get paid extra (mostly american banks). Banks who classify TB under corporate/commercial banking will pay less (think 3-5k)

2) Depends on the bank's strength and pedigree. Those foreign banks usually follows a fixed band salary globally whereas local banks can sort of lowball you because SG is their home market.

To give you a more accurate career progression

Analyst 3-5k/month
Associate 4-6k/month (around 2-3 years)
VP - 5.5-8.5k/month (3-4 years)
SVP - 8-12k/month (?)
ED - 10-15k/month (?)
MD - 15k-25k/month (?)

Past VP promotion is much trickier. Depends on if your business unit is high visbility and bringing in cash. Also see if you got strong 'sponsors' who are willing to fight for your promotion and new job scope

That's why there is such a range between salaries. I know that VP in product side earn 30% more compared to VPs in relationship mgmt

Also got some stuck at SVP age 40+ and don't want to choing anymore and just relax cuz less responsbiility