High Finance Thread

Originally Posted by Unregistered

I am a undergraduate student with internship experience in project finance and structured finance with smaller international banks.

Does anyone know if the project finance/structure finance is under IB or corporate banking in BB? cos I saw in some banks it is under IB while others is under corporate banking.

I do not want to go IB, greatly appreciated if anyone could point out some of my potential career paths!

So you have worked in project finance and structuring which means you at least have an idea of what the job entails. Does it matter if it's under IB or CB?

Ib analyst here
looking to exit into am/pwm

How much has demand for pwm grown in Singapore since the hong kong security law was passed

Originally Posted by Unregistered

Ib analyst here
looking to exit into am/pwm

How much has demand for pwm grown in Singapore since the hong kong security law was passed

If you have to ask, you aren't reading enough boy.

Hello all! Was wondering, what are some of the differences between the MA Programmes in local banks (FO) and the Graduate Programmes (Back Office) in the foreign banks? From what I understand, the starting salary seems to be similar, but what about the culture/ working environment, career progression, pay progression and bonus? Thanks in advance!

Originally Posted by Unregistered

Hello all! Was wondering, what are some of the differences between the MA Programmes in local banks (FO) and the Graduate Programmes (Back Office) in the foreign banks? From what I understand, the starting salary seems to be similar, but what about the culture/ working environment, career progression, pay progression and bonus? Thanks in advance!

Batch of 2017 here. Fortunate enough to successfully breeze through my graduate programme with a BB.

I have uni friends who went through the similar track (MO Risk) but under graduate schemes with local/SEA-centric banks. Right of the bat I feel that during the early stages, the programme at BBs are more structured than local banks; the deliverables, learning & development, HR support etc. are way more superior.

To give you an example, in the first 3 months after induction, I was placed under a bi-weekly session in working my way to get GARP credentials on top of the general in-house training by HR. My local bank friends on the other hand were already shadowing senior analysts/doing grunt work.

I eventually started doing grunt work too but by the time I was officially perma’d to a department, I dare say my fundamentals are way better than my local bank counterparts.

Now fast forward 3 years, BB has a strong hire/fire culture that is solely performance based. The salary and bonus is great but informal performance reviews happen every quarter!

Thank you! That is really insightful! May I ask how is the career progression at BB BO? Do BB graduate programs have a lot of training / personal development opportunities? And are there any internal transfer opportunities to MO for good performers?

Originally Posted by Unregistered

Thank you! That is really insightful! May I ask how is the career progression at BB BO? Do BB graduate programs have a lot of training / personal development opportunities? And are there any internal transfer opportunities to MO for good performers?

Please do not take mo as a higher tier than Bo. Both falls under operations, and paid the same bracket, just different work. For eg. An MO checks accuracy of trades booked, a BO keys in account information to settle the trade. I'm in FO myself, I would take dbs FO than a BB BO. An fresh grad FO role in a decent bank draws the same salary as a newly promoted VP in operations (BO/MO). You see the money you make for the bank whereas in bo/MO you are on a factory line.

Originally Posted by Unregistered

Please do not take mo as a higher tier than Bo. Both falls under operations, and paid the same bracket, just different work. For eg. An MO checks accuracy of trades booked, a BO keys in account information to settle the trade. I'm in FO myself, I would take dbs FO than a BB BO. An fresh grad FO role in a decent bank draws the same salary as a newly promoted VP in operations (BO/MO). You see the money you make for the bank whereas in bo/MO you are on a factory line.

BB MO Fresh earns slightly more than Local Bank FO Fresh though.

Fresh VPs in BB MO command around 11-13k base depending on the bank

Originally Posted by Unregistered

BB MO Fresh earns slightly more than Local Bank FO Fresh though.

Fresh VPs in BB MO command around 11-13k base depending on the bank

Again, don't split MO/BO, they are in the same salary bracket. I don't know which bank you are from, and why you think MO makes more than BO.. This is a common misconception so I don't blame you. I am in a BB now and was from another BB earlier. An ops FRESH VP base is only 8k -9.5k per month. A fresh grad analyst in FO is 10k. During my first year in FO, full one year compensation was 165k including bonus. An ops VP old or new collects maximum 2 months, and on average 1 month bonus across the board. I know because we invite ops managers for drinks yearly to thank them for the support. I have been in this line for 6 years, don't let the AVP/VP title fool you, there is a reason why FO salary is called superscale.

Originally Posted by Unregistered

BB MO Fresh earns slightly more than Local Bank FO Fresh though.

Fresh VPs in BB MO command around 11-13k base depending on the bank

Also FYI, BB MO fresh grad through MA, is equivalent to DBS FO = 60k per year. But considering this FO dude jumps into a BB FO which is not difficult, long run he will make many times more than the guy staying in BB OPS