Working in a bank

Originally Posted by Unregistered

How can you say being bailed out have no impact on bonus? If you needed to be bailed out means you were on the verge of being bankrupt. If you needed help to survive, how can you still give good bonus? Wont that be sending a very wrong message to the investors?

Your naïveté is laughable. Weeks after the biggest bailout in history, all major banks including those that were bailed out, doled out astronomical bonuses. You don't keep up with current affairs do you? Stop visiting this forum and start reading the news.

Well you joker, if your information is from reading forum and news, then no wonder you are giving such inaccurate information. This really goes to show you are not working in any of those foreign banks especially the ones which took bail out money. Astronomical bonuses reported in news are always for top management and top sales staff. Not for normal employees in general. No need to even mention the kind of bonus back office gets. So if you are not from say RBS, and do not know the situation, please keep your comments to yourself and let those who know voice out.

Originally Posted by Unregistered

Well you joker, if your information is from reading forum and news, then no wonder you are giving such inaccurate information. This really goes to show you are not working in any of those foreign banks especially the ones which took bail out money. Astronomical bonuses reported in news are always for top management and top sales staff. Not for normal employees in general. No need to even mention the kind of bonus back office gets. So if you are not from say RBS, and do not know the situation, please keep your comments to yourself and let those who know voice out.

I am from Citi BO, one of the so call bail out banks. I have been recieving bonuses from them since I joined in 2007. Even during the jialat times during GFC they still paid ~1.8 months bonus. This year we are anticipating at least 3 months.

How about pay increment in foreign banks? Would there be annual pay increment or is there pay freeze during years when economy is bad? And what's the average pay increase; possibility of 10%? Thanks

Originally Posted by Unregistered

Anyone out there knows what is the annual pay range for an associate in RBS?
Thanks

Originally Posted by Unregistered

US$220k for a 1st year associate, ~US$250k for a 2nd year associate.

Originally Posted by Unregistered

The figures cant be true. Super inflated. Anyone out there really work in RBS Singapore and know the annual pay range of associate?

Anyone with insider knowledge of the annual pay range for RBS Associate in Singapore? Going for interview soon.

Originally Posted by Unregistered

Anyone with insider knowledge of the annual pay range for RBS Associate in Singapore? Going for interview soon.

What's your background? Current job and how much you are drawing now?

Why would you want to do that? Just for the money? I would recommend you not to do so if its just compensation you are after.

Although I would think that given your current background you do have some advantage in terms of skillsets as well as contacts to get into corp fin.

It is not a good time to enter corporate finance right now and I think your current career as a corporate lawyer is a better and more secure path. Unless of course there are other motivations behind this intention to job switch.

Originally Posted by john doe

Just wondering, for a lawyer to switch to banking mid career, say perhaps around 27-28 (i.e. first or second yearer drawing 6-7k monthly, other than going in house as legal counsel, would there be other potential positions as well? This is with reference to a corporate lawyer of M&A specialisation, and some experience handling PE and collective investment schemes. Or would it be better to stay in practice and postpone the career switch?

Associate under what function? Investment Banking ? And what function within IB (corp fin? ECM, DCM ? Treasury? )

Originally Posted by Unregistered

The figures cant be true. Super inflated. Anyone out there really work in RBS Singapore and know the annual pay range of associate?

Originally Posted by Unregistered

Associate under what function? Investment Banking ? And what function within IB (corp fin? ECM, DCM ? Treasury? )

Corporate Banking

Originally Posted by Unregistered

Corporate Banking

The figures that i had originally quoted are for IBD corporate finance. This includes year end bonus & housing allowance. The only caveat is that i work in HK, but my peers in Sg get about the same.