Working in a bank

Corp banking ? maybe 3-4k?

Originally Posted by Unregistered

Corporate Banking

Originally Posted by Unregistered

Corp banking ? maybe 3-4k?

I dont work in RBS. But this is too low for an associate in this bank

Associate in corporate banking and the "Associate" term in IB can be very different.

In IB, associate is the next level after the entry level rank of analyst. Paid very well I'm sure.

In corp bank, we sometimes call new entry hires as Relationship Associates. This will be $3-4k.

Better for the person asking salary info to state his JD more clearly before we can help him.

Originally Posted by Unregistered

I dont work in RBS. But this is too low for an associate in this bank

[cslee]

Just come across today's (21 Jan 13) Straits Time (Money Page). Selective hiring in banking sector. IB jobs have all but almost dried up. IT jobs massively outsourced to India and Philippine to cut costs. Slightly more opportunities in doing risk compliance in certain niche sectors - and it's not transferable e.g. IB compliance can't do private wealth compliance etc

Anyone care to share if it's really that "negative" as reported, esp when SG overall economy still doing well?

Originally Posted by Unregistered

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

You must be kidding me, US$20k per mth is even more than a goldman or mac asso

Originally Posted by cslee

Just come across today's (21 Jan 13) Straits Time (Money Page). Selective hiring in banking sector. IB jobs have all but almost dried up. IT jobs massively outsourced to India and Philippine to cut costs. Slightly more opportunities in doing risk compliance in certain niche sectors - and it's not transferable e.g. IB compliance can't do private wealth compliance etc

Anyone care to share if it's really that "negative" as reported, esp when SG overall economy still doing well?

cslee, what do u do & why do u say SG economy is doing well ?

[cslee]

Originally Posted by Unregistered

cslee, what do u do & why do u say SG economy is doing well ?

If ppl still can afford sky-high COEs and properties despite rounds of cooling measures, that mean SG ppl still holding on to high-paying stable jobs i.e. lots of confidence

Originally Posted by Unregistered

You must be kidding me, US$20k per mth is even more than a goldman or mac asso

I'm not quite sure what the whole fuss about goldman or macquarie is. Are they big in Singapore? Those banks don't pay the highest bonuses. Goldman pays the least to juniors because they can get away with it. The numbers i've given you are factual, and what we've received in the past year.

I've offered to share my knowledge on comp as I feel that people have a right to know the truth and not speculate over how much IBD bankers earn. It doesn't deserve half the hype that is out there ("oh he's a banker so he must be filthy rich with 7 lambos and 6 ferraris with a house in the Cove") because most of that are untrue. It's a job, it demands long hours, and you are compensated accordingly for it. That's all there is to it.

Let's not go crazy over something that isn't all that special. If i dont do my job the world isnt gonna change; But if the people in the police/military stop serving i'd love to see what happens.

Hi, I am certainly very surprised that an IB Asso in RBS is getting that "amount", given that the whole IB business was put on sale over the past 18 months with no deals and it is definitely more than a VP package.

[cslee]

Originally Posted by Unregistered

Hi, I am certainly very surprised that an IB Asso in RBS is getting that "amount", given that the whole IB business was put on sale over the past 18 months with no deals and it is definitely more than a VP package.

RBS to split investment banking arm - Business News - Business - London Evening Standard

IB unit of RBS is on chopping board now. Even the head who left won't be replaced. Once split (i.e. without implicit state backing), highly doubt it can "hold" on its own.