Working in a bank - Page 52 - 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




Working in a bank

Reply
 
Thread Tools
  #511 (permalink)  
Old 22-05-2018, 10:15 PM
Unregistered
Guest
 
Posts: n/a
Default

thanks for the insights. having done executive search before for a short time i agree, most ppl will be shock if they ever find out how much the so call condemn functions like ops, hr, it, finance etc. are making. in many case its even higher than those frontline functions.

main difference is those frontline sales and customer facing function have a culture willing to spend, brag and act cool, so ppl w/o industry knowledge get the wrong impression they are very rich.

Quote:
Originally Posted by Unregistered View Post
I disagree with the common misconception that ops is boring SOP nothing to learn and no future while "FO" (don't think anyone in banking industry considers them FO btw) like Priority, Private, Commercial or Corporate Banking is sexy, exciting, high paying and can progress quickly.

Ops side also got people move up to SVP or MD level and if you are a low level Manager or AVP grunt the work is going to be boring as you are really just doing all the 'sai gang' for the higher ups. Other than those elite jobs where people with talents or connections jump straight into action, this sort of hardship is just requirement that most people need to go through for the first 10-20 years of their career.

Sometimes I hear similar complains from my peers in other industries always saying how support or ops depts cannot make it nothing to learn and sales & marketing is where all the action & money is. But if you look at it objectively, IT support also can rise up to IT Director / CTO, Procurement can be Supply Chain Director, operations can be COO etc.

It's all about whether you can move up the ladder with a combination of performance, politics, connections and luck. This idea that the closer you are to revenue generating and customer facing, the more to learn and faster salary progression is just not true for most industries including banking.

Reply With Quote
  #512 (permalink)  
Old 23-05-2018, 10:08 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
thanks for the insights. having done executive search before for a short time i agree, most ppl will be shock if they ever find out how much the so call condemn functions like ops, hr, it, finance etc. are making. in many case its even higher than those frontline functions.

main difference is those frontline sales and customer facing function have a culture willing to spend, brag and act cool, so ppl w/o industry knowledge get the wrong impression they are very rich.
his is an insight that I'm encountering for the first time. If you don't mind sharing, and just to put things into perspective, how much can someone in a so called "condemned" function like ops be raking in with say, 5 yrs and 10 yrs of exp?
From what I know, people in non front-line functions are usually paid less at the junior levels, so does this gap decrease towards the senior levels?



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
  #513 (permalink)  
Old 24-05-2018, 02:25 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
his is an insight that I'm encountering for the first time. If you don't mind sharing, and just to put things into perspective, how much can someone in a so called "condemned" function like ops be raking in with say, 5 yrs and 10 yrs of exp?
From what I know, people in non front-line functions are usually paid less at the junior levels, so does this gap decrease towards the senior levels?
I think the gap between a foreign bank vs a local bank is pretty big. For example, GS/JPM pays their fresh grads in ops about 4.5k starting.

The base does tend to narrow to a certain extent a higher level, but the bonus are way more in FO, some times more than the base even in a good year of deals.

Reply With Quote
  #514 (permalink)  
Old 12-06-2018, 12:39 AM
Unregistered
Guest
 
Posts: n/a
Default

How is the culture like at the BBs? Bunch of money-minded alphas and egos, should be brutal?
Reply With Quote
  #515 (permalink)  
Old 12-06-2018, 01:26 AM
Junior Member
 
Join Date: Jun 2017
Posts: 4
JAMJAM is on a distinguished road
Default

I am one year in one of the civil service doing accounting work. Drawing about 5k pm excluding bonuses. However, I am thinking of joining the bank in middle office/front office under fresh graduate hire .

I do not have past internship experiences in bank. However, I want a more challenging lifestyle and I don't mind the pay cut as long as there's good progression. What are the chances of me able to join the mid/front office?

Thanks in advance
Reply With Quote
  #516 (permalink)  
Old 12-06-2018, 07:43 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by JAMJAM View Post
I am one year in one of the civil service doing accounting work. Drawing about 5k pm excluding bonuses. However, I am thinking of joining the bank in middle office/front office under fresh graduate hire .

I do not have past internship experiences in bank. However, I want a more challenging lifestyle and I don't mind the pay cut as long as there's good progression. What are the chances of me able to join the mid/front office?

Thanks in advance
Your pay in civil service is high as an entry level.

Are you sure you want a pay cut? Unless you join a graduate program, your starting pay will probably be between 3k to 4k. Your one year is civil service is not relevant as the tenure is too short and the experience is not related as well.
Reply With Quote

  #517 (permalink)  
Old 12-06-2018, 11:01 AM
Unregistered
Guest
 
Posts: n/a
Default Angsty people

Why was everyone so b*tchy towards TS? He was just trying to find out more about this industry. Can't people have dreams?!
Reply With Quote
  #518 (permalink)  
Old 12-06-2018, 11:38 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Your pay in civil service is high as an entry level.

Are you sure you want a pay cut? Unless you join a graduate program, your starting pay will probably be between 3k to 4k. Your one year is civil service is not relevant as the tenure is too shorrt and the experience is not related as well.
I donít mind the pay cut as I took up civil service to pay off some of my loan and to accumulate some capital. But I would need some guidance on this to jump to private sector as fresh grad as I am concern more about career progression. I am afraid I wonít even get through the first round in bank since most of the pipe line is from summer internship programme. Hope someone is able to shed some light on this.
Reply With Quote
  #519 (permalink)  
Old 13-06-2018, 12:59 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I donít mind the pay cut as I took up civil service to pay off some of my loan and to accumulate some capital. But I would need some guidance on this to jump to private sector as fresh grad as I am concern more about career progression. I am afraid I wonít even get through the first round in bank since most of the pipe line is from summer internship programme. Hope someone is able to shed some light on this.
Bump for replies!
Reply With Quote
  #520 (permalink)  
Old 17-06-2018, 08:13 PM
Unregistered
Guest
 
Posts: n/a
Default

There is a very fking big difference between IBD, Prop desk, FICC sales and the losers who stand at mrt stations, bank branches, wearing Hermes, Ferragamo, Gucci belts. Many of them purchase fake rolexes, panerai, but have no money to go overseas except for fking Bangkok. For the losers selling loans, insurance, financial plans, they have rubbish basic salary and have little to zero knowledge on anything related to financial markets. All the AXA, AIA, and people who have titles such as relationship manager @ DBS, personal financial consultant, are making peanuts ands targeting elders to hit their sales targets.

These losers draw 2.8-3.3k and dress like their making 10k which is the base of an FICC sales and trading intern. But their language, their grooming, reveals they are nothing but rejects. I laugh Everytime I see these wannabes.
Reply With Quote
Reply

Bookmarks

Tags
bank, banking, finance, financial, financial institution, investment banking

« 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
anyone working at NCS ? newbirdinsg Income and Jobs 257 26-06-2018 11:09 AM
Poor working class Salary.sg Income and Jobs 2 25-03-2016 01:04 AM
Working culture in US MNC Karlena Income and Jobs 10 14-07-2010 10:22 AM
Bank executives work long hours Salary.sg Income and Jobs 2 25-05-2008 03:02 PM
High pay for bank operations recruits Salary.sg Income and Jobs 0 11-07-2007 01:53 PM

» 30 Recent Threads
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
1,961 Replies, 1,200,870 Views
Breaking the Letter Of Commitment... ( 1 2)
12 Replies, 5,087 Views
Freight Forwarding industry --...
1 Replies, 168 Views
Compare civil service salary ( 1 2 3... Last Page)
7,177 Replies, 3,917,987 Views
Lawyer Salary ( 1 2 3... Last Page)
3,506 Replies, 1,092,365 Views
Constituency Manager (People... ( 1 2 3... Last Page)
580 Replies, 285,005 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,020 Replies, 461,088 Views
NUS working environment and pay... ( 1 2 3... Last Page)
46 Replies, 29,100 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
1,821 Replies, 623,489 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,224 Replies, 363,864 Views
ExxonMobil...
3 Replies, 876 Views
Exxon Mobil Equipment tech or... ( 1 2 3... Last Page)
1,324 Replies, 285,897 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
2,236 Replies, 999,320 Views
Changi Airport Group ( 1 2 3... Last Page)
346 Replies, 227,026 Views
Has anyone heard of KSB Singapore?
0 Replies, 145 Views
Micron fresh grad salary
2 Replies, 1,492 Views
Advice needed (Career change)
5 Replies, 552 Views
Job Application with MOE... ( 1 2 3... Last Page)
161 Replies, 128,984 Views
ST Electronics ( 1 2 3... Last Page)
180 Replies, 71,865 Views
Signed contract, but pending...
0 Replies, 297 Views
how to handle one offer and...
2 Replies, 425 Views
Queries about Cpib application ( 1 2 3... Last Page)
885 Replies, 323,263 Views
Ministry of Transport Queries
2 Replies, 277 Views
Capitaland Graduate Development...
8 Replies, 11,129 Views
Siemens engineering graduate...
2 Replies, 602 Views
Direct Contract vs External...
3 Replies, 321 Views
JP Morgan ( 1 2)
16 Replies, 7,933 Views
Career as Teacher ( 1 2 3... Last Page)
1,157 Replies, 825,906 Views
N/O Level Holder ( 1 2 3)
29 Replies, 12,690 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
736 Replies, 473,022 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:14 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2