Working in a bank

[l0vely]

Hi guys/girls

quick question.

I need some honest opinions.

I'm current working in a back office role in a bank (drawing about 3k)
I have a job offer from one of the brokerage firm as a equity sales dealer.

of course the new job is commission based and I will have to take a pay cut.

would you guys suggest I take the new role? I'm stuck here in back office for 2.5 years with no career progression and pay is not high. However, if I do switch into being a sales dealer, I may be kicked out if I do not perform well. I've tried applying to do other functions in a bank but did not receive any response. I do not want to be stuck in back office forever. I am also not aiming to become an investment banker or whatever big shots. I'm realistic and if i were to take up this new job as a stockbroker, will it put me in a better position in future compared to my back office role im doing currently.

I appreciate all your kind input. Should I jump or search patiently for a job?

Originally Posted by l0vely

Hi guys/girls

quick question.

I need some honest opinions.

I'm current working in a back office role in a bank (drawing about 3k)
I have a job offer from one of the brokerage firm as a equity sales dealer.

of course the new job is commission based and I will have to take a pay cut.

would you guys suggest I take the new role? I'm stuck here in back office for 2.5 years with no career progression and pay is not high. However, if I do switch into being a sales dealer, I may be kicked out if I do not perform well. I've tried applying to do other functions in a bank but did not receive any response. I do not want to be stuck in back office forever. I am also not aiming to become an investment banker or whatever big shots. I'm realistic and if i were to take up this new job as a stockbroker, will it put me in a better position in future compared to my back office role im doing currently.

I appreciate all your kind input. Should I jump or search patiently for a job?

Equity sales dealer is a glorified name for remisier. Remisiers are a dying lot in Singapore and everywhere else that is developed, due to technology taking over the need for their positions in the equity market.

Do not take up this position, it will only bring u undue pressure, fear of job security and endless rejections.

[l0vely]

Originally Posted by Unregistered

Equity sales dealer is a glorified name for remisier. Remisiers are a dying lot in Singapore and everywhere else that is developed, due to technology taking over the need for their positions in the equity market.

Do not take up this position, it will only bring u undue pressure, fear of job security and endless rejections.

Hi thank you for your reply. If that is the case, would u recommend me to stay at my current job while also looking out for other positions in other banks? As I am to work in Treasury Dept, where else would i get the opportunity since most people wouldn't give back OPS people a chance. One of the reason is because if i were to do a switch, i would be able to add sales/trading/market experience into my resume which may enhance my job search.

any input is greatly appreciated.

Hi can anyone share the salary progression for banking ops these days? From analyst, senior analyst, avp etc. Thanks

Analyst - 4.7k
Snr analyst - 7k
Avp - 9k
Vp - 12k

Originally Posted by Unregistered

Hi can anyone share the salary progression for banking ops these days? From analyst, senior analyst, avp etc. Thanks

Can anyone doing treasury settlements share your experience? What to expect and stuff

Originally Posted by Unregistered

Analyst - 4.7k
Snr analyst - 7k
Avp - 9k
Vp - 12k

don't mean to be rude, but I think these numbers are pretty inflated?
from what I know, a starting of 4.7k may only be possible if you are in one of the programs in the IBs.
for normal hires, i believe the range is as such, please correct me if I am wrong as I am still considered a greenhorn.

analyst = 3 - 4k
senior analyst = 4 - 5k
avp = 5 - 6k for fresh avp(?)
vp = 10 - 12k

also curious to know if there are any specific types of ops that may make more than the others?

I am caught in a dilemma between two offers:

1) Local bank- Treasury ops (6mth contract)
2) One of the largest American bank- KYC (1yr contract)

The local bank is offering $200 more per month, both renewable subj to performance, conversion to perm not guaranteed. I'm not sure which of these 2 functions I would be more keen on in the long run but I think I might want to build a career in compliance instead of doing treasury ops.

Can anyone please share your experience on the job prospects and duties for either function? From what I know treasury is a highly demanding job, long hours and sometimes requires you to work on weekends/public holidays.

Originally Posted by Unregistered

Analyst - 4.7k
Snr analyst - 7k
Avp - 9k
Vp - 12k

Does this pay scale apply to local banks?

[anxiousboii]

compliance seems to be in demand and would be a good area to build a career. i would probably pick compliance if i were in your shoes.