Working in a bank

Originally Posted by Unregistered

You earn more yet u will spend more..you will still be in deep **** when u r retrenched.
Maybe u should go CS or dbs take a look. You b shocked not to see chiobus but aunties.. Doubt u will know this cos u nvr work in bank..even if so, u shld b in consumer or enterprise banking..lol..noob

DBS has aunties. Most of the foreign banks have chiobus even in BO.

Not everyone leads a high life like you do. Some save 90% of their income every single month.

Thanks for the replies especially for the useful ones you know who you are lol.

I see banks and govt are avenues for general degree holders to eventually be at least an assistant head farmer, as well as break the 5k ceiling. It migh be funny to you but for some occupations it can be dead end where 3k looks very high already and forever be minion..

Since one does not need to have white hair to be avp... Is it possible to get stuck in avp/vp role until retirement har? Not that I mind if I ever do get in lol

How is the turnover in a bank like? I'm referring to realistic roles in back or middle office..

[cslee]

Originally Posted by Unregistered

This month, two banks have retrenched its staff. One of them is doing it worldwide (a quick check on the internet will tell you which bank it is). The other bank is pulling its back and middle office out of Singapore (this is a smaller bank but those keeping in touch with business news will know).

All the indicators about the financial services show that its contracting.

I'm not saying that financial and banking sector is not lucrative. Some banks are expanding, yesterday a headhunter called me for a position in the sector. But my point is that one should evaluate the ups and downs of the industry carefully using concrete data and reasons.

I can't help but emphasize that sweeping hearsays from others (including the naysayers) do not assist but muddle the picture.

Extracted from Robert Walters 2012 (http://www.robertwalters.com.sg/file...urvey-2012.pdf) :
Hiring sentiment across the banking and financial services sector remained cautious as many of these firms ‘overhired’ in 2010 and the global economic climate became increasingly uncertain. Despite this, we saw notable demand for sales and relationship managers and credit nalysts in SMEs and corporate banking firms to drive revenue generation. Recruitment demand was also relatively high for professionals in transactional banking as these employers built on the strong fourth quarter of 2010. While some banks opted to fill vacancies by promoting existing staff internally, we saw continued demand for professionals with trade, sales and product expertise, especially for newer product offerings such as liquidity management and forex.

[benice]

Hi all, I m in the insurance industry for 4 years and avg $5K/6K salary now. Thinking to move to bank in their bancassurance. my concern is in long term decreasing of my income as it solely depend on sales and so many regulations from mas..... =x SOS!!! Should i go or not??????? And I also felt that theres prospect here. no light or path from my manager..

Originally Posted by benice

Hi all, I m in the insurance industry for 4 years and avg $5K/6K salary now. Thinking to move to bank in their bancassurance. my concern is in long term decreasing of my income as it solely depend on sales and so many regulations from mas..... =x SOS!!! Should i go or not??????? And I also felt that theres prospect here. no light or path from my manager..

your concern is about the current job or the future one?

Hi does anyone out there know is it hard to get into corporate credit analyst role? How much is the average pay for someone with 5 yrs of experience in this role?

[benice]

Originally Posted by Unregistered

your concern is about the current job or the future one?

I am concerned about still doing sales at 40--50 plus years old.... thats the main reason why i want to move to bank. But really worried that its a wrong move, cos its not easy to build renewal in the insurance line. or rather i m too complacent and dont want move out of comfort zone -_-""
After interview from the bank, i can feel their direction and system. Now that i am still young, i still can fight for sales and move up...

Originally Posted by Unregistered

Hi does anyone out there know is it hard to get into corporate credit analyst role? How much is the average pay for someone with 5 yrs of experience in this role?

Not working as corporate credit analyst but in bank. I guess barrier of entry varies from bank to bank. I believe some banks do employ fresh grad but quite rare. Most required experience, I think. I have no clue how's the pay like with 5 yrs experience.

I'm a corporate credit officer. 7 years of exp drawing 6k bonus about 4 months ba...

Originally Posted by Unregistered

I'm a corporate credit officer. 7 years of exp drawing 6k bonus about 4 months ba...

Thats almost 100k. Be contented.