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Fresh Graduate with offer in banking role requiring 4 years experience

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Old 10-03-2020, 02:26 AM
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Default Fresh Graduate with offer in banking role requiring 4 years experience

I just got an offer for a credit risk analyst banking role (local bank) requiring at least 4 years of experience in banking. I am a 2nd lower from a local university (NTU/NUS/SMU) and I have also interned in the same division and same bank before (6 months). I also have another risk-related internship (3 months) in an investment company.

Is 3.3k base a reasonable pay? HR doesn't want to disclose the average bonuses but from online sources its around 1-3months based on performance, and also the base pay is non-negotiable.

Being a fresh grad, I know the job might be tough as I have no experience and the JD states a minimum of 4 yrs in banking. Is this a good opportunity?

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Old 10-03-2020, 02:34 AM
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You can try to negotiate the base to 4+k, but you have no leverage and nothing to back yourself up. If you have a counter offer for more than 3.3k, this is where you tell them you're gonna take up the counter offer.

If you don't have anything, you can try your luck with a "if you offer 4k, I'll sign now". But if they call your bluff, you're back to square one at 3.3k.

They're low balling you, but they also know you don't have a backup.

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Old 10-03-2020, 02:57 AM
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Quote:
Originally Posted by Unregistered View Post
You can try to negotiate the base to 4+k, but you have no leverage and nothing to back yourself up. If you have a counter offer for more than 3.3k, this is where you tell them you're gonna take up the counter offer.

If you don't have anything, you can try your luck with a "if you offer 4k, I'll sign now". But if they call your bluff, you're back to square one at 3.3k.

They're low balling you, but they also know you don't have a backup.
Thanks for your reply, just wondering how often and how much local banks give out salary increments? I don't mind starting with a low base because I'm quite confident I can perform well given my previous internships in risk management, but not sure of how this entire salary increment system works and its frequency.

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Old 10-03-2020, 03:54 PM
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Thanks for your reply, just wondering how often and how much local banks give out salary increments? I don't mind starting with a low base because I'm quite confident I can perform well given my previous internships in risk management, but not sure of how this entire salary increment system works and its frequency.
can't answer regarding the increments part but i can confirm for direct hire roles, 3.3k is the norm in local banks. 4k+ is only for management associates. you're right about bonuses, usually 1-3 months.

you can try asking for 3.6-3.8k but i think 4 will be out of the question. just my opinion. in any case, it might be good to accept this role and continue hunting for other jobs so that you have some leverage
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Old 10-03-2020, 07:36 PM
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can't answer regarding the increments part but i can confirm for direct hire roles, 3.3k is the norm in local banks. 4k+ is only for management associates. you're right about bonuses, usually 1-3 months.

you can try asking for 3.6-3.8k but i think 4 will be out of the question. just my opinion. in any case, it might be good to accept this role and continue hunting for other jobs so that you have some leverage
i can second this, but bonuses would range from 2months onwards based on department.
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Old 11-03-2020, 07:18 AM
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wow sub k and originally intended for people with 4 years of exp? either times are bad or the bank just trying to lowball to the max.

usually roles intended for people with 4 years of experience will hit almost 10k.

example:
enter at near 5k
1st year: 5k+
2nd year: promoted at 7k+
3rd year: 7k+
4th year: promoted at 10k+
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Old 11-03-2020, 10:26 AM
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Originally Posted by Unregistered View Post
wow sub k and originally intended for people with 4 years of exp? either times are bad or the bank just trying to lowball to the max.

usually roles intended for people with 4 years of experience will hit almost 10k.

example:
enter at near 5k
1st year: 5k+
2nd year: promoted at 7k+
3rd year: 7k+
4th year: promoted at 10k+
for local or foreign banks?? local banks dont pay near 5k for fresh grads unless its their MA prog
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Old 12-03-2020, 10:24 PM
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for local or foreign banks?? local banks dont pay near 5k for fresh grads unless its their MA prog
Local banks also don't pay their MA near 5k. DBS, OCBC and UOB all less than 4.5k. Only foreign banks willing to pay 5k.
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Old 12-03-2020, 11:21 PM
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Local banks also don't pay their MA near 5k. DBS, OCBC and UOB all less than 4.5k. Only foreign banks willing to pay 5k.
BOS, OCBC (for FCH), DBS (before they phased out MA for fresh grads) pays above 4.5k..
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Old 13-03-2020, 01:47 PM
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I just got an offer for a credit risk analyst banking role (local bank) requiring at least 4 years of experience in banking. I am a 2nd lower from a local university (NTU/NUS/SMU) and I have also interned in the same division and same bank before (6 months). I also have another risk-related internship (3 months) in an investment company.

Is 3.3k base a reasonable pay? HR doesn't want to disclose the average bonuses but from online sources its around 1-3months based on performance, and also the base pay is non-negotiable.

Being a fresh grad, I know the job might be tough as I have no experience and the JD states a minimum of 4 yrs in banking. Is this a good opportunity?
llst 2nd lowers just take..

u from finance degree?
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