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Associate in DBS

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  #11 (permalink)  
Old 24-11-2011, 03:11 PM
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Default Get real

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Originally Posted by Bean View Post
if included aws>>>mean 5 months..

and you stated that not excessive given...

mean in the past on average can get 6-8month bonus, those who perform well can get 8-12month???

Am I correct?
R u a degree holder? I dun think there is any AWS for degree holders in DBS..and lets get real, i dun think the average bonus is so much..dun expect anything more than 3 mths. Unless u are in sales role..then it's a different story.

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  #12 (permalink)  
Old 25-11-2011, 10:51 AM
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I joined as an associate with 5 years of experience doing corporate credit at $4.4K. I had another friend join also as an associate doing risk management for bond valuations think he had ~$6k. Also associate rank.

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  #13 (permalink)  
Old 25-11-2011, 10:55 AM
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It's not that DBS is low, more like you are applying for too junior job. Associate is usually for ppl with 2-4 yrs exp, unless you are switching career mid way, i dun think 7 yrs of relevant exp should apply for associate.

I was from treasury side last time around 5yrs after graduation already manager, so I would think 7 years should be either manager or AVP. Bear in mind that titles in DBS like most banks is inflated one. Manager = Senior Executive, AVP = Assistant Manager VP = Manager etc.

er.. i dunno when you were in DBS but DBS doesn't have manager rank. They have a very flat rank structure which goes

Analyst -> Associate -> AVP -> VP -> SVP -> MD

Thats all they have for ranks.

I joined as an associate with 5 years of experience doing corporate credit at $4.4K. I had another friend join also as an associate doing risk management for bond valuations think he had ~$6k. Also associate too.

Unless you are clerical staff DBS does not pay AWS. So its strictly 12th months.

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  #14 (permalink)  
Old 26-11-2011, 03:34 AM
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Default Serious

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Originally Posted by Unregistered View Post
I joined as an associate with 5 years of experience doing corporate credit at $4.4K. I had another friend join also as an associate doing risk management for bond valuations think he had ~$6k. Also associate rank.
That's really strange..with 5 yrs' exp and they didn't offer u AVP rank? Even for your friend who's making 6k still associate?? We are talking about DBS rite..btw, I'm also associate, making 3.5k/mth only. Guess I'm underpaid.
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  #15 (permalink)  
Old 26-11-2011, 09:58 AM
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Amongst the 3 local banks, who pays the best? I was one rank below AVP in foreign bank,drew 8+ with 3 years exp. Maybe local banks should stop underpaying their staff else all the talent will go to the foreign banks

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That's really strange..with 5 yrs' exp and they didn't offer u AVP rank? Even for your friend who's making 6k still associate?? We are talking about DBS rite..btw, I'm also associate, making 3.5k/mth only. Guess I'm underpaid.
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  #16 (permalink)  
Old 26-11-2011, 10:15 AM
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There are alot of people complaining of excessive paying of employees.
I think this is a good thing. Take revenues as fixed, one dollar saved at staff compensation ultimately means 1 dollar more at net profit level. Keeping things simple, this 1 dollar saved goes out to shareholders as dividends. So it appears this becomes debate of shareholders vs employees. I would say pay the employees. They are the ones who work on the front line. Shareholder who contribute capital but not time and effort
Should take a backseat. Think this improves income equality also.
Just my cents worth

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Amongst the 3 local banks, who pays the best? I was one rank below AVP in foreign bank,drew 8+ with 3 years exp. Maybe local banks should stop underpaying their staff else all the talent will go to the foreign banks
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  #17 (permalink)  
Old 26-11-2011, 04:02 PM
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Default Don't mislead..

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Originally Posted by Unregistered View Post
Amongst the 3 local banks, who pays the best? I was one rank below AVP in foreign bank,drew 8+ with 3 years exp. Maybe local banks should stop underpaying their staff else all the talent will go to the foreign banks
U are 1 rank below AVP and u draw 8+ with 3 yrs' exp?

I think that's the exception rather than the norm. Pls state if u r an investment banker, or in sales & trading front office. Or u are an RM and u included your bonuses..I'm sure 90% of the staff in your bank with your rank, do not draw your pay...we are talking about basic salary only.
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  #18 (permalink)  
Old 27-11-2011, 08:26 PM
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Corp bank front office. Exclude bonus but my base pay had some bonus comped in. This is a bank initiative to avoid appearance of excess bonus. So typical annual bonus becomes only 2 months from previous 6-8

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Originally Posted by Unregistered View Post
U are 1 rank below AVP and u draw 8+ with 3 yrs' exp?

I think that's the exception rather than the norm. Pls state if u r an investment banker, or in sales & trading front office. Or u are an RM and u included your bonuses..I'm sure 90% of the staff in your bank with your rank, do not draw your pay...we are talking about basic salary only.
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  #19 (permalink)  
Old 27-11-2011, 10:51 PM
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Default Don't mislead..

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Corp bank front office. Exclude bonus but my base pay had some bonus comped in. This is a bank initiative to avoid appearance of excess bonus. So typical annual bonus becomes only 2 months from previous 6-8
Fair enough..that's possible. Ya i know some foreign banks cut down on bonuses and increased staffs' basic pay.

U mentioned u have 3 years' exp? U mean in corp banking front office? What's your total no. of years of working exp?

If u only worked for 3 years, (i.e. u grad 3 yrs ago) and u are getting 8k+, that is really awesome..for someone not in investment banking/S&T.
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  #20 (permalink)  
Old 28-11-2011, 11:21 AM
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3.5 years. First job straight after school. The figure seems high but it had some help from the bonus shift. Also, I was on an internal program for accelerate progression. My start pay was 4k+, coupled with the bonus shift adjustment, 8k is on the high side but I wouldnt say it was excessive against similar peers.

I know because when I changed job, there was a pay discussion and I still got 15-20%. If I was excessive versus my experience, I would think it difficult to achieve the same package.

Quote:
Originally Posted by Unregistered View Post
Fair enough..that's possible. Ya i know some foreign banks cut down on bonuses and increased staffs' basic pay.

U mentioned u have 3 years' exp? U mean in corp banking front office? What's your total no. of years of working exp?

If u only worked for 3 years, (i.e. u grad 3 yrs ago) and u are getting 8k+, that is really awesome..for someone not in investment banking/S&T.
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