Associate in DBS

Originally Posted by Bean

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.

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.

Originally Posted by Unregistered

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.

Originally Posted by Unregistered

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.

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

Originally Posted by Unregistered

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.

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

Originally Posted by Unregistered

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

Originally Posted by Unregistered

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.

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

Originally Posted by Unregistered

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.

Originally Posted by Unregistered

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.

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.

Originally Posted by Unregistered

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.