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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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25-11-2011, 10:55 AM
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Quote:
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.
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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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26-11-2011, 03:34 AM
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Serious
Quote:
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.
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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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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
Quote:
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.
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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
Quote:
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
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26-11-2011, 04:02 PM
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Don't mislead..
Quote:
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
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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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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
Quote:
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.
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27-11-2011, 10:51 PM
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Don't mislead..
Quote:
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
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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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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
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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