Associate in DBS

Originally Posted by fxster

Did u have 5 years of pure credit experience without other experiences? $4.4k sounds abit low, too low in fact.

I had 3-4 credit experience only, but 9yrs of working experiences including audit firms and corporate finance. Currently not in Credit Analyst but trying to get in (not particularly DBS, but any bank). Do u think it's reasonable for me to ask for >$7k?

No leh, i had 1.5 years of operations experience, 1 year of pure credit and then 2 years of corporate banking RM experience.

[fxster]

Originally Posted by Unregistered

No leh, i had 1.5 years of operations experience, 1 year of pure credit and then 2 years of corporate banking RM experience.

Oh in that case probably 4.4k sounds reasonable.

Originally Posted by Unregistered

No leh, i had 1.5 years of operations experience, 1 year of pure credit and then 2 years of corporate banking RM experience.

But when u joined for $4.4k, did they give u an increment of 20% over your last drawn basic pay? My impression is normally this is how it works.

hey for DBS, usually how long does it take to get promoted from

analyst -> associate -> avp -> vp ??

assuming you join them as an analyst as a fresh grad

Originally Posted by Unregistered

hey for DBS, usually how long does it take to get promoted from

analyst -> associate -> avp -> vp ??

assuming you join them as an analyst as a fresh grad

8yrs if you are in middle office and you are good
5yrs if you are in front office and you are good

ooh okay thanks!.. I heard from my friends that usually after a while (about 4 years) almost everyone will eventually become an AVP. But from AVP to VP might take very long..is it true?


Then how about those in back office like technology??

Originally Posted by Unregistered

ooh okay thanks!.. I heard from my friends that usually after a while (about 4 years) almost everyone will eventually become an AVP. But from AVP to VP might take very long..is it true?


Then how about those in back office like technology??

If your friend is right and everyone takes 4 years to move from analyst -> associate -> avp that would mean almost a promotion a year. If you ask me, I'd say the good performers might be able to experience this sort of progression. Most people with average performance (forced ranking below the top 10 percentile) would take probably something like 6 years or so to hit AVP. Then again, AVPs in different banks, even amongst the local banks, may not be exactly equal. I believe AVPs in UOB are easier to reach. I've seen AVPs in UOB move on to other banks with a lower ranks, abeit higher pay of course.

Originally Posted by Unregistered

ooh okay thanks!.. I heard from my friends that usually after a while (about 4 years) almost everyone will eventually become an AVP. But from AVP to VP might take very long..is it true?


Then how about those in back office like technology??

There is no such title as AVP back in 2004 in DBS. In fact title is only analyst, associate, VP, MD back then. Not even SVP.
Due to title inflation in the market, and to make the employees happy after many rounds of low bonus 2001-2004 and removal of fixed 15month salary base, DBS started dishing out these inflated titles without any meaningful wage adjustment.
However when market started to pick up in 2006 onwards, people left in doves to join foreign banks who were rapidly expanding, usually with 25% pay increment. A round or two musical chair rotation (at 20% every step) and high yearly increment in foreign banks (10% is quite normal) means most banking salaried workers' wage is up at least 100% from 2006.

Now in 2012, fortune starts to change, many european banks are retrenching, these people are back again, now with equipped with expertise gained in foreign setup, they are now holding titles like SVP. You will find a lot of these in back office technology.....

Originally Posted by Unregistered

There is no such title as AVP back in 2004 in DBS. In fact title is only analyst, associate, VP, MD back then. Not even SVP.
Due to title inflation in the market, and to make the employees happy after many rounds of low bonus 2001-2004 and removal of fixed 15month salary base, DBS started dishing out these inflated titles without any meaningful wage adjustment.
However when market started to pick up in 2006 onwards, people left in doves to join foreign banks who were rapidly expanding, usually with 25% pay increment. A round or two musical chair rotation (at 20% every step) and high yearly increment in foreign banks (10% is quite normal) means most banking salaried workers' wage is up at least 100% from 2006.

Now in 2012, fortune starts to change, many european banks are retrenching, these people are back again, now with equipped with expertise gained in foreign setup, they are now holding titles like SVP. You will find a lot of these in back office technology.....

so moral of story, if you are stuck too long at one rank e.g. AVP, move on. You can rebrand yourself and come back as SVP

Hi,

For those who have experience working in this bank, can kindly advise if

1) i get mid year increment in salary, will I still get another increment at year end? Common, rare or impossible?

2) Is it common for most folks to get mid year increments?

Thanks for any advice/inputs.