Strange. A well known organization also uses the same trick to attract "ministers", but all they get are half-past-sixes, some of whom can't even speak properly.

Now THIS, is much more accurate.

I think the above figures are only for those in the graduate program which is only a small number of ppl and arguably hard to get in? What I mean is for eg. If one gets into the Ops grad program, one will draw 50k p.a. BUT if after grad I work first in another organisation before joining Barclays, then the salary may be lower than 50k (i.e. direct hires who are not under the graduate program will be paid differently..) So the above figures may seem very nice..but only the selected few who passed thru all the interviews and got offered into the graduate prog will draw that kinda salary..moreover foreign banks incl. Barclays are paying poor bonuses (if any) lately..just to give a more balanced perspective

The salaries there are pretty accurate, even for someone who is direct hire would minimally get that sum or +-5k.

Here are some cold-hard facts on Barclays Backoffice in Singapore:
1) Bonuses in Barclays is in the form of weeks, if any.
2) Offshoring is huge now. MANY will be retrenched in time to come.

Just curious from an outsider's perspective. Isn't it good in a way for Barc employees when their bonuses are cut but they get an upward adjustment in their base salary? Though their overall package is lesser now, when they go for their next job interview, HR will give them an increment above their base salary, which was already increased by Barcs, regardless of the bonus amt. Makes sense?

Barclays pay structure is a known fact in the industry, so what they really look at is your annual compensation.

Moreover, the salaries you see above are already upward adjusted. The adjustment in base is not even 10%.

barclays only come onshore in sg a short time back. There is always retrenchment in the other sectors in sg eg engineering, etc, so this is favorite topic for any sg observer.

It has been so long already. Have u seen any offshoring in sg banking already ?

Many functions in backoffice in all the Investments Banks in Singapore are getting offshored, and retrenchment is big, and happening right now as we speak.

Ask any industry insiders...

Singapore is getting very expensive for backoffice functions, especially with the appreciation of the SGD and rise in rents.

Barclays, Morgan Stanley, BoA.. They are all offshoring their Singapore functions as much as possible...

if this is the case, WTF who paid to hire who all these idiots in the Graduate Programs now ?

1. On offshoring:

Offshoring has been happening for years. At first, the banks move their back office staff to places like Changi and their not so important functions to places such as Alexandra etc to alleviate staff costs.

For the lowest of the value chain, these get outsourced to India, Malaysia. How else do you think that front office gets paid so well? Something got to give.

The only positive thing right now is that we are still cheaper than HK. For regional operations, the executive office have to be hubbed somewhere (HK, Sin). So for front office staff, we are still safe. For back-office, it doesn't matter where you sit. Any country with cheap labour, housing and rent will fit the bill.

2. On base pay moving on to new job:

Employers usually discuss on total compensation (instead of base pay) basis. So it doesn't mean that moving on with high base will definitely be a plus for you. It actually make work against you. Companies maybe quick to term you as expensive if your base pay appears high for the job.