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Not a great difference in pay (pretty minimal), but still noticeable. It is also more likely (although still low) for MO folks to lateral to FO as they are closer to the revenue generating side of the business as compared to those in BO (which are typically situated outside the country or CBD). |
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Salary wise, again, I didn't see any noticeable difference on both sides. Neither did my colleagues. I was sometimes lower in your "MO", sometimes higher in "BO". Can't say I know fully how compensation is attributed across teams, but pretty sure they don't give a bigger pie to MO over BO, simply because in these BBs, the bosses do not really care. |
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Anyway I’m not sure which BB you are in, but most BBs here have their BO situated outside of CBD and tbf only MO roles like risk and trade support are actually on the same floor/building as the FO folks. |
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GS has 2 offices: One Raffles Link and Mapletree Anson (both in CBD) JPM has 2 offices: Capital Towers (CBD) and One@Changi (Changi Business Park) MS has 1 office: Capital Square (CBD) Agree, *only a small handful* MOs sit with the desk, not all. Reason being, the trading desks in Singapore are way smaller compared to that in HK (In all 3 banks, their APAC headquarters is HK, and not Singapore). Hence we are in a situation where most of the FO are in HK, yet most of the MO/BO are in SG. ---- Just a funfact: trading desk risk can be both an FO or MO/BO function (ie they get FO pay or BO/MO pay respectively). And as previously mentioned, trade support need not sit with the sales/traders to do their jobs, and banks realize this. In large investment banks with many product offerings, it makes more sense to put 2 different trading desks together rather than an FO+MO combination. Reason being, their trading business is so mature, such that 1 good way of capturing more revenues from existing clients, is to offer cross-asset/product solutions (hence need for multiple desks working together) |
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Not a VP yet (hoping to get it in the coming year or next), hence can't provide much info for that. VP/ED salaries have a larger salary band as compared to the junior level, so I'd imagine the bonus range to be wider; probably 20k upwards. "% of bonus" probably becomes a larger factor as well; can't imagine a very senior VP to be only getting 10-15k. He would be pissed lol |
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Just curious, how are the working hours and consequently WLB like? Am I at a disadvantage if I don’t join the MO/BO graduate program as a fresh grad? |
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If you're joining JPM/MS, your salary trajectory will probably be slightly slower, but your hours will be lesser as well. No disadvantage to being an experienced hire, or joining from another company. This 3 banks don't have "MA" programmes or "scholars" like others where you are supposedly fast-tracked. Yes they do have some specialist programmes for people in specific roles, like finance or technology etc, but it has no impact on your future salary/career progression. |
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Thanks for the spontaneous replies by the way! |
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