Salary.sg Forums - Anyone work in JPM/GS/Morgan Stanley back office before?

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Quote:

Originally Posted by Unregistered (Post 260687)

This is similar to what I heard. Kinda a bit sian since HR keep pushing for me to join earlier. Thought maybe there was a chance increment is prorated but guess not. I had a colleague who is in the firm for around 7 years tell me her increment is high single digit every year though and this is not even including the 2021 hike. She might even be considered below average performer, joined as associate and still an associate, don't want to get promoted as not interested in leading a team. Surprised she is getting higher than the <5% I heard from the other colleagues. She only does BAU and never does projects so not sure why the difference too.

This is my first increment/bonus season so quite curious what will happen. Many experienced colleagues already say will leave if they get lesser than they expect so a bit worried for my own role as I am still learning and still quite reliant on the seniors for difficult issues.

Why worry? I've been in the firm longer than your colleague has, and I can tell you that top performers get double digit increments over the long run (I've been there). There will be down years and good years, but if you stick it out and you're a good performer, it will reward you on average. If they leave, more pressure for you, but also your chance to prove yourself. GS is still one of the top paymasters for back office; because they make you work damn hard and put in long hours compared to other houses. Leave when you get a better role (like FO) or if you want work life balance.

Serious guy

how do I get in JPM morgan?

is it need referral

and the salary of JPM tech job is it good?

where is the office of JPM?

please advise

Quote:

Originally Posted by Unregistered (Post 260719)

Serious guy

how do I get in JPM morgan?

is it need referral

and the salary of JPM tech job is it good?

where is the office of JPM?

please advise

1. Apply
2. Depends
3. Google

For questions like these, U shld do ur research or give more thought/details before asking

Quote:

Originally Posted by Unregistered (Post 260687)

A newly promoted VP in GS ops earns around 8-10k and can reach there in about 6 years from graduation. If you even that out, it is approximately 10% annual increment.

Quote:

Originally Posted by Unregistered (Post 260857)

A newly promoted VP in GS ops earns around 8-10k and can reach there in about 6 years from graduation. If you even that out, it is approximately 10% annual increment.

That can’t be true? JPM fastest track to VP can be 5.5 years (from grad program) and the base is already 10k or slightly north of 10k.

Quote:

Originally Posted by Unregistered (Post 260874)

That can’t be true? JPM fastest track to VP can be 5.5 years (from grad program) and the base is already 10k or slightly north of 10k.

The information between JPM and GS is actually pretty close. 5.5 = 6 years because local grads finish uni mid year. 8-10k depends on the economy and firm performance. So there will be some variance, regardless of whether Ure are JPM or GS. People tend to think salary bands are hard cutoffs, but they are usually quite fluid, especially in US banks

Given most people will stay in VP position for a long time, does your salary stagnant or more increments and bonuses?

Quote:

Originally Posted by Unregistered (Post 260894)

Given most people will stay in VP position for a long time, does your salary stagnant or more increments and bonuses?

For high performers, definitely higher (it's applied on a larger base after all). AVG performers will get steady increments. Poor performers, well...your overall compensation may drop. That's a sign U r on the target board for layoffs, if it comes.

Quote:

Originally Posted by Unregistered (Post 260857)

A newly promoted VP in GS ops earns around 8-10k and can reach there in about 6 years from graduation. If you even that out, it is approximately 10% annual increment.

is 8-10k for VP with 6 years exp accurate? am quite bewildered that VP can be as low as 8k, thought it should be minimally 12k or so..

Quote:

Originally Posted by Unregistered (Post 260930)

is 8-10k for VP with 6 years exp accurate? am quite bewildered that VP can be as low as 8k, thought it should be minimally 12k or so..

Nah it isn’t. But for high flyers (think 5 YOE to VP), their base may be slightly lower than your avg VP at the start. But total comp will clear 120k even as a junior VP in BO.