Anyone work in JPM/GS/Morgan Stanley back office before? - Page 7 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Anyone work in JPM/GS/Morgan Stanley back office before?

Reply
 
Thread Tools
  #61 (permalink)  
Old 11-10-2021, 02:57 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Is this range for local grads only or it doesn't matter? even though i have an annual salary growth of 17%, i was just getting this amount after a few years of experience. my starting pay as a fresh grad was only 2.5k at a big bank MO but not BB. seeing this is demoralising lol
This number is for fresh grads. Once you get through the door, they don't distinguish whether you are local uni or private. If you have prior experience, naturally u can command more.

Reply With Quote
  #62 (permalink)  
Old 11-10-2021, 03:21 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I'm not the poster of that claim, but I work in BB MO/BO.

Depends how expensive you want your condo and car to be.
At a base salary of slightly >100k per annum. Within 5-6 years, I am able to afford downpayment for a 1.5m condo + a decent continental car by myself if I want.

Of course, tanking the monthly installments is a challenge if you're doing it by yourself (about 40-50% of your take home pay will go to loan/mortgage payments), but definitely doable.
The mortgage will make you miserable every month. Once retrenched, you need to think of a way to survive.

Reply With Quote
  #63 (permalink)  
Old 11-10-2021, 03:49 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Is this range for local grads only or it doesn't matter? even though i have an annual salary growth of 17%, i was just getting this amount after a few years of experience. my starting pay as a fresh grad was only 2.5k at a big bank MO but not BB. seeing this is demoralising lol
Why so low only 2.5k? Seems way below market for a degree holder at big bank MO.

Reply With Quote
  #64 (permalink)  
Old 11-10-2021, 04:08 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Why so low only 2.5k? Seems way below market for a degree holder at big bank MO.
started out as contract then converted to perm and got an off cycle pay raise to peg salary to market. but even so, i was just getting 3.2k with 1 year of experience. am doing KYC and looked into the compliance thread, this seems to the norm i think? that's why was surprised that BB MO/BO pays 4 to 5k for fresh grads. even my ex-colleagues who jumped to BB was just getting that amount after 2 to 3 years of experience - probably due to their low starting pay.
Reply With Quote
  #65 (permalink)  
Old 23-10-2021, 11:03 AM
Unregistered
Guest
 
Posts: n/a
Default

Hey anyone with an idea of how's the culture and work life balance as a trainee with SocGen? Had an offer from them but still have yet to decide whether to accept. Also, what's the chances of being converted after 2 years?
Reply With Quote
  #66 (permalink)  
Old 23-10-2021, 10:25 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
started out as contract then converted to perm and got an off cycle pay raise to peg salary to market. but even so, i was just getting 3.2k with 1 year of experience. am doing KYC and looked into the compliance thread, this seems to the norm i think? that's why was surprised that BB MO/BO pays 4 to 5k for fresh grads. even my ex-colleagues who jumped to BB was just getting that amount after 2 to 3 years of experience - probably due to their low starting pay.
BB MO/BO 4-5k fresh grad yes usually for those in the grad programme which is highly selective anyways. Can't compare with other ppl who may perhaps start MO/BO entry level in other banks and then hop around to reach BBs.
Reply With Quote

  #67 (permalink)  
Old 24-10-2021, 11:06 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Yeah definitely doable. 5-6 years for high performers usually Around 120-160k already total compensation. Quite dangerous if going solo as bb axe people fast and furious if underperform. Assuming combine with wife who draws an average salary say 5k per month and mortgage would be a breeze. Conti car is definitely easily within reach.

Disclaimer: only for US big 3 BBs
Absolute rubbish... There's a reason why a bulk of the ops people are looking to move into FO. There's a slim chance of a 120k maybe for 1 out of 100 ops monkeys. To the people looking to move into BB ops, please just go to glassdoor and search operations analyst salaries. Take the average and Add in 1-5% increment yearly for accurate salary trajectory.
Reply With Quote
  #68 (permalink)  
Old 24-10-2021, 01:19 PM
Unregistered
Guest
 
Posts: n/a
Default

There is a reason why FO are paid higher besides them bringing in the money…When I was in FO in a BB, there are severe compliance restrictions on trading. buy 1 stock need so many approval, by the time approval is here, the stock price already priced in all the factors.

So I choose to move away from FO, no regrets.
Reply With Quote
  #69 (permalink)  
Old 24-10-2021, 03:10 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
There is a reason why FO are paid higher besides them bringing in the money…When I was in FO in a BB, there are severe compliance restrictions on trading. buy 1 stock need so many approval, by the time approval is here, the stock price already priced in all the factors.

So I choose to move away from FO, no regrets.
Rubbish. Don't know which backward company you work for but my compliance approves within the same day.
Reply With Quote
  #70 (permalink)  
Old 26-10-2021, 06:11 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Rubbish. Don't know which backward company you work for but my compliance approves within the same day.
I work for one of the 3 banks listed here. Lol u only need to get compliance approval? Then MAS should close down your bank soon. And also dont forget about the 30 day holding period. U absolutely can't buy stocks like DWAC for a quick fortune and thrill when there are such restrictions lol.

For me I simply cant take away trading from my life, it helps to bring joy and destress me from work, so choosing to go away from FO is a natural choice.
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Banking - Back Office fishball Income and Jobs 239 20-09-2021 10:22 PM
Standard Chartered Bank Back Office brandon Income and Jobs 51 26-01-2021 08:09 PM
jump from back office to front office graduation bear Income and Jobs 43 01-12-2016 08:12 PM
Salary for Research Analyst at Morgan Stanley / Detuche Bank? jjason Income and Jobs 3 04-10-2015 04:43 PM
Big 4 back-office rank & salary structure adclicko1 Income and Jobs 1 30-08-2015 11:47 AM

» 30 Recent Threads
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
8,189 Replies, 2,401,412 Views
Micron starting pay ( 1 2 3... Last Page)
430 Replies, 160,025 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,601 Replies, 2,022,177 Views
Lawyer Salary ( 1 2 3... Last Page)
17,130 Replies, 6,430,373 Views
ST Electronics ( 1 2 3... Last Page)
2,791 Replies, 844,648 Views
DBS tech seed programme ( 1 2 3... Last Page)
2,138 Replies, 564,060 Views
How is life as a doctor in... ( 1 2 3... Last Page)
3,970 Replies, 1,920,249 Views
Engineer Pay ( 1 2 3... Last Page)
454 Replies, 240,328 Views
Compare civil service salary ( 1 2 3... Last Page)
14,217 Replies, 8,903,382 Views
High Finance Thread ( 1 2 3... Last Page)
1,128 Replies, 253,173 Views
Roles in accenture singapore ( 1 2 3... Last Page)
4,755 Replies, 956,024 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
501 Replies, 140,505 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,060 Replies, 2,930,333 Views
Official 2022 Retrechment thread ( 1 2 3... Last Page)
76 Replies, 7,677 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,613 Replies, 3,093,118 Views
Career as Teacher ( 1 2 3... Last Page)
5,616 Replies, 3,495,684 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
230 Replies, 251,570 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
957 Replies, 629,993 Views
Singtel Management Associate... ( 1 2 3... Last Page)
1,133 Replies, 296,992 Views
GovTech ( 1 2 3... Last Page)
3,172 Replies, 853,298 Views
Queries about Cpib application ( 1 2 3... Last Page)
1,300 Replies, 707,531 Views
ByteDance / TikTok ( 1 2)
17 Replies, 3,859 Views
2022 Full time/Summer internship... ( 1 2)
16 Replies, 2,308 Views
Open Government Products (under...
9 Replies, 964 Views
Want to Save More Money? Our Free...
6 Replies, 8,487 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
4,379 Replies, 2,296,506 Views
Work culture in IHiS ( 1 2 3... Last Page)
331 Replies, 222,608 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
91 Replies, 131,064 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,155 Replies, 517,594 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,279 Replies, 1,496,649 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 09:38 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2