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-   -   Anyone work in JPM/GS/Morgan Stanley back office before? (https://forums.salary.sg/income-jobs/13670-anyone-work-jpm-gs-morgan-stanley-back-office-before.html)

Unregistered 18-11-2023 12:57 AM
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.

Unregistered 18-11-2023 11:29 AM
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

Unregistered 18-11-2023 01:06 PM
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

Unregistered 19-11-2023 11:35 PM
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.
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.

Unregistered 20-11-2023 08:06 AM
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.

Unregistered 20-11-2023 08:31 AM
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

Unregistered 20-11-2023 02:00 PM
Given most people will stay in VP position for a long time, does your salary stagnant or more increments and bonuses?

Unregistered 20-11-2023 06:08 PM
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.

Unregistered 20-11-2023 09:13 PM
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..

Unregistered 20-11-2023 09:27 PM
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.

Unregistered 20-11-2023 10:15 PM
May I check which middle office function is the best to progress in, or is all the pay generally the same?

Unregistered 20-11-2023 10:38 PM
Quote:
Originally Posted by Unregistered (Post 260940)
May I check which middle office function is the best to progress in, or is all the pay generally the same?
Generally the same. The difference won't make much of a, er, difference. Also, these 3 banks don't really have much differentiation between MO/BO too. You are just "not FO".

Unregistered 20-11-2023 11:00 PM
How's the average working hours for back office?

Unregistered 20-11-2023 11:19 PM
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.
Generally you can reach VP at GS and JPM around the same pace - high flyers will take about 5-6 years. But don't expect much in terms of salary for junior VP, like the previous poster said, 8-10k is about there. The range of VP is very wide which is also why you hear of VPs earning 20k. The salary band for VP is extremely wide.

Unregistered 20-11-2023 11:20 PM
Quote:
Originally Posted by Unregistered (Post 260950)
How's the average working hours for back office?
Depends on your team. GS back office works obnoxious hours, clocking 12 hours daily is quite a norm at analyst/associate level.

Unregistered 20-11-2023 11:51 PM
Does bonus percentage increase if u hit VP?

Unregistered 21-11-2023 12:23 AM
Quote:
Originally Posted by Unregistered (Post 260961)
Does bonus percentage increase if u hit VP?
Performance based. Not tenure. But your base increases, so the same percentage is still a larger amount

Unregistered 21-11-2023 09:08 AM
Quote:
Originally Posted by Unregistered (Post 260953)
Generally you can reach VP at GS and JPM around the same pace - high flyers will take about 5-6 years. But don't expect much in terms of salary for junior VP, like the previous poster said, 8-10k is about there. The range of VP is very wide which is also why you hear of VPs earning 20k. The salary band for VP is extremely wide.
not familiar with GS. But for JPM at least, their ranks include associate, senior associates and then VPs. Their Senior Associates is equivalent to an AVP / AD in other banks and base should be from 7-12k? Surprised that VP in JPM can go down to 8-10k?

Unregistered 21-11-2023 10:02 AM
Quote:
Originally Posted by Unregistered (Post 260981)
not familiar with GS. But for JPM at least, their ranks include associate, senior associates and then VPs. Their Senior Associates is equivalent to an AVP / AD in other banks and base should be from 7-12k? Surprised that VP in JPM can go down to 8-10k?
As highlighted by someone previously, salary bands are not hard cut offs. There are overlaps across ranks at lower levels

Unregistered 21-11-2023 09:27 PM
Quote:
Originally Posted by Unregistered (Post 172413)
Sure. The concept of AWS does not exist for a lot of American companies, including the banks as mentioned in this conversation. Can't say for everyone, but from an MO/BO perspective, I *feel* (based on experience and asking my colleagues) bonuses are more of a absolute number rather than as a % of your salary (at least at the junior level). For analysts and associates, it tends to hover around 10-15k for average performers; lower for poor performers (all the way till 0), higher for poor performers (20-25k).

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
Can anyone confirm that average analyst can get 10k bonus? Seems in contrast to the 0.5months that I see being discussed in the thread

Unregistered 21-11-2023 09:38 PM
Quote:
Originally Posted by Unregistered (Post 261036)
Can anyone confirm that average analyst can get 10k bonus? Seems in contrast to the 0.5months that I see being discussed in the thread
1 month to 1.5 months for average performer in an average economy, I would say

Unregistered 22-11-2023 12:53 AM
Quote:
Originally Posted by Unregistered (Post 261036)
Can anyone confirm that average analyst can get 10k bonus? Seems in contrast to the 0.5months that I see being discussed in the thread
if your in back office, 0.5 month is a normal range

Unregistered 22-11-2023 11:42 AM
how's the hours, pay, progression, and bonus for fp&a in a bank?

Unregistered 27-11-2023 07:19 PM
Anyone knows whats HR fresh grad pay in GS?

Unregistered 27-11-2023 08:32 PM
Quote:
Originally Posted by Unregistered (Post 261652)
Anyone knows whats HR fresh grad pay in GS?
No, but probably close to ops pay (currently in ops). It's not common for HCM (that's what they call hr) to take fresh grads. I myself don't know anyone.

Unregistered 27-11-2023 09:38 PM
Quote:
Originally Posted by Unregistered (Post 261666)
No, but probably close to ops pay (currently in ops). It's not common for HCM (that's what they call hr) to take fresh grads. I myself don't know anyone.
Whats the starting pay for fresh grad ops? Is it 6k?

Unregistered 27-11-2023 11:01 PM
Quote:
Originally Posted by Unregistered (Post 261652)
Anyone knows whats HR fresh grad pay in GS?
hcm analyst starting pay is 6.5k in gs. one of the best places to do hr in banking

Unregistered 28-11-2023 04:55 PM
Quote:
Originally Posted by Unregistered (Post 261669)
Whats the starting pay for fresh grad ops? Is it 6k?
5k. HCM seems to all be lateral though so don’t think there is any fresh grads

Unregistered 28-11-2023 11:21 PM
Quote:
Originally Posted by Unregistered (Post 261736)
5k. HCM seems to all be lateral though so don’t think there is any fresh grads
5k? u living in what era? they upped long ago loh

Unregistered 29-11-2023 11:08 AM
does anyone know the starting salary for jpm cadp? heard some say that intern salary is at close to 90% of FT pay but some say that fresh grad pay = 100% intern pay...not sure which is true?

Unregistered 29-11-2023 10:24 PM
Quote:
Originally Posted by Unregistered (Post 261766)
5k? u living in what era? they upped long ago loh
You delusional? All the local fresh grads that join this year got 5k and only non PR/singaporeans get more cos of employer CPF.

Unregistered 30-11-2023 07:12 AM
Quote:
Originally Posted by Unregistered (Post 261850)
You delusional? All the local fresh grads that join this year got 5k and only non PR/singaporeans get more cos of employer CPF.
delulu is the solulu

Unregistered 30-11-2023 11:15 PM
Quote:
Originally Posted by Unregistered (Post 261791)
does anyone know the starting salary for jpm cadp? heard some say that intern salary is at close to 90% of FT pay but some say that fresh grad pay = 100% intern pay...not sure which is true?
grads and interns are paid the same at 6k/month

Unregistered 01-12-2023 04:21 PM
Quote:
Originally Posted by Unregistered (Post 261987)
grads and interns are paid the same at 6k/month
are grads entitled bonus? what is the salary after graduating from prog?

Unregistered 21-12-2023 04:11 PM
Quote:
Originally Posted by Unregistered (Post 261736)
5k. HCM seems to all be lateral though so don’t think there is any fresh grads
Based on MCF, seems to be 5.8k in 2023?

s://.mycareersfuture.gov.sg/job/banking-finance/2023-full-time-campus-analyst-%E2%80%93-human-capital-management-division-goldman-sachs-services-7bc36facb1c71f6c5142dceb5e07861c

Unregistered 22-12-2023 11:58 PM
Quote:
Originally Posted by Unregistered (Post 263593)
Based on MCF, seems to be 5.8k in 2023?

s://.mycareersfuture.gov.sg/job/banking-finance/2023-full-time-campus-analyst-%E2%80%93-human-capital-management-division-goldman-sachs-services-7bc36facb1c71f6c5142dceb5e07861c
GS post fake salary on MCF one lah..

Unregistered 23-12-2023 11:22 PM
Quote:
Originally Posted by Unregistered (Post 263711)
GS post fake salary on MCF one lah..
Yup, next year hires are getting 5k only. Friend just shared her offer letter

Unregistered 24-12-2023 10:09 PM
Quote:
Originally Posted by Unregistered (Post 263755)
Yup, next year hires are getting 5k only. Friend just shared her offer letter
5k is 2019 number lol

Unregistered 26-12-2023 05:02 PM
cadp 2024 intern & Ft is 5.2k

Unregistered 26-12-2023 05:44 PM
scam
 
banker scam ppl


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