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

Originally Posted by Unregistered

latest batch of grads for jpm ops is 65k annual.

gs is still at 60k but insider info that they are revising to match 65k to stay competitive. not sure when...

this is not true, if u r talking abt jpm ops graduate program its 62500-63500

Originally Posted by Unregistered

Any idea on typical increment and bonus at gs? I getting quite conflicting sources from two people working there. One told me 2-3% and 0.5months bonus. Another one told me 5-9% with 1+ month bonus. dk which one is true.

Both can be correct. The bellcurving at year end is steep. Good performers get paid a lot more than average or poor performers. Working at GS.

Anyone work in wells fargo as back end officer? Is the salary there good?

Originally Posted by Unregistered

Both can be correct. The bellcurving at year end is steep. Good performers get paid a lot more than average or poor performers. Working at GS.

Do you know what is the average salary increment? Im a fresh grad who just joined this year

Originally Posted by Unregistered

Can confirm it’s not. Only 5k for local fresh grads. Working there and salary was discussed with the rest of the batch mates, everyone got 5k only and for foreigners, they got more as they get employer cpf in cash

Stop spreading fake info?? GS is 70k annual base (friend there, figures for 2022 batch). Heard they gonna raise to 6k soon. GS is ALWAYS paymaster when it comes to banking ops, iykyk.

Originally Posted by Unregistered

Do you know what is the average salary increment? Im a fresh grad who just joined this year

Then you should know you are not in scope for reviews this year. So it won't be much.
They will just give a nominal increment and a lump sum which should be the same across your batch.

Originally Posted by Unregistered

Then you should know you are not in scope for reviews this year. So it won't be much.
They will just give a nominal increment and a lump sum which should be the same across your batch.

I joined before cut off so I still had my reviews. Although my manager did say I would get the same as my batch. Do you know if I will get more since I joined earlier (mar compared to the rest who joined in July), two colleagues gave me opposite answers so idk which is true. I hope the nominal increment is better than last year although feels like fat hope. But percentage wise last year batch did get quite a good increase imo if annualised.

Originally Posted by Unregistered

I joined before cut off so I still had my reviews. Although my manager did say I would get the same as my batch. Do you know if I will get more since I joined earlier (mar compared to the rest who joined in July), two colleagues gave me opposite answers so idk which is true. I hope the nominal increment is better than last year although feels like fat hope. But percentage wise last year batch did get quite a good increase imo if annualised.

Short answer no. In GS ops, everything is by batches. First year for your batch = standard increment & bonus. Completely no advantage for joining earlier than the rest of your batch - you promote the same time, receive the same increment, etc. Only bonus is pro-rated to reflect your time in the role.

Average increment is <5% and bonus is typically 1 month. The reason you hear very contrasting numbers is because of the different years / batches. Some batches had their salary revised so that they do not earn lesser than the fresh graduates. Imagine if you are 2 YOE in the bank but drawing lower than a fresh graduate...

Originally Posted by Unregistered

Short answer no. In GS ops, everything is by batches. First year for your batch = standard increment & bonus. Completely no advantage for joining earlier than the rest of your batch - you promote the same time, receive the same increment, etc. Only bonus is pro-rated to reflect your time in the role.

Average increment is <5% and bonus is typically 1 month. The reason you hear very contrasting numbers is because of the different years / batches. Some batches had their salary revised so that they do not earn lesser than the fresh graduates. Imagine if you are 2 YOE in the bank but drawing lower than a fresh graduate...

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.

Where is JPM office located? it it east side?