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For those with 2-5 YOE, what is your salary?

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  #11 (permalink)  
Old 07-06-2021, 12:14 AM
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Yes graduate program. For good performers. This cannot be classified as insane la. The following is my cohort FO peer progression. Iím sad that I canít even cross his starting pay.

2017 - 9000
2018 - 9000
2019 - 12000
2020 - 16666
2021 - 20000
Are they much better than you (skills/knowledge wise) and do they grind much harder (in terms of hours worked etc)?

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Old 07-06-2021, 09:48 AM
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Are they much better than you (skills/knowledge wise) and do they grind much harder (in terms of hours worked etc)?
Much better as they belonged to the top 5%. Usually top MBA / Ivy league oxbridge credentials. Local Uni must be top of the top to even have a sniff.

In terms of hours worked they commit 50% more but at their earning trajectory most can retire early at 40 or start their own businesses.

Someone mentioned here did mention don't compare yourself with these elites as you will be miserable but the idea is to give you an awareness of the salary growth of normal banking folks vs elite banking folks. Ignorance is not bliss and knowledge is power. Living in denial and being deluded is the worst, aka an ostrich burying its head in the sand and pretending it is doing ok in the midst of danger.

If you are in IT, then you should find out more from those working in FAANG for an idea of what to expect if you have the luck to enter those when you job hop.

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  #13 (permalink)  
Old 07-06-2021, 10:10 AM
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1st: 4100
2nd: 4500
3rd: 7000
4th: 8000

Same company throughout. Promotion at 3rd year.

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Old 07-06-2021, 11:28 AM
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Much better as they belonged to the top 5%. Usually top MBA / Ivy league oxbridge credentials. Local Uni must be top of the top to even have a sniff.

In terms of hours worked they commit 50% more but at their earning trajectory most can retire early at 40 or start their own businesses.

Someone mentioned here did mention don't compare yourself with these elites as you will be miserable but the idea is to give you an awareness of the salary growth of normal banking folks vs elite banking folks. Ignorance is not bliss and knowledge is power. Living in denial and being deluded is the worst, aka an ostrich burying its head in the sand and pretending it is doing ok in the midst of danger.

If you are in IT, then you should find out more from those working in FAANG for an idea of what to expect if you have the luck to enter those when you job hop.
Possible for back office to break into front office?
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Old 07-06-2021, 12:15 PM
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Possible for back office to break into front office?
Which specialization you want to join in Front office? Do u have any relevant skills?
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Old 07-06-2021, 01:15 PM
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Which specialization you want to join in Front office? Do u have any relevant skills?
Not in finance but am just curious about the possibility of a transition. Say you have been supporting traders and have experience supporting wealth managers/asset managers as well, possible to transition to S&T or AM/WM?
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Old 07-06-2021, 01:22 PM
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Not in finance but am just curious about the possibility of a transition. Say you have been supporting traders and have experience supporting wealth managers/asset managers as well, possible to transition to S&T or AM/WM?
Support them in what ways? Look, it all depends on whether you have the relevant skills that they have isnt it. You can go on and on about moving from BO to FO but it all depends on whether you have the necessary skills right?

For example are you cognizant of financial modelling? know how to calculate basic stuff like bond yields, capm, read balance sheets? Do you know how to perform your own analysis given a financial report in order to determine what actions to take: sell buy hold? Do you know the various assets class and their respective target audience?
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Old 07-06-2021, 01:24 PM
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1st: 4100
2nd: 4500
3rd: 7000
4th: 8000

Same company throughout. Promotion at 3rd year.
What industry and role? That's a lot for an internal promotion.
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Old 07-06-2021, 01:29 PM
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What industry and role? That's a lot for an internal promotion.
Tech professional services.
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Old 07-06-2021, 01:30 PM
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Support them in what ways? Look, it all depends on whether you have the relevant skills that they have isnt it. You can go on and on about moving from BO to FO but it all depends on whether you have the necessary skills right?

For example are you cognizant of financial modelling? know how to calculate basic stuff like bond yields, capm, read balance sheets? Do you know how to perform your own analysis given a financial report in order to determine what actions to take: sell buy hold? Do you know the various assets class and their respective target audience?
I get where you are coming from, but isnít it also dependent on the team? For instance, IBD would be more focused on financial modelling of all kinds; S&T is about asset pricing and AM /WM is more on portfolio management. Some roles are also not as technical (e.g. sales people in WM/AM/S&T). Not 100% sure on this though haha.

Have you personally seen people make the switch to the front office? If so, what roles did they end up in and what skills did they have to possess?
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