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

Originally Posted by Unregistered

really meh?

I tot sinkies don't care one, high pay good enuff alr u care whether u do real work or not for fuk? Ceca also don't do anything one at IBM or DBS.

Big or small company, u get paid can alr sia Simi lj dull job LOL don't step one hard worker la

With mindset like you, i wonder how far you can go lol

2016: grad from local uni, joined BO at a local bank 3.5k (contract job, no bonus)
2017: 3.8k (did not stay long enough for bonus after conversion to perm)
2018: 4k changed jobs halfway to join big 4 in CF (no bonus as just joined)
2019: 4.4k (4 months bonus, was top performer)
2020: got very lucky, managed to move to a local bank cf just before covid struck hard, 6k (6 months bonus)
2021: 9k joined a foreign bank ib (thanks to the insane boom in capital markets)

Originally Posted by gakbbooi

2016: grad from local uni, joined BO at a local bank 3.5k (contract job, no bonus)
2017: 3.8k (did not stay long enough for bonus after conversion to perm)
2018: 4k changed jobs halfway to join big 4 in CF (no bonus as just joined)
2019: 4.4k (4 months bonus, was top performer)
2020: got very lucky, managed to move to a local bank cf just before covid struck hard, 6k (6 months bonus)
2021: 9k joined a foreign bank ib (thanks to the insane boom in capital markets)

May i know what is BO and CF?

Originally Posted by Unregistered

May i know what is BO and CF?

BO = back office in bank
CF = corporate finance

I think some posts back someone asked about whether or not it is possible to jump from BO to FO short answer is yes, but you have to be willing to forgo all your exp and start from scratch (worth it since FO pay is usually very high)

for me I networked very aggressively, joined a lot of recreation clubs in the bank, volunteered, blah blah. Also went to take cfa. Was lucky enough to get a referral to try out corporate finance. From there it is pure hard work and grind. And once again aggressive networking if you're looking to move in FO in the bank as most of these roles rely on recommendations from people.

Originally Posted by Unregistered

BO = back office in bank
CF = corporate finance

I think some posts back someone asked about whether or not it is possible to jump from BO to FO short answer is yes, but you have to be willing to forgo all your exp and start from scratch (worth it since FO pay is usually very high)

for me I networked very aggressively, joined a lot of recreation clubs in the bank, volunteered, blah blah. Also went to take cfa. Was lucky enough to get a referral to try out corporate finance. From there it is pure hard work and grind. And once again aggressive networking if you're looking to move in FO in the bank as most of these roles rely on recommendations from people.

also to add back in 2017 when I changed job I was offered a BO role in a foreign bank with about 4.8k but I chose the lower pay at big 4 because I knew I didn't want to stay stuck in BO role. It was a "pay cut" to take and my working hours doubled (4/5am nights and many weekends were common) but I can say that hard work does pay off eventually if u have a clear goal of what you wanna do eventually

Originally Posted by Unregistered

also to add back in 2017 when I changed job I was offered a BO role in a foreign bank with about 4.8k but I chose the lower pay at big 4 because I knew I didn't want to stay stuck in BO role. It was a "pay cut" to take and my working hours doubled (4/5am nights and many weekends were common) but I can say that hard work does pay off eventually if u have a clear goal of what you wanna do eventually

im glad that your hard work pays off. Nice pay progression as well.

Originally Posted by gakbbooi

2016: grad from local uni, joined BO at a local bank 3.5k (contract job, no bonus)
2017: 3.8k (did not stay long enough for bonus after conversion to perm)
2018: 4k changed jobs halfway to join big 4 in CF (no bonus as just joined)
2019: 4.4k (4 months bonus, was top performer)
2020: got very lucky, managed to move to a local bank cf just before covid struck hard, 6k (6 months bonus)
2021: 9k joined a foreign bank ib (thanks to the insane boom in capital markets)

Congrats man! You had a decent start but after 5 years you are really making it!

Originally Posted by gakbbooi

2016: grad from local uni, joined BO at a local bank 3.5k (contract job, no bonus)
2017: 3.8k (did not stay long enough for bonus after conversion to perm)
2018: 4k changed jobs halfway to join big 4 in CF (no bonus as just joined)
2019: 4.4k (4 months bonus, was top performer)
2020: got very lucky, managed to move to a local bank cf just before covid struck hard, 6k (6 months bonus)
2021: 9k joined a foreign bank ib (thanks to the insane boom in capital markets)

Thanks for sharing. How possible do you think it is to move from big4 FDD to local bank IB?

Originally Posted by gakbbooi

2016: grad from local uni, joined BO at a local bank 3.5k (contract job, no bonus)
2017: 3.8k (did not stay long enough for bonus after conversion to perm)
2018: 4k changed jobs halfway to join big 4 in CF (no bonus as just joined)
2019: 4.4k (4 months bonus, was top performer)
2020: got very lucky, managed to move to a local bank cf just before covid struck hard, 6k (6 months bonus)
2021: 9k joined a foreign bank ib (thanks to the insane boom in capital markets)

hey what made you switch from corporate finance (assuming traditional IBD- M&A/coverage) to capital markets (ECM/DCM)? are you not worried about your future exit opps in capital markets? currently contemplating a similar move but i really like the challenge of traditional ibd.

Grad: 3.6k MNC bank ops
0.5YOE: 4.4k internal move, ops tech
1YOE: 6.5k entry level SnT

Not 2 YOE but my progress has been similar to some with 2-5 YOE so thought I would post.