Private Banking Salaries - Page 2 - 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




Private Banking Salaries

 Citibank Cash Back Card - up to $350 cash back* - Click to Apply Now 
Reply
 
Thread Tools
  #11 (permalink)  
Old 27-07-2011, 12:26 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by undiscern View Post
civil service and gov jobs are quite secure. banking job is usually the first to be cut, and when they cut it is in thousands.
That's a misconception. How many of your friends in banking were fired in the last crisis? For me, I only know of 1, out of more than 100 acquaintances, friends and family.

It's a misconception propagated by those not in the know and by those in the know who deliberately want to portray a "high risk high reward" image to make them look macho.

Reply With Quote
  #12 (permalink)  
Old 28-07-2011, 11:10 AM
Unregistered
Guest
 
Posts: n/a
Default

any suggestion of good banks that will take in a fresh engineering graduate with 3rd class honors...

Reply With Quote
  #13 (permalink)  
Old 28-07-2011, 01:10 PM
Unregistered
Guest
 
Posts: n/a
Default

A typical rm usually has aum ( assets under management) of around 100 million. They are expected to churn them and earn 1%.

Around 40% of revenues are used for salaries+bonus for rm, investment advisors, credit risk, back office, senior management.

So you would expect rm at vp level with 100m would get max 300k per year for base+bonus

Reply With Quote
  #14 (permalink)  
Old 28-07-2011, 03:50 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
any suggestion of good banks that will take in a fresh engineering graduate with 3rd class honors...
ppl already look down on 2nd lower and u got 3rd class... assuming u not super good looking and dun haf connections, i will say u most prob can only work in back office of banks...
Reply With Quote
  #15 (permalink)  
Old 28-07-2011, 11:37 PM
Unregistered
Guest
 
Posts: n/a
Talking ..

Dude, people usually don t just start off in private banking.

My advice, start off as a personal banker. Work your ass off. You got sales, within 1-2 years you will be able to move to priority banking. Work your ass off again (usually by second or third year you may be able to slack off if you re good enough). By than if you got sales, the headhunters and the private banks will come knocking.

The basic will usually be quite near to your last drawn, depends on what you bargain for also. Anyway its usually above 10k a month not including bonus. But you better make sure you got the AUM to bring over coz if not within a year you re probably out again.

The other way is start off as a private banking assistant, and hope that one fine day when your private banker is old enough and going to retire he might pass you his portfolio to manage.
Reply With Quote
  #16 (permalink)  
Old 29-07-2011, 12:11 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
A typical rm usually has aum ( assets under management) of around 100 million. They are expected to churn them and earn 1%.

Around 40% of revenues are used for salaries+bonus for rm, investment advisors, credit risk, back office, senior management.

So you would expect rm at vp level with 100m would get max 300k per year for base+bonus
Max 300K on a US 100M pot is a myth.
If you are smart, you leverage up your pot of gold.
A USd 100M can easily be USd 150M
Revenue could easily be USD 2M (Assuming you are active in your trades)

A USd 2 M Rev = a pay of USd 300K to USD 400 K or SGd 360 to SGD 480K depending on how generous your boss are.

Aim for blue sky.

BUT first, slog for a good 5 years or more from the basic bank to acquire your assets and experience
Reply With Quote

  #17 (permalink)  
Old 29-07-2011, 12:16 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Max 300K on a US 100M pot is a myth.
If you are smart, you leverage up your pot of gold.
A USd 100M can easily be USd 150M
Revenue could easily be USD 2M (Assuming you are active in your trades)

A USd 2 M Rev = a pay of USd 300K to USD 400 K or SGd 360 to SGD 480K depending on how generous your boss are.

Aim for blue sky.

BUT first, slog for a good 5 years or more from the basic bank to acquire your assets and experience
So that's how private bankers do the churning and make money.


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #18 (permalink)  
Old 29-07-2011, 02:13 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
So that's how private bankers do the churning and make money.
Churning is a dirty word. Leverage is not necessary dirty business but smart business for clients.

You just need to know how to use it wisely.
A successful Private Banker is not one that churns and churns , that is consumer banking style. If you churn, rest assure, you will not last long.
In Private Banking business , it is not a race but a marathon. so you dont churn for the sake of making money. you do by volume , not necessary bigger margin.

Not a easy business to go into...
Reply With Quote
  #19 (permalink)  
Old 30-07-2011, 03:33 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Max 300K on a US 100M pot is a myth.
If you are smart, you leverage up your pot of gold.
A USd 100M can easily be USd 150M
Revenue could easily be USD 2M (Assuming you are active in your trades)

A USd 2 M Rev = a pay of USd 300K to USD 400 K or SGd 360 to SGD 480K depending on how generous your boss are.

Aim for blue sky.

BUT first, slog for a good 5 years or more from the basic bank to acquire your assets and experience
you serious? Advising clients to have 50% gain is quite impossible esp now where the banks are not extending much leverage to the client. Plus these days, clients are in risk avoidance mode, no more accumlator structures, no more structured finance stuff. how to make money without taking risk or leverage? good old days are gone, that is why CS and UBS are cutting staff as their revenues are not increasing as fast as salary compensations as their churn rate is getting lower....

anyway, if you can make 50% for client, you are actually better off running your own hedge fund.
Reply With Quote
  #20 (permalink)  
Old 30-07-2011, 07:44 AM
Senior Member
 
Join Date: Jul 2011
Posts: 77
Liverpool is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
you serious? Advising clients to have 50% gain is quite impossible esp now where the banks are not extending much leverage to the client. Plus these days, clients are in risk avoidance mode, no more accumlator structures, no more structured finance stuff. how to make money without taking risk or leverage? good old days are gone, that is why CS and UBS are cutting staff as their revenues are not increasing as fast as salary compensations as their churn rate is getting lower....

anyway, if you can make 50% for client, you are actually better off running your own hedge fund.
couldn't agree more...
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
Private Banking Client Services Manager Just another banker Income and Jobs 8 17-05-2019 10:23 PM
Salaries of Professors Salary.sg Income and Jobs 13 07-05-2019 01:54 PM
Mid-Market Corporate Finance Salaries keynesian slave Income and Jobs 0 23-06-2010 03:47 PM
Managers and Professionals - are your Salaries above the Median? Salary.sg Income and Jobs 27 11-12-2008 10:45 AM
Managers Command High Salaries Salary.sg Income and Jobs 12 07-05-2008 03:56 PM

» 30 Recent Threads
Starting Pay for CS/Ministries... ( 1 2 3... Last Page)
153 Replies, 35,569 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
1,628 Replies, 1,344,176 Views
How rich/poor am I compared to... ( 1 2 3... Last Page)
44 Replies, 34,526 Views
Lawyer Salary ( 1 2 3... Last Page)
9,607 Replies, 3,078,192 Views
ST Electronics ( 1 2 3... Last Page)
872 Replies, 259,529 Views
Employment agency taking me to...
2 Replies, 70 Views
Engineer Pay ( 1 2 3... Last Page)
117 Replies, 46,075 Views
[advice] Recruitment agency... ( 1 2 3)
21 Replies, 3,110 Views
Career as Teacher ( 1 2 3... Last Page)
2,878 Replies, 1,755,943 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,720 Replies, 1,133,196 Views
DBS tech seed programme ( 1 2 3... Last Page)
30 Replies, 4,164 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
336 Replies, 114,475 Views
MasterCard Graduate Developement... ( 1 2)
10 Replies, 4,859 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,407 Replies, 2,011,155 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,004 Replies, 1,145,469 Views
HSBC Graduate Programme 2021
5 Replies, 279 Views
Compare civil service salary ( 1 2 3... Last Page)
10,714 Replies, 5,921,417 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
3,157 Replies, 1,334,031 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,462 Replies, 980,535 Views
Enterprise Singapore hiriing... ( 1 2 3... Last Page)
117 Replies, 43,415 Views
Job offer from Apple ( 1 2 3... Last Page)
475 Replies, 102,244 Views
Equity Research jobs
3 Replies, 335 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
1,022 Replies, 815,181 Views
Working in HDB ( 1 2 3... Last Page)
351 Replies, 280,676 Views
E-Reading apps for kids
2 Replies, 1,692 Views
PCB design course
3 Replies, 207 Views
anyone working at NCS ? ( 1 2 3... Last Page)
458 Replies, 317,421 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 01:33 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2