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  #61 (permalink)  
Old 03-03-2013, 12:22 PM
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Quote:
Originally Posted by Unregistered View Post
haha everyone here is full of ****.

Private bankers don't earn on comm or products. their spread is so little that it is ridiculous. For example, priority/premier banking platforms charge 3-5% on funds,1-2percent on bonds. Private banks only charge 0.25%. why? because they make money based on AUM and Volume la!

Private bankers only do one thing; BRING IN AUM.

and obviously if you are 20 something or even in your 30s, you are not going to be a private banker. WHICH multimillionaire will want to take advice from a young punk? go think la!


maybe after you slog like a dog as an Associate RM for 8 years or you work on a Private Client, HNW platform then maybe you can even dream of being a private banker.


and BTW, its bullshit that private bankers earn the most among bankers. ive seen Citigold Private client and Citigold RMs earn more then private bankers, simply because they get commission.
Enlightening info. Btw, I'm curious to know what are the position and job scope of those cxtxbank staff at front desk wearing uniform? Do they get paid alot?

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  #62 (permalink)  
Old 03-03-2013, 12:33 PM
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Enlightening info. Btw, I'm curious to know what are the position and job scope of those cxtxbank staff at front desk wearing uniform? Do they get paid alot?

those are customer service officers, different. RMs and personal bankers dont wear uniform.

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  #63 (permalink)  
Old 03-03-2013, 12:57 PM
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those are customer service officers, different. RMs and personal bankers dont wear uniform.
Any idea the salary range?

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  #64 (permalink)  
Old 04-03-2013, 08:24 AM
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Around 4-5k, usually front line service staff not paid very well in banks.
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  #65 (permalink)  
Old 08-03-2013, 07:43 AM
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Around 4-5k, usually front line service staff not paid very well in banks.
less. about 2.5
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  #66 (permalink)  
Old 08-03-2013, 10:42 AM
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To clear up doubts, if you want to earn big in banks, do sales.

The normal operation staffs don't earn much. Frontdesk tellers pay starts at about 2k for diploma, the most senior i've seen is about 4k but she's near her fifties.

As a equity researcher responsible for generating reports for clients, i draw a fixed salary that is 'on-par' with my peers in civil service. Why i say 'on-par' is because you have to factor in the extra time put in. Most of the fixed salary in banks are paid 'competitively' to singapore market rates (pegged to the salaries of civil servant, the benchmark of salary)

Many of the people are just plain trolls. Bankers are like property agents, few make it big, many fail miserably. For private bankers you get money as you close. The record holders draws few millions per annum. But there isn't alot.

Private bankers are not rich. There is a saying internally that it's a irony that we take care of client's money but do not know how to take care of our own. Many people have died in banking industry due to their unrealistic lifestyles.

Was curious about this topic, entered this thread, only to find plenty of trolls lying around.

Source: I work in a bank.
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  #67 (permalink)  
Old 09-03-2013, 05:46 PM
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Quote:
Originally Posted by Unregistered View Post
To clear up doubts, if you want to earn big in banks, do sales.

The normal operation staffs don't earn much. Frontdesk tellers pay starts at about 2k for diploma, the most senior i've seen is about 4k but she's near her fifties.

As a equity researcher responsible for generating reports for clients, i draw a fixed salary that is 'on-par' with my peers in civil service. Why i say 'on-par' is because you have to factor in the extra time put in. Most of the fixed salary in banks are paid 'competitively' to singapore market rates (pegged to the salaries of civil servant, the benchmark of salary)

Many of the people are just plain trolls. Bankers are like property agents, few make it big, many fail miserably. For private bankers you get money as you close. The record holders draws few millions per annum. But there isn't alot.

Private bankers are not rich. There is a saying internally that it's a irony that we take care of client's money but do not know how to take care of our own. Many people have died in banking industry due to their unrealistic lifestyles.

Was curious about this topic, entered this thread, only to find plenty of trolls lying around.

Source: I work in a bank.
Are you working in the cxtxbank ? I hear they are the lowest paid
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  #68 (permalink)  
Old 09-03-2013, 08:19 PM
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Quote:
Originally Posted by Unregistered View Post
To clear up doubts, if you want to earn big in banks, do sales.

The normal operation staffs don't earn much. Frontdesk tellers pay starts at about 2k for diploma, the most senior i've seen is about 4k but she's near her fifties.

As a equity researcher responsible for generating reports for clients, i draw a fixed salary that is 'on-par' with my peers in civil service. Why i say 'on-par' is because you have to factor in the extra time put in. Most of the fixed salary in banks are paid 'competitively' to singapore market rates (pegged to the salaries of civil servant, the benchmark of salary)

Many of the people are just plain trolls. Bankers are like property agents, few make it big, many fail miserably. For private bankers you get money as you close. The record holders draws few millions per annum. But there isn't alot.

Private bankers are not rich. There is a saying internally that it's a irony that we take care of client's money but do not know how to take care of our own. Many people have died in banking industry due to their unrealistic lifestyles.

Was curious about this topic, entered this thread, only to find plenty of trolls lying around.

Source: I work in a bank.
Well I worked in a bank before, and in tech and ops. I made 150k doing random analyst kind of work (called "business architect"), while my indian boss made 200k+. The tech PMs all made close to 200k.
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  #69 (permalink)  
Old 10-03-2013, 10:51 AM
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Quote:
Originally Posted by Unregistered View Post
To clear up doubts, if you want to earn big in banks, do sales.

The normal operation staffs don't earn much. Frontdesk tellers pay starts at about 2k for diploma, the most senior i've seen is about 4k but she's near her fifties.

As a equity researcher responsible for generating reports for clients, i draw a fixed salary that is 'on-par' with my peers in civil service. Why i say 'on-par' is because you have to factor in the extra time put in. Most of the fixed salary in banks are paid 'competitively' to singapore market rates (pegged to the salaries of civil servant, the benchmark of salary)

Many of the people are just plain trolls. Bankers are like property agents, few make it big, many fail miserably. For private bankers you get money as you close. The record holders draws few millions per annum. But there isn't alot.

Private bankers are not rich. There is a saying internally that it's a irony that we take care of client's money but do not know how to take care of our own. Many people have died in banking industry due to their unrealistic lifestyles.

Was curious about this topic, entered this thread, only to find plenty of trolls lying around.

Source: I work in a bank.
Hi, don't mind sharing how much are you making right now when you say you're just "on par" with civil sector?
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  #70 (permalink)  
Old 14-03-2013, 12:12 AM
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Quote:
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haha everyone here is full of ****.

Private bankers don't earn on comm or products. their spread is so little that it is ridiculous. For example, priority/premier banking platforms charge 3-5% on funds,1-2percent on bonds. Private banks only charge 0.25%. why? because they make money based on AUM and Volume la!

Private bankers only do one thing; BRING IN AUM.

and obviously if you are 20 something or even in your 30s, you are not going to be a private banker. WHICH multimillionaire will want to take advice from a young punk? go think la!


maybe after you slog like a dog as an Associate RM for 8 years or you work on a Private Client, HNW platform then maybe you can even dream of being a private banker.


and BTW, its bullshit that private bankers earn the most among bankers. ive seen Citigold Private client and Citigold RMs earn more then private bankers, simply because they get commission.
Comms no, I agree but most private banks do calculate product sales as part of the target RoA though. AuM by itself doesn't generate money, particularly if most fees(safekeeping etc) is ususally waived.
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