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Career progression for risk management related position

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  #11 (permalink)  
Old 24-07-2011, 03:06 PM
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I think your range is for the local bank package. For foreign banks who run large trading risks e.g. Goldman, Deutsche, you can safely add 20-30% more

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Old 24-07-2011, 03:27 PM
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I think your range is for the local bank package. For foreign banks who run large trading risks e.g. Goldman, Deutsche, you can safely add 20-30% more
My numbers are very much for foreign banks. You can go and check with head hunters if you dont believe. IB now are not like pre IFC days. Cost cutting pressure are all over the place and banks are resorting to do offshoring to cheaper location like bangalore and manila. For local banks, there are nothing to risk manage, products are linear and it is more towards regulatory reporting rather than asking traders to cut position. I have been to both local and foreign. It is crap in local banks especially the management. Their JD is always misleading and their system cant even do a proper pricing let alone displaying delta,gamma and vega risk. The best part is that they cant even relate pnl movement with respect to risk change. What a joke!

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Old 24-07-2011, 08:41 PM
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I think your range is for the local bank package. For foreign banks who run large trading risks e.g. Goldman, Deutsche, you can safely add 20-30% more
Goldman, JP Morgan and Morgan Stanley 's market risk management team is in HK. Deutsche, Barcap, StandChart, CS and UBS in SGP. CS market risk team only hire ex-traders.

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Old 24-07-2011, 08:57 PM
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Other risk managers in oil trading firms e.g. Glencore, kouch, bp, bhp and buy-side e.g. Gic, blackrock, etc also get paid very well.
So well that a lot of traders have switched to risk management roles.
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Old 24-07-2011, 10:15 PM
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My numbers are very much for foreign banks. You can go and check with head hunters if you dont believe. IB now are not like pre IFC days. Cost cutting pressure are all over the place and banks are resorting to do offshoring to cheaper location like bangalore and manila. For local banks, there are nothing to risk manage, products are linear and it is more towards regulatory reporting rather than asking traders to cut position. I have been to both local and foreign. It is crap in local banks especially the management. Their JD is always misleading and their system cant even do a proper pricing let alone displaying delta,gamma and vega risk. The best part is that they cant even relate pnl movement with respect to risk change. What a joke!
You sounds so ya-ya with condescending remarks on local banks, dont bite the hands who fed you once. Knowing delta, gamma, vega, volga, vanna as your friends mean nothing if you cannot make money
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Old 25-07-2011, 12:59 AM
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Which would be a better option? Study part time (4 years) and apply an entry level job at as associate officers, customer service etc (btw I've a non related diploma) or study full time (3 years) thereafter try to squeeze in foreign bank executive level jobs?
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Old 25-07-2011, 01:00 AM
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Analyst (<50k) => Associate (>50k, <80k)=> Avp (>80k, <140k)=> Vp (>140k, <240k) => Director (>240k, <500k)

Above salary exclude bonus. Typical mkt risk bonus range btw 50k to 100k. They look into total compensation for the year. Actually at avp level, quite comfortable as annual is close to 200k.
thanks for the input, now it's much clearer
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Old 25-07-2011, 05:48 AM
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You sounds so ya-ya with condescending remarks on local banks, dnt bite the hands who fed you once. Knowing delta, gamma, vega, volga, vanna as your friends mean nothing if you cannot make money
You muz be from local bank and in risk mgmt, u don't have to make money. Yes, I am against local bank. So wat!
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Old 25-07-2011, 03:59 PM
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Risk Mgmt analysts in foreign banks are essentially getting back-office pay.. perhaps with the exception of barcap..
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Old 26-07-2011, 10:09 AM
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Analyst (<50k) => Associate (>50k, <80k)=> Avp (>80k, <140k)=> Vp (>140k, <240k) => Director (>240k, <500k)

Above salary exclude bonus. Typical mkt risk bonus range btw 50k to 100k. They look into total compensation for the year. Actually at avp level, quite comfortable as annual is close to 200k.
The 3rd-ranked university in Singapore is producing FRESH graduates commanding 20k a month, which is what an experienced Director is earning. All of you should be ashamed for earning peanuts.

NTU's 2011 grad earns $20,000 a month
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