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Career progression for risk management related position

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Old 19-07-2011, 09:57 PM
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Default Career progression for risk management related position

Hi guys
Just want to know how is it like for someone to scale the ranks and get a risk management analyst job or is this position entry level? (Pardon me, I'm a greenhorn)

Let's say I'm pursuing a part time finance econs degree with a non related diploma and I want an entry level job in the bank to gain experience during my course of study, thereafter applying for the job I want after I finish my degree. What kind of jobs would be best suitable to gain experience? (Doesn't necessary have to be a bank job)

Many thanks in advance.

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Old 22-07-2011, 08:28 PM
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Risk management is a viable and sustainable career, the hours are reasonable, stress level not as high as in trading, but requires constant learning due to ever-changing markets.

Risk manager is usually well-respected in a bank. A VP risk manager or above in a top-tier bank makes at least 200k/year and above.
Market risk commands the highest salary, closely followed by credit risk, and then operational risk. Bonus is not as high as a FO would get, but you can expect 3-9months. Can be higher if one is at SVP, MD level.

Good luck! Bloomberg recently wrote an article of risk officers getting paid as much as 10 bucks....


Chief Risk Officer Rises to $10 Million Job Following Derivatives Meltdown - Bloomberg

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Old 22-07-2011, 08:31 PM
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It may not be easy to get directly into risk management positions given that you are doing a part-time degree and do not have relevant experience. I suggest you set yourself an easier goal of getting into bank operations - i.e. work in junior positions in the back office.

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Old 23-07-2011, 01:26 PM
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Thanks for all the inputs, greatly appreciated. Will it be viable for me to apply a position as a banking assistant and move up from there?
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Old 23-07-2011, 03:29 PM
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can try, but will be a very long climb.
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Old 23-07-2011, 04:30 PM
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Quote:
Originally Posted by Unregistered View Post
Thanks for all the inputs, greatly appreciated. Will it be viable for me to apply a position as a banking assistant and move up from there?
Yes can try. Hop early and hop often (once a year is not too frequent by today's standards). When you reach mid thirtes, settle in a comfortable position in a comfortable bank and collect your 100k+ income yearly and save up a couple millions for retirement.

Sounds easy right?
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Old 23-07-2011, 09:10 PM
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Quote:
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Yes can try. Hop early and hop often (once a year is not too frequent by today's standards). When you reach mid thirtes, settle in a comfortable position in a comfortable bank and collect your 100k+ income yearly and save up a couple millions for retirement.

Sounds easy right?
Dont hop toomuch, this industry is small, build your reputation
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Old 23-07-2011, 11:09 PM
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Quote:
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Yes can try. Hop early and hop often (once a year is not too frequent by today's standards). When you reach mid thirtes, settle in a comfortable position in a comfortable bank and collect your 100k+ income yearly and save up a couple millions for retirement.

Sounds easy right?
I am a market risk manager for an Investment bank. Life as a market risk manager isnt easy but pays well. U got to have the passion for market developement and when **** happen you are well covered.
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Old 24-07-2011, 06:44 AM
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Thanks again for the inputs, I'm willing to work hard to achieve my later life stability. One last question, anyone can give me a sample progression structure that I might go through?
E.g. Assistant>Executive>Snr executive>manager>VP etc
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Old 24-07-2011, 11:07 AM
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Thanks again for the inputs, I'm willing to work hard to achieve my later life stability. One last question, anyone can give me a sample progression structure that I might go through?
E.g. Assistant>Executive>Snr executive>manager>VP etc
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.
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