SIM-UOL fresh grad starting pay

i'm actually quite surprised that people can get 3.8k to 4k+ as a starting pay as a fresh grad in a bank in any middle office or back office roles. I know there are many people drawing 4k+ even after 5 years of experience. And some people drawing less than 6k with 10 years experience. I'm talking about middle and back office roles.

Originally Posted by Unregistered

Ive gotten more than 20%. The lowest offer currently is 3k lol. And highest 4k+.

Fresh grad from UOL getting 3k starting pay is tough. Unless you go into personal Banking. Entering the big four is almost impossible Unless you have connection.

That is why more than 20% with a low base is not significant.

Big 4 is no big deal. Many other industries paying much better.

A big 4 called me for a role and could only offer slightly below my current annual base.

Originally Posted by Unregistered

i'm actually quite surprised that people can get 3.8k to 4k+ as a starting pay as a fresh grad in a bank in any middle office or back office roles. I know there are many people drawing 4k+ even after 5 years of experience. And some people drawing less than 6k with 10 years experience. I'm talking about middle and back office roles.

You have to bear in mind that different banks have different bonus structure.

I know of a bank paying 6k for a 3 yrs exp role but it offers 0 to 0.5 months bonus.

Whereas in my company offers same exp at 4k plus but bonus is between 5 to 6 months.

Originally Posted by Unregistered

You have to bear in mind that different banks have different bonus structure.

I know of a bank paying 6k for a 3 yrs exp role but it offers 0 to 0.5 months bonus.

Whereas in my company offers same exp at 4k plus but bonus is between 5 to 6 months.

Yes different banks have different bonus structure. But the norm that i'm seeing is people with 3 years experience is getting around total compensation of around 60k pa. 5 years experience gets around 70-75k pa in total compensation. Thereafter 5 years of experience, it may then vary quite abit depending on whether the individual is promoted to a leading or managerial position. Because i have people who have less experience (eg: 7-8yrs exp) but at a leading role earning much more than another person who has (10-12yrs exp) but still at a non-leading role. And this is irregardless of whether the person is local uni grad or UOL grad.

Again i'm only talking about middle and back office role.

Originally Posted by Unregistered

Yes different banks have different bonus structure. But the norm that i'm seeing is people with 3 years experience is getting around total compensation of around 60k pa. 5 years experience gets around 70-75k pa in total compensation. Thereafter 5 years of experience, it may then vary quite abit depending on whether the individual is promoted to a leading or managerial position. Because i have people who have less experience (eg: 7-8yrs exp) but at a leading role earning much more than another person who has (10-12yrs exp) but still at a non-leading role. And this is irregardless of whether the person is local uni grad or UOL grad.

Again i'm only talking about middle and back office role.

It is probably because a leading role pays higher in general and I assume you are talking abt total annual salary. Some people may not be promoted to leading role after 10 to 12 years. This is not uncommon. In fact if you are comparing within the same company, this pay difference may not be great, given that the non leading role may be near the pay ceiling.

Another thing to note is that some titles are mostly inflated in banks and does not translate to high salary.

I was from banking middle office. There are other industries paying better than banks.

5 years exp in my company will be getting 90 to 100k as a non leading role. And the ceiling can be from 120 to 150k.

Originally Posted by Unregistered

It is probably because a leading role pays higher in general and I assume you are talking abt total annual salary. Some people may not be promoted to leading role after 10 to 12 years. This is not uncommon. In fact if you are comparing within the same company, this pay difference may not be great, given that the non leading role may be near the pay ceiling.

Another thing to note is that some titles are mostly inflated in banks and does not translate to high salary.

I was from banking middle office. There are other industries paying better than banks.

5 years exp in my company will be getting 90 to 100k as a non leading role. And the ceiling can be from 120 to 150k.

My experience is that most people starts off at around $2.5k-$3k as a fresh grad in a middle/back office role will find that it is almost impossible to reach 90k-100k after 5 years of experience, even if u got promoted and jump the boat twice in 5 years. Even if u meant 90k-100k in total compensation, that is estimated to be roughly $7k base salary with 1.5mths - 2mths bonus (which generally speaking, most banks pays this kind of bonus).

Originally Posted by Unregistered

My experience is that most people starts off at around $2.5k-$3k as a fresh grad in a middle/back office role will find that it is almost impossible to reach 90k-100k after 5 years of experience, even if u got promoted and jump the boat twice in 5 years. Even if u meant 90k-100k in total compensation, that is estimated to be roughly $7k base salary with 1.5mths - 2mths bonus (which generally speaking, most banks pays this kind of bonus).

You are contradicting yourself. On one hand you said that most people cant reach 90k to 100k with 5 years of exp. And on the other hand ypu said most banks generally can pay this range.

Some but not all banks can pay this range.

The argument is that if a person is already getting 90 to 100k wirh 5 years, will the bank be able to pay 20% to 30% more if the person changes company.

SIM UOL grad in 2005 (FCH). After 13 years in the workforce I am drawing about $130k pa. How am I doing?

[Wisely]

Originally Posted by Unregistered

SIM UOL grad in 2005 (FCH). After 13 years in the workforce I am drawing about $130k pa. How am I doing?

Which industry are you at? Title?

Originally Posted by Wisely

Which industry are you at? Title?

Marine Offshore, Sr Manager (no title inflation like in banks and civil service).