Sgx

Originally Posted by Unregistered

A couple of points:-

1) European Banks usually use Associate Director designation instead of VP designation, except for local positions, which will not pay global scales (hence $17k p.m. is not possible, even for VP positions,possibility.

2 points regarding the above analysis...Deutsche Bank is European and it uses AVP, VP designations..secondly, if one starts off in the MA/Grad program in IB front office, he already make 100k p.a or more as an associate...so saying that making 17k/mth as an AVP is only possible with at least 12 mths bonuses is not definite. However I do agree it's on the high side for an AVP..but in IB/fund management, we never know!!

Originally Posted by WiredJustice

Just ignore him lah, obviously just a troll out to stir shlt.

Actually if people serious in understanding market pay for a job, besides going to HR can actually look for the management consulting firms. I once paid Hewitt (now called Aon) to do a job pricing for me to make sure that a Shanghai offer I had was reasonable.

The probelm is they charge $$$ (USD550 for my case) & most people who are at junior level really no point in spending the money.

Agree.

A couple of sources I usually use are market surveys and headhunter discussions. Front office bankers usually receive a few calls from headhunters every week sounding out potential opportunities in various banks (less nowadays as there is a general slowdown in hiring).

Does not take much to fish out the pay range the other banks are paying for similar positions. After a while u will know the general payscale for your position, and the one above, in various banks i.e. US banks, Local banks, Jap banks, Universal banks, Boutique banks etc.

If you are a banker and you do not know the market, you are setting yourself up for career mis steps. First, you have no leverage in your internal bonus discussions, and second, you may move to another bank for a slight step up in pay but with effectively a demotion (as diff banks have different ranking scales and some have rank inflation).

[poorman]

Originally Posted by Unregistered

Very obvious you've never worked in a bank.

FACT: there are some very high-earning employees who are VERY free.

FACT: Yes I have and no reason to prove it either.

My assumption is you seem bitter about a discrepancy about the time+effort you put in at your work as opposed to others (superiors or peers).

Just remember, they earned the right to be in that position so instead of feeling bitter about it, work on reaching that goal.

Originally Posted by Liverpool

my fren no honors, 3 yrs exp, still analyst, back office at GIC... earning $6k a mth, annual package is above $100k...

it is possible but must work the right companies and the right positions...

Great to hear that GIC pays well. Hope your friend dun dua kang cos i am negotating my pay package with them next week.

Originally Posted by Unregistered

Great to hear that GIC pays well. Hope your friend dun dua kang cos i am negotating my pay package with them next week.

so what is the starting pay for fresh grad 2nd upper with NS in GIC??

Originally Posted by Unregistered

so what is the starting pay for fresh grad 2nd upper with NS in GIC??

4.2 - 4.8k depending on role

Stumbled upon this thread.

So many assumptions made by so many people.

SGX AVP has 2 levels. VP has 3 levels before you hit SVP, then EVP.

Basic salary for SGX is not high. Large part of the annual package comes end of year as variable bonus. A good performer senior AVP gets 170-200K per annum inclusive of bonus. Bonus anything from 4-8 months during avearge economy and depending on performance.

VP definately above 200k annual incl bonus. Anything from 200-400k depending on VP level and performance. VP range is quite wide as not many will make it to SVP since it's not a big company, and extremely limited SVP roles. Most VPs at SGX above 35, and they are rather selective in giving out VP roles.

And yes there is a retention issue.


Thats it

can someone share about the working culture/experience in SGX finance team? i;m considering a position in the finance team.

i'm hoping for some work life balance (im currently with a public accounting firm) and nice colleagues. is there a lot of office politics to deal with?

i also heard that with the new management on board there has been a lot of staff movement, so that kind of worries me - if im not able to work with the finance head then life will be quite miserable.

Originally Posted by Unregistered

can someone share about the working culture/experience in SGX finance team? i;m considering a position in the finance team.

i'm hoping for some work life balance (im currently with a public accounting firm) and nice colleagues. is there a lot of office politics to deal with?

i also heard that with the new management on board there has been a lot of staff movement, so that kind of worries me - if im not able to work with the finance head then life will be quite miserable.

Erm... hoping for work life balance and no office politic in SGX? Time to get out of lala land. The way SGX do financial disclosure is super on, detailed and fast because they want to set benchmark for other company to follow, the corp finance dept midnight go back is consider early.

Originally Posted by Unregistered

Erm... hoping for work life balance and no office politic in SGX? Time to get out of lala land. The way SGX do financial disclosure is super on, detailed and fast because they want to set benchmark for other company to follow, the corp finance dept midnight go back is consider early.

i will not be in the corporate finance team. the job scope entails mainly finance and some tax related work. when i met with them they mentioned that hours are decent - seems it's not true then.