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Originally Posted by Unregistered

Hi all,

I am keen to join the Membership Supervision Department of SGX. I have about 7 years of compliance experience in stock broking houses and 2 years of external audit experience.

With my background, what position should i apply for and how much salary should i be getting at SGX?

Thanks !!

Should be around high end of VP or SVP level. You need to register your CV with headhunter and ask them, SGX will not publish most job vacancies above AVP on website or Straits Times.

Originally Posted by Unregistered

Should be around high end of VP or SVP level. You need to register your CV with headhunter and ask them, SGX will not publish most job vacancies above AVP on website or Straits Times.

TS got 10 years experience should go for SVP.

I'm getting about 4.5K per month excluding bonuses.

Just 10 years experience and go go for SVP with salary in excess of 20k? You guys are in fantasy land!

Originally Posted by Unregistered

Just 10 years experience and go go for SVP with salary in excess of 20k? You guys are in fantasy land!

Many people in early 30s already VP, so TS 10 years a bit hard, but not impossible

I understand pay scale for SVP is $25k and above in SGX. Most people in that level are 40 and above. Don't misunderstand SGX from Banks. Different payscale. In fact a VP in SGX is equivalent to SVP in banks in terms of payscale. I am talking about generally.

[Liverpool]

Originally Posted by Unregistered

Just curious do you have access to HR info for all 3 local banks? I ask this because other than that I don't see how you can conclude for sure that no avp gets paid above 10k. It's not like all the avp just start shouting their salary on the street right?

For me I don't know how local bank pay, but 10k for avp sounds reasonable. I know a few friends in European banks who reached 10k even as associates, so will be very surprised if avp in local banks pay less than that.

for local banks, i can tell u it varies... e.g. if u r a AVP headhunted from a foreign bank to join a foreign bank cos of lack of specific manpower in a certain expertise, u can expect the local bank to pay u more than a foreign bank (else why would u move?)... in this case 10k is possible but u really really must have some specific skill they want, maybe u r a star trader or wat...

if u work ur way up, then no, e.g. u join in the local bank grad program, then rise ur way up to AVP. lets assume u join as fresh grad, starting pay is 3k+, lets say after 1-2 yrs, u r associate, so now $4k+, then if really gd after 1-2 yrs, AVP. U tell me how can the jump be so drastic to 10k? Impossible. Note that we are talking abt local bank here, foreign bank grad program pays more...

Then again, it varies by exp and position. An AVP with 10 yrs exp would obviously be paid more than an AVP with much lesser yrs of exp... an AVP at front office would also get paid more than an AVP at back office...

AVP does not equal 10k... It depends on your bank, your years of experience and more importantly the very special skills you possess...

Originally Posted by Unregistered

I understand pay scale for SVP is $25k and above in SGX. Most people in that level are 40 and above. Don't misunderstand SGX from Banks. Different payscale. In fact a VP in SGX is equivalent to SVP in banks in terms of payscale. I am talking about generally.

Again, the distinction between local and foreign bank needs to be clear. For foreign houses, payscale is not dissimilar to the scale you hv cited above (ie AD/VP 15 to 22 and director/svp 25 to 35 per month)

I am slightly skeptical that an exchange will pay equivalent to frontline banking at a foreign house. Does not seem to pass the smell test. But maybe its true cos (i) they are fishing from the same pool of talent (ii) base is equivalent but total comp is less and (iii) svp in sgx is a lot rarer than directors in banks.

Originally Posted by Unregistered

Again, the distinction between local and foreign bank needs to be clear. For foreign houses, payscale is not dissimilar to the scale you hv cited above (ie AD/VP 15 to 22 and director/svp 25 to 35 per month)

I am slightly skeptical that an exchange will pay equivalent to frontline banking at a foreign house. Does not seem to pass the smell test. But maybe its true cos (i) they are fishing from the same pool of talent (ii) base is equivalent but total comp is less and (iii) svp in sgx is a lot rarer than directors in banks.

SGX maybe slightly lower than foregin banks, but shouldn't be low until take 8 years to reach AVP with 7k. I think no matter what they call (avp/vp/director whatever) if got about 6 years exp should be at least 10k base.

My salary progression. 2nd Lower Honours, NTU Engineering

1998 Civil Service S$2791
1999 Civil Service S$2980
2000 Civil Service S$3300 -> Emplaced to 2nd Upper Honours Track due to good perf
2001 Civil Service S$4275 -> Promoted
2002 Quit Civil Service to trade stocks at home to create track record: Negative S$1000 on average
2003 Traded financial futures at home: +S$2500 per month on average
2004 Traded financial futures at home: +S$4000 per month on average
2005 Hired by local Hedge Fund as their proprietary trader S$3800pm + $20k performance bonus
2006 As in 2005: S$5600 pm + S$88k bonus
2007 Joined global asset management firm as balanced funds fund manager: S$10k per month + S$70k bonus
2008 Joined another global firm: S$15k per month + $50k bonus
2009 As above S$16k per month + bonus similar to above
2010 As above S$17k per month + same bonus --> promoted to SVP
2011 As above S$18k per month + same bonus
2012 - Planning to start my own hedge fund with my very modest capital. Hope to grow it.

Thankful for a supportive wife who has been bearing with me since 2002.