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STOP THE MISINFORMATION: SG Salary Guides For Accounting, Banking, Finance & IT

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  #1 (permalink)  
Old 24-02-2012, 03:23 AM
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Thumbs up STOP THE MISINFORMATION: SG Salary Guides For Accounting, Banking, Finance & IT

Hoping to clear up some doubts and mis-information with regards to salaries in SG. These are the latest salary report guides by Robert Half SG for 2011:

Banking & Financial Services Salary Guide 2011 by Robert Half:
(Mid and Back office only)
- Product Control, 6-9yrs exp, 120-200k
- Credit Risk, 6-9yrs exp, 120-200k
- Market Risk, 6-9yrs exp, 130-200k,

So as you can see, even for mid and back office roles, they do get quite a bit, so not everyone on the forum are being outlandish. I can't find the FO roles like IBD, S&T, ER, AM. Will update this when I find it, or perhaps someone could PM me.

SG Finance & Accounting Salary Guide 2011 by Robert Half

- Finance Manager, 6-9yrs exp, 110-140k
- Internal Auditor, 6-9yrs exp, 85-120k
- Tax Manager, 6-9yrs exp, 110-140k

SG Technology Salary Guide 2011 by Robert Half

- IT manager, 6-9 yrs exp, 125-145k
- Project Manager, 6-9 yrs exp, 100-125k
- Systems Admin, 6-9 yrs exp, 100-125k

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Old 24-02-2012, 01:45 PM
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Robert Half is a recruitment agency. Agencies are famous for super inflating their salary numbers to attract candidates to deposit CV with them.

If you want accurate benchmarks you need to go to management consulting firms like Aon Hewitt, Mercer, Hay, Towers Perrin, HRBS etc.

For eg. there is no way an average IT guy can hit $125k in 6 years like what they report. High fliers possible, but as an average, no.

I agree even mid and back office jobs in banks make a lot more than outside, but you loose credibility when you quote a recruitment agent.

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Old 25-02-2012, 04:13 AM
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The title of the thread is "Stop the Misinformation.." U mean the forumers or the recruitment agency is giving wrong figures?

Besides the earlier post on attracting candidates..higher advertised salaries also make sense for recruitment agents since they are paid a % of the successful candidates' salaries. So they have more incentive to inflate figures..

Perhaps by applying a discount of 20-30% on all the figures provided, we'll be closer to the real numbers in the market

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Old 25-02-2012, 09:14 AM
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Quote:
Originally Posted by Unregistered View Post
Robert Half is a recruitment agency. Agencies are famous for super inflating their salary numbers to attract candidates to deposit CV with them.

If you want accurate benchmarks you need to go to management consulting firms like Aon Hewitt, Mercer, Hay, Towers Perrin, HRBS etc.

For eg. there is no way an average IT guy can hit $125k in 6 years like what they report. High fliers possible, but as an average, no.

I agree even mid and back office jobs in banks make a lot more than outside, but you loose credibility when you quote a recruitment agent.
Agree. I check my salary against those published by recruitment firms and that prompt me to think of changing job.
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Old 27-02-2012, 02:19 PM
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Quote:
Originally Posted by Unregistered View Post
Robert Half is a recruitment agency. Agencies are famous for super inflating their salary numbers to attract candidates to deposit CV with them.

If you want accurate benchmarks you need to go to management consulting firms like Aon Hewitt, Mercer, Hay, Towers Perrin, HRBS etc.

For eg. there is no way an average IT guy can hit $125k in 6 years like what they report. High fliers possible, but as an average, no.

I agree even mid and back office jobs in banks make a lot more than outside, but you loose credibility when you quote a recruitment agent.
Sh!t then I'm in trouble. I went to an interview with a bank a few days ago for a risk management position and citied 160k as expected basic salary because the booklet the recruiter pass me listed risk management jobs as between 180k - 260k.

Since I'm switiching from engineering, I thought underquote a bit to make myself more competitive, but it's still 30% more than what I'm getting now. If the numbers are inflated, then I could be quoting numbers too high...
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Old 27-02-2012, 05:45 PM
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don't worry, at the most they just won't call you back.
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Old 27-02-2012, 09:55 PM
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Quote:
Originally Posted by miwashi View Post
don't worry, at the most they just won't call you back.
Miwashi aka The grasscutter is eating sour grapes again....
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Old 28-02-2012, 10:02 AM
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Quote:
Originally Posted by jonny View Post
Sh!t then I'm in trouble. I went to an interview with a bank a few days ago for a risk management position and citied 160k as expected basic salary because the booklet the recruiter pass me listed risk management jobs as between 180k - 260k.

Since I'm switiching from engineering, I thought underquote a bit to make myself more competitive, but it's still 30% more than what I'm getting now. If the numbers are inflated, then I could be quoting numbers too high...
Not possible lar, that kind of stated salary 180 - 260k would have been a head of department probably a SVP.
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Old 28-02-2012, 10:17 PM
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Quote:
Originally Posted by Unregistered View Post
Robert Half is a recruitment agency. Agencies are famous for super inflating their salary numbers to attract candidates to deposit CV with them.

If you want accurate benchmarks you need to go to management consulting firms like Aon Hewitt, Mercer, Hay, Towers Perrin, HRBS etc.

For eg. there is no way an average IT guy can hit $125k in 6 years like what they report. High fliers possible, but as an average, no.

I agree even mid and back office jobs in banks make a lot more than outside, but you loose credibility when you quote a recruitment agent.
6 years to hit 125K is not impossible. But it's whether you have the luck to enter such companies & whether you can tahan. Esso and UBS offer such kinda salary.

My fren in earned 6000 after 6 yrs in Esso plus his bonus everything it's more 125K. Another fren of mine in UBS, 7K after 7 yrs ...also abt 125K .
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Old 29-02-2012, 10:45 AM
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6 years to hit 125K is not impossible. But it's whether you have the luck to enter such companies & whether you can tahan. Esso and UBS offer such kinda salary.

My fren in earned 6000 after 6 yrs in Esso plus his bonus everything it's more 125K. Another fren of mine in UBS, 7K after 7 yrs ...also abt 125K .
He already said is possible, but just not average.

Why you repeat the point again?

The 125k refer to basic salary not with bonus btw, so even your friend from UBS & Esso also fail to meet which again proves the pt these numbers are BS.
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