|
|
11-03-2012, 10:46 PM
|
|
sincere
dont waste your time
stick to your civil service job
|
12-03-2012, 11:51 AM
|
|
Quote:
Originally Posted by Unregistered
Thanks for sharing. Do u think those in local or foreign banks make more? I heard local banks' treasury sales hit comm more easily becos they have more deposits and accs than the foreign banks.
Also, in the past 2 years, since the set up of the higher tier (aka "private client") of priority/premier banking, alot of high net worth accs hv been migrated to these "private client" tiers, leaving less AUM for RMs and TSOs in priority banking...so do u still think the average TSOs are making 120k-150k today? above average abt 150-200k?
|
Personal Opinion only, may not be true. I think local bank hit comm easier because of the much much larger deposit base. Foreign banks need to "snatch" client base which is very competitive. The priority market belongs to the local banks because of that and I think ANZ, standard chartered, Citibank maybank etc had a slight disadvantage but they had a more sophisticated client base. For private banking, it is the other way as international tycoons like big names like Credit Suisse, UBS etc e.g if you have USD 50m, you are more like to choose UBS than choose say UOB private bank. If you like niche markets, then EFG, Julius Baer, Sarasin, Coutt will be a better choice.
Oh about today market, I think it is a different era. Money is harder to earn from all fronts and "easy" money seems to be disappear altogether. The clients also getting more savvy which means lesser margin. I think if got comm, average should still 100 to 130k but getting anything above 400k p.a. is becoming rarer. Everyone is sequeezed. I fear for final demolition of this niche segment in a few years time. Chances that everybody will switch to (pathetic) bonus scheme and no more comms.
|
12-03-2012, 12:20 PM
|
|
Quote:
Originally Posted by Unregistered
Personal Opinion only, may not be true. I think local bank hit comm easier because of the much much larger deposit base. Foreign banks need to "snatch" client base which is very competitive. The priority market belongs to the local banks because of that and I think ANZ, standard chartered, Citibank maybank etc had a slight disadvantage but they had a more sophisticated client base. For private banking, it is the other way as international tycoons like big names like Credit Suisse, UBS etc e.g if you have USD 50m, you are more like to choose UBS than choose say UOB private bank. If you like niche markets, then EFG, Julius Baer, Sarasin, Coutt will be a better choice.
Oh about today market, I think it is a different era. Money is harder to earn from all fronts and "easy" money seems to be disappear altogether. The clients also getting more savvy which means lesser margin. I think if got comm, average should still 100 to 130k but getting anything above 400k p.a. is becoming rarer. Everyone is sequeezed. I fear for final demolition of this niche segment in a few years time. Chances that everybody will switch to (pathetic) bonus scheme and no more comms.
|
Hi, are u in FO banking? Or just giving your observation/opinion of the mkt?
|
12-03-2012, 12:40 PM
|
|
Quote:
Originally Posted by Unregistered
Hi, are u in FO banking? Or just giving your observation/opinion of the mkt?
|
Hi, I am the "advisor" in Treasury Sales, can be considered in FO banking. Own observation and opinion. Nothing is certain but a drop in overall income seems to be the trend now. Maybe beside politicians, no one else is supposed to earn over $1m now or you will be frown upon
|
09-09-2012, 01:29 AM
|
Junior Member
|
|
Join Date: Sep 2011
Posts: 7
|
|
Hi,
When Steve Jobs/ Bill Gates started, had they listened to people who said "no their idea will fail", they wouldn't be where they are today. It's important to be pragmatic and realistic, but equally important to have dreams and hopes. One needs to have goals, and consistently work towards your goal. The keyword is consistent. Even if you don't reach your goal eventually, you would still land somewhere nearer.
I am currently in investment banking with SC. My annual package including bonus last year was slightly over 200k.
I came from a Computer Engineering background with only 2nd lower hons from NUS. I worked in DSTA for about a year and enrolled in SC International Graduate programme. Initially, after the 3rd round of interview, HR wrote me a letter to thank me for my application. I was disappointed, but I wrote to the HR manager and one of my interviewers a long thank you letter (addressed to each of them personally) to thank them for the interview opportunity. Surprisingly about two weeks later, I received a call from the HR. She said they have a vacancy now. Apparently, one of the interviewers fought for me and gotten approval from the UK office to add in one more slot just for me. I was thankful for the opportunity to be able to go thr' the 2 years of IG programme. It was extremely fruitful because I got rotated around various departments in the bank. After 4 yrs in SC, I have no regrets I tried.
I am not saying if you try you will definitely succeed, I am just saying if you don't, you will never know how far you can venture.
|
09-09-2012, 12:02 PM
|
|
Quote:
Originally Posted by ricardo
Hi,
When Steve Jobs/ Bill Gates started, had they listened to people who said "no their idea will fail", they wouldn't be where they are today. It's important to be pragmatic and realistic, but equally important to have dreams and hopes. One needs to have goals, and consistently work towards your goal. The keyword is consistent. Even if you don't reach your goal eventually, you would still land somewhere nearer.
I am currently in investment banking with SC. My annual package including bonus last year was slightly over 200k.
I came from a Computer Engineering background with only 2nd lower hons from NUS. I worked in DSTA for about a year and enrolled in SC International Graduate programme. Initially, after the 3rd round of interview, HR wrote me a letter to thank me for my application. I was disappointed, but I wrote to the HR manager and one of my interviewers a long thank you letter (addressed to each of them personally) to thank them for the interview opportunity. Surprisingly about two weeks later, I received a call from the HR. She said they have a vacancy now. Apparently, one of the interviewers fought for me and gotten approval from the UK office to add in one more slot just for me. I was thankful for the opportunity to be able to go thr' the 2 years of IG programme. It was extremely fruitful because I got rotated around various departments in the bank. After 4 yrs in SC, I have no regrets I tried.
I am not saying if you try you will definitely succeed, I am just saying if you don't, you will never know how far you can venture.
|
it seem that your age 30/31 ????Am I corrected
|
09-09-2012, 01:32 PM
|
|
Quote:
Originally Posted by Unregistered
it seem that your age 30/31 ????Am I corrected
|
Ricardo is very positive. I kinda agree. I find comments in forums are more often than not, disparaging. We really need more constructive feedbacks.
I am currently in IG programme with GS. My age is 30. Yes, fresh grads do have advantages when applying to such programmes. And typically the application rate for such programmes are over a thousand, fighting for the 30 odd places for more prestigious international financial institutions / banks. If you are saying "If you are more than 30 yrs old, you don't stand a chance at all, 0% chance", well, i am here to vouch otherwise.
Credentials and age are factors but one thing Ricardo didn't mention is also personality. When interviewers hire potential bankers, one important criteria they look at is your personality as well your interest in the area and how you portray that you have that interest is equally important as well. You can be from Ivy league, top guy, 24 yrs old, but if your personality is not really what they look for, compared to a 30 yrs old with lesser credentials but having great personality, some one who can convince. End of the day, who do they hire. Well, I am not from any Ivy League Unis.
I think the bottom line is, be sure what your passion is, or at least where your interest lies. Lock in on your target and like Ricardo said, work consistently on it. Don't give up just because someone else who had given up on their dreams told you "nah, its impossible, keep dreaming".
|
09-09-2012, 09:50 PM
|
|
Really? Banking and finance is your passion? Or is it the money?
Would you do it if the pay is the same as that in other industries?
|
09-09-2012, 10:48 PM
|
|
Yes you can
To thread starter
I made a career switch from the civil service to a business/finance related role when i was 30. That was several years ago and I'm now making 250+k (nothing to shout about)
So yes, it is possible to change careers from the civil service, but it wont be easy. You willneed the smarts and the drive. You will also find that many people younger than you will be ahead of you, so be prepared to work your way up again (i wld probably be makng double of what i am now if i had started my career off on the "right track")
|
25-09-2012, 03:18 PM
|
Junior Member
|
|
Join Date: Sep 2012
Posts: 4
|
|
Quote:
Originally Posted by Unregistered
To thread starter
I made a career switch from the civil service to a business/finance related role when i was 30. That was several years ago and I'm now making 250+k (nothing to shout about)
So yes, it is possible to change careers from the civil service, but it wont be easy. You willneed the smarts and the drive. You will also find that many people younger than you will be ahead of you, so be prepared to work your way up again (i wld probably be makng double of what i am now if i had started my career off on the "right track")
|
would you provide me some guidance as a fresh grad? i am from one of the local uni and i would like to consult you on my carrer path. It would be awesome if you are willing to help me out alittle. do PM me...
-worriedfreshgrad
|
|
|
Posting Rules
|
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» 30 Recent Threads |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|