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Appreciate your advice. |
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Which bank you join actually not much difference since you will be largely servicing normal people as opposed to HNI, so these guys tend to sign with the first decent guy that comes along instead of bank/banker loyalty. This also mean very competitive as you need to constantly source for new clients as your existing client unlikely to stay with you. As for pay and work stress level, not much difference base on a few of my peers who work in different banks. Foreign banks remuneration and KPI in this space is more or less the same as local ones. Since you are from IT in a corporate setting, I need to warn you that the transition is very drastic and calls for complete change in mindset. If you want to survive & prosper, you have to be 101% competitive and go all out for each & every single deal. This is different from the usual long work hours to meet deadlines normal corporate job. |
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No doubt the stress from long hours clocked in a corporate non-sales environment differs a great deal as compared to front liners. Whatever mentioned above was a great reality check for myself, and before the anticipated leap of faith. I will definitely keep them in mind. Cheers! |
This is a great thread, provides some insights into e role. Am actually going for a 2nd round of personal banker interview with cimb soon. After reading e inputs, i am more determine to carve a career with it.
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May I know what is the Starting salary for a mortgage specialist in OCBC?
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10char |
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My wife (then fiance) was one for about 1.5 years as her first job. She is still in the same bank after 8 years but has moved on to other non-sales roles. Be prepared for long hours - most of the office hours are spent catching up with paper work, then chilling with your fellow sales people at cafes/pubs or at the smoking corner. The long hours are due to cold-calling after office hours, since that is when most customers are free. Or if your BM (usually a 30-something, previously top-sales PB who went into the management track instead of continuing in sales RM/Offshore/Pte Bank track) is a chiongster type then you will be spending your evenings drinking a lot... don't expect the BM to always pick up the tab, sometimes you find yourself having to pick up a $1+k tab. Good luck if your branch is into extended banking hours and open on weekends, otherwise weekends are spent at roadshows. Your partner will have to be very understanding because of your hours at work and also cos of the young/ hot colleagues that you will be spending a lot of time with. The bank consumer sales organisation is a rotating door with ins/outs every month. Sales people are expendable, work them hard for 2 years and then change the lot out. Of course if you succeed in the top 5% the commission/bonus (different schemes in different banks) will be rewarding, incentive trips (very attractive, instagram-able destinations), hob-nobbing with the top of the network and hopefully a jump into the higher echelons of the sales organisation. Most sales people are materialistic (part of how that motivates you to sell) and yet needs a lot of TLC and motivation from management (speaking from experience - I was one for 2 years). Of course management will only give you TLC if you are a performer, otherwise if your motivation wanes then it's time to move on. If this is not for your then suggest you continue in SAF which is stable and salary is not that bad right? |
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How is the quota for monthly sales? |
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HI, need u all commen I looking for mortgage specialist job in sg. May I know what is the basic ....4 k is the normal...?? Btw if meet the target every month &a the commission is pay by monthly right or quarterly ??? Thanks |
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