| Unregistered |
08-07-2014 09:25 PM |
i have worked 6 years in a large foreign investment and there is a degree of variance across different firms. My friends are mostly in banking and i can probably share what I know
For back office, generally speaking:
first 2-3 years - ~45-65K PA, incl bonus of 1-3 months. I heard bonus is higher in local banks (there are people with 0 bonus in my firm), but base is lower (40-60K).
after the initial few years, you should get promoted to the next level or salary will be stuck, as there is usually a cap for entry level positions (non-officers, analysts etc) and that cap will hover around 60K.
Once promoted, you will be in the middle-tier category which makes up a large part of bank office folks. These are the ones who have been promoted but yet to make VP. I myself was drawing ~75K (5 years experience) back then. Bonus around 20K. I have heard of people being stuck in this rank for >15 years, so pay really differs greatly. Lower end is 60K, high end up to 180K PA, both exlucding bonus.
Earlier this year i switch roles and am now drawing 100K basic - if you dont change firms or roles, expect to be stuck with a crappy increment annually. The banking industry rewards people who switch firms. Sad but true.
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