Since he is not accounting trained he probably is not doing audit or tax
Likely in the advisory services e.g Risk Management, Corporate Finance. Quote:
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I will be starting my work in one of the foreign bank ops in changi business park. Anyone can advice on the yearly increment and promotional increment?
My starting salary is 3.8k-4.2k |
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Yes I'm a fresh grad
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yearly ard 10%, after 5 yr, you shld be getting assistant vp which starts at 10k. after another 5yr, you shld be vp which starts at 16k. another 5yr, you shld be director which starts at 25k. most back-office ppl will get stuck here for the rest of career. only 1 or 2 could reach MD when sky is the limit. bonus around 4-5mth onwards only issue is changi is a boring place and has no visibility to senior management. try to ask for transfer in 1yr to role located in one raffles quay |
Im not working in CS. But may I know if the pay scale is similar in other foreign banks?
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Is this the normal route of advancement for foreign banks, or does it only apply for outstanding performer. Seems kind of fast-tracked for one to be able to make 10k after 5 years, especially as TS stated he's in ops. That being the case I would see most of the ops folks earning $10k or more in foreign banks... Seems unlikely to me, though it might be true. I'm from local bank and it sucks if that is really true. |
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The career track i mention is quite average as it takes 10yr to reach vp. If u r good, u reach vp in 6yr - only seen this in trading or risk mgt |
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In my bank (local bank), when u look at those with more than 10 years of experience, there are heaps more below the rank of VP compared to VP. To reach a VP within 10 years is definition not considered average, at least, thats my opinion. I've been working for 8 years. Considered average-good performer with 4 months bonus for the past few years. Current rank is AVP and I dun think VP is in sight for the next 2 years. I should think it will be more difficult to attain VP rank in foreign banks. Anyone can ascertain this? |
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