Banking - Back Office

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.

Originally Posted by Unregistered

Hey yes, it is offered under Arts. However I am aiming to graduate with Social Science (hons) instead. Frankly I find Arts pretty ridiculous to graduate with the basic requirements stated.

But anyway, I believe econs will instill critical analytical skills which will be crucial when i progress to finance/ trading area. Hence explaining why i am looking at taking up CFA prog. Just wondering will taking CFA help in this sense?(I haven't been as far in life compared to you guys, so i ask for your humble opinions on this) Also, econs will do myself good when i am doing personal trading.

Although i know school seminars are pretty much a big scam, but there was this graduate (graduated not long ago) invited to share his experiences. He is currently working in one of the big 4 in sg, and he graduated with BA(econ). Perhaps he's one in a million, but just wondering, what do you think he is working as? (I apologize if this question sounds illogical)

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

Originally Posted by Unregistered

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

Are you a fresh grad?

Yes I'm a fresh grad

Originally Posted by Unregistered

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

you shld be working for credit sussie.
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?

Originally Posted by Unregistered

you shld be working for credit sussie.
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

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.

Originally Posted by Unregistered

Im not working in CS. But may I know if the pay scale is similar in other foreign banks?

Stanchart?

Originally Posted by Unregistered

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.

10% yrly increment in 5yr + 20% for promotion sld give u 10k in avp.
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

Originally Posted by Unregistered

10% yrly increment in 5yr + 20% for promotion sld give u 10k in avp.
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

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?