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Unregistered 06-12-2015 04:27 PM
Please don't add suffering those inside. And bring suffering to self

Unregistered 06-12-2015 11:54 PM
Quote:
Originally Posted by Unregistered (Post 76071)
Rubbish, let me tell you how much they are really paying

GS/JPM - 4.3 to 4.5k
Citi/UBS/CS - 4 to 4.5k
DBS - 3.5k to 3.8k
SCB/UOB - 3.3 to 3.5k

This is ops team, tech team pay

GS - 4.9k
JPM/Citi/DBS - 4.5 to 4.7k
UBS/CS/DB - 4 to 4.5k
SCB/UOB - 3.3 to 3.5k
.

I didn't say I work for any of these banks? So you might be right on your figures. But my firm pays 6k for a junior ops analyst with experience.

Unregistered 07-12-2015 12:03 AM
Quote:
Originally Posted by adsl- (Post 76315)
It seems like i cant even get into those "crappy" roles without any sales experience. Any advice?
Crappy sales role are looking for sale orientated crappy people. It might be a blessing in disguise that they don't want you. You can try those contract Bo roles with kelly services or other agency. And you might be better in non banking. Some sim degree people did some crappy admin job at oil company and the senior trader liked him so much he became a oil trader. Strange things often happen in life.. If you have done enough good deeds in your earlier years, something good will pop up from nowhere... Cheers

Unregistered 19-12-2015 08:32 PM
Barclay selling off its asset management in Asia.
Stanchart shutting it's Asian equity derivatives. Twin brothers sinking

Unregistered 20-12-2015 01:24 AM
which is better- tech or ops?

Unregistered 24-12-2015 12:59 AM
Quote:
Originally Posted by Unregistered (Post 77014)
Barclay selling off its asset management in Asia.
Stanchart shutting it's Asian equity derivatives. Twin brothers sinking
Your "Barclay" is also shrinking its tech operations in Singapore BIG TIME.

Meatball 07-01-2016 07:21 PM
I think be a dbs unit trust seller or help atm aunties better

Unregistered 08-01-2016 08:53 PM
I see all those free grad minimum 1.85m helping aunties with deposit... tsk tsk...
I don't know are they gigs or bank staff...
what is this world coming too

Unregistered 09-01-2016 08:06 AM
Actually if you are paid less than 4k in the banking industry then not worth the risk. Really man..
And the 10k salary is not for anyone. 4k for the glam is not a sustainable reason

Unregistered 11-01-2016 08:53 PM
Hi,

can any1 share the culture and environment like in deutsche bank technology department?
Is it safe to join deutsche bank now?

Tiptop 12-01-2016 05:15 PM
Quote:
Originally Posted by Unregistered (Post 77901)
Hi,

can any1 share the culture and environment like in deutsche bank technology department?
Is it safe to join deutsche bank now?
Every year there will be 1bank kana litigation big one.. It's a rotation. Deutsche heng heng kana in Oct 2015. 6 billion euro loss is booked in Q32015.
It's 2014 full year is only 1.7 billion.

Like that Brazil and China now closing shops.. 25% headcount chopped.. 25000..
New ceo in July 2015, not sure when he will stop chopping,...

Unregistered 14-01-2016 07:57 PM
As long as they are hiring take first. No good just Zhao..

Unregistered 14-01-2016 09:38 PM
Guys there is a Data Analyst job at SCB, I am going for interview.
Can I check is SCB safe now. I only read Barclays and Deutsche are quite deep in the waters now.

Hate apnn 22-01-2016 11:32 AM
As mentioned by chop chop kali-pop.

://.straitstimes.com/business/banking/barclays-laying-off-100-employees-in-singapore

Db is better. They paying 0.8billion to the layout staff. (not too black heart). I guess they are not too deep in the "black" like BC..

Unregistered 22-01-2016 10:43 PM
Quote:
Originally Posted by Unregistered (Post 78098)
Guys there is a Data Analyst job at SCB, I am going for interview.
Can I check is SCB safe now. I only read Barclays and Deutsche are quite deep in the waters now.
Should be ok in sg and at your level.

Unregistered 22-01-2016 10:44 PM
Quote:
Originally Posted by Unregistered (Post 76071)
Rubbish, let me tell you how much they are really paying

GS/JPM - 4.3 to 4.5k
Citi/UBS/CS - 4 to 4.5k
DBS - 3.5k to 3.8k
SCB/UOB - 3.3 to 3.5k

This is ops team, tech team pay

GS - 4.9k
JPM/Citi/DBS - 4.5 to 4.7k
UBS/CS/DB - 4 to 4.5k
SCB/UOB - 3.3 to 3.5k
im contracted with UBS ops at the moment drawing 2.8 as a fresh grad. may i know if i were to be converted i can expect this range of 4-4.5? thats like a very big jump.

Unregistered 23-01-2016 03:12 PM
Quote:
Originally Posted by Unregistered (Post 78578)
im contracted with UBS ops at the moment drawing 2.8 as a fresh grad. may i know if i were to be converted i can expect this range of 4-4.5? thats like a very big jump.
no. 3.3-3.5 would be more likely

Unregistered 26-01-2016 08:00 PM
Quote:
Originally Posted by Unregistered (Post 78578)
im contracted with UBS ops at the moment drawing 2.8 as a fresh grad. may i know if i were to be converted i can expect this range of 4-4.5? thats like a very big jump.
Unfortunately I found out that those figures are only true for local grads. SIM grads are on a different payscale - even for the same exact role and to add salt to injury, a local grad would be staffed as a full-timer

Unregistered 26-01-2016 09:53 PM
Quote:
Originally Posted by Unregistered (Post 78813)
Unfortunately I found out that those figures are only true for local grads. SIM grads are on a different payscale - even for the same exact role and to add salt to injury, a local grad would be staffed as a full-timer
Not really true, it could also be the other way around.
Banks do not place much emphasis on where you obtained your degree from unlike public sector.
They are willing to pay high amount for people that are able to deliver.
If they want you they would pay you according to your rank pay scale and not low ball you just because of your degree.

Unregistered 26-01-2016 10:01 PM
Yes but it's very common to see SIM students being staffed as contract staff.

And as you might know, that would mean they are on a different pay scale. Let's not even get started on benefits...

Unregistered 27-01-2016 09:29 AM
Quote:
Originally Posted by Unregistered (Post 78815)
Yes but it's very common to see SIM students being staffed as contract staff.

And as you might know, that would mean they are on a different pay scale. Let's not even get started on benefits...
On that topic, and since you know the industry, may I ask how much salary does a MBB consultant get, a) starting after undergraduate and b) starting after MBA with 3 years of experience?

Unregistered 27-01-2016 09:37 AM
Quote:
Originally Posted by Unregistered (Post 78578)
im contracted with UBS ops at the moment drawing 2.8 as a fresh grad. may i know if i were to be converted i can expect this range of 4-4.5? thats like a very big jump.
One look at your 2.8k for UBS ops and I know there is something wrong. I'm sure you didn't graduate from the local uni trifecta.

Unregistered 27-01-2016 10:40 AM
Quote:
Originally Posted by Unregistered (Post 78825)
On that topic, and since you know the industry, may I ask how much salary does a MBB consultant get, a) starting after undergraduate and b) starting after MBA with 3 years of experience?
Not the guy who posted this but - a fresh grad at MBB gets paid about 5.5k to 6.5k, not too sure what the actual figure is. With MBA, experience doesn't really get you paid more if you are restarting your career but you can expect an annual of about USD110K if based in the US, I would adjust downwards for the local offices

Unregistered 27-01-2016 11:02 AM
Quote:
Originally Posted by Unregistered (Post 78835)
Not the guy who posted this but - a fresh grad at MBB gets paid about 5.5k to 6.5k, not too sure what the actual figure is. With MBA, experience doesn't really get you paid more if you are restarting your career but you can expect an annual of about USD110K if based in the US, I would adjust downwards for the local offices
Thank you. I'm surprised at the fresh grad MBB starting salary, I thought at least $7k.

Hmmm ... interesting. I had word that MBB after MBA was key to big bucks but it seems IB VPs getting a little more. So if did banking for five years in Singapore, got MBA in States but returned back to Singapore, salary about S$11k base?

Unregistered 27-01-2016 11:57 AM
Quote:
Originally Posted by Unregistered (Post 78838)
Thank you. I'm surprised at the fresh grad MBB starting salary, I thought at least $7k.

Hmmm ... interesting. I had word that MBB after MBA was key to big bucks but it seems IB VPs getting a little more. So if did banking for five years in Singapore, got MBA in States but returned back to Singapore, salary about S$11k base?
I thought so too. I know one of the boutique firms here pays about 7k and I heard that its more than what MBB would pay a fresh grad.

What you heard is right - A high percentage of ex-MBBs move on to C-level position. In the US, at least 30% of the firm's CEO were previously from top consulting firms. If you do banking, you have to be clear of what type of banking - generally to get into a b-school in US, a typical candidate worked in a client facing role, or was part of an amazing start-up story or did social enterprise with very clear impact and so on.

Anyway, 5 years is quite a long period. I thought that I would take 5 years as well - to save money and such (expect to spend a total of >= USD200k for a 2 year MBA). If you are certain you want to go into consulting after MBA, you can take loan - there's this start-up by a few INSEAD grad that offers interest-free loans during your study provided you gain entry into one of the top grad schools around the world.

In the US, most tier2 consulting firms would offer to pay your 2nd year tuition after a successful internship and FT conversion and you start off your base at USD11k

Unregistered 27-01-2016 01:51 PM
Quote:
Originally Posted by Unregistered (Post 78841)
In the US, most tier2 consulting firms would offer to pay your 2nd year tuition after a successful internship and FT conversion and you start off your base at USD11k
And what about that same situation but returning to Singapore? Tier 2 or MBB in Singapore? S$11k?

Unregistered 27-01-2016 02:11 PM
investment banking pays more than MBB consulting on average. OM (finance focused, tier 2 consulting house) pays 7k, higher than MBB actually.

Prestige:
Mckinsey > BCG > Bain

Pay:
Bain > BCG > Mckinsey

Unregistered 27-01-2016 02:12 PM
Quote:
Originally Posted by Unregistered (Post 78845)
investment banking pays more than MBB consulting on average. OM (finance focused, tier 2 consulting house) pays 7k, higher than MBB actually.

Prestige:
Mckinsey > BCG > Bain

Pay:
Bain > BCG > Mckinsey
sorry i meant OW, not OM

Unregistered 27-01-2016 03:01 PM
Quote:
Originally Posted by Unregistered (Post 78845)
investment banking pays more than MBB consulting on average. OM (finance focused, tier 2 consulting house) pays 7k, higher than MBB actually.

Prestige:
Mckinsey > BCG > Bain

Pay:
Bain > BCG > Mckinsey
Got that. I was asking pay for MBB in Singapore after 2 - 3 work experience and MBA. Supposing the candidate paid US$150k for his MBA, he needs to pull in a high pay. From what I gather, considering tax and living expenses, I say S$11k.

Unregistered 27-01-2016 03:06 PM
428
 
Quote:
Originally Posted by Unregistered (Post 78850)
Got that. I was asking pay for MBB in Singapore after 2 - 3 work experience and MBA. Supposing the candidate paid US$150k for his MBA, he needs to pull in a high pay. From what I gather, considering tax and living expenses, I say S$11k.
yeah no idea about that. my figures are for fresh grad pay.

Unregistered 27-01-2016 03:26 PM
The figures are correct. MBB in Singapore typically pays about 6K, and is definitely lower than FO roles in AM, IB, S&T etc.

Unregistered 27-01-2016 04:02 PM
Quote:
Originally Posted by Unregistered (Post 78841)
generally to get into a b-school in US, a typical candidate worked in a client facing role, or was part of an amazing start-up story or did social enterprise with very clear impact and so on.
I have been researching this for quite a bit.

Graduates from consulting and financial services graduates typically comprise about ~30% in total of a school's admits.

There is still enough legroom to get to B-School if you provide a compelling enough reason. I actually think good graduate programs that structure you well for management is also something that sets you up for B-school.

Unregistered 27-01-2016 04:29 PM
Quote:
Originally Posted by Unregistered (Post 78853)
I have been researching this for quite a bit.

Graduates from consulting and financial services graduates typically comprise about ~30% in total of a school's admits.
Where does this 30% number come from?

Unregistered 27-01-2016 04:47 PM
From the incoming class profile of top b-schools like harvard, wharton etc.

Unregistered 27-01-2016 05:38 PM
Quote:
Originally Posted by Unregistered (Post 78858)
From the incoming class profile of top b-schools like harvard, wharton etc.
What I mean is the 30% number is published where? Or is this your personal guess?

Unregistered 27-01-2016 06:09 PM
Quote:
Originally Posted by Unregistered (Post 78863)
What I mean is the 30% number is published where? Or is this your personal guess?
I just looked at the trifecta of business schools HWS.

Here you go:

://.hbs.edu/mba/admissions/class-profile/Pages/default.aspx

://mba.wharton.upenn.edu/admissions/class-profile/

s://.gsb.stanford.edu/programs/mba/admission/evaluation-criteria/class-profile

If you exclude PE from financial services, it's about ~30%. I think that schools like Wharton (and others with a finance bent like NYU/Columbia) would probably be closer to 50% though.

Unregistered 27-01-2016 10:03 PM
Quote:
Originally Posted by Unregistered (Post 78850)
Got that. I was asking pay for MBB in Singapore after 2 - 3 work experience and MBA. Supposing the candidate paid US$150k for his MBA, he needs to pull in a high pay. From what I gather, considering tax and living expenses, I say S$11k.
You mean a mba grad who worked elsewhere after finishing b-school? Unfortunately, thats even harder than trying to join as a fresh grad.

Check out victor cheng, reddit consulting and wso. You will find that is true.

Unregistered 02-05-2021 06:08 PM
Quote:
Originally Posted by Unregistered (Post 24974)
Yeah.. MA from one of those banks I have listed. All of us had to spend some time in Operations so we made some friends in Ops and they shared with us their lives.

I would say that Ops are pretty overworked and underpaid. Pity though because they contribute significantly to the bank. Thats why when I was in ops, I realise everyone was *ahem* sensitive topic. . Non-Singaporeans. The Singaporeans there are mainly those from *ahem* another sensitive topic.. SIM / Part-time degrees. Poly. Those who didn't do well in NTU/SMU/NUS. Or those from unrelated courses like arts.

Alot of uncles and aunties also. Those in their late 30s, 40s. No more bargaining power. Bank treats them like ****.

How bad? I saw one uncle receive $500 bonus a few years ago when I was in the department. He was late 50s and his wife had cancer. He actually retired already but the cancer wiped out his entire savings. Went back to work in OPS. No more bargaining power. . probably paid $2k? Needed the bonus badly as he hoped to bring his wife for a short trip to Malaysia.

When he went into the room. He didn't say anything. When he came out he couldn't hold back anymore and cried. Initially I admitted in my mind I was "LOL", because of Bonus cry is abit extreme right? Then when I talked to him and he told me what he needed the money for I felt very bad. I spoke to the department head and the department head told me that actually this year NO BONUS. The $500 came out from his own pocket.

Then I realise... I'm never going to stay in Ops. Work till 40 then what? No progression. No more bargaining power. Got young and cheap grads + FT to replace you anytime. Not happy leave la.. the bank happier!

Sorry abit off topic.. just remembered this incident and got abit emotional writing this.
Chanced upon this and so shocked and sad to read this :( stay strong, those in ops!

Unregistered 18-06-2021 04:35 PM
Quote:
Originally Posted by Unregistered (Post 24974)
Yeah.. MA from one of those banks I have listed. All of us had to spend some time in Operations so we made some friends in Ops and they shared with us their lives.

I would say that Ops are pretty overworked and underpaid. How bad? I saw one uncle receive $500 bonus a few years ago when I was in the department. He was late 50s and his wife had cancer. He actually retired already but the cancer wiped out his entire savings. Went back to work in OPS. No more bargaining power. . probably paid $2k? Needed the bonus badly as he hoped to bring his wife for a short trip to Malaysia.

When he went into the room. He didn't say anything. When he came out he couldn't hold back anymore and cried. Initially I admitted in my mind I was "LOL", because of Bonus cry is abit extreme right? Then when I talked to him and he told me what he needed the money for I felt very bad. I spoke to the department head and the department head told me that actually this year NO BONUS. The $500
wow the department head is a true leader

Unregistered 20-09-2021 10:22 PM
Citi
 
Hi all, I’m a mid-career applicant to Citibank who just got offered a role that is situated somewhere in between MO and BO. Read through the thread and it sounds like progression is slow in Citi. What happens if I get stuck at the same rank (VP/SVP) for many years and remain there till retirement? Will I keep getting salary increments every year? Or will I eventually hit a pay cap and no more increments till I get promoted.


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