Banking - Back Office

Originally Posted by Unregistered

Depends on what rank I will hit after 10 years. From Junior ranks to AVP is one leap.

From AVP to VP is difficult. VP to D even more difficult.

I would say base case I will be a VP at the end of the next 10 years. (or SVP). The cap will be around S$25k.

Bullish case will be I hit D. For that, I am not so sure what's the income cap. Probably a good guess will be S$30-35k.

The higher you go up, the more your variable will make up your total comp.

So annually it will be 400k min to 600k?

Depends on how well the bank does, how well the desk does and how well you do.

Typical VP range for front office is between $250-500k, In normal times.

In bad times, you can get no bonus at all.

Originally Posted by Unregistered

So annually it will be 400k min to 600k?

Originally Posted by Unregistered

Depends on how well the bank does, how well the desk does and how well you do.

Typical VP range for front office is between $250-500k, In normal times.

In bad times, you can get no bonus at all.

How about for BO? You mentioned you're aiming for VP and above (i.e. director if possible). So I presume typical annual salary for VP in normal times will range from $200-400k and director will be $300-500k?

Great work bro! U know the game being played around.
My burning qn is how did u manage to make the switch from BO to FO?
What were your specific behavioural patterns/strategies? (pl share in the same manner like u described in FO)

Originally Posted by Unregistered

Great work bro! U know the game being played around.
My burning qn is how did u manage to make the switch from BO to FO?
What were your specific behavioural patterns/strategies? (pl share in the same manner like u described in FO)

I lived off the money my parents send me, and my winnings at pachinko while waiting to find permanent employment. One day, I was recruited by a mysterious elderly gentleman by the name of Kozuka Taihei (Ueki). I later find out that the small, yet mild mannered Kozuka was once a legendary trader. Although clouded by the mystery surrounding Kozuka, I begin to work for him. In time, I find myself being mesmerized by the wave of numbers of the market. Sometime later, I learn Kozuka's real intentions...he wants to bankrupt one of the world's leading banks, Matsuba Bank. The two men of very different ages then try to go up against Matsuba and the elite bankers that work at the giant Matsuba such as Yamazaki Fumihiko (Harada).

I earn a billion yen a second.

[sonrocker]

Originally Posted by Unregistered

I lived off the money my parents send me, and my winnings at pachinko while waiting to find permanent employment. One day, I was recruited by a mysterious elderly gentleman by the name of Kozuka Taihei (Ueki). I later find out that the small, yet mild mannered Kozuka was once a legendary trader. Although clouded by the mystery surrounding Kozuka, I begin to work for him. In time, I find myself being mesmerized by the wave of numbers of the market. Sometime later, I learn Kozuka's real intentions...he wants to bankrupt one of the world's leading banks, Matsuba Bank. The two men of very different ages then try to go up against Matsuba and the elite bankers that work at the giant Matsuba such as Yamazaki Fumihiko (Harada).

I earn a billion yen a second.

YOU must be Shirato Norimichi!
.
.
.

Anw, my qns still stand leh

Think: When a position at front desk opens up, there is point of time where the team will search for recommendations (before they reach out to HR and headhunter). This is your Best chance, once they post the job out into the market, your chance is diminished significantly.

So, how do you get in at this time? Your networking efforts should have started a year ago (if not too late). Who makes the hiring decision at the front desk? MD. You think the MD will bother about a junior like me/you? No, so who should you have networked with? The AVPs, the VPs, the juniors etc. Not just sucking up. You need to have created the right impression.

What kind of person you think they are looking for? I'll stop at that. But you get the idea...

Originally Posted by Unregistered

Great work bro! U know the game being played around.
My burning qn is how did u manage to make the switch from BO to FO?
What were your specific behavioural patterns/strategies? (pl share in the same manner like u described in FO)

To be honest with you, I don't know for sure. (because I'm just AVP, I can only accurately tell you what I'm earning as AVP)

$200-400k for VP is just my guess, based on my current comp as AVP. I've heard alot of VPs posting higher and I've heard of some posting lower.

For BO? You just take the base, minus 20%, and assume 1-3 mths bonus.

Originally Posted by Unregistered

How about for BO? You mentioned you're aiming for VP and above (i.e. director if possible). So I presume typical annual salary for VP in normal times will range from $200-400k and director will be $300-500k?

[sonrocker]

Originally Posted by Unregistered

Think: When a position at front desk opens up, there is point of time where the team will search for recommendations (before they reach out to HR and headhunter). This is your Best chance, once they post the job out into the market, your chance is diminished significantly.

So, how do you get in at this time? Your networking efforts should have started a year ago (if not too late). Who makes the hiring decision at the front desk? MD. You think the MD will bother about a junior like me/you? No, so who should you have networked with? The AVPs, the VPs, the juniors etc. Not just sucking up. You need to have created the right impression.

What kind of person you think they are looking for? I'll stop at that. But you get the idea...

Thank you for your spot-on insights. I have no doubt you will get very far.

[bladez87]

Why do people want to transfer from back office to front office when they can apply straight for front office like branch sales officers, or mortgage officers, sme loans officers?