Banking - Back Office

Originally Posted by 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?

because they are "low grade" front office personnels where any tom, dick or harry can join. Most people who join are those that cannot make it to the "mainstream" front office like investment banker or traders. They are mostly from non-finance background, ex-model, ex-air-stewardess, ex-actor/actress etc, non cream of the crowd nor from prestigious Uni, non-degree holder also can. these are taking around 4k basic plus commission structure compared to say 10k basic for those mainstream. However, that does not mean they cannot earn, just like property agents (equally low barriers) who can earn big bucks, still some of them making it to 300 to 500k per annum but these are mostly old timers. For newbies, it is not likely as all good port had been taken and to play a price war in sales for the newly sophisticated rich is not easy. For the above, you do not need networking, good academic, nor relevant experience, just be presentable and apply local banks and you should get one

What's the career progression path for BO?

Originally Posted by Unregistered

What's the career progression path for BO?

Analyst in BO -> Associate in BO -> AVP in BO -> VP in BO

What's a Degree Holder Fresh Grad Pay in Back Office?

"What's a Degree Holder Fresh Grad Pay in Back Office?"

2.5-3k.

Originally Posted by Unregistered

Analyst in BO -> Associate in BO -> AVP in BO -> VP in BO

Pointless question and pointless answer.
Differs for banks.

Originally Posted by Unregistered

"What's a Degree Holder Fresh Grad Pay in Back Office?"

2.5-3k.

~5K for IBs.

hi. i'm currently in my final year in UOL banking and finance, en route to a 2nd upper class honors. I hope seniors in the industries can help answer my queries.

1. Is competition tough for pte degree holders like me to secure a BO position? Which banks should i target for minimal competition or rather which banks are less sought after?

2. In the event of a financial crisis, the front office will get the stick first ? correct me if i'm wrong.

2. I am also considering a career as a senior prison officer which they have offered a starting salary of 3.7K. jobscope will be generating reports, grading junior officers and there'll be rotation of job scope every 1-2 years.

Thank you guys in advance.

Originally Posted by asd

hi. i'm currently in my final year in UOL banking and finance, en route to a 2nd upper class honors. I hope seniors in the industries can help answer my queries.

1. Is competition tough for pte degree holders like me to secure a BO position? Which banks should i target for minimal competition or rather which banks are less sought after?

2. In the event of a financial crisis, the front office will get the stick first ? correct me if i'm wrong.

2. I am also considering a career as a senior prison officer which they have offered a starting salary of 3.7K. jobscope will be generating reports, grading junior officers and there'll be rotation of job scope every 1-2 years.

Thank you guys in advance.

1. BO relatively easy since starting quite low at only 3.6-4k

2. Depends on luck

3. Prison is a stable but brain dead job. You will max out your salary at ~8k which you will reach in 4-5 years in a bank

Consumer Banking Operations
Can anyone give me more information about this?