Management Trainee in banking field

[ymwon20]

Hi, im just graduated from uni and currently seeking employment in banking field. I realized that many banks(ie citi, standard chartered, ocbc) are offering graduate programme/ fast track programme etc.

Is it worth to apply for MT as we get to work + learn and get paid at the same time? and I wonder how much is the pay for these kind of programme?

Thanks.

Originally Posted by ymwon20

Hi, im just graduated from uni and currently seeking employment in banking field. I realized that many banks(ie citi, standard chartered, ocbc) are offering graduate programme/ fast track programme etc.

Is it worth to apply for MT as we get to work + learn and get paid at the same time? and I wonder how much is the pay for these kind of programme?

Thanks.

You have some misunderstanding. You sound as if you are the one who should be thinking whether to accept their program. In real life, it's more like you begging them to accept you and they take their time to choose the best 5 among 2,000 applicants.

Originally Posted by ymwon20

Hi, im just graduated from uni and currently seeking employment in banking field. I realized that many banks(ie citi, standard chartered, ocbc) are offering graduate programme/ fast track programme etc.

Is it worth to apply for MT as we get to work + learn and get paid at the same time? and I wonder how much is the pay for these kind of programme?

Thanks.

It it worth? Lol, you should be thinking whether you are worthy enough to be even considered for first round of interview. Just trying to share with you the harsh reality. Banking sector is even tougher than most of the industries out there. There isn't work-life balance for most of the time, until you manage to make it happen. Thus, choose an industry that you prefer rather than applying for bank programmes and be jobless for a long period of time. If you don't believe, go research more. You are a degree holder, think and act like one. No offence. (:

Originally Posted by Unregistered

You have some misunderstanding. You sound as if you are the one who should be thinking whether to accept their program. In real life, it's more like you begging them to accept you and they take their time to choose the best 5 among 2,000 applicants.

Ok it's not easy to get in. We get your point, and there is no need to be an arrogant prick about it. Anyway you hv not answered his question.

Anyways, back to the question.

Diff banks have diff pay scales. If you are talking about the management associate programmes, believe local banks are paying about $3.5k to $4k. Foreign houses like citi and HSBC may be at c $4.5 to $5k. Again there are diff programmes, so u need to do your own research. Back office ops may pay less. Front office ib or cap mkt will pay more (ie db pays c $10k for ib analysts).

The better programmes are usually not easy to get in and the typical profile of a successful candidate will be min 2nd upper (often first), strong in some cca (sports captain, queen scout, national team), at least 3 to 5 high quality internships and of course good interviewing skills.

So go in w your eyes open. And if you hv any contacts at all within the industry, make full use of them and their contacts. The back door way is probably easier, if you hv such access.

Originally Posted by Unregistered

Ok it's not easy to get in. We get your point, and there is no need to be an arrogant prick about it. Anyway you hv not answered his question.

Anyways, back to the question.

Diff banks have diff pay scales. If you are talking about the management associate programmes, believe local banks are paying about $3.5k to $4k. Foreign houses like citi and HSBC may be at c $4.5 to $5k. Again there are diff programmes, so u need to do your own research. Back office ops may pay less. Front office ib or cap mkt will pay more (ie db pays c $10k for ib analysts).

The better programmes are usually not easy to get in and the typical profile of a successful candidate will be min 2nd upper (often first), strong in some cca (sports captain, queen scout, national team), at least 3 to 5 high quality internships and of course good interviewing skills.

So go in w your eyes open. And if you hv any contacts at all within the industry, make full use of them and their contacts. The back door way is probably easier, if you hv such access.

It's better to be straight to the point to correct his fundamental misunderstanding then waste time talking about irrelevant stuff like pay when it's quite clear he is confusing MA programe with an industrial attachment.

[ymwon20]

Originally Posted by Unregistered

It it worth? Lol, you should be thinking whether you are worthy enough to be even considered for first round of interview. Just trying to share with you the harsh reality. Banking sector is even tougher than most of the industries out there. There isn't work-life balance for most of the time, until you manage to make it happen. Thus, choose an industry that you prefer rather than applying for bank programmes and be jobless for a long period of time. If you don't believe, go research more. You are a degree holder, think and act like one. No offence. (:

yea before i enrolled into uni i already know the fact that banking sector is not easy. Anyway i will try my best in everything, thanks for your info

[ymwon20]

Originally Posted by Unregistered

Ok it's not easy to get in. We get your point, and there is no need to be an arrogant prick about it. Anyway you hv not answered his question.

Anyways, back to the question.

Diff banks have diff pay scales. If you are talking about the management associate programmes, believe local banks are paying about $3.5k to $4k. Foreign houses like citi and HSBC may be at c $4.5 to $5k. Again there are diff programmes, so u need to do your own research. Back office ops may pay less. Front office ib or cap mkt will pay more (ie db pays c $10k for ib analysts).

The better programmes are usually not easy to get in and the typical profile of a successful candidate will be min 2nd upper (often first), strong in some cca (sports captain, queen scout, national team), at least 3 to 5 high quality internships and of course good interviewing skills.

So go in w your eyes open. And if you hv any contacts at all within the industry, make full use of them and their contacts. The back door way is probably easier, if you hv such access.

Originally Posted by Unregistered

It's better to be straight to the point to correct his fundamental misunderstanding then waste time talking about irrelevant stuff like pay when it's quite clear he is confusing MA programe with an industrial attachment.

Alright, I'm really thankful for all the information. At first I was really confused about this programme, I just wanted to know more and now I've a clearer picture of it. anyway thanks for correcting me

Will all Management trainees be successful at the end of the program and fast-tracked to senior roles? Or has any chances that the MA be condemned due to poor performance?

Originally Posted by Unregistered

Will all Management trainees be successful at the end of the program and fast-tracked to senior roles? Or has any chances that the MA be condemned due to poor performance?

whether mt or not, a regular employee or a clerk, whoever can produce results get to be promoted. in whatever company one works in, he who perform poorly will be asked for his resignation.

Anyway, MA executives always have a slim slim chance of hitting the CEO rank. Board of directors usually choose within their ranks before searching for outsiders.

TS, not sure if you're aware, most of the banks have closed out on their MA / grad development program hiring for the 2014 intake already. Offers have been made and accepted by this point.