Salary.sg Forums - Career prospect/advancement for Banking sales roles vs Banking "back end" roles

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Quote:

Originally Posted by Unregistered (Post 44004)

Still so little. I am a nuskin MLM blue diamond distributor, 26, started doing nuskin when graduated. Hit blue diamond status in 2 years, my passive income ~ US$500K every 3 months, annual US$20M. I no need to work, just once in a while attend those motivational MLM meetings to share my story and success. Free and easy lifestyle with plenty of $$.

Stinked of ******** everywhere

1) is sales really the best place to earn alot in the shortest time possible?

2) what can i do say, after 3 years, when i have decided not to do sales anymore?

3) is consumer sales (personal bankers, personal financial consultants) or sme sales able to earn more? which has better prospects?

Thanks for your contribution. Can share what's the bonus like these days in IB front office? For the various ranks.

Esp since there's a cap of 1 year (2yrs if shareholders approve) of bonuses for the European banks.

Quote:

Originally Posted by Unregistered (Post 50329)

Hi guys .. I was searching this forum for benchmarking against my current role as Equity Sales but sadly realized by industry is so small there is no benchmark

Anyway I will just contribute by saying that in roles like sales and trading there is a wide divergence in pay and we don't really look too much into base pay alone.

Also, base pay does not rise drastically as you move up the ranks. I am currently a director and my pay progression has probably stagnanted.

Bonus is the big swing factor in front office because performance is easily measurable. Good times 1-3 years bonus.. Bad times 0-6months..

Big swings... That's front office

which bank's personal banker has the best pay (in terms of comm and basic) ?

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Originally Posted by Unregistered (Post 51541)

which bank's personal banker has the best pay (in terms of comm and basic) ?

Among the local banks, I know DBS is the worst.

You got offered by DBS before?

Quote:

Originally Posted by Unregistered (Post 50329)

What does sales n trading do?equity sales sounds interesting. Up till now I still for understand the diff between trader n dealer. Does dealer do market making? For trader trade and if one keep making losses, they get fired? And broker should be the ones we call to make trades for us common folks and rich fellows.

I did before aml/ kyc and now I'm doing credit analyst for FI, feel free to shoot any qns regarding these roles.

Just wanna ask, cos I'm gonna do legal documentation for trade finance, can I jump to either compliance or trade finance in the future?

Quote:

Originally Posted by Unregistered (Post 54408)

s&t, as the name implied, do sales. if you read some wall street books s&t people are usually tasked with selling useless or undervalued products to clients over the phone. The more junk the product, the harder to sell, but the more commissions you get. if the client make losses, the company does not bear responsibility, but you will feel personally responsible.

trader and dealer sounds almost the same. they buy and sell the markets. dealer usually take on the risk of clients, say client wants to buy 1mil shares of AAPL, and dealer converts that risk to something else. Trader look after their own accounts, and dont have to deal with clients.

for traders, they have max losses daily. the company are willing to absorb some loss. for consistent losses, you're better off not being a trader anymore.

so, what is credit analysis about? determine credibility of counter-parties?