I wish to hear more about this as well, preferably from those who has been in similar 'dilemma' before. I'm tired of taking just a 'fixed' pay but yet, I'm not sure about the prospects of a banking sales career.
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if im not wrong for personal banker, they have a monthly sales target to meet?
is it still the same once they move on to higher positions such as RMs or private bankers? |
Yes there are targets to hit.
If u did not hit, u darw basic only. N u will get invited by ur mgr for a chit chat session. I been with uob as a pba previously. Seriously if u can't persuade pple well, don't think too much of joining sales. Hard work don't turn into sales. Sweet talk does. Cos everyone is selling the same product. I waste 6 mths of my life earning much lesser if u divided ur time spent n effort put in compare to backend True that u get promote faster n Earn more than backend, but how many top sales u think there is. Not many I will say. Say wrong thing to customer become mis-sell.. Too complain to mas n there goes ur iron rice bowl. Currently Im doing back end @ another local bank n i think it's more relax though I work till 7pm daily.. At least I find that I have a life.. Just my 2 cents |
Hi,
Chance upon this thread and would like to enquire - I am currently on a contract analyst role with a foreign bank's AML dept. Mostly doing transaction surveillance related work. I recently just went for an interview with a french bank and they offer me a KYC position (fixed term contract) , base is probably 3~3.2 , details not confirm yet. But there are no bonuses at all coz its a fixed term contract... I dont foresee them converting me becoz there r other contract staffs tat r more senior than me... Should i make the jump ? Pay increment is about 500+... But from what i gathered KYC is mainly processing the documents passed down by the front line guys. Of coz we need to take steps to ascertain the credibility of those documents by doing some brief kyc stuffs in line of the AML regulations. My main interest lies with AML compliance, will this role help me make the switch to a perm AML position next time? Any feedback is very much appreciated. |
hi can anyone share the differences and comparisons between a personal banker for mass consumer market VS a personal banker for SMEs, other than the profiles of customers of cos. are they on the same payscale such as basic and comms across the banks?
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SME sales managers are the one more focused on getting new accounts which are then passed on to the relationship managers to manage / farm. |
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im more or less quite well versed in what a personal banker do but cant seem to find much info regarding SME personal banker. how do they get new customers? is it fair to say that on the whole, it will be more challenging than a personal banker (mass consumer market)? |
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Generally no need CMFAS unless you want to advise the SME towkay on investments or the company wants to do a IPO / M&A or buy debt securities. SME bankers get new customers by cold calling companies, going to industrial estates like Tuas, Ubi, Loyang, Paya Lebar and go door to door to the companies, getting referral from branches, getting referral from existing SME customers. Most banks also split their SME banking into different segments. The very small business segment, medium enterprises for slightly bigger companies, another segment for even bigger-listed companies and global corporate banking for large MNCs, GLS and local MNCs. |
It is possible for top performing commercial bankers, those that focus on SME banking to exceed $1million total salary. The word around UOB where I work is that 7 individuals hit that amount last year.
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