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28-08-2013, 09:56 AM
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Quote:
Originally Posted by Unregistered
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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Somehow i don't think so. Even a VP/Director investment banker makes only ~$700K p.a. Maybe MDs hit about $1M but that's during a good year.
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28-08-2013, 10:38 AM
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Quote:
Originally Posted by Unregistered
Somehow i don't think so. Even a VP/Director investment banker makes only ~$700K p.a. Maybe MDs hit about $1M but that's during a good year.
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Cannot like that compare. Management jobs will always have higher basic and cap bonus, frontline sales is mostly commission. The average manager will be higher paid than the average sales, but top sales expected to make more than top manager except for senior executives.
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28-08-2013, 03:19 PM
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Quote:
Originally Posted by Unregistered
Cannot like that compare. Management jobs will always have higher basic and cap bonus, frontline sales is mostly commission. The average manager will be higher paid than the average sales, but top sales expected to make more than top manager except for senior executives.
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i dunno, management seems to have lots more bonus..350%.. And these are considered corporate sales, M&A, corporate finance.
From investment banking guide:
Grade: Analyst/Associate: Base Salary £90k, bonus 50%
Grade: Vice President/Director: Base Salary £140k, bonus 150%
Grade: Managing Director: Base Salary £200k, bonus 350%
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28-08-2013, 03:40 PM
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Quote:
Originally Posted by Unregistered
i dunno, management seems to have lots more bonus..350%.. And these are considered corporate sales, M&A, corporate finance.
From investment banking guide:
Grade: Analyst/Associate: Base Salary £90k, bonus 50%
Grade: Vice President/Director: Base Salary £140k, bonus 150%
Grade: Managing Director: Base Salary £200k, bonus 350%
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The big difference is bonus is cap. As a manager not under frontline sales, the max you will ever get is 15-18 months so no matter what you will never hit >1 million
People on sales incentive / commission do not have this limit, thats why the best can get paid much higher. Average performer is another story
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28-08-2013, 04:44 PM
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Hi, sorry to ride on this thread. If you were to be given 2 roles, Auditor & Personal Banker in foreign bank. Which will you choose?
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28-08-2013, 07:45 PM
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is the OCBC Business Development Manager position a personal banker role for SME customers? whats the basic pay?
is being a personal banker for SME customers much harder than for mass consumer?
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28-08-2013, 11:58 PM
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Petition
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29-08-2013, 09:34 AM
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Quote:
Originally Posted by BB0254
is the OCBC Business Development Manager position a personal banker role for SME customers? whats the basic pay?
is being a personal banker for SME customers much harder than for mass consumer?
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Oh Business Development Manager is the same as Business Financial Manager lol, aka sales manager, or SME hunter.
Junior basic maybe 2.5k - 3.5k ba + comm.
I think being a SME banker for SME customers is easier than mass consumer due to:
1) Mass consumer PB you are asking people to part with their hard earned money to invest in your bank's likely shitty products or savings account.
2) SME banker you are giving money to people to do their business not take their money. Well you take their money but usually in the form of interest and some fees.
3) All companies need some form of financing to bridge their working capital requirements, leverage their business or purely for international trade requirements like some suppliers require LCs, construction projects require performance bond, bankers' guarantee etc
I also think you learn more transferable skills in SME banking, financial statement analysis, industry analysis. Next time can move to credit or corporate banking or cash management or product.
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02-09-2013, 07:04 PM
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what does the banks call their personal banker for sme customers? cant seem to find the positions on their websites....
also for pb, seems like only citibank and uob call it personal banker. what does the other banks name their personal banker?
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