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Career prospect/advancement for Banking sales roles vs Banking "back end" roles

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Old 20-05-2013, 02:19 PM
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Default Career prospect/advancement for Banking sales roles vs Banking "back end" roles

I would like to know more abt the career advancement for the comparison between both roles.

From my understanding, banking sales role will have potential of high income if u are gd in sales. You stand a chance to build up your finance fast but of coz subject to individual capabilities. However, it gets very unhealthy esp in your personal life and a lot of sacrifices to be made for the long hours. Most imptly how many years can you chiong? When economies downturn, it get rather stressful about having target to meet and worse still if the commission is cut. What is the prospect like in long terms compare to backend roles.

But for back end roles, it might be a very low pay start. But from some thread, I understand tat due to fact of job hopping and if you are lucky, the pay increment seems to build up very fast. Taking eg as the job prospect for analyst > associate > AVP > VP ... If I am correct, within 7 -8 yrs, you should be looking at a AVP position for an average performer and pay should be at a median of 6-7k.

I am in a dielima to choose between a contract based of KYC roles in an german bank and Personal financial consultant role in stand chart.

KYC roles in a German bank
No doubt pay start a bit low ard 2.4k for backend job in bank, but my friend got convert into perm within a yr and drawing 3.7k. Now going for interview to another company for 4.3k. I believe his career advancement will hit 6k within 5 - 6 yrs time which I can see that there is prospect for this trade in long term. The working hrs seems fine too. 5.5 days job work from 9 to 6.

PFC roles in standard chartered
one of my friend is doing quite well in PFC.. drawing 8k a mth and she is consider an average player only. But what I worried abt sales roles is because of the prospect in long term. No doubt I am quite ok to chiong now. But start to worried if I wanted to settle down and planning to have kids. By then I might need a career switch. But when that happens, where can I switch to ?where I could have a better work life balance job but yet without having too much pay cut with my relevant sales experience.


So between this 2 job industries, I would like to know what prospect should I be looking at 8 - 10 yrs time. Which make a healthier and wiser choice? Need some constructive advices from you guys.

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Old 20-05-2013, 03:58 PM
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You make it sound as if plenty of banks are offering you various options for you to take your fancy and choose...

How many offers do you have on hand? How many positions are you in various advanced stage of interviews?

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Originally Posted by happyman View Post
I would like to know more abt the career advancement for the comparison between both roles.

From my understanding, banking sales role will have potential of high income if u are gd in sales. You stand a chance to build up your finance fast but of coz subject to individual capabilities. However, it gets very unhealthy esp in your personal life and a lot of sacrifices to be made for the long hours. Most imptly how many years can you chiong? When economies downturn, it get rather stressful about having target to meet and worse still if the commission is cut. What is the prospect like in long terms compare to backend roles.

But for back end roles, it might be a very low pay start. But from some thread, I understand tat due to fact of job hopping and if you are lucky, the pay increment seems to build up very fast. Taking eg as the job prospect for analyst > associate > AVP > VP ... If I am correct, within 7 -8 yrs, you should be looking at a AVP position for an average performer and pay should be at a median of 6-7k.

I am in a dielima to choose between a contract based of KYC roles in an german bank and Personal financial consultant role in stand chart.

KYC roles in a German bank
No doubt pay start a bit low ard 2.4k for backend job in bank, but my friend got convert into perm within a yr and drawing 3.7k. Now going for interview to another company for 4.3k. I believe his career advancement will hit 6k within 5 - 6 yrs time which I can see that there is prospect for this trade in long term. The working hrs seems fine too. 5.5 days job work from 9 to 6.

PFC roles in standard chartered
one of my friend is doing quite well in PFC.. drawing 8k a mth and she is consider an average player only. But what I worried abt sales roles is because of the prospect in long term. No doubt I am quite ok to chiong now. But start to worried if I wanted to settle down and planning to have kids. By then I might need a career switch. But when that happens, where can I switch to ?where I could have a better work life balance job but yet without having too much pay cut with my relevant sales experience.


So between this 2 job industries, I would like to know what prospect should I be looking at 8 - 10 yrs time. Which make a healthier and wiser choice? Need some constructive advices from you guys.


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Old 21-05-2013, 11:03 AM
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Taking eg as the job prospect for analyst > associate > AVP > VP ... If I am correct, within 7 -8 yrs, you should be looking at a AVP position for an average performer and pay should be at a median of 6-7k.
lol quite accurate, i started doing back end in 2005 starting pay 2K, now ~8.5 years at AVP rank drawing 6.3K. Working hours are wonderful 9 - 5.30 for 5 days with very little OT. In the 8.5 years I have worked in 5 other banks (so currently in 6th bank). Started off in standchart doing enterprise banking operations. After that moved to credit risk, corporate credit risk and all along those lines.

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Old 21-05-2013, 01:24 PM
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Are you sure your working timing are from 9am to 5.30pm my few friend working at DBS told me their offical timing is from 9am to 6.30pm unless u telling me u r in the BM role that you can knock off 1hour early everyday.
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Old 21-05-2013, 01:48 PM
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Are you sure your working timing are from 9am to 5.30pm my few friend working at DBS told me their offical timing is from 9am to 6.30pm unless u telling me u r in the BM role that you can knock off 1hour early everyday.
erm I don't recall saying I am in DBS, I am in a regional Asian bank. Our official working hours are 9 - 5.30 pm.

DBS working hours are currently Monday's to Thursday : 8.30 - 6.00 and Friday's 8.30 to 5.00. They just revised it about a year ago. Those starting at 9 would be 6.30 yep.


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Old 21-05-2013, 02:55 PM
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Dun get me wrong as if i got plenty of offers. lol. I have went to none interview yet coz I have not decide which industry I should be aiming for. And I do really find tat this first step is critical and impt as switching field such as (sales to backend or backend to sales) during urs mid career is definitely a pain in your ass lol. So I wish to pay more attention and emphasis on this headstart.

So I am juz laying all pros and cons and comparison of both industry, best if you guys could and also share urs salary, worklife, exp, amt of yrs to climb to current position etc.

Thanks for sharing, so do u have any year end bonus beside urs 6.3k salary? how is the work life for operations. I have friends telling me that it really depend on which department you are in... eg. payment work like hell lots of OT... risk management or KYC are the better ones? true? Sorry I am very green here and trying to find out more.. so tat I can narrow down which industry and banking field I should be aiming for.
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Old 21-05-2013, 03:29 PM
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Thanks for sharing, so do u have any year end bonus beside urs 6.3k salary? how is the work life for operations. I have friends telling me that it really depend on which department you are in... eg. payment work like hell lots of OT... risk management or KYC are the better ones? true? Sorry I am very green here and trying to find out more.. so tat I can narrow down which industry and banking field I should be aiming for.
Year end bonus about 2 months. Technically speaking I am not in operations, I am in middle office, credit risk management for corporate banking. er yeah so under risk management. Definitely better then operations like loan operations, trade processing, remittances etc.

Whether you have work life balance also depends on the bank tho. Most big names here like scb, citi, hsbc or the local banks sure damm busy cos of their size so their business volume is v heavy. Banks with smaller offices here will not be as busy but maybe bonuses also not so good etc.
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Old 21-05-2013, 03:34 PM
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Work life is ok, I read the Today paper first thing in the morning, own time own target do my own work, got time to come play forum here lol. Few weeks back I spent a while spamming starhub to order my galaxy s4 etc etc lol. No complains about work life here.

My previous place was much more siong tho, super niao management, go lunch >1 hour only tio complain, expect pple to work late and work load also much heavier. Usually work until 7 - 8 pm everyday. That one was a nihonjin bank and only my department worked late knn...
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Old 22-05-2013, 02:53 PM
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Year end bonus about 2 months. Technically speaking I am not in operations, I am in middle office, credit risk management for corporate banking. er yeah so under risk management. Definitely better then operations like loan operations, trade processing, remittances etc
To climb to AVP, is it very difficult to attain ? Wat is the responsibility and job nature like, stressful ? I do read that though pple might be in the same position, company, yr exp... the salary might varies a lot. Its seems very dependent on how u command urs pay at the starting of your career. Time and space play an impt role too.. Saw some associates in the forum are already drawing 6-7k.. is it true?

so other than risk management, which roles in backend roles is gd as well ( with work life balance haha) and always have a demand in the industry.

Sorry I seem to want the best side of the both world. Haha we are human afterall. Life is short, not everything is abt work work work, I do wish to have some personal time too to have time for family. But of coz, when I comes to work, I will definitely give my best shot. hope you guys dun penalize me for asking so much =P

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Work life is ok, I read the Today paper first thing in the morning, own time own target do my own work, got time to come play forum here lol. Few weeks back I spent a while spamming starhub to order my galaxy s4 etc etc lol. No complains about work life here.

My previous place was much more siong tho, super niao management, go lunch >1 hour only tio complain, expect pple to work late and work load also much heavier. Usually work until 7 - 8 pm everyday. That one was a nihonjin bank and only my department worked late knn...
What role and position are u in?


More of sharing pls, pertaining to my topic qns asked - choose between sales role or backend roles? For sales line sharing, hope u can share how you cope with work life balance and describe urs job nature and prospect. Thanks.
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Old 22-05-2013, 03:20 PM
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Quote:
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To climb to AVP, is it very difficult to attain ? Wat is the responsibility and job nature like, stressful ? I do read that though pple might be in the same position, company, yr exp... the salary might varies a lot. Its seems very dependent on how u command urs pay at the starting of your career. Time and space play an impt role too.. Saw some associates in the forum are already drawing 6-7k.. is it true?

so other than risk management, which roles in backend roles is gd as well ( with work life balance haha) and always have a demand in the industry.


What role and position are u in?
Climbing to AVP, not v difficult to attain. After certain number of years etc auto promote etc unless you are doing some really backend role with no prospects. Anyway rank is not important $$$ is more important. Also how much your position / rank pays you depends on your jobscope etc / last drawn pay etc.

Other good backend roles i can think of which are in demand are prolly compliance, finance and accounting (these generally have bad worklife balance tho), market risk/ops risk management.

I am currently a credit analyst, responsible for conducting annual review's of the bank's corporate exposures. I basically do the reviews and present them in the credit committee meeting to get approvals. I manage the review schedule myself, just need to ensure everything is reviewed by year end.

I have been in semi-sales line as a assistant RM in corporate banking. If you want a 'sales' job with good work life balance i would recommend being a RM in a japanese bank. No pressure to hit targets as the senior SVPs are the one who bear the brunt of the targets and you just 'assist' them etc. No stress at all and bonuses not bad in the range of 4 - 6 months.
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