Career Choice: Consumer Banking or Business Banking?

Originally Posted by Unregistered

Hi all I have been offered a client acquisition role at a bank. From my understanding, the role is to acquire priority clients and hand them off to the RMs. Anybody has experience in this role? And what are the likely career prospects? TIA

Low end feeder job, most of the incentive goes to the RM and small portion go to you. This kind of role even if you do well quarterly incentive wont exceed 50k one.

Originally Posted by Unregistered

Low end feeder job, most of the incentive goes to the RM and small portion go to you. This kind of role even if you do well quarterly incentive wont exceed 50k one.

Thanks for your reply, really appreciate it. Have you experience this role before? Or you have frens tat gave their feedback?

Originally Posted by Unregistered

Hi all I have been offered a client acquisition role at a bank. From my understanding, the role is to acquire priority clients and hand them off to the RMs. Anybody has experience in this role? And what are the likely career prospects? TIA

pay is ok, not too bad but not great. you're basically like a 'hunter' for the consumer banking side. sometimes, if theres an affluent offshore client, they might fly you overseas to meet them (but not often, only once in a while). thing is, you really learn nothing much - you are basically just acquiring people and thats it. their needs and all that will be handled by a RM. at least if you start off as a personal banker though also entry role, you at least start learning about products. for client acquisition, actually if you are really good, you can earn quite alot of comm though. is it for UOB?

Originally Posted by Unregistered

Progression for sales usually just sales mgr then if you do well later on team leader. Some after many years as team leader maybe go join credit or become a RM to do servicing.


ya, i started in business banking operations with low pay and bonus and sucky hours. Then i moved to business banking credit as a analyst still with quite suck pay. Not much increment for internal transfer. Was not very keen to do sales, very high targets, every week got tekan sales meeting by the sales head etc v stress lol.

After about 3 years there I moved to another bank as a assistant corporate RM. No sales involved, just do day to day servicing of large singapore MNCs (no longer business banking heh). Pay there was much better, bonus also quite good. After a few years I didn't want to do day to day servicing anymore and went back to do credit. Changed a few other banks since.

Current place is not bad. Small Singapore branch of a asian bank, 5.30 can leave office, hardly need to OT and pay / bonus is decent.

whats the progression after team lead? team lead still considered junior right? as they progress on, do they still get comm?

oh thought u said u were a consumer banker? or is it two different person here, lol all no username. which bank were u in? local or foreign bank?

the assistant corporate RM no sales? thought RM still need to do sales. day to day servicing is roughly do what?

wah 5.30 is damn early. thought banks no work-life balance.
paiseh realise ask a lot of qns lol

Originally Posted by Unregistered

pay is ok, not too bad but not great. you're basically like a 'hunter' for the consumer banking side. sometimes, if theres an affluent offshore client, they might fly you overseas to meet them (but not often, only once in a while). thing is, you really learn nothing much - you are basically just acquiring people and thats it. their needs and all that will be handled by a RM. at least if you start off as a personal banker though also entry role, you at least start learning about products. for client acquisition, actually if you are really good, you can earn quite alot of comm though. is it for UOB?

Its for HSBC Premier,were you from UOB?

Originally Posted by Unregistered

Its for HSBC Premier,were you from UOB?

no im not from UOB, but hv some friends doing client acquisition. if its me, i will go for HSBC than UOB. so are you interested?

Originally Posted by Unregistered

no im not from UOB, but hv some friends doing client acquisition. if its me, i will go for HSBC than UOB. so are you interested?

I have no banking background and this seems like a good opportunity, so yes I will give it serious consideration.

Besides HSBC and UOB, does other banks have this role?

Originally Posted by Unregistered

whats the progression after team lead? team lead still considered junior right? as they progress on, do they still get comm?

oh thought u said u were a consumer banker? or is it two different person here, lol all no username. which bank were u in? local or foreign bank?

the assistant corporate RM no sales? thought RM still need to do sales. day to day servicing is roughly do what?

wah 5.30 is damn early. thought banks no work-life balance.
paiseh realise ask a lot of qns lol

Must be diff person lol. I worked in SCB, local bank, jap bank, middle east bank. SCB was in business banking many years ago.

Nope assistant corporate RM in jap bank no sales. Sales falls onto the responsibility of the team lead and its team target. Anyway they dun do very active sales, all they do is business from mainly existing clients. Day to day servicing ah, morning quote interest rates to MNCs, do all the rollovers for fixed deposits due or coming due, rollover loans for those due that day/next day. Place new fixed deposits or raise new loan tickets, account opening, KYC, solve problems (eg: remittance amount wrong or urgent remittance etc), do credit analysis for annual reviews, spread financial statements into the bank systems. Go home at 6+ usually before 630 lol and get 6 months bonus.

Business banking team leads usually just stuck at team lead lo. Since there are so many teams each team got 1 lead. Career progression still team lead but maybe your rank higher lo VP, SVP team lead. Next time they sian of sales team lead maybe go to be RM team lead or join credit or product do something related but different. Or if the business banking overall boss change maybe they can be head of business banking but rare only 1 position.

Hi, anyone here have any idea regarding the position of 'Business Banking Manager (Account Opening) from OCBC? This position seems to be listing on their website every month, high turnover, bad pay etc or really require alot of people?

From the title, will it be right to say its just getting people to open business accounts with the bank and not in touch with the products? Not a good learning ground in this case right?

Originally Posted by Unregistered

Hi, anyone here have any idea regarding the position of 'Business Banking Manager (Account Opening) from OCBC? This position seems to be listing on their website every month, high turnover, bad pay etc or really require alot of people?

From the title, will it be right to say its just getting people to open business accounts with the bank and not in touch with the products? Not a good learning ground in this case right?

Read the job description posted on the website. It gives a very good description of the role.