AML/Compliance/KYC professionals come in!

Any one know how the culture in ifast and the salary for a fresh grad compliance executive?

I'm currently in a perm role at an asian bank.. Title is compliance officer but more like doing admin coordination work..

I received a 1 year contract kyc offer from a Top US IB WM giving me 30% increase in base pay..(Sal >5k, though of course my benefits are drastically reduced)..

I am tempted to accept the offer due to the high base pay, brand name, and of course I will get to learn more technical stuff in this BAU role.

Would like to ask nx time if I find a perm job, is it correct to say that the higher base pay from the contract job will help me alot in getting higher pay?

does anyone know what the market rate for a central compliance / compliance generalist (non-AML) role in a bank would be for 4-5 years of relevant experience?

there seems to be much more information available for aml roles, and not so much on non-aml roles.

Originally Posted by Unregistered

I'm currently in a perm role at an asian bank.. Title is compliance officer but more like doing admin coordination work..

I received a 1 year contract kyc offer from a Top US IB WM giving me 30% increase in base pay..(Sal >5k, though of course my benefits are drastically reduced)..

I am tempted to accept the offer due to the high base pay, brand name, and of course I will get to learn more technical stuff in this BAU role.

Would like to ask nx time if I find a perm job, is it correct to say that the higher base pay from the contract job will help me alot in getting higher pay?

Depends on budget. Pay is higher in contract due to the reduced benefits.

Just accept the offer if you think you will have more learning.

I have seen contract roles with 8 to 9K.

Originally Posted by Unregistered

Depends on budget. Pay is higher in contract due to the reduced benefits.

Just accept the offer if you think you will have more learning.

I have seen contract roles with 8 to 9K.

It depends on the experience and seniority. Contract role can be 4k to 10k.

Originally Posted by Unregistered

Dear all,

I am a 29 year old. I just left my previous job of 4.5k salary to pursue a career back in the Banking (related to my degree) , fully knowing that I will suffer a huge pay cut.

I have great interest in AML. I have been spamming close to 100 resumes (AML, Compliance, KYC) to banks/ corporations for perm roles/ contract roles for 1 month.

None got back. Im really demoralised.

Can any professionals advise, which roles in the bank are easier for me to get a role in the middle office/ back office? I have no interest in sales (RM)

I am willing to fetch a pay of 2.5k

My background: 3 years of irrelevant work experience
Degree: Banking and Finance private uni

Thanks, please help a lost sheep out.

only 4.5k after 3 yrs? fresh grad alr getting this amt

Originally Posted by Unregistered

only 4.5k after 3 yrs? fresh grad alr getting this amt

So many entitled pricks here. 4.5k is not bad for 3 years exp. There are still a lot of my friends from local uni earning below that. Keep in mind this is entry level compliance role, I dont think it requires advanced degree nor specific skills to do the work. Hence 4.5k is justified

Most people are just trolling here. Grab any local uni grad on the street and chances are 50% of them are probably earning lower than the median GES.

People tend to only respond when they are earning a high starting and some will even inflate their salary or round up when they submit their responses.

I’m currently drawing around $4200 in a regional bank doing perm CDD/KYC work.

Abit of my background, I have stayed with this bank for more than 6 years, armed with local uni degree (hons) cert in Mathematics.

I started looking out for jobs recently as my pay has been quite stagnant since 2019.

After going for quite a few interviews, I settled for a 2-year contract offer from a foreign CIB as a KYC Analyst. They are giving me $5100. They told me that this’s a long term contract and after the contract has ended, many staff usually just renew the contract unless they’re really CMI. It was even stated in the offer letter that “At the end of the contract, it will be renewable given the mutual agreement between the employer and the staff.” Notice period is 2 months if I want to resign.

Actually, that bank is my second choice as my aspiration is to join JPMC. However, the competition at JPMC is really stiff and I cannot even get past the first interview even when my friend had referred me for the role.

A few questions for the bros here,

1) Based on my description above, do you think that I’ve made a right choice in the move? From perm to contract.

2) Should I just settle for this bank and work hard to try to transfer to their perm position? Or should I just continue to try JPMC? Honestly, I’m really disheartened with JPMC even though I’ve put in so much effort to prepare for the interview and make use of all my connections to get the interview opportunity.

Originally Posted by Unregistered

I’m currently drawing around $4200 in a regional bank doing perm CDD/KYC work.

Abit of my background, I have stayed with this bank for more than 6 years, armed with local uni degree (hons) cert in Mathematics.

I started looking out for jobs recently as my pay has been quite stagnant since 2019.

After going for quite a few interviews, I settled for a 2-year contract offer from a foreign CIB as a KYC Analyst. They are giving me $5100. They told me that this’s a long term contract and after the contract has ended, many staff usually just renew the contract unless they’re really CMI. It was even stated in the offer letter that “At the end of the contract, it will be renewable given the mutual agreement between the employer and the staff.” Notice period is 2 months if I want to resign.

Actually, that bank is my second choice as my aspiration is to join JPMC. However, the competition at JPMC is really stiff and I cannot even get past the first interview even when my friend had referred me for the role.

A few questions for the bros here,

1) Based on my description above, do you think that I’ve made a right choice in the move? From perm to contract.

2) Should I just settle for this bank and work hard to try to transfer to their perm position? Or should I just continue to try JPMC? Honestly, I’m really disheartened with JPMC even though I’ve put in so much effort to prepare for the interview and make use of all my connections to get the interview opportunity.

If you have no commitment(no property,car,family to support), just go for the contract job to maximise your earning power when you are young, whats there to think? I myself have also just moved from perm to contract.