good troll lmao 3 years of relevant experience in local bank probably just command you 60-70k at best.

Continue being salty that compliance roles pay much higher than FO.

3 years local bank exp only where got 120k lmao who are you kidding bruh. 6 years in foreign banks also just narrowly reaching this :) anybody actually in compliance would know. Don’t be a salty ARM? Anyways, it’s true that not all FO are glamarous. E.g. PB space - only a fraction of headcount in FO are actually the RMs themselves. ARMs are mostly stuck drawing max 120-140k p.a at their peak (at least 10 years exp)

Compliance = Ops = HR = BO

i can agree with the OP that compliance roles are well paid. i'm 4 years in american bank and got 150k last year. compliance is a very attractive place to be in.

so IB in local bank or Compliance in American Bank better?

This is obvious.

Compliance in Malaysian bank >>> IB in American bank.

This guy got called out for his dumb FO takes and now he's desperately overcompensating.

So im a fresh grad with a degree in economics, coming from a different industry (diploma is Hospitality related) and i will like to do compliance in the banking sector. Which Cert is better? ICA Certificate in AML or ACAMS Certified in Transaction Monitoring.
In the future i will probably want to do something more towards investigation in nature.

Without any compliance experience, ICA Cert in AML will definitely be a better choice as it open you up to a variety of compliance roles. Transaction monitoring is too niche for a fresh grad.

Anyone knows how much can 6 yr of exp in regulatory compliance be worth in local banks? conscious that it'll be lower than bulge brackets but curious abt an approximate range.

According to RobertHalf salary benchmark
s://.roberthalf.com.sg/salary-guide/details/regulatory-compliance-financial-crime-compliance-manager-avp/singapore

6 yrs of experience should put you in the Manager / AVP level.
25th percentile: 87k
50th percentile: 105k
75th percentile: 132k

I would say it depends whether you have hopped around to maximise your pay during your 6 years, what your starting salary are, etc. As you mentioned, local banks are not known to be good paymasters too so maybe give another 10-15% haircut?

Thanks for this. Managed to get in between the 50 and 75th percentile. Quite contented with the offer.

well done, that is very impressive !

4 years experience, drawing $8.5k p.m. gross. How is this relative to the market? Am I over or underpaid?

overpaid.. 4yoe is normally around 5-6k max

If OP is from an american bank or top tier bank, would it be reasonable? Maybe they are better paymasters and able to pay 8.5 for their 4-year associate/avp?

4 years in aml/kyc at a US bank would be an associate position. that experience can't land you a VP/managerial role. associate position you can expect around 6k.

associate position should be more than just 6k esp in better banks which are fairly good paymasters, somewhere between 6k - 10k could even be plausible?

for 1lod aml/kyc, 6k sounds fair given that such roles do not require much skills and are currently heavily outsourced to low cost providers

for a compliance role, good estimate will be 8k if you're not leading a team.

Reading the comments, it seems like my salary expectations are too high...
Working for a foreign bank in Europe in Transaction Monitoring with 2yoe
(total 7yoe - 5 years as a SWE - CS degree)
Drawing currently around 9k SGD if I use the current exchange rate.
I shouldn't apply for AML/TM roles if I want a pay raise, right?

9k SGD before or after tax?

Move into pure compliance role to earn more.

What is pure compliance?

Financial crime compliance.

Is “AML/TM” referred by the earlier OP not considered Financial Crime Compliance? Otherwise, could you provide specific examples?

I've 6 years of total experience in Compliance across retail and corp banking. Currently drawing around 7.5k p.m. Am I underpaid for my exp, or its avg? Thanks!

Bumpp bumppp

How is IT audit like nowadays? Heard it's not a very popular role despite the decent pay as it's deadend and boring.

Can’t expect much from an audit role, naturally they’d be boring. But should pay pretty well especially when it concerns IT.

Hello dear compliance folks and peers, I graduated in 2017 and have close to 6 years of working experience in the compliance space till date in 2 large banks.

Currently drawing ~ $7.5k p.m. Is this reasonable for my years of experience? If not, what is a good ballpark figure that I should be expecting?

Thank you

Came here for a similar query. I graduated in 2017 too and currently drawing 7.8k. Been looking around these few months and was recently offered a role at 9.3k. Was wondering if this offer was in line with current compliance market averages.

Although there are many variables such as the type of compliance department you are in (compliance advisory or compliance operations), local or int bank etc., 8-10k seems about right. Bonus should be 20-25% on avg.

hello folks. hope to seek some advice on how to kickstart my compliance journey, current doing audit and graduated from a local university 1 year back — with pretty not so fantastic grades :/.

salary is one of my priority but I’ve heard it’s difficult to get into foreign banks.

I aim to leave by EOY and would be drawing abt 4k/mnth.

Also, is compliance a fulfilling career to pursue? What sort of roles should I go for (KYC/AML.. etc)

thanks a lot! ☺️

Thanks for the insight! Do you think there is a distinct difference in pay for different teams / LoD, for e.g. a KYC/onboarding/1.5 role vs a FCC/Reg Com/2.0 role?

By compliance, presuming you mean 2nd LoD roles such as compliance testing / assurance; reg compliance; aml reviews of high risk clients, etc? Such roles are very competitve and hard to come by. You could increase your chances by exploring relevant 1.5 roles such as KYC ops and hopefully do well enough to find a compliance placement internally. Audit background is highly sought after for testing / assurance roles though, you may consider!

Hi guys, I would like to move to an AML position, unfortunately my current work experience (public sector) is not relevant. Would like to ask if no experience + ICA Cert in AML + CAMS is good enough to get associate level. Thanks!

Frankly speaking, certificates may help in showing your interest in the field. However, it largely depends on the role you’re applying for, how the managers/interviewers feel about you, your transferrable skillset and attitude etc. Unless you have technical AML knowledge and actual working contributions in that field, do be prepared to settle for even a junior role.

Why have you decided to move to AML? Why specifically AML?

Felt that the public sector just wasnt a right fit. Would like to try the finance industry and thought that other roles such as banking ops would be difficult to get a foot in as there are not really much certs that can help jump start, unlike AML.

Would eventually want to get into FCC though.