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20-08-2016, 09:33 AM
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Quote:
Originally Posted by Unregistered
I see..how much did you start with?
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UOL Grad
My 3 years of KYC career as follows:
6 Months Contract SG Bank $1900
3 Months Contract EU Bank $2500
3 Months Contract JP Bank $2600
3 Months Contract Same JP Bank Another Department $2600
3 Months Contract Same JP Bank Another Department $2600
Converted to Perm in same JP Bank $3000
1 Year as Perm in same JP Bank $3100
Currently 1 year 9 Months as Perm in Current Position.
Total Banking Experience in KYC 3 Years 3 Months.
Total Period as a contract 1 Years 6 Months.
Total Period as a perm 1 Year 9 Months.
Total Period in current bank including contract days 2 Years 6 Months.
Currently drawing $3100 for doing KYC for RM full time.
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20-08-2016, 10:36 AM
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Quote:
Originally Posted by Unregistered
UOL Grad
My 3 years of KYC career as follows:
6 Months Contract SG Bank $1900
3 Months Contract EU Bank $2500
3 Months Contract JP Bank $2600
3 Months Contract Same JP Bank Another Department $2600
3 Months Contract Same JP Bank Another Department $2600
Converted to Perm in same JP Bank $3000
1 Year as Perm in same JP Bank $3100
Currently 1 year 9 Months as Perm in Current Position.
Total Banking Experience in KYC 3 Years 3 Months.
Total Period as a contract 1 Years 6 Months.
Total Period as a perm 1 Year 9 Months.
Total Period in current bank including contract days 2 Years 6 Months.
Currently drawing $3100 for doing KYC for RM full time.
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Ok thanks for this information. The main thing is you accepted a lousy package when you Ist started. You should not have accepted a 1900 offer which is not for grads. You could have gotten a perm role. Dont ever go into contract again. And you hop too much at the initial stage and without little experience ( 3 month contracts in a yr) will not do you good. My advice to you is go for a proper perm role in a good company and build on your skills. I was from SIM as well started with retail banking. After 2.5 yrs I went to KYC. So total I have been working for 4.5 yrs. Greatest regret was when I got into 9 mths KYC contract after my retail banking role. After than I immediately went to a perm role. Contract just dont get the deal. Some go for contract for huge base increment (this is a trap). Ultimately it can play against you. As a perm you are a proper headcount to the company. Contracts are not.
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20-08-2016, 12:25 PM
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Quote:
Originally Posted by Unregistered
Ok thanks for this information. The main thing is you accepted a lousy package when you Ist started. You should not have accepted a 1900 offer which is not for grads. You could have gotten a perm role. Dont ever go into contract again. And you hop too much at the initial stage and without little experience ( 3 month contracts in a yr) will not do you good. My advice to you is go for a proper perm role in a good company and build on your skills. I was from SIM as well started with retail banking. After 2.5 yrs I went to KYC. So total I have been working for 4.5 yrs. Greatest regret was when I got into 9 mths KYC contract after my retail banking role. After than I immediately went to a perm role. Contract just dont get the deal. Some go for contract for huge base increment (this is a trap). Ultimately it can play against you. As a perm you are a proper headcount to the company. Contracts are not.
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Unfortunately, things didn't work that way for me.
I hop 5x contract for 1.5 years spamming on the side line until i finally get converted to perm after contract in 3 different dept in same JP Bank clearing KYC backlogs.
Now i am stuck in a kyc role with no progression helping rm to clear their kyc saikang.
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20-08-2016, 04:09 PM
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One off topic qn, any one noe if increment and bonus r usually received in the same mth? Or do more banks give bonus perhaps in Dec den increment in some other mth (not same mth give one)? Thx guys
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20-08-2016, 05:02 PM
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Compliance Manager
Trafigura
://.linkedin.com/jobs/view/190450169
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20-08-2016, 06:15 PM
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Quote:
Originally Posted by Unregistered
Unfortunately, things didn't work that way for me.
I hop 5x contract for 1.5 years spamming on the side line until i finally get converted to perm after contract in 3 different dept in same JP Bank clearing KYC backlogs.
Now i am stuck in a kyc role with no progression helping rm to clear their kyc saikang.
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how old are you?
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22-08-2016, 10:07 AM
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If I had to venture an educated guess, you are probably in B**U, am I right?
This bank is well known for lowballing employees. It is high time that you look out for other opportunities.
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22-08-2016, 11:41 AM
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Quote:
Originally Posted by Unregistered
If I had to venture an educated guess, you are probably in B**U, am I right?
This bank is well known for lowballing employees. It is high time that you look out for other opportunities.
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BTMU aka MUFJ?
MUFJ monthly salary is lower than others, but they pay relatively stable bonus of 6-8 months which is higher than other banks, so the total package is about the same.
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22-08-2016, 12:18 PM
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Quote:
Originally Posted by Unregistered
thanks for advice.
that's what i am thinking too.
going to take CAMS exam at the end of the month.
if need be i willing to take pay or contract role to go into aml.
after all my pay miserable 3k only.
can 2.5k aml contract role i also happy liao.
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AML is regarded as a cost function that banks are looking to isolate and monitor (a.k.a reduce head count locally, outsource to cheaper countries)
You'll be taking a big risk giving up your 3k perm job for a 2.5k contract AML job, which in another 2.5 to 3 years there is a high chance you'll still be a contract staff earnig 3k to 3.3k?
This means that for your 5.5 to 6 years of experience you will be earning 3k+ only. This is an overrated industry that many naive fresh grads think is attractive. May seriously want to reconsider this industry altogether.
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22-08-2016, 02:32 PM
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Quote:
Originally Posted by Unregistered
AML is regarded as a cost function that banks are looking to isolate and monitor (a.k.a reduce head count locally, outsource to cheaper countries)
You'll be taking a big risk giving up your 3k perm job for a 2.5k contract AML job, which in another 2.5 to 3 years there is a high chance you'll still be a contract staff earnig 3k to 3.3k?
This means that for your 5.5 to 6 years of experience you will be earning 3k+ only. This is an overrated industry that many naive fresh grads think is attractive. May seriously want to reconsider this industry altogether.
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Oh no I thought AML is safe... Sigh headache
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