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-   -   AML/Compliance/KYC professionals come in! (https://forums.salary.sg/income-jobs/3243-aml-compliance-kyc-professionals-come.html)

Unregistered 18-02-2017 12:32 PM

Hi all,

Just wanna seek some opinions. True blue singapore son here.

I have about total 3.5years of working exp under my belt since graduating (all within the space of compliance with focus on aml/cft)

currently drawing a monthly basic of 6000++ with annual increment of 3-5% on avg. I'm in my late 20s and am just wondering how long do i need to clock to break the 10k ceiling ?

From my discussions with recruiters / peers in the same industry, commonly people in this field would need at least 6.5 - 7 years to reach the 8k - 9k mark, and >9years to break the 10k ceiling.

Of course, the above is based on the assumption i'm an average - above average performer, not some superman like some thread posters here. Are the numbers accurate or near-accurate?

Unregistered 18-02-2017 03:46 PM

Quote:

Originally Posted by Unregistered (Post 94715)
Hi all,

Just wanna seek some opinions. True blue singapore son here.

I have about total 3.5years of working exp under my belt since graduating (all within the space of compliance with focus on aml/cft)

currently drawing a monthly basic of 6000++ with annual increment of 3-5% on avg. I'm in my late 20s and am just wondering how long do i need to clock to break the 10k ceiling ?

From my discussions with recruiters / peers in the same industry, commonly people in this field would need at least 6.5 - 7 years to reach the 8k - 9k mark, and >9years to break the 10k ceiling.

Of course, the above is based on the assumption i'm an average - above average performer, not some superman like some thread posters here. Are the numbers accurate or near-accurate?

3.5 years and earning 6000 ++ wow! You are
Above market range! Compliance or Ops?

Unregistered 18-02-2017 03:51 PM

Hi guys, I am currently doing KYC ops for 5-6 months and I'm hating it. It is a perm role. Recently I had an one year contract offer to join deutsche bank debt capital market team for a TM kind of role. Would you guys advise me to make a switch. They are willing to pay 5k. Thoughts please?

The common advise is, No because apparently if move from Perm to contract it will be hard to get perm roles.

Unregistered 18-02-2017 05:16 PM

Quote:

Originally Posted by Unregistered (Post 94715)
Hi all,

Just wanna seek some opinions. True blue singapore son here.

I have about total 3.5years of working exp under my belt since graduating (all within the space of compliance with focus on aml/cft)

currently drawing a monthly basic of 6000++ with annual increment of 3-5% on avg. I'm in my late 20s and am just wondering how long do i need to clock to break the 10k ceiling ?

From my discussions with recruiters / peers in the same industry, commonly people in this field would need at least 6.5 - 7 years to reach the 8k - 9k mark, and >9years to break the 10k ceiling.

Of course, the above is based on the assumption i'm an average - above average performer, not some superman like some thread posters here. Are the numbers accurate or near-accurate?

Same situation as you... late 20s making 6.7k in compliance. While my fiance (same years of exp) getting 8.9k also in compliance but annual package about the same (~120k) as I get much more bonus. I guess with the avg 6% annual incre, hoping around is the way to go...

Unregistered 18-02-2017 05:34 PM

Quote:

Originally Posted by Unregistered (Post 94722)
Same situation as you... late 20s making 6.7k in compliance. While my fiance (same years of exp) getting 8.9k also in compliance but annual package about the same (~120k) as I get much more bonus. I guess with the avg 6% annual incre, hoping around is the way to go...

3-4 years experience in compliance and earning 8-9k? I am doing sanctions advisory and working experience for 5 years and I don't see that kind of money. Like many ppl here who mentioned the ease of getting compliance and I don't think they aren't paid this generous.would advise not give false advise /salary here.

Unregistered 18-02-2017 05:50 PM

Quote:

Originally Posted by Unregistered (Post 94722)
Same situation as you... late 20s making 6.7k in compliance. While my fiance (same years of exp) getting 8.9k also in compliance but annual package about the same (~120k) as I get much more bonus. I guess with the avg 6% annual incre, hoping around is the way to go...

Hi I am the previous poster.

wow, i'd assumed you're a female? then you probably have 5.5 to 6years of exp already?

If not... your total package is really very high ! Which area of compliance are you in if u mind sharing? My guess would be IBD / markets?

Your total is ~120K.. assuming you're on a 12 month pay basis, your bonuses averages around 5.5months ?! Very lucky !


Well, in any case i'll take everything said here a pinch of salt. just for my reference. End of the day i will still do my own market research and not just relying on hearsay from virtual forums

Unregistered 18-02-2017 05:56 PM

Quote:

Originally Posted by Unregistered (Post 94720)
3.5 years and earning 6000 ++ wow! You are
Above market range! Compliance or Ops?

Compliance.. technically i am covering ops part as well cos i work in a boutique bank. in a boutique there's no luxury like the big boys with compliance ops team clearing all the sai for them. So its basically what you folks been saying - advisory + need to do some mundane daily BAU work.

i thought i was doing okay. bonuses avg 2 - 2.5mths. But when i checked out various recruitment agencies salary guides i was shocked....

Unregistered 18-02-2017 08:03 PM

2.5 years of KYC experience, drawing 4.5k, bonus 5 to 6 months.

Unregistered 19-02-2017 11:06 PM

Quote:

Originally Posted by Unregistered (Post 94724)
Hi I am the previous poster.

wow, i'd assumed you're a female? then you probably have 5.5 to 6years of exp already?

If not... your total package is really very high ! Which area of compliance are you in if u mind sharing? My guess would be IBD / markets?

Your total is ~120K.. assuming you're on a 12 month pay basis, your bonuses averages around 5.5months ?! Very lucky !


Well, in any case i'll take everything said here a pinch of salt. just for my reference. End of the day i will still do my own market research and not just relying on hearsay from virtual forums

Yes I'm a female 5+ years exp, AVP in an Asian bank. Joined for 2 years, bonus been around 5 months but lower base. He's in European bank. We're both in the wealth/pb space. I'm in product compliance while he's regulatory.

For your reference, AVP salary range 6-12k (except for UOB this is VP and above level). It's the bonus that makes the difference... in this economic climate it is heng/suay. I do feel disheartened by his higher base at first until the bonus comes (HEEEHEEE)

Unregistered 19-02-2017 11:18 PM

Whao you guys are awesome.
Let me help with some diversity on data.
Doing compliance an ethics in a US mnc not bank- and i am making 85k per annum, bonus not included. 6 years of working experience.
Area of focus:
Anti bribery - full suite - policy drafting to transaction monitoring to training. All 7 pillars:)
Ethics- investigate all cases via the whistle blowing hotline.

would like to get some opinion on certification, are there any good certifications ?-
Apart from ACAMs, CCeP , ICA. What elses is good?

I have fiddled with pursuing a law degree, but am told by my bosses that don't do that unless you have serious interest in it.


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