I will be alarm if a fresh grad can so easily become a DBS PB RM.

It's not easy, it was a lot of hard work. Don't look down on all fresh grads please.

A simple check at DBS' website will show that Personal Banking < Treasures < Private Bank. Which category a customer belongs to depends on the amount of Assets Under Management (AUM) he has with the bank. Consequently, being an RM in DBS Private Bank is the most prestigious, followed by Treasures and finally PB (in fact PB RMs are not called as such, instead they are simply know as Personal Bankers). It is not difficult to become a PB. The Bank does hire fresh private uni grads as PBs. Becoming a Treasures RM is slightly harder. Typically, there are 2 ways to get there: 1) Enter as a fresh grad Treasures ARM (Assistant Relationship Manager) or 2) excel for 3-5 years as a PB RM. Private Banking RM is a whole new ball game; it is many, many times the jump from PB to Treasures, and understandably so as the difference in AUM from Treasures to Private Banking is several times that from PB to Treasures. The range of financial instruments and investment vehicles available to a Private Banking customer is much greater than that for a PB or even Treasures customer. As a result, the prestige of being a Private Banking RM is much greater than that of a Treasures RM. The core of all 3 jobs are the same though: Generating as much sales as possible.

Most ARMs do not become RMs until about 4-6 years later.. and there are still a couple of AVP/ VPs who are still SARM.

The fastest way to become a RM in DBS is probably via the MA prog path (years ago) where MAs in CBG are groomed to become a RM.

Actually the ranking in DBS wealth management goes: PB > Treasures Private Client (TPC) > Treasures.

finally someone who knows his stuff

Hi all, I just got offered for the SME banking role. Anyone else heard back?

Clearly not good enough - if not you’ll be at one of the American bulge brackets or UBS/Credit Suisse. Or even the fallen DB (lols).

Congrats! Did they call you via mobile after work hours? :O
No calls or emails for me.. Haha

My previous post of DBS PB RM - I meant DBS Private Banking RM, not DBS Personal Banker RM.

The problem with all retail banking RM roles (be it private banking, treasures or personal banking) right now is that they're getting devastated by covid. With branches closed and safe distancing measures in place, these sales ppl are getting hit hard, especially since most of their salary is commission-based. Note that this is only for the short-term. Over the longer-term, the tech threat looms big. With online banking, mobile banking apps and even robo-advisors coming into play over the past few years, the future of retail banking looks bleak. These sales ppl typically rely on face-to-face meetings to generate their sales, where they can sweet-talk the client. Charisma is their main weapon. Poorly informed uncles and aunties who are ill at ease with digital banking solutions are their main targets (this is esp true for personal banking and treasures). However, as this group learns how to do their banking online and on their phones in the time of covid, many will get used to it and even come to prefer it, such that even after covid has passed, they will continue to bank online. No doubt many of you have seen the meme of covid driving the digital transformation of companies. It is driving the adoption of digital solutions for individuals as well (and not just in banking), and those in sales are all the poorer for it. Another factor to consider is that this group is of an advanced age already and thus their incomes have stagnated (or even dropped to 0 for those that retire). The young and even middle-aged that are actively climbing the corporate ladder and seeing their incomes rise are much more tech-savvy and prefer to take a more hands-on approach towards investment, to the detriment of financial advisors. All in all, the future prospects of retail banking RMs isn't bright.

for a secondary school essay, i'd give you 17/30. good try!

so you disagree with #691? can explain why?

This assessment is pretty spot on.

The younger generations in the future will all DIY online.

It is the older folk who still need someone to explain to them. But there are a lot of older folk, and the older folk have the money.

This assumes people will voluntarily sign up for investment plans by themselves. A lot of times, RMs prey on unsuspecting customers and sweet talk them into signing up. How this interaction will move into the digital space is not so clear yet, so far I've been cold approached by insurance agents on linkedin, not sure if any bot can replicate this as it is still quite a social business.

hi.. .back to the grad prog. anyone else received the offer for sme banking too?

I have not heard back since... have you?

try to avoid sme banking if you can. u want to be servicing the big players aka mncs.

Hey haha i think its a good stepping stone to corporate banking. Market is really bad so it would be great to go through the 1 year of training offered by dbs

hi guys im the one who posted regarding the interview on 28 feb, till now still no news.. :(

Hi i received the offer. Will try to help answer some questions

what's the pay for grad associate under sme banking?

3.8k per month

3.8k basic monthly. Have performance bonus. No 13th month AWS.

Perks: 24 days annual leave, 5 days compliance leave, 30 day medical leave, 60 day hospital leave.
Special staff (interest) rates for savings accounts and mortgage loans

Hello! Just wanted to ask since you've received an offer on Fri. I received a call from Apple on Thurs 5pm where she offered me the role and then said that she will initiate the checking process before calling back the next day (Fri) or next week. Was there any forms you had to fill or anything? As I didnt receive any emails after that and she has yet to call back. How long did it take for you? Thanks!

congrats on your offer! heard there are only 13 GAs for SME banking offered this year. she sent me the pre-employment screening form and credit bureau form this morning. you should drop her an email to follow up, and check your spam email. the forms take around 30 min to complete.

Thank you! Congratulations to you too! (: I was offered GA for Ops not SME heh but I guess the process would be similar. I will drop her an email tomorrow if I still don't hear from her. Thank you once again!

Congrats to all who received an offer from DBS! :)

Just curious... did anyone have the opportunity to ask about the progression for GA's in DBS in terms of rank and pay scale? Any ideas about mobility across departments too?

Would be happy if anyone has some insights and thanks in advance! :D

progression better at front and middle office. front office progression is the most variable, especially at consumer banking side. reason is it all depends on how much sales you can pull in, the top performer can be many times ahead of the bottom performer. back office has the worst progression, especially for operations.

i got the offer for Operations! accepted it alr and pay is indeed 3.8k as above.

however reading up on all the comments on how back office is a dead-end job and prone to outsourcing makes me think i made the wrong choice, sigh

Hey there, firstly congrats on the offer! It's not easy to land a job in this period. DBS is a reputable bank and you have plenty of exit opportunities. You can also ask for internal transfers. Work on your skills during the GA programme and don't let the role determine your career

Hi does anyone know what are the stages in the Assessment Centre and how they are like? Thank you

Sorry I think there is no AC for operations. From their web it seems there’s only panel and HR interview

MA Operations
 

Hi all, can i confirm that there is no accessment center for the operations MA? And also for the AI Application chatbot, if i had click and check status and it state "Your application is selected for the final shortlist". Does it mean i will get an interview with the panel straightaway or i still need to go for another round of shortlisting?

In the same situation as you. I believe in their website there is no assessment centre for Ops, but for SME Banking there is. My taleo submission status is "schedule assessment centre", no idea why that is the case

sme grad prog
 

anyone progressed to next round after video interview for sme prog alr?

the commencement is next year july 2021 for the programme right? just receive the invitation

as in you got offered alr?

Did you recieve an invitation to the assessment center or an interview?

Can we apply to both grad programmes?
 

Saw that there are ops and sme grad programme, I am wondering are we allowed to apply for both or have to pick one? and is ops programme more for students from tech background?