Advice needed: where to go with FCH?

Originally Posted by Unregistered

What is the typical annual annual package of VP? Would it be around 120k? Or 150k?

VP can be quite a big range. Junior VP would be $120K. Mid level $200K to $300K. senior level $350K and above. This include bonus but are not front office positions.

Originally Posted by Unregistered

Based on my exp in recruitment, I would say roughly 90-100k all-in for junior VPs who just got promoted and your figures are quite there for more seasoned VPs, i.e. 120-150k annual is very common for most mid career VPs (around mid 30s to early 40s type) in the BO or MO space.

SVP pay will be more varied. The lowest I have seen is 130k and the highest so far for non-sales / FO type is close to 400k. A typical SVP is usually around early to mid 40s average pay about 250k.

These numbers are not bad, enough for a someone to lead an upper middle class lifestyle, but those who think they are going to drive a Ferrari from their District 9 landed garage & rub shoulders with the elites and socialites by being a VP/SVP in Compliance, KYC, Risk Management, HR, IT, Marketing etc. are in for a nasty shock.

All figures are annual inclusive of bonus and allowance.

total rubbish btw, most vp are at the 300k level and svp confirm can hit min 500k

Originally Posted by Unregistered

Based on my exp in recruitment, I would say roughly 90-100k all-in for junior VPs who just got promoted and your figures are quite there for more seasoned VPs, i.e. 120-150k annual is very common for most mid career VPs (around mid 30s to early 40s type) in the BO or MO space.

SVP pay will be more varied. The lowest I have seen is 130k and the highest so far for non-sales / FO type is close to 400k. A typical SVP is usually around early to mid 40s average pay about 250k.

These numbers are not bad, enough for a someone to lead an upper middle class lifestyle, but those who think they are going to drive a Ferrari from their District 9 landed garage & rub shoulders with the elites and socialites by being a VP/SVP in Compliance, KYC, Risk Management, HR, IT, Marketing etc. are in for a nasty shock.

All figures are annual inclusive of bonus and allowance.

haha dunno anything try to act old bird. you can read all the pay abt banking here ://forums.salary.sg/income-jobs/4849-people-finance-industry.html

dun embarrass urself if u know nothing abt banks

[aeipathy]

Thanks everyone, for kindly posting your insights so far. If only the public sector will let me hit those figures as a non-scholar!

I'm not looking for easy and fast money, just fair reward to the effort I am ready to put in, which is why from all I heard so far, local engineering jobs tend to be poor in this regard. I'm also not looking at 300-500k yet, pulling my family up to middle-upper income levels would make me feel quite accomplished already.

But after a poster reminded me about how many FCHs and overseas/Oxbridge/Ivy grads there are out there, I think I should widen my choices and look at other MNCs as well?

Originally Posted by aeipathy

Thanks everyone, for kindly posting your insights so far. If only the public sector will let me hit those figures as a non-scholar!

I'm not looking for easy and fast money, just fair reward to the effort I am ready to put in, which is why from all I heard so far, local engineering jobs tend to be poor in this regard. I'm also not looking at 300-500k yet, pulling my family up to middle-upper income levels would make me feel quite accomplished already.

But after a poster reminded me about how many FCHs and overseas/Oxbridge/Ivy grads there are out there, I think I should widen my choices and look at other MNCs as well?

But the public sector does allow you to reach those figures even as a non-scholar as long as your individual performance is strong. There are non-scholars who can reach DD level before 40 if CEP and performance is high enough. DDs are paid anywhere 12-15k on a 17 mth package in a ministry, that is 200-250k. Unless you really believe those 1 liner post promising mega riches in a bank, then I have nothing to add.

Sure, a non-scholar will not reach perm sec level and get that $1.5mil pay, but over $200k is definitely attainable if you are good and play your cards right. What I'm trying to tell you is that if you are good, lots of places including the public sector and many other industries in the private side can be potentially rewarding. There is no need to get all hung up on joining the banks which for most of the non-sales positions are only average in pay compared to others.

Originally Posted by Unregistered

Based on my exp in recruitment, I would say roughly 90-100k all-in for junior VPs who just got promoted and your figures are quite there for more seasoned VPs, i.e. 120-150k annual is very common for most mid career VPs (around mid 30s to early 40s type) in the BO or MO space.

SVP pay will be more varied. The lowest I have seen is 130k and the highest so far for non-sales / FO type is close to 400k. A typical SVP is usually around early to mid 40s average pay about 250k.

These numbers are not bad, enough for a someone to lead an upper middle class lifestyle, but those who think they are going to drive a Ferrari from their District 9 landed garage & rub shoulders with the elites and socialites by being a VP/SVP in Compliance, KYC, Risk Management, HR, IT, Marketing etc. are in for a nasty shock.

All figures are annual inclusive of bonus and allowance.

I'm looking at slightly higher figures (perhaps driven by varying bonuses), but in general, spot on. People are kidding themselves if they think the average VP package in a bank (BO and MO) are in the 400k-500k bracket. Only HR and Comp really know what it is across functions and levels, not exceptions that have been ring-fenced or talked up in speculative conversations.

Originally Posted by Unregistered

But the public sector does allow you to reach those figures even as a non-scholar as long as your individual performance is strong. There are non-scholars who can reach DD level before 40 if CEP and performance is high enough. DDs are paid anywhere 12-15k on a 17 mth package in a ministry, that is 200-250k. Unless you really believe those 1 liner post promising mega riches in a bank, then I have nothing to add.

Sure, a non-scholar will not reach perm sec level and get that $1.5mil pay, but over $200k is definitely attainable if you are good and play your cards right. What I'm trying to tell you is that if you are good, lots of places including the public sector and many other industries in the private side can be potentially rewarding. There is no need to get all hung up on joining the banks which for most of the non-sales positions are only average in pay compared to others.

Just wish to say that designation in itself does not guarantee salary. That being said, want to point out that DDs do not earn 12 - 15k a month; that's being over inflated. 12 - 15k a month seems more like the salary bracket for Directors, having achieved MX10 and below. Of course there could be DDs which are MX10 and earning about 10 - 11k, but in general their pay would be from 7 - 8k for a DD.

Hi, to the OP: first of all, congratulations for attaining such good results (I'm a FCH as well so I know what it is like). However, unfortunately, sorry to be the bearer of bad news but except for management consultancy at the MBB level (the big 3) and S&T, there's not much differentiation between getting first class and second upper. Internships > Relevant CCAs/Grades > Non relevant CCAs

The point of getting good results is to help you land good internships. The point of good internships is to allow you to land a good job. It wasn't the way in the past but applications have become more competitive - you need to show you are suitable for the job and people have begun to one-up one another at internships.

All is not lost however - if you work really hard and prepare for interviews, you can still get decent jobs - it does suck to feel like "you missed the boat for internships" but there's always biz school (MBA level) - you can make a competitive application if you plan 3 years early if you want to get high flying jobs.

Note that my comment is based on the general majority - there are people who need neither GPA, internships or networking to get to where they want or earn a lot of $$ (but for the same reason why you shouldn't drop out of school just because Mark Zuckerburg did, its not really advisable)

@OP: I wrote the last post. Didn't see that you would be graduating next year - in this case, you should apply aggressively to internships (preferably big brands in the field you are interested in).

Originally Posted by Unregistered

Just wish to say that designation in itself does not guarantee salary. That being said, want to point out that DDs do not earn 12 - 15k a month; that's being over inflated. 12 - 15k a month seems more like the salary bracket for Directors, having achieved MX10 and below. Of course there could be DDs which are MX10 and earning about 10 - 11k, but in general their pay would be from 7 - 8k for a DD.

Hi, I will have to disagree with you. Other than MFA which seems to have more inflated titles, 7-8k is more like a high AD or low SAD level for other ministries. With the introduction of SAD in many places now, you will hardly find any DD at MX11 unless is old legacy cases. IIRC MX10(entry DD) now minimum level is 11k.