BofA is not even a mid tier BB and they are known to pay **** in SG. Even local banks are paying 4.5k for ops grad program.

Thoughts on GS ops? Progression & bonus? Thank you!

Probably the best paying for Ops across all banks. But you probably work the hardest too.
People average 11 hours a day in GS.

Fastest Possible to reach VP is 5.5 years if you're good; 6.5 to 7.5 if you're decent; never if you are average. Therefore need to be top of your game.

When you hit VP, at least 10k a month. Bonus is a mild bell curve. The top ones can get 2-3 months (yes, it's not fantastic). The worst performing get zero or negative (negative meaning your base can go up, but your year on year bonus drops so much that your overall compensation for the year drops (that's a sign you're on the firing block).

(Currently working/have worked across multiple BBs, including GS/JPM/MS).

how about middle office trade support role in GS? Is the base and bonus better than BO?

The same. Ops is Ops. There is no distinguishment between middle and back office in GS, and they are part of the same bonus pool.

anyone knows what are the exit opps for bank ops? started working since apr in gs mo but its so fking mundane

Network yourself out of ops. if you're smart enough for gs ops, you should be smart enough to know how to get out. if you're not, well.....then perhaps you're suited for ops

CS still considered mid tier nowadays?

is it common to be able to hit 250K/annum total comp after 15 years in a bank?

If say 200-250k is common. Above that maybe not for everyone.

Depends.

If it’s FO (BB), yes.

If it’s FO (non-BB), depends.

If it’s MO/BO (BB), if you are above average/top bucket consistently.

If it’s MO/BO (non-BB), you have to be the cream of the crop.


Also depends on what FO and MO/BO tbh.

So stressful to be top.

If you can't hit 250k after 15 years in FO you probably should just jump building

Lol exactly. I'm FO non Asian bank /non BB, 2 years exp, already break 210k after bonus.

that's slow. i'm BO local bank, poly grad, breaking 300k before bonus

that's slow. i started selling insurance after i grad from kindergarten and broke 500k rupiah after bonus.

Yup, ^Defo from back office.

I have been in digital and banking for more than 20 years, having worked in local banks (OC, DBS, UOB) and also international banks (CS, Citi, HSBC), and i can tell you these:

- AVP (6 - 8K) [5 - 10 years of experience]
- VP (8 -12K) [8 - 15 years of experience]
- SVP (12 - 20K) [12 - 20 years of experience]
- ED (18 - 25K)
- MD (20- 50K)

Bonus are typically 1-2 months in local banks, and 2 - 3 in international banks. Well, DBS is paying like international banks, while Citi bonus is known to be S**T.

How much do hsbc advance personal wealth managers make? About 5-6 yoe

Do you mean the reverse on the bonus numbers?

Also, isn't the AVP/VP range kind of narrow? Would think it should be more like 6-11k and 8-15k respectively.

interesting - i have not seen a AVP make more than 10K.
And VP (maybe VP1 in UOB) will make 8k but VP1 in UOB is a like a AVP in other banks.

Why got avp, vp, svp but no p and sp?

So avp is like asst manager in private?

This is fairly accurate that DBS pays 2-3 months on average, sometimes goes to 4-6 but only for high performer.

VP range is about right too, but note that most VP have "allowance" which help to bump the total gross salary to 8-12k per month if anyone is wondering.

SVP ceiling might not just be 20k, might be slightly more but rare.

No comments on ED/MD as not familiar

Titles are deceiving. I know a banker whose title is associate director but is only AVP rank when it was mapped over at our side.

this man deserves a tiger!
the first person in a while whom i have seen is talking facts and has a good grasp of the market

I applaud you sir!

Are the numbers quoted also accurate for front office? Eg. Dbs corporate and investment banking

I'm quite certain these numbers are for MO/BO

Theres really no huge difference for base pay for DBS tbh. The difference is in the bonus.

Sharing some info, I believe UOB and HSBC titles are inflated at AVP and VP levels

UOB
AVP 4.4-8k
VP1 5.5-9k
VP2 7-11k
FVP 8-12k
SVP 11-17k
ED 13-20k

HSBC
AVP 4.5k to 8k
VP 6k to 10k
SVP 9k-17k

what hires would be able to command the upper range of the inflated AVP/VP ranks? such as drawing 8k for AVP and 10k as VP?

im currently drawing 8k as AVP in another bank, just wondering how its mapped over.

If you are joining from another bank, the usual applies which is benchmarking to your last drawn. If you are home grown, these are the super senior citizens who do not want or can’t progress to the next level, they will keep getting the increment till it’s capped at the level.

8k AVP for you, I supposed you are either with DBS or Citi, assuming you are somewhere in 20s or 30s?

I see. So I guess it'll make more sense to join at the lower end of a higher rank's pay scale (if possible of course).

I'm in a European setup. Late 20s going 30s q soon yep.

2nd / 3rd line of defence
 

Hi would like to hear some insights for salary benchmarking.

For a 2nd / 3rd line of defence role in a bank with about 7-9 YOE, how much salary are you receiving ?

both in same local bank and haven't changed job for past 4 years, thus can possibly add another 20% if factoring in a job switch.

9 year AML experience with 8-9k
10 year audit experience with 10-11k

my friend joined as AVP FO last year getting close to 10k. is this usual for FO in local bank?
I know some banks and big 4 accounting firm will offer higher to attract candidates but future increase will be lower than normal.

How many months is bonus in a local bank and also in international banks? Is there a big discrepancy?

How many yoe was ur friend?

10k is analyst in FO... Not AVP. I'm in foreign bank AVP, base already 175k. Unless your friend joined some Asian bank like ctbc or locals.

Bands moved at DBS esp for tech side or mid office.

AVP can go up to 11k, VP is 10-20+ (for exceptional cases) monthly and much higher bonus. Think 4-8 months.

What's the avg experience required for AVP and VP in DBS?