Banks' Pay and Bonuses

Originally Posted by Unregistered

Assuming that your age is between 30-34, according to Salary.sg:
Your income places you at the 77.4th percentile among both genders. You are in the top 22.6% of your cohort.

There's a survivorship-bias here, where a lot of those who are speaking up are those that are doing really well among their peers. There are some who are lying about their salaries too. But the key point here is that you're doing fine. There are many more out there who are jobless and are unable to find jobs. Treasure your job, and at the same time, just keep on the look out for better opportunities.

Agree +1. Only point I would comment is there is much more BS here then survivorship-bias IMO. Almost everyone here is claiming to make $100k+ a year with <10 years exp and lots of supposed millionaires in their mid 30s.

I seriously doubt all these top 1% elites in sg are gathering here in a unregistered salary forum. So for the SCB guy, I would say relax and no need to depress, you are already above average.

Just read it for entertaining purposes.

The real bankers have no time posting online about their wealth. They r out there looking for the next best deals to close. Even if they want to flaunt their wealth, why the hell they want come here to flaunt? No girls no deals nothing. What gains do they have hahaha except for more big fairy cannons to come and blow themselves up.

I hope you guys notice something, most of these so called high earners doesn't even dare show a self taken pic of evidence to prove their wealth eg bank a/c no you can omit the details etc.

Most are just liars lol. If you want to believe in something, go look at sing stat or manpower statistics and do some number crunching, the truth will be revealed.

Originally Posted by Unregistered

Agree +1. Only point I would comment is there is much more BS here then survivorship-bias IMO. Almost everyone here is claiming to make $100k+ a year with <10 years exp and lots of supposed millionaires in their mid 30s.

I seriously doubt all these top 1% elites in sg are gathering here in a unregistered salary forum. So for the SCB guy, I would say relax and no need to depress, you are already above average.

Ya for the SCB guy you can show this forum to your boss and ask for pay raise. I think your boss will laugh his head off. Jeezz

Just for those who are interested in how the real numbers look like from MOM. So I got bored at work and did a bit of mini research on the ministry websites for 2014 info.

For a degree holder in Singapore, the highest median annual income reported is $129,969 (inclusive of basic, allowance, aws, ot, bonus, but excluding employer CPF, tax)

The career & wage peak is 52 years old, that is when a median degree educated Singapore resident hits the $129,969 number. Wages start to decline after that as you grow older, probably due to lower market value, harder to find jobs and some people go on reduced time basis.

If you use an approximation of a typical employee who goes on a 12(basic) + 1(aws) +2(variable) annual pay, we are talking about $129,969/15 = $8,665 max monthly salary at 52 years old.

Contrast this with the stories here, they make it out like you are a loser if you cannot make $10k a month after working 10 years. Clearly out of line with what the government verified numbers are saying.

Originally Posted by Unregistered

Just for those who are interested in how the real numbers look like from MOM. So I got bored at work and did a bit of mini research on the ministry websites for 2014 info.

For a degree holder in Singapore, the highest median annual income reported is $129,969 (inclusive of basic, allowance, aws, ot, bonus, but excluding employer CPF, tax)

The career & wage peak is 52 years old, that is when a median degree educated Singapore resident hits the $129,969 number. Wages start to decline after that as you grow older, probably due to lower market value, harder to find jobs and some people go on reduced time basis.

If you use an approximation of a typical employee who goes on a 12(basic) + 1(aws) +2(variable) annual pay, we are talking about $129,969/15 = $8,665 max monthly salary at 52 years old.

Contrast this with the stories here, they make it out like you are a loser if you cannot make $10k a month after working 10 years. Clearly out of line with what the government verified numbers are saying.

please lor... ppl here to tcss pass time. who got time for ur stupid research & grandma story.

talk so much jiao wei, how many of them are really in the FO hahaha.

Originally Posted by Unregistered

please lor... ppl here to tcss pass time. who got time for ur stupid research & grandma story.

There are people who really interested to find out market pay (like the SCB guy). Just because you & many jokers treat here as big cannon entertainment doesn’t mean everyone must follow.

Originally Posted by Unregistered

for grads in banking the net worth should be higher than the median.

38 and my wife 36 are in banking and our net worth is about $3M

typically a Director/SVP will earn about $20K monthly, so it's quite possible to hit a high net worth with disciplined savings and prudent investments in property and stocks

Agree with the 20k/mth for Director level pay. I work in risk management non-revenue generating role and getting this amount. My wife in compliance VP getting 17k/mth.
We stay in HDB, and invested in 3 london properties during 2010 for gbp passive cashflows

There are a few thousand, may be tens of thousand, bankers earning more than sgd10k per mth. Just go to IRAS website to download the breakdown of tax payers and you will see 300k taxpayers in assessed income gp of at least sgd100k.

https://www.iras.gov.sg/IRASHome/Pub...tatistics/#IIT

Originally Posted by Unregistered

Agree with the 20k/mth for Director level pay. I work in risk management non-revenue generating role and getting this amount. My wife in compliance VP getting 17k/mth.
We stay in HDB, and invested in 3 london properties during 2010 for gbp passive cashflows

We do have some banks with inflated corp titles... HSBC, UBS, etc... I have 3 friends in HSBC all as VP... yet their pay grade is about the same as a "manager / AVP" in my bank.