Banks' Pay and Bonuses

Banks dun look at your results nor which uni you come from except for prestigious IB or MA programs. Director or VP level can be reached from 8 - 10 years upwards

Originally Posted by Unregistered

How difficult is it to become a director in BO after 15 years? Let's say for a local uni grad (2nd uppers). How many % would become a director?

Thanks.

If you want to work in Banks, you need to have excellent interpersonal,communication skills to be promoted. I would say yr class of honors does not really matter. It is just a passport for your entry into the bank and bargaining chips for your starting pay as a fresh grad. After that, it becomes a piece of paper unlike in civil service wheres that piece of paper determine your long run-potential.Your work performance and peers, superior appraisal is the key to determine your promotion . About less 10% would have become director level.

I have seen fair share of those local uni fresh grad with stellar academic credential, but they are too reserved, and introvert. Yes they can do their work well, but maintaining good relationship with your superior determine who get the promotion.

sorry off topic..facing a dilemma here. If given a choice, would you all choose to work as trade support in a well known, global firm or a FO, market facing role in a much lesser known bank?

Just how important is having a good brand name on one's CV? Or is the role more impt?

Thanks for any advice

Originally Posted by Unregistered

sorry off topic..facing a dilemma here. If given a choice, would you all choose to work as trade support in a well known, global firm or a FO, market facing role in a much lesser known bank?

Just how important is having a good brand name on one's CV? Or is the role more impt?

Thanks for any advice

It depends.
- Is this your first job?
- What do you mean by trade support? Executing the trades of traders, Global transaction services, or?
- How much less reputable is the bank? (e.g. what's its revenue and market cap?)
- What is the market facing role? Corporate/commercial/private/retail banking? What is your role there? To actually obtain clients (with a foreseeable pipelines of clients), or merely supporting the people there in their servicing of clients?
- Pay difference?

Originally Posted by Unregistered

sorry off topic..facing a dilemma here. If given a choice, would you all choose to work as trade support in a well known, global firm or a FO, market facing role in a much lesser known bank?

Just how important is having a good brand name on one's CV? Or is the role more impt?

Thanks for any advice

How much do you wanna be making? Trade support analyst role hits 60K max per annum. Front office role can get you this at the start.

intern/first year analyst at a bulge bracket front office role (think JPM, GS, CS, MS etc)...close to 10k per month.

Originally Posted by Unregistered

intern/first year analyst at a bulge bracket front office role (think JPM, GS, CS, MS etc)...close to 10k per month.

jpm don't pay their interns 10k

Originally Posted by Unregistered

jpm don't pay their interns 10k

the list of BBs are there just for reference...i'm not saying JPM pays their interns close to 10k. but some BBs definitely do.

No one pays interns for 10k. That doesn't make business sense when you can get an experienced hire with that money.

Originally Posted by Unregistered

How much do you wanna be making? Trade support analyst role hits 60K max per annum. Front office role can get you this at the start.

Analyst FO, first year, about 5xk per annum. Feeling discounted.
Not sure should I stay or move