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  #231 (permalink)  
Old 14-05-2021, 08:31 PM
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How much is AVP compliance/Internal audit paid for tier 2 banks (local banks, stan chart, hsbc etc) and for large international banks (credit suisse, JPM etc) ?
Local banks are at least one tier lower than the likes of Stanchart, HSBC and Citi, all of whom have much greater market cap than the three local banks. In terms of pay, local banks don't pay as well as them either, but are way better in terms of job stability. I guess that's the price you pay for a more stable job. The two international banks you mentioned, Credit Suisse and JPM, are indeed international banks, but are more commonly known as Bulge Bracket (BB) banks. BBs pay the most handsomely, even more than Stanchart, HSBC, Citi.... for some roles, large foreign banks (that are not very international) like BOC, MUFG, ING also pay better than local banks. Local bank HR are also known to lowball applicants so I'd say internal audit/compliance can get 3-6k in a local bank but in a good international bank, you can expect 5-9k.

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  #232 (permalink)  
Old 14-05-2021, 09:36 PM
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How much is AVP compliance/Internal audit paid for tier 2 banks (local banks, stan chart, hsbc etc) and for large international banks (credit suisse, JPM etc) ?
Can't comment for local banks but for international banks officer level with at least 2-3 years of working experience) pay at least $5k and up. For AVP, this could be at least $7k-8k onwards. I heard JPM does not have an "AVP" title but I could be wrong and happy to be corrected.

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  #233 (permalink)  
Old 14-05-2021, 09:38 PM
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Can't comment for local banks but for international banks officer level with at least 2-3 years of working experience) pay at least $5k and up. For AVP, this could be at least $7k-8k onwards. I heard JPM does not have an "AVP" title but I could be wrong and happy to be corrected.
Same poster here. To add, Compliance AVP for Credit Suisse is hard to come by (internal promotion is pretty sh*t and prefer to poach from other places) but typically require at least 5-6 years of experience.

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  #234 (permalink)  
Old 15-05-2021, 12:09 PM
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Can't comment for local banks but for international banks officer level with at least 2-3 years of working experience) pay at least $5k and up. For AVP, this could be at least $7k-8k onwards. I heard JPM does not have an "AVP" title but I could be wrong and happy to be corrected.
JPM does not have AVP but have senior associate title for MO/BO. Starts around 7.5k-8k and capped at 12-14k depending on years of exp (there are those closing their 40s who are just stuck there).
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  #235 (permalink)  
Old 16-05-2021, 09:44 AM
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JPM does not have AVP but have senior associate title for MO/BO. Starts around 7.5k-8k and capped at 12-14k depending on years of exp (there are those closing their 40s who are just stuck there).
Interesting! So JPM's Senior Associate is akin to AVP level to international banks, which is then akin to VP level to local banks, it seems?
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  #236 (permalink)  
Old 16-05-2021, 09:59 AM
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4 yrs of experience in a BO/MO role currently drawing 5.7k. i do not see much progression anymore and have been actively looking out. however, the hunt has been quite arduous.

finally, i was offered 6.5k at a foreign bank with no further nego. same j.d and role (no vertical progression in rank). though i was ideally expecting a 20% increment, many have told me it is tough to get 20% during COVID.

i am heavily inclined to accept this and was wondering whether it is a good idea to do so or keep looking?
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  #237 (permalink)  
Old 16-05-2021, 10:07 AM
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Seems like you have the answer in your heart alr. I would suggest just taking it and when covid ends in 2 years see if there pay increment, else can choose to jump again.
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  #238 (permalink)  
Old 16-05-2021, 10:14 AM
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i do feel like i'll just take this. not because its my "dream bank or job", but more of circumstances. even if another existing lead turns into an offer, i have been repeatedly told by the other side that what i'm looking for (20%) is unattainable.

just afraid i may end up lamenting about the compensation as im not sure whether 6.5k at 4yrs+ in BO/MO is within market rate, as there is a wide range in this thread and other salary guides.


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  #239 (permalink)  
Old 16-05-2021, 11:08 AM
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i do feel like i'll just take this. not because its my "dream bank or job", but more of circumstances. even if another existing lead turns into an offer, i have been repeatedly told by the other side that what i'm looking for (20%) is unattainable.

just afraid i may end up lamenting about the compensation as im not sure whether 6.5k at 4yrs+ in BO/MO is within market rate, as there is a wide range in this thread and other salary guides.
What function are you doing exactly? For instance, middle office/trade support/compliance usually pays more.
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  #240 (permalink)  
Old 16-05-2021, 11:10 AM
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Interesting! So JPM's Senior Associate is akin to AVP level to international banks, which is then akin to VP level to local banks, it seems?
Nope. SA is akin to AVP in local/other foreign banks. VP in JP is the same as VP in local banks, just that JP VP has a higher starting base.
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