Banks' Pay and Bonuses - Page 24 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Banks' Pay and Bonuses

Reply
 
Thread Tools
  #231 (permalink)  
Old 14-05-2021, 08:31 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.

Reply With Quote
  #232 (permalink)  
Old 14-05-2021, 09:36 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.

Reply With Quote
  #233 (permalink)  
Old 14-05-2021, 09:38 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.

Reply With Quote
  #234 (permalink)  
Old 15-05-2021, 12:09 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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).
Reply With Quote
  #235 (permalink)  
Old 16-05-2021, 09:44 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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?
Reply With Quote
  #236 (permalink)  
Old 16-05-2021, 09:59 AM
Unregistered
Guest
 
Posts: n/a
Default

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?
Reply With Quote

  #237 (permalink)  
Old 16-05-2021, 10:07 AM
Unregistered
Guest
 
Posts: n/a
Default

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.
Reply With Quote
  #238 (permalink)  
Old 16-05-2021, 10:14 AM
Unregistered
Guest
 
Posts: n/a
Default

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.
Reply With Quote
  #239 (permalink)  
Old 16-05-2021, 11:08 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.
Reply With Quote
  #240 (permalink)  
Old 16-05-2021, 11:10 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Annual increment and bonuses at NUH and NUS darkstar Income and Jobs 3 19-01-2014 04:10 PM
Bonuses !! uturn Income and Jobs 50 19-03-2013 09:54 PM
IT in banks sochews Income and Jobs 7 08-12-2011 09:45 AM
More Pay and Bonuses for Teachers Salary.sg Income and Jobs 7 05-12-2009 06:45 PM
MINDEF and SAF Sign-On Bonuses Salary.sg Income and Jobs 9 16-08-2009 03:40 PM

» 30 Recent Threads
Top paying companies in SG for... ( 1 2 3... Last Page)
100 Replies, 139,012 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
2,068 Replies, 567,949 Views
Career as Teacher ( 1 2 3... Last Page)
4,072 Replies, 2,579,967 Views
Lawyer Salary ( 1 2 3... Last Page)
14,372 Replies, 4,836,643 Views
IMDA (under MCI) ( 1 2 3... Last Page)
168 Replies, 68,818 Views
How is life as a doctor in... ( 1 2 3... Last Page)
2,927 Replies, 1,463,345 Views
Compare civil service salary ( 1 2 3... Last Page)
12,732 Replies, 7,493,142 Views
How much do you earn and save? ( 1 2 3... Last Page)
289 Replies, 112,115 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,206 Replies, 2,596,944 Views
High Finance Thread ( 1 2 3... Last Page)
350 Replies, 112,077 Views
GovTech ( 1 2 3... Last Page)
498 Replies, 346,801 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,782 Replies, 4,419,779 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
3,437 Replies, 1,397,163 Views
Engineer Pay ( 1 2 3... Last Page)
331 Replies, 148,640 Views
GovTech Tech Associate Program... ( 1 2 3... Last Page)
122 Replies, 45,291 Views
DBS tech seed programme ( 1 2 3... Last Page)
1,108 Replies, 271,936 Views
Working in a bank ( 1 2 3... Last Page)
524 Replies, 342,953 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,155 Replies, 1,721,773 Views
Exxon Mobil Equipment tech or... ( 1 2 3... Last Page)
1,879 Replies, 629,784 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
93 Replies, 27,344 Views
Queries about Cpib application ( 1 2 3... Last Page)
1,289 Replies, 652,486 Views
Anyone work in JPM/GS/Morgan... ( 1 2 3... Last Page)
67 Replies, 10,861 Views
Mnc jobs - a must in life ?? ( 1 2 3... Last Page)
169 Replies, 69,103 Views
Getting MBA worth? ( 1 2 3... Last Page)
135 Replies, 101,402 Views
Relocation to the US or stay in SG? ( 1 2 3)
22 Replies, 1,060 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
824 Replies, 222,926 Views
NUS (National University of... ( 1 2 3... Last Page)
130 Replies, 123,608 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,103 Replies, 1,330,830 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
3,952 Replies, 1,812,913 Views
If you can't find a company here... ( 1 2 3)
23 Replies, 2,750 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 12:20 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2