The downs is strong in this one.
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From the backgrounds of all the hedge fund people that I know, almost all come from trading backgrounds. They tend to follow the traditional Danny Yong pedigree tbh. |
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It was his ignorance speaking. |
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PE and fundamental type HFs are common exit opps for investment bankers and rarely do you get a sell side trader going into fundamental hedge funds (macro type funds are big though for traders on macro products desks). PE for sell side traders especially is close to impossible because sell-side traders, as mentioned before, do little to no modeling work on a daily basis compared to investment bankers (mostly M&A but also at times from the coverage groups) who churn out models and tables all day. Hope this provides a little bit of insight. |
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Better than a lot of the losers on this forum who talk rubbish and try to act smart.
Totally useless losers: must be real clowns in life. |
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anyone knows what the salary of an associate in SCB Strategic Planning dept?
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Strategic salary
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Hi everyone, reading around this forum really depressing. It seems like I am behind most people in pay & progression.
Already 32 years old this year with 7 years experience in various personal banking jobs since leaving SMU with a business degree. Currently in SCB as a RM in priority banking side. Now only getting 4.8k monthly include bonus everything only about 68k per annum. Is anyone on the personal banking side can comment? Looks like I am so far behind most bankers here... |
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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. |
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those who do well tend to flaunt, take part in social events, post facebook/twittter & talk big while those not doing very well either avoid or keep quiet & smile. when in doubt always check verified gov or 3rd party studies. one good e.g. is networth. if u read the networth/savings thread over here, almost everyone is claiming to be >$1mil in their mid 30s, but if u read the credit suisse study it says only 1 in 9.5 here is a millionaire. the median net worth is in sg is in fact only ~US$144k |
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anyone able to share about the remuneration at jap banks in sg? (nomura vs mizuho vs smbc etc) thanks!
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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 |
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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. |
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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. |
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talk so much jiao wei, how many of them are really in the FO hahaha.
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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 |
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really doesn't seem that way ... lol in ithe past 100k PA can own a nice conti car and condo. nowadays, 100k annual salary can barely afford a HDB and honda jazz. |
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So we are talking about 1%-2% of the population who make $10k & above. In this unregistered forum, seems like >60% are claiming they make more than that. Smells like BS to me. |
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S$ Tax Resident Non-Tax Resident4 20,000 & below - 19,907 20,001 - 25,000 66,410 1,705 25,001 - 30,000 121,292 1,334 30,001 - 40,000 270,703 1,837 40,001 - 50,000 207,250 1,180 50,001 - 60,000 148,420 844 60,001 - 70,000 107,135 576 70,001 - 80,000 79,742 411 80,001 - 100,000 108,754 555 100,001 - 150,000 140,914 618 150,001 - 200,000 61,029 246 200,001 - 300,000 53,623 186 300,001 - 400,000 22,535 58 400,001 - 500,000 10,639 25 500,001 - 1,000,000 13,714 33 1,000,001 & above 4,231 32 Total 1,416,391 29,547 going by the IRAS numbers total earning 100k and above = 306685/1416391 = ~22% so 1 in 5 are earning more than 100k per annum. that's quite a number isn't it? |
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People often are most familiar with others in/around their socioeconomic strata, so those who still earn <$100kpa in their early 30s usually have most of their family and friends also earning <$100k in their early 30s.
These people don't know what they don't know, and so think it is ridiculous and BS for a good number of people to earn >$100k in their early 30s (which really isn't a lot at that age). Then there are those who assert that the forummers here are BS-ing by comparing the claims here against the national population. The fact is, those who frequent the forum, and those who actually post comments, are NOT representative of the national population to begin with. It is not inconceivable that the higher income earners are over represented in this forum because the lower income earners do not visit such forums or simply prefer to stay silent. |
>100k in early 30s is very common in banking sector, even for non revenue generating role.
The good ones already reach VP in early 30s and hit 200k for mid office role, or 300k for front office role. Quote:
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Here is a sample of school mates aged 32
Associate in blackrock - base 120k, bonus 5 mths VP in prdt development - 170k base Associate in quant research - 130k base VP in DCM - 200k VP in market risk management -180k Trader in buyside quant fund - 120k, bonus 1yr |
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and seriously wtf is a "buyside quant fund"? wanna BS at least learn to use the correct industry terminology |
Quick question, i assume all the figures listed here include whatever allowances / VBs / AWS right? Basically, the entire package a.k.a all-in package?
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