Salary.sg Forums

Salary.sg Forums (https://forums.salary.sg/)
-   Income and Jobs (https://forums.salary.sg/income-jobs/)
-   -   Banks' Pay and Bonuses (https://forums.salary.sg/income-jobs/5211-banks-pay-bonuses.html)

Unregistered 01-06-2015 09:36 AM

The downs is strong in this one.

Quote:

Originally Posted by Unregistered (Post 67433)
What a ****ing cunt of a loser who doesn't know **** or anyone in those circles.

Really hopeless. Asset management ISN'T paid the same as IB. HHHAHAHAHHAA. Real joke.

I dare you to verify your claims. Stop repeating lame ****, ****ing poser.


Unregistered 01-06-2015 10:25 AM

Quote:

Originally Posted by Unregistered (Post 67488)
I would actually argue that alot of bankers have transferable skills to hedge funds...especially HFs that employ a fundamental bottom up strategy. In fact, investment bankers have MORE transferable skills compared to traders. If you're a trader in say a macro product such as FX or rates, then yes...perhaps a role in a macro fund would be perfect but in almost all other HFs that employ a different strategy, bankers have the better skill set to transfer. A sell-side trader mainly trades flow and manages risk; very little detailed security analysis involved...how is that transferable at all to a non-macro oriented HF?

I'm not sure I agree with this. Sell-side traders also do detailed analysis of securities, and are way more versatile than most ibankers than I know.

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.

Unregistered 01-06-2015 03:31 PM

Quote:

Originally Posted by Unregistered (Post 67433)
What a ****ing cunt of a loser who doesn't know **** or anyone in those circles.

Really hopeless. Asset management ISN'T paid the same as IB. HHHAHAHAHHAA. Real joke.

I dare you to verify your claims. Stop repeating lame ****, ****ing poser.


Quote:

Originally Posted by Unregistered (Post 67440)
So angry for what? Why take it so personally? Was that your pride and ego speaking?


It was his ignorance speaking.

Unregistered 01-06-2015 05:31 PM

Quote:

Originally Posted by Unregistered (Post 67495)
I'm not sure I agree with this. Sell-side traders also do detailed analysis of securities, and are way more versatile than most ibankers than I know.

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.

Don't mean to be rude here and I understand where you're coming from but we definitely do not cover securities in detail on a daily basis and we are, contrary to popular belief, less versatile and more specialized than the average investment banker. As a sell side trader, one is usually specialized in trading flow (rarely prop these days with the volcker rule) for a SINGLE security (i.e. Morgan Stanley's 10 year bond on the IG desks which is under the overarching credit "department")...you tend to take risks and manage inventory day to day for that one particular security/fx pair/whatever you're assigned to trade. We definitely do little to no modeling type work (structuring does more but even then, they are modeling to price exotics mainly rather than your clear cut company valuations).

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.

Unregistered 04-06-2015 01:34 AM

Quote:

Originally Posted by Unregistered (Post 67492)
The downs is strong in this one.

HAHAHAHAHA that's a great way to put it!

Unregistered 04-06-2015 04:34 PM

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.

Unregistered 04-06-2015 06:10 PM

Quote:

Originally Posted by Unregistered (Post 67633)
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.

So bitter.

villan 04-06-2015 07:16 PM

anyone knows what the salary of an associate in SCB ‎Strategic Planning dept?

Unregistered 04-06-2015 07:46 PM

Strategic salary

Unregistered 04-06-2015 10:07 PM

Quote:

Originally Posted by Unregistered (Post 67495)
I'm not sure I agree with this. Sell-side traders also do detailed analysis of securities, and are way more versatile than most ibankers than I know.

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.

Sell side traders? You mean sell backside traders?

Unregistered 04-06-2015 10:24 PM

Quote:

Originally Posted by Unregistered (Post 67657)
Sell side traders? You mean sell backside traders?

Sell backside? How much per piece?

averageguy 05-06-2015 09:20 AM

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...

Unregistered 05-06-2015 09:30 AM

Quote:

Originally Posted by averageguy (Post 67666)
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...

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.

Unregistered 05-06-2015 02:12 PM

Quote:

Originally Posted by averageguy (Post 67666)
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...

That's pretty low salary. Good wake up call for those fresh grads who think all "banker" jobs are the same. My starting salary was 4.5k 3 years ago in an IB, back office.

Unregistered 05-06-2015 04:35 PM

Quote:

Originally Posted by Unregistered (Post 67668)
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.

problem is not just here or online. even offline is the same.

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

Unregistered 05-06-2015 08:27 PM

Quote:

Originally Posted by Unregistered (Post 67699)
problem is not just here or online. even offline is the same.

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

Yeah, and it can be really demoralizing. Oh well, that's how life works..

Unregistered 06-06-2015 02:41 PM

Quote:

Originally Posted by Unregistered (Post 67710)
Yeah, and it can be really demoralizing. Oh well, that's how life works..

Or you can see it as motivation and impetus to do better!

Unregistered 07-06-2015 10:05 PM

anyone able to share about the remuneration at jap banks in sg? (nomura vs mizuho vs smbc etc) thanks!

Unregistered 08-06-2015 12:43 AM

Quote:

Originally Posted by Unregistered (Post 67699)
problem is not just here or online. even offline is the same.

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


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

Unregistered 09-06-2015 02:07 PM

Quote:

Originally Posted by averageguy (Post 67666)
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...

i'm 27 drawing 4K with 1year 9 months experience in finance.

Unregistered 09-06-2015 03:19 PM

Quote:

Originally Posted by Unregistered (Post 67668)
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.

Unregistered 09-06-2015 05:43 PM

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.

Unregistered 09-06-2015 05:44 PM

Quote:

Originally Posted by Unregistered (Post 67874)
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

Unregistered 10-06-2015 02:54 PM

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.

Unregistered 10-06-2015 03:43 PM

Quote:

Originally Posted by Unregistered (Post 67935)
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.

Unregistered 10-06-2015 08:57 PM

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

Unregistered 11-06-2015 03:31 PM

Quote:

Originally Posted by Unregistered (Post 67940)
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.

Unregistered 11-06-2015 07:54 PM

Quote:

Originally Posted by Unregistered (Post 67801)
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

Unregistered 11-06-2015 09:56 PM

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

Unregistered 12-06-2015 08:44 AM

Quote:

Originally Posted by Unregistered (Post 68017)
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.

Unregistered 12-06-2015 10:37 AM

Quote:

Originally Posted by Unregistered (Post 67874)
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.

100k a year in mid 30s is a lot?

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.

Unregistered 12-06-2015 10:42 AM

Quote:

Originally Posted by Unregistered (Post 68021)
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.

[s://.iras.gov.sg/IRASHome/Publications/Statistics-and-Papers/Tax-Statistics/#IIT[/

300k is not even 5% of the population. if you exclude the expats who are mostly earning >$100k you will prob get like ~3% of the population earning >$100k. $10k a month if include bonus needs total >$150k which probably takes off another 1%.

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.

Unregistered 12-06-2015 10:55 AM

Quote:

Originally Posted by Unregistered (Post 68042)
300k is not even 5% of the population. if you exclude the expats who are mostly earning >$100k you will prob get like ~3% of the population earning >$100k. $10k a month if include bonus needs total >$150k which probably takes off another 1%.

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.

Assessed Income Group Number of Taxpayers
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?

Unregistered 12-06-2015 12:14 PM

Quote:

Originally Posted by Unregistered (Post 68042)
300k is not even 5% of the population. if you exclude the expats who are mostly earning >$100k you will prob get like ~3% of the population earning >$100k. $10k a month if include bonus needs total >$150k which probably takes off another 1%.

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.

Not for you to believe or not, the numbers are there to show and there plenty of people (more than what you have calculated) earning more than sgd10k per month. Wake up!

Unregistered 13-06-2015 02:54 PM

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.

Unregistered 13-06-2015 03:02 PM

>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:

Originally Posted by Unregistered (Post 68100)
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.


Unregistered 13-06-2015 03:09 PM

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

Unregistered 13-06-2015 03:15 PM

Quote:

Originally Posted by Unregistered (Post 68101)
>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.

Never mind lah, no need to burst the bubble for those who prefer to believe and find peace in thinking that >100k in early 30s is BS.

Unregistered 13-06-2015 03:15 PM

Quote:

Originally Posted by Unregistered (Post 68103)
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

yea yea, so 6 school mates of yours just happily share with you their exact basic salary & bonus for the year...

and seriously wtf is a "buyside quant fund"? wanna BS at least learn to use the correct industry terminology

Unregistered 13-06-2015 05:35 PM

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?


All times are GMT +8. The time now is 09:00 AM.

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