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  #341 (permalink)  
Old 17-09-2021, 02:48 AM
mytwocents
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Smile two cents

iím in the banking industry for about 9 years MO. hopped from local to a BB then to a small foreign bank. typing this cause on leave tmrw and returning good deeds by sharing info.

by researching this forum and glassdoor, iím sure u guys can tell whatís the truth being said. anyways hope we SIC more and toxic less.

itís true investment bankers fresh grad in BB may get paid 10k, but if u meet one, u will also know they donít have much time to even spend it. they are also minimally first class honours from local uni and have to pass gruelling MA interviews. so itís true but highly unlikely and only for IB in BB (no other MA roles will pay u 10k straight out of uni).

BO/MO: starting salary at BB 4k+ is definitely possible. Even OCBC or UOB are paying at least 3k for fresh grads (just ask around)..

BO/MO: salary after 5 years? my estimate is 5-7k if ur foreign bank. depends on how many promotions and salary increments. if youíre good, twice promotion maybe 20% to 30% each time. local bank salary is low prolly 5k after 5 years is average (normal progression), but their bonuses are much better.

back to the contentious point being debated:
10k for MO role after 5 years in a BB (fresh grad) is highly unlikely. UNLESS ur a MA program, or ur linked to a revenue generation MO team ie structured product team, or ur salary increment was 20% every single year without fail on average despite all banks having one or two bad economic years. Again, sounds unlikely or u left out some other information such as YOE.. In any case, if u achieved it congrats, defo no easy fear. but folks here are asking for the reasonable range, not an unlikely outlier range. spread the kindness bruh

keep sharing and stop the toxicity!

cheers guys.

FYI, itís true JPM doesnít hav AVP, thatís why their senior associate salary can hit 10k too.. personal experience).

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  #342 (permalink)  
Old 17-09-2021, 10:26 AM
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Quote:
Originally Posted by mytwocents View Post
iím in the banking industry for about 9 years MO. hopped from local to a BB then to a small foreign bank. typing this cause on leave tmrw and returning good deeds by sharing info.

by researching this forum and glassdoor, iím sure u guys can tell whatís the truth being said. anyways hope we SIC more and toxic less.

itís true investment bankers fresh grad in BB may get paid 10k, but if u meet one, u will also know they donít have much time to even spend it. they are also minimally first class honours from local uni and have to pass gruelling MA interviews. so itís true but highly unlikely and only for IB in BB (no other MA roles will pay u 10k straight out of uni).

BO/MO: starting salary at BB 4k+ is definitely possible. Even OCBC or UOB are paying at least 3k for fresh grads (just ask around)..

BO/MO: salary after 5 years? my estimate is 5-7k if ur foreign bank. depends on how many promotions and salary increments. if youíre good, twice promotion maybe 20% to 30% each time. local bank salary is low prolly 5k after 5 years is average (normal progression), but their bonuses are much better.

back to the contentious point being debated:
10k for MO role after 5 years in a BB (fresh grad) is highly unlikely. UNLESS ur a MA program, or ur linked to a revenue generation MO team ie structured product team, or ur salary increment was 20% every single year without fail on average despite all banks having one or two bad economic years. Again, sounds unlikely or u left out some other information such as YOE.. In any case, if u achieved it congrats, defo no easy fear. but folks here are asking for the reasonable range, not an unlikely outlier range. spread the kindness bruh

keep sharing and stop the toxicity!

cheers guys.

FYI, itís true JPM doesnít hav AVP, thatís why their senior associate salary can hit 10k too.. personal experience).
Good post. The numbers sound about right. Though nowadays even second upper can get into IB roles with sufficient internship experience.

No idea why the siaolangs here keep trying to put each other down. The only winners in these pointless squabbles are ironically your employers, who are able to continue underpaying you the longer you live in ignorance about what the actual range of salaries is for your role and YOE.

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  #343 (permalink)  
Old 17-09-2021, 10:39 AM
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Originally Posted by Unregistered View Post
Back office reach this 18k amount is after how many years? 20?
Seen locals (high flyers) reach ED in ~12 years. Have also witnessed those from the grad programme (6 out of 7 of them) promoted to VP (drawing 10k and up) after less than 7 years. Note this is for top tier BBs.

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  #344 (permalink)  
Old 17-09-2021, 10:42 AM
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Should always be on the lookout for better offers every 3 to 4 years, no need to commit to a single bank for the measly yearly increments.
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  #345 (permalink)  
Old 17-09-2021, 10:43 AM
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Quote:
Originally Posted by mytwocents View Post
iím in the banking industry for about 9 years MO. hopped from local to a BB then to a small foreign bank. typing this cause on leave tmrw and returning good deeds by sharing info.

by researching this forum and glassdoor, iím sure u guys can tell whatís the truth being said. anyways hope we SIC more and toxic less.

itís true investment bankers fresh grad in BB may get paid 10k, but if u meet one, u will also know they donít have much time to even spend it. they are also minimally first class honours from local uni and have to pass gruelling MA interviews. so itís true but highly unlikely and only for IB in BB (no other MA roles will pay u 10k straight out of uni).

BO/MO: starting salary at BB 4k+ is definitely possible. Even OCBC or UOB are paying at least 3k for fresh grads (just ask around)..

BO/MO: salary after 5 years? my estimate is 5-7k if ur foreign bank. depends on how many promotions and salary increments. if youíre good, twice promotion maybe 20% to 30% each time. local bank salary is low prolly 5k after 5 years is average (normal progression), but their bonuses are much better.

back to the contentious point being debated:
10k for MO role after 5 years in a BB (fresh grad) is highly unlikely. UNLESS ur a MA program, or ur linked to a revenue generation MO team ie structured product team, or ur salary increment was 20% every single year without fail on average despite all banks having one or two bad economic years. Again, sounds unlikely or u left out some other information such as YOE.. In any case, if u achieved it congrats, defo no easy fear. but folks here are asking for the reasonable range, not an unlikely outlier range. spread the kindness bruh

keep sharing and stop the toxicity!

cheers guys.

FYI, itís true JPM doesnít hav AVP, thatís why their senior associate salary can hit 10k too.. personal experience).
Mostly agree with the above. But I think OP figures are dated (since heís speaking from his past 9 years of exp).

Fresh grad programme salaries for MO/BO figures are higher now (even local banks are paying >4k).
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  #346 (permalink)  
Old 17-09-2021, 10:46 AM
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[s://i.gyazo.com/dfb27e074900075952bfa562c72ebc2f.png[/

MD approx 60k per month, including allowance.
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  #347 (permalink)  
Old 17-09-2021, 10:52 AM
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Originally Posted by Unregistered View Post
[s://i.gyazo.com/dfb27e074900075952bfa562c72ebc2f.png[/

MD approx 60k per month, including allowance.
Headcount for MDs in JP Singapore is really really Low (esp for MO/BO). You have to be exceptional. Youíll have to move if you really want that title bump (eg to HK ó APAC HQ). Then again, EDs (MO/BO) have pretty much uncapped salary ceiling (but obviously donít go higher than 60k/m). Comfortable enough imo
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  #348 (permalink)  
Old 17-09-2021, 10:54 AM
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Quote:
Originally Posted by Unregistered View Post
Seen locals (high flyers) reach ED in ~12 years. Have also witnessed those from the grad programme (6 out of 7 of them) promoted to VP (drawing 10k and up) after less than 7 years. Note this is for top tier BBs.
Wow which disneyland bank is this? Every batch 6/7 get promoted to VP, so songs I also want to join
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  #349 (permalink)  
Old 17-09-2021, 10:57 AM
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Wow which disneyland bank is this? Every batch 6/7 get promoted to VP, so songs I also want to join
Not every batch, just for 2021 promotion cycle (batch of 2014). GS/JPM/MS ó one of this.
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  #350 (permalink)  
Old 17-09-2021, 11:04 AM
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Not every batch, just for 2021 promotion cycle (batch of 2014). GS/JPM/MS ó one of this.
This batch so exceptional ah? Hired 6 winners and 1 loser. The HR/line managers responsible for hiring them should be commended.
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