Banks' Pay and Bonuses

Originally Posted by Unregistered

Far fetched. Most of the 3k ops workers in baml at 8 years exp still avp making 7-8k. With 0.7 months bonus. Unless you are creme DE LA creme, which obviously isn't everybody...

BofA is not even a mid tier BB and they are known to pay **** in SG. Even local banks are paying 4.5k for ops grad program.

Thoughts on GS ops? Progression & bonus? Thank you!

Originally Posted by Unregistered

Thoughts on GS ops? Progression & bonus? Thank you!

Probably the best paying for Ops across all banks. But you probably work the hardest too.
People average 11 hours a day in GS.

Fastest Possible to reach VP is 5.5 years if you're good; 6.5 to 7.5 if you're decent; never if you are average. Therefore need to be top of your game.

When you hit VP, at least 10k a month. Bonus is a mild bell curve. The top ones can get 2-3 months (yes, it's not fantastic). The worst performing get zero or negative (negative meaning your base can go up, but your year on year bonus drops so much that your overall compensation for the year drops (that's a sign you're on the firing block).

(Currently working/have worked across multiple BBs, including GS/JPM/MS).

Originally Posted by Unregistered

Probably the best paying for Ops across all banks. But you probably work the hardest too.
People average 11 hours a day in GS.

Fastest Possible to reach VP is 5.5 years if you're good; 6.5 to 7.5 if you're decent; never if you are average. Therefore need to be top of your game.

When you hit VP, at least 10k a month. Bonus is a mild bell curve. The top ones can get 2-3 months (yes, it's not fantastic). The worst performing get zero or negative (negative meaning your base can go up, but your year on year bonus drops so much that your overall compensation for the year drops (that's a sign you're on the firing block).

(Currently working/have worked across multiple BBs, including GS/JPM/MS).

how about middle office trade support role in GS? Is the base and bonus better than BO?

The same. Ops is Ops. There is no distinguishment between middle and back office in GS, and they are part of the same bonus pool.

anyone knows what are the exit opps for bank ops? started working since apr in gs mo but its so fking mundane

Network yourself out of ops. if you're smart enough for gs ops, you should be smart enough to know how to get out. if you're not, well.....then perhaps you're suited for ops

Originally Posted by Unregistered

Top-tier: GS/JPM/MS
Mid-tier: Barclays/CS/Citi
Lower-tier: UBS/DB/BofA

CS still considered mid tier nowadays?

is it common to be able to hit 250K/annum total comp after 15 years in a bank?

Originally Posted by Unregistered

is it common to be able to hit 250K/annum total comp after 15 years in a bank?

If say 200-250k is common. Above that maybe not for everyone.