Banks' Pay and Bonuses

Originally Posted by Unregistered

Not sure what the exact figures are for local students but all the bulge brackets that operate here tend to hire aggressively from top schools from outside of Singapore (ivies and top US/European/Canadian universities). I think it's inherently easier to get hired by a BB if you study at a top university elsewhere. If you're a local student in a front office function at a bulge bracket, you'll not only be competing against other top local students but also top students from around the world...period.

Please lah, that's what everyone says but they don't know how well local grads place.

This whole "competition against top students around the world" has been overblown. Trust me, MORE than enough deserving local grads with second uppers and NO fantabulous CCA records have made it to these internships/positions. I would list names, but a lot of them are my peers and friends. A simple LinkedIn search would suffice but I assure you, LOCAL grads DO make it to the Front office. And no, they are not FCH, top of the top blah blah nonsense crap that these forums like to mystify them to be.

They are your regular, hardworking students who WANT such careers and made efforts to strive in that direction. NOT everyone in a local uni wants to do banking, or FO work. Those who do, and who put in the necessary effort usually get it.

If you enter a local uni, you will have bulge bracket banks coming down for recruitment talks. A good number are very open to interacting with the students, and the alumni network is also decently strong.

Of course, I will agree that ivies and lse/oxbridge do well, but the local grads who put in the effort to network and work hard by getting good grades... its manageable. Certainly not something that is impossible; in fact, some of the students, in my honest opinion, are just very mediocre individuals who follow a cookie-cutter template.

[immemorial]

The internship pay for BB FO to be exact is 9.6k. Citi however, dropped that amount for S&T.

To clarify, banks in sg do hire from ivies and oxbridge but these are usually about 20% to 30% or internal hiring. Local grads are quite sought after in Asia. BBs and even top investment firms from HK/China come to SG to do their hiring. I have quite a few friends who are moving to HK for their summer internships.

Wrong, AM pay is also not 9.6k.

It's more like 8.5k. I am not sure about equity research though, anyone care to clarify?

Originally Posted by Unregistered

Wrong, AM pay is also not 9.6k.

It's more like 8.5k. I am not sure about equity research though, anyone care to clarify?

Wrong, previous comment about the compensation (9.6k) in front office positions at bulge brackets is correct. Why is this so hard to believe? We are talking about the biggest banks here...

Asset management isn't paid the same as investment banking! Why is that so hard to believe?!

I know of friends who interned in JPM AM. Please don't smoke crap, not all FO positions are paid the same. And yes, I even know that JPM revised their IBD summer salary for interns to 10k (up from 9.6k).

Originally Posted by Unregistered

Asset management isn't paid the same as investment banking! Why is that so hard to believe?!

I know of friends who interned in JPM AM. Please don't smoke crap, not all FO positions are paid the same. And yes, I even know that JPM revised their IBD summer salary for interns to 10k (up from 9.6k).

Wrong, previous comment about the compensation (9.6k) in front office positions at bulge brackets is correct. Why is this so hard to believe? We are talking about the biggest banks here...

Are you kidding me?

Asset management (and even wealth management) isn't paid the same. Must be another kuku bird who isn't in FO.

grad in 2013 and worked for about 1.5yrs within risk/compliance area.. currently drawing 4.5 with bonuses avging 2-3mths.

was wondering how long would it take to be earning in the 6-7k bracket on avg for a sg male?

btw, true blue sg male here w/ ns obligations

Originally Posted by Unregistered

Are you kidding me?

Asset management (and even wealth management) isn't paid the same. Must be another kuku bird who isn't in FO.

Wrong, previous comment about the compensation (9.6k) in front office positions at bulge brackets is correct. Why is this so hard to believe? We are talking about the biggest banks here... Must be another kuku bird who isn't in FO.