Feel free to get your back office friend to SIC his 10k salary slip when he hits it someday :)

You dont have to believe it but the reality is shown in the salary scale provided in the mycareersfuture postings. Like someone before said, you can continue living in your "local bank fish tank"

They can quote you the sky. Whether you actually get that or the lower end of the range is another matter.

Hey man, look here. It’s like, a free world.

You can believe whatever you want to believe. It’s not my job to convince you otherwise and I’m not paid to do so.

It’s a lovely afternoon, I’m gonna head out to get some air and food. Cheers mate.

Cool, talk big then run away without substantiating.

Come back another day to try again :)

Funny the story they sell is always my friend or my relative never themselves. Come back when you actually see the payslip.

20k indian rupees ar? Lol.

Doesn't mean it's not true just because it came from their friend. Continue being salty my friend :D

Anyone know how Maybank bonus is like for average performance and how’s the yearly increment?

It might as well have come from their arsehole :)

Better than being stuck in actual assholes like these salty guys LMAO!

I think it's important for anyone to not compare to peers/colleagues and even strangers/trolls in this forum. The world is unfair, some people put in the effort and hard work and reap the rewards, some do the same but turn out average. Some don't even do much but get to enjoy high salary and benefits. Why compare yourself to others when there are many doing way better than you, similarly, many more are also worse off than you.

It's important to compare but with actual data points not rubbish numbers like what you mainly see on here. Else you could be underpaid your whole life and not suspect a thing - companies love workers like these and even heavily extol the "virtues" of salary confidentiality solely for this reason.

But once again, many "rubbish numbers" are actually not rubbish numbers, but many of them just choose not to believe it.. similarly they would be underpaid their whole life

It is important not to be small minded but at the same time not everything can be taken at face value.

Coming to a public forum to brag about your friends 5 figure salary? I think you are the salty one...

I do agree it's important to compare but I think it's the purpose behind wanting to compare. If you want to see what colleagues of with similar experiences, scope are earning, sure. Comparing with friends in another competitor company, sure. All these help in ensuring that you're compensated fairly and competitively. But comparing yourself with strangers online who are just throwing numbers without anything to back it up, not so much.

anyone passed cfa l1?

LOL so many unemployed/undergrads here.

Yes - for JPM/GS/MS, salary ceiling for MO/BO VPs can reach 20k (those who can’t promote but have many YOEs under their belt). At where I’m at, MO/BO EDs start at 18k-19k base min (but depends on YOE when you promoted too) and the salary ceiling at this level is ~30k. Might be more, am not at ED level yet so can’t comment.

Back office reach this 18k amount is after how many years? 20?

two cents
 

i’m 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, i’m sure u guys can tell what’s the truth being said. anyways hope we SIC more and toxic less.

it’s true investment bankers fresh grad in BB may get paid 10k, but if u meet one, u will also know they don’t 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 it’s 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 you’re 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, it’s true JPM doesn’t hav AVP, that’s 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.

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.

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.

Mostly agree with the above. But I think OP figures are dated (since he’s 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).

[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. You’ll have to move if you really want that title bump (eg to HK — APAC HQ). Then again, EDs (MO/BO) have pretty much uncapped salary ceiling (but obviously don’t go higher than 60k/m). Comfortable enough imo

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 — 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.

any idea DBS MD get paid how much? thanks!

im poster above. DBS MD in backend roles like ops or HR or tech

Totally not convincing at all LOL think you should review the facts esp if you are not a fellow BB MO/BO grad yourself lol

How do foreign banks stack up against each other in terms of MO/BO pay scales? My impression is that US banks pay the most, followed by Swiss banks, then other European banks, and lastly Chinese/japanese/other Asian banks. Is this about right?

Not referring to grad prog by the way. Perhaps more towards mid level hires with 5-9 yoe.

The numbers is about right, finally a more realistic post. I echo the same.

Recently I've gotten an offer at scb for a software engineer role.
I've 5+ yoe and this is my first time ever work in a banking/finance industry.

Mentioned being band 6. How does this translate to a grade at other banks (local?) and is that a reasonable grade?

When I mention grade, I'm referring to what I commonly see in other threads such as associate, avp, vp etc.

Being offered 135k annual (12+3 bonus). Is that a decent offer for a role at a bank? (would be comparing to other banks in Singapore with similar YOE and role, e.g dbs etc.)

Just sharing my info - I worked in American BB for 6 years in operations, left as an AVP at 7k, just nice completed the 6th year. It is pretty damn rare for anyone in ops to make 10k or more in 5 -7 years. I'm glad I'm out of operations, salary almost doubled after moving to FO.

Did you have other work experience prior to ur 6 yrs in ops? How was the yearly increment avg % like?

Good for you if you like FO for the higher pay.

Not everyone can get into FO. Even if it is 7K in ops, I don't think is too worse off.

That's about 9k per month which is decent for experienced hire, just need to factor in work life balance.