Banks' Pay and Bonuses

Originally Posted by Unregistered

Depends what is the MO role and the BO role respectively. Think it's too premature to judge just based on whether it's middle or bank - and frankly, it doesn't matter too much if you're MO/BO, you are still a cost centre. But hearsay citi has better processes and technology

what about risk related vs settlements? saw opening for these roles

Originally Posted by Unregistered

3 years exp in Ocbc branch rm

The question is what is your last drawn pay and how well did you perform in ocbc

For those in BO/MO functions looking for higher pay, may also want to consider asset management sector? I know some AMs pay better than banks in local and non BB. The work may be tougher as some operate at smaller manpower resource scale, so will need to take more initiatives and of course longer hours. Meanwhile, add on some technical skills to support your BO/MO work experience. Now many roles need you to be like an octopus, to know a little of everything.

Originally Posted by Unregistered

For those in BO/MO functions looking for higher pay, may also want to consider asset management sector? I know some AMs pay better than banks in local and non BB. The work may be tougher as some operate at smaller manpower resource scale, so will need to take more initiatives and of course longer hours. Meanwhile, add on some technical skills to support your BO/MO work experience. Now many roles need you to be like an octopus, to know a little of everything.

How much is considered good for MO or BO? Say by age 30 for males, all in annual package

Originally Posted by Unregistered

How much is considered good for MO or BO? Say by age 30 for males, all in annual package

This is a very wide qn. It depends ultimately on the yrs of experience, the organisation, the exact role, the work involved, the individual performance, etc.
It can range anything between 4K to 8K pm. Bonus really depends on the organisation, and the economy. Ranging from 1 to 5 months or even more.

Even in the financial industry as a whole, the same title "associate" or "avp", may refer to very different level of work. Some avp work and responsibilities may equivalent to vp roles elsewhere, while some avp roles might be an associate level kind of responsibilities. Hence even for the same exact title, same BO/MO functions, the pay can be very different in different organisations.

Originally Posted by Unregistered

How much is considered good for MO or BO? Say by age 30 for males, all in annual package

Not from the finance industry, but I would say anything above 10k per month is considered good?

Originally Posted by Unregistered

Not from the finance industry, but I would say anything above 10k per month is considered good?

10k per month base for a middle office function by that age is probably the top 1% if it were even possible to hit that amount.

Originally Posted by Unregistered

How much is considered good for MO or BO? Say by age 30 for males, all in annual package

Interested too

Originally Posted by Unregistered

10k per month base for a middle office function by that age is probably the top 1% if it were even possible to hit that amount.

Agree - would not support using 10k as a figure for BO/MO at age 25 since this is an anomaly more than anything.

For males who graduated from local u, they start working at around age 25. Can dream if you want to earn 10k after five years of working exp. By age 35 may be more possible.

Would say average for a BO/MO at age 30 should be around 5k - 7k.

I consider myself an average 30 year old male* in the finance industry.

*Got serve 2 years National Service, got a 4 year Bachelor Degree, got between 3 to 5 years of working experience.

I’m earning $5,500 and my personal observation is I see most of my peers are earning similar amounts. To me it’s decent, not fantastic, but not terrible. I will almost surely hit $6,000 (CPF limit) before my 32nd birthday.

If you’re looking for “good”, I would say around 7k at 30 years old.

Just my personal view… almost certain someone will come along to disagree. You are entitled to your views and I will not be replying to anyone or looking to argue.