Banks' Pay and Bonuses

Originally Posted by Unregistered

what hires would be able to command the upper range of the inflated AVP/VP ranks? such as drawing 8k for AVP and 10k as VP?

im currently drawing 8k as AVP in another bank, just wondering how its mapped over.

If you are joining from another bank, the usual applies which is benchmarking to your last drawn. If you are home grown, these are the super senior citizens who do not want or can’t progress to the next level, they will keep getting the increment till it’s capped at the level.

8k AVP for you, I supposed you are either with DBS or Citi, assuming you are somewhere in 20s or 30s?

Originally Posted by Unregistered

If you are joining from another bank, the usual applies which is benchmarking to your last drawn. If you are home grown, these are the super senior citizens who do not want or can’t progress to the next level, they will keep getting the increment till it’s capped at the level.

8k AVP for you, I supposed you are either with DBS or Citi, assuming you are somewhere in 20s or 30s?

I see. So I guess it'll make more sense to join at the lower end of a higher rank's pay scale (if possible of course).

I'm in a European setup. Late 20s going 30s q soon yep.

Hi would like to hear some insights for salary benchmarking.

For a 2nd / 3rd line of defence role in a bank with about 7-9 YOE, how much salary are you receiving ?

Originally Posted by Unregistered

Hi would like to hear some insights for salary benchmarking.

For a 2nd / 3rd line of defence role in a bank with about 7-9 YOE, how much salary are you receiving ?

both in same local bank and haven't changed job for past 4 years, thus can possibly add another 20% if factoring in a job switch.

9 year AML experience with 8-9k
10 year audit experience with 10-11k

Originally Posted by Unregistered

Sharing some info, I believe UOB and HSBC titles are inflated at AVP and VP levels

UOB
AVP 4.4-8k
VP1 5.5-9k
VP2 7-11k
FVP 8-12k
SVP 11-17k
ED 13-20k

HSBC
AVP 4.5k to 8k
VP 6k to 10k
SVP 9k-17k

my friend joined as AVP FO last year getting close to 10k. is this usual for FO in local bank?
I know some banks and big 4 accounting firm will offer higher to attract candidates but future increase will be lower than normal.

How many months is bonus in a local bank and also in international banks? Is there a big discrepancy?

Originally Posted by Unregistered

my friend joined as AVP FO last year getting close to 10k. is this usual for FO in local bank?
I know some banks and big 4 accounting firm will offer higher to attract candidates but future increase will be lower than normal.

How many yoe was ur friend?

Originally Posted by Unregistered

How many yoe was ur friend?

10k is analyst in FO... Not AVP. I'm in foreign bank AVP, base already 175k. Unless your friend joined some Asian bank like ctbc or locals.

Originally Posted by Unregistered

I have been in digital and banking for more than 20 years, having worked in local banks (OC, DBS, UOB) and also international banks (CS, Citi, HSBC), and i can tell you these:

- AVP (6 - 8K) [5 - 10 years of experience]
- VP (8 -12K) [8 - 15 years of experience]
- SVP (12 - 20K) [12 - 20 years of experience]
- ED (18 - 25K)
- MD (20- 50K)

Bonus are typically 1-2 months in local banks, and 2 - 3 in international banks. Well, DBS is paying like international banks, while Citi bonus is known to be S**T.

Bands moved at DBS esp for tech side or mid office.

AVP can go up to 11k, VP is 10-20+ (for exceptional cases) monthly and much higher bonus. Think 4-8 months.

Originally Posted by Unregistered

Bands moved at DBS esp for tech side or mid office.

AVP can go up to 11k, VP is 10-20+ (for exceptional cases) monthly and much higher bonus. Think 4-8 months.

What's the avg experience required for AVP and VP in DBS?