Banks' Pay and Bonuses

Originally Posted by Unregistered

Sell side traders? You mean sell backside traders?

Sell backside? How much per piece?

Hi everyone, reading around this forum really depressing. It seems like I am behind most people in pay & progression.

Already 32 years old this year with 7 years experience in various personal banking jobs since leaving SMU with a business degree. Currently in SCB as a RM in priority banking side.

Now only getting 4.8k monthly include bonus everything only about 68k per annum. Is anyone on the personal banking side can comment? Looks like I am so far behind most bankers here...

Originally Posted by averageguy

Hi everyone, reading around this forum really depressing. It seems like I am behind most people in pay & progression.

Already 32 years old this year with 7 years experience in various personal banking jobs since leaving SMU with a business degree. Currently in SCB as a RM in priority banking side.

Now only getting 4.8k monthly include bonus everything only about 68k per annum. Is anyone on the personal banking side can comment? Looks like I am so far behind most bankers here...

Assuming that your age is between 30-34, according to Salary.sg:
Your income places you at the 77.4th percentile among both genders. You are in the top 22.6% of your cohort.

There's a survivorship-bias here, where a lot of those who are speaking up are those that are doing really well among their peers. There are some who are lying about their salaries too. But the key point here is that you're doing fine. There are many more out there who are jobless and are unable to find jobs. Treasure your job, and at the same time, just keep on the look out for better opportunities.

Originally Posted by averageguy

Hi everyone, reading around this forum really depressing. It seems like I am behind most people in pay & progression.

Already 32 years old this year with 7 years experience in various personal banking jobs since leaving SMU with a business degree. Currently in SCB as a RM in priority banking side.

Now only getting 4.8k monthly include bonus everything only about 68k per annum. Is anyone on the personal banking side can comment? Looks like I am so far behind most bankers here...

That's pretty low salary. Good wake up call for those fresh grads who think all "banker" jobs are the same. My starting salary was 4.5k 3 years ago in an IB, back office.

Originally Posted by Unregistered

Assuming that your age is between 30-34, according to Salary.sg:
Your income places you at the 77.4th percentile among both genders. You are in the top 22.6% of your cohort.

There's a survivorship-bias here, where a lot of those who are speaking up are those that are doing really well among their peers. There are some who are lying about their salaries too. But the key point here is that you're doing fine. There are many more out there who are jobless and are unable to find jobs. Treasure your job, and at the same time, just keep on the look out for better opportunities.

problem is not just here or online. even offline is the same.

those who do well tend to flaunt, take part in social events, post facebook/twittter & talk big while those not doing very well either avoid or keep quiet & smile. when in doubt always check verified gov or 3rd party studies.

one good e.g. is networth. if u read the networth/savings thread over here, almost everyone is claiming to be >$1mil in their mid 30s, but if u read the credit suisse study it says only 1 in 9.5 here is a millionaire. the median net worth is in sg is in fact only ~US$144k

Originally Posted by Unregistered

problem is not just here or online. even offline is the same.

those who do well tend to flaunt, take part in social events, post facebook/twittter & talk big while those not doing very well either avoid or keep quiet & smile. when in doubt always check verified gov or 3rd party studies.

one good e.g. is networth. if u read the networth/savings thread over here, almost everyone is claiming to be >$1mil in their mid 30s, but if u read the credit suisse study it says only 1 in 9.5 here is a millionaire. the median net worth is in sg is in fact only ~US$144k

Yeah, and it can be really demoralizing. Oh well, that's how life works..

Originally Posted by Unregistered

Yeah, and it can be really demoralizing. Oh well, that's how life works..

Or you can see it as motivation and impetus to do better!

anyone able to share about the remuneration at jap banks in sg? (nomura vs mizuho vs smbc etc) thanks!

Originally Posted by Unregistered

problem is not just here or online. even offline is the same.

those who do well tend to flaunt, take part in social events, post facebook/twittter & talk big while those not doing very well either avoid or keep quiet & smile. when in doubt always check verified gov or 3rd party studies.

one good e.g. is networth. if u read the networth/savings thread over here, almost everyone is claiming to be >$1mil in their mid 30s, but if u read the credit suisse study it says only 1 in 9.5 here is a millionaire. the median net worth is in sg is in fact only ~US$144k

for grads in banking the net worth should be higher than the median.

38 and my wife 36 are in banking and our net worth is about $3M

typically a Director/SVP will earn about $20K monthly, so it's quite possible to hit a high net worth with disciplined savings and prudent investments in property and stocks

Originally Posted by averageguy

Hi everyone, reading around this forum really depressing. It seems like I am behind most people in pay & progression.

Already 32 years old this year with 7 years experience in various personal banking jobs since leaving SMU with a business degree. Currently in SCB as a RM in priority banking side.

Now only getting 4.8k monthly include bonus everything only about 68k per annum. Is anyone on the personal banking side can comment? Looks like I am so far behind most bankers here...

i'm 27 drawing 4K with 1year 9 months experience in finance.