100k for Assistant Private Banker

There is a job notice in www.eFinancialCareers.sg that offers a $100k per annum salary for an Assistant Private Banker position.

The job scope entails providing administrative and sales support. In other words, the successful applicant will just in effect be a secretary of a private banker. Not much work, I suppose?

I'm beginning to doubt my scepticism on a 6-figure monthly pay of private bankers.



http://www.salary.sg/2007/100k-for-a...rivate-banker/

$100k/year working merely as an "assistant"?!

If you have noticed the requirements, it is said to be "Good Degree from a reputable university", which I interpret as "Good Degree from an Ivy League"

Anyway, good senior private bankers need more than 3 - 5 years of experience. It's no wonder they are paying that much, so as to groom this assistant into a private banker himself.

jiante, why would Ivy Leaguers settle for an assistant position? Those without scholarship bonds would have easily gotten investment banking jobs. Those who have finished serving bonds may shoot for this job, but the biggest stumbling block for them is that they lack relevant experience (what they have is 6 to 8 years worth of mostly unrelated experience). Maybe those returning on mom-pop scholarships from decent b-schools are likely candidates.

It states you need strong understanding of financial products. This shows they are not looking for the average admin assistant. Probably groomed to be a private banker in time to come.

Seriously there is no need to worry much about what was required in the ad. The decision on which they will decide at the interviews will usually be decided on the persons they like rather than those mentioned abilites and skills. It is rather not on what they know or knew but rather what they have visibles. The rest can be trained. If you have these traits - a pleasant look or good-look for the job, a vocab skill to speak properly, the verbal skill to articulate well, a gracious manners to project a good image,etc. If these atrributes are found, they will bring forth $100K to the table.

True.

I guess they have the intentions to groom this Assistant to eventually a Private Banker. What the labour market is lacking now is the shortage between the right kind of talent for the job and what is out there.

To the right candidate: the job might not be that interesting as he/she has already done that. that is why companies has to evolve and make the role interesting. This can be achieved in terms of making the environment cohesive and fun to work in.

Unless it's a sales role, i guess to motivate solely by monetary terms.. it's quite hard to retain.

Don't look down on secretaries. The most senior people in Governments are also called Secretaries. US Secretary of State for e.g.