Retrenched Investment Bankers (Where do they go to?) - Page 3 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Retrenched Investment Bankers (Where do they go to?)

Reply
 
Thread Tools
  #21 (permalink)  
Old 08-04-2017, 06:28 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I am in a similar situation but still not retired yet at 49. Do you have a family to support when you retire at age 43? What do you think is a comfortable networth for one to call it a day and retire in Singapore?
Depends. If you want to live a decent upper middle classlife style bare minimum should be $5 million...

Reply With Quote
  #22 (permalink)  
Old 08-04-2017, 07:01 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Depends. If you want to live a decent upper middle classlife style bare minimum should be $5 million...
Thanks, $5 million is a number that I have heard from other retirees too. I suppose if one can earn 5% investment return, then $250k per annum will be a comfortable amount to live a "upper middle class life style" as you mentioned. Unfortunately, my investment return averaged 3% to 4% for the past decade and so I will need a larger capital amount to generate the $250k a year passive income stream. You were smart enough to invest in multiple investment properties early on while I have been patiently waiting for property prices to come down since 2010 and holding on to too much cash, which dragged down the return of my portfolio.

Reply With Quote
  #23 (permalink)  
Old 08-04-2017, 10:25 PM
Unregistered
Guest
 
Posts: n/a
Default

Theory and real life can be and usually are a world apart.

Theory says if your NW is $5m and you invest it for 5% return, you will get $250k a year to live on happily.

Real life: NW is $5m

Primary home : $1.5M (may appreciate in value over time but not giving cash flow yearly)
CPF : as eg. MA = $104k (couple), SA = $350k (couple), OA = $500k (couple)
Assuming below 55 yo, total held up in CPF = ~ $1m

Emergency cash :$100k
Stocks : $1.4m (spread over various stocks from high risk-high return and low risk-low returns)
Average ROI from stocks ~ 5% or $70k dividends pa.

Investment property at $1m
Rental income : $30k pa nett.

Total cash flow per year = $100k

If the above sounds realistic, it is because it is.

We are above 55 and upon reaching 55, our yearly CPF interests are available for withdrawal.

In our case, our NW is well above $6M and our passive income is only $150k pa for use (including CPF interest). If you really want $250k passive income, before you reach 55, the $5m should be investible net worth (not including your home and not including money in your CPF). In short, you need a total NW of no less than $6.5M to $7M!

Now you know why we are not retiring yet.


Quote:
Originally Posted by Unregistered View Post
Thanks, $5 million is a number that I have heard from other retirees too. I suppose if one can earn 5% investment return, then $250k per annum will be a comfortable amount to live a "upper middle class life style" as you mentioned. Unfortunately, my investment return averaged 3% to 4% for the past decade and so I will need a larger capital amount to generate the $250k a year passive income stream. You were smart enough to invest in multiple investment properties early on while I have been patiently waiting for property prices to come down since 2010 and holding on to too much cash, which dragged down the return of my portfolio.



Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #24 (permalink)  
Old 09-04-2017, 12:02 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Theory and real life can be and usually are a world apart.

Theory says if your NW is $5m and you invest it for 5% return, you will get $250k a year to live on happily.

Real life: NW is $5m

Primary home : $1.5M (may appreciate in value over time but not giving cash flow yearly)
CPF : as eg. MA = $104k (couple), SA = $350k (couple), OA = $500k (couple)
Assuming below 55 yo, total held up in CPF = ~ $1m

Emergency cash :$100k
Stocks : $1.4m (spread over various stocks from high risk-high return and low risk-low returns)
Average ROI from stocks ~ 5% or $70k dividends pa.

Investment property at $1m
Rental income : $30k pa nett.

Total cash flow per year = $100k

If the above sounds realistic, it is because it is.

We are above 55 and upon reaching 55, our yearly CPF interests are available for withdrawal.

In our case, our NW is well above $6M and our passive income is only $150k pa for use (including CPF interest). If you really want $250k passive income, before you reach 55, the $5m should be investible net worth (not including your home and not including money in your CPF). In short, you need a total NW of no less than $6.5M to $7M!

Now you know why we are not retiring yet.
Thanks I agree it is better to be conservative in retirement planning than to come back to the work force after retiring for a few years and find money not enough. You may not even be able to find a job by that time! That is why I am still working even though my NW is above $5m not because of greed but more due to prudence. For you as a couple (assuming your kinds have all grown up and on their own), what would be the amount of passive income that you would be aiming before calling it quits?
Reply With Quote
  #25 (permalink)  
Old 09-04-2017, 06:06 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I am really surprised to read that investment bankers and senior bankers are earning only $12k to $14k pm. Thought they were all boasting that they earn big bucks.

If $12k to $14k pm was their actual salaries then many are really living beyond their means.

So would you prefer "High" salaries but short shelf life or slow but steady progression till retirement at 55 or 65.

I am in the slow but steady type of profession. Starting salary was really low (below $2k) and current pay above those investment and senior bankers and into my 32nd year of work.

Because of the initial low salary, I built up the habit of frugal and simple living. We currently own 2 condos and 2 cars (mass market type, nothing fancy) and our passive income is $150k pa.
dont want to burst your bubble but SG$12k-14k is the starting pay for investment banking fresh grads at most bulge brackets like jpm ms gs barclays ubs cs and even MMs like hsbc don't pay too far off. it is the industry standard. the previous poster was likely referring to a sales person (probably a senior personal banker at a retail bank, or perhaps an A3/associate working in the sales and trading division of a bulge bracket). investment banking does pay among the top of all salaried jobs in the universe... an acquaintance of mine got poached 2 years out of university from a bulge to a top boutique, think HL/greenhill/moelis. slightly over 20k monthly, base.

the previous posters are right that you can easily retire in your mid 30s comfortably if you lead a normal lifestyle, you don't even have to be frugal. but i don't think it ever happens cuz young ppl these days just want to show off. and showing off is the only way you get to hang with the big boys, especially if you wanna be in IBD for the long haul.
Reply With Quote
  #26 (permalink)  
Old 26-04-2017, 06:20 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
dont want to burst your bubble but SG$12k-14k is the starting pay for investment banking fresh grads at most bulge brackets like jpm ms gs barclays ubs cs and even MMs like hsbc don't pay too far off. it is the industry standard. the previous poster was likely referring to a sales person (probably a senior personal banker at a retail bank, or perhaps an A3/associate working in the sales and trading division of a bulge bracket). investment banking does pay among the top of all salaried jobs in the universe... an acquaintance of mine got poached 2 years out of university from a bulge to a top boutique, think HL/greenhill/moelis. slightly over 20k monthly, base.

the previous posters are right that you can easily retire in your mid 30s comfortably if you lead a normal lifestyle, you don't even have to be frugal. but i don't think it ever happens cuz young ppl these days just want to show off. and showing off is the only way you get to hang with the big boys, especially if you wanna be in IBD for the long haul.
Isn't Houlihan Lokey considered MM?
Reply With Quote

  #27 (permalink)  
Old 29-04-2017, 06:01 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Isn't Houlihan Lokey considered MM?
think MM is more like a catchall term for anything you cannot classify as a bulge or elite boutique. like hsbc or nomura, like they're definitely not BBs but neither are they boutique. the line is never clear because MM is supposed to suggest smaller (literally middle market) deal sizes on average but some elite boutiques do both megadeals and MM deals. granted HL is often classified as MM but they command so much respect these days i put them on the same level as an elite boutique
Reply With Quote
  #28 (permalink)  
Old 29-04-2017, 06:58 PM
Unregistered
Guest
 
Posts: n/a
Default

The very successful IBs will just retire and enjoy life. They made so much fortune so why worry about finances. Retrenched engineers will become taxi or Uber drivers.


Quote:
Originally Posted by Water View Post
Hi everyone, I'm curious if anyone has any idea where do retrenched investment bankers in Singapore usually end up at? I've heard from news sources quite frequently that numerous have been retrenched due to the unfavourable market in South-East Asia.

I would imagine that investment bankers would typically be highly driven and smart, and thus would seek great alternatives around. I've also read recently in an article that an Investment Banking Director opened up his own website as he could not find any other IB jobs around. He also mentioned about the tough market conditions, and that he knows of others who also could not find jobs.

I'm wondering if anyone here has any stories to share?


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #29 (permalink)  
Old 02-05-2017, 02:05 PM
Unregistered
Guest
 
Posts: n/a
Default

For curiosity's sake, what is the overall annual compensation to be expected for a year 1 analyst doing M&A at a bulge bracket?
Reply With Quote
  #30 (permalink)  
Old 02-05-2017, 02:52 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
For curiosity's sake, what is the overall annual compensation to be expected for a year 1 analyst doing M&A at a bulge bracket?
Minimum of SGD 120k. If your desk does well, expect a 3 month bonus at least.
Reply With Quote
Reply

Bookmarks

Tags
boutique bank, entrepreneurship, finance, hedge fund, ibd, investment banker, investment banking, local bank, regional bank

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Property Investment sunnyoho Market Talk 1 01-03-2019 12:04 AM
OCBC young bankers' prog vs DBS MA prog toto Income and Jobs 20 04-03-2017 04:52 PM
OCBC Young Bankers Programme hashbrowntime Income and Jobs 0 16-01-2015 05:07 AM
Serious Qns for Bankers from a student-IB FO, hedge funds, PE etc SMayC Income and Jobs 28 11-03-2014 05:24 PM
Know Anyone Retrenched? Salary.sg Income and Jobs 21 19-09-2009 02:26 PM

» 30 Recent Threads
Hospital (Private or Public)... ( 1 2 3... Last Page)
172 Replies, 62,019 Views
Roles in accenture singapore ( 1 2 3... Last Page)
4,283 Replies, 878,586 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
867 Replies, 597,000 Views
For those with 2-5 YOE, what is... ( 1 2 3... Last Page)
858 Replies, 176,039 Views
is this tech job normal? ( 1 2 3... Last Page)
41 Replies, 4,525 Views
NUS (National University of... ( 1 2 3... Last Page)
202 Replies, 159,521 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
7,709 Replies, 2,259,744 Views
Lawyer Salary ( 1 2 3... Last Page)
16,880 Replies, 6,242,836 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,515 Replies, 1,973,264 Views
UBS Financial Services Industry... ( 1 2 3... Last Page)
706 Replies, 220,182 Views
Compare civil service salary ( 1 2 3... Last Page)
14,014 Replies, 8,690,360 Views
ST Electronics ( 1 2 3... Last Page)
2,748 Replies, 820,312 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,141 Replies, 501,079 Views
GovTech ( 1 2 3... Last Page)
3,032 Replies, 794,012 Views
High Finance Thread ( 1 2 3... Last Page)
885 Replies, 226,223 Views
DBS tech seed programme ( 1 2 3... Last Page)
2,010 Replies, 525,124 Views
Management Consultant in Singapore ( 1 2 3... Last Page)
33 Replies, 68,565 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
3,848 Replies, 2,801,247 Views
Career as Teacher ( 1 2 3... Last Page)
5,436 Replies, 3,380,536 Views
UOB Management Associate Program ( 1 2 3... Last Page)
858 Replies, 391,728 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
439 Replies, 108,145 Views
Work culture in IHiS ( 1 2 3... Last Page)
319 Replies, 210,244 Views
Reference Checks: Does SG HR... ( 1 2 3... Last Page)
93 Replies, 150,514 Views
PSA International ( 1 2 3... Last Page)
87 Replies, 24,070 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
1,048 Replies, 358,436 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
4,333 Replies, 2,233,734 Views
IMDA (under MCI) ( 1 2 3... Last Page)
311 Replies, 139,201 Views
Marriott International
0 Replies, 122 Views
Internship tips
5 Replies, 310 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:54 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2