SMU Fresh Grads Make $4k to $10k

[cupnoodles]

Originally Posted by Unregistered

Get into FO.

what is FO?

Originally Posted by cupnoodles

what is FO?

front office.

[cupnoodles]

Originally Posted by Unregistered

front office.

such as?

sorry, pls pardon my ignorance.

I am drawing 9k salary monthly excluding bonuses.

Transport and Mobile allowance total roughly 1.1k

Age coming 30 years

Going to receive 20% increment by end of this month/ June.

Qualifications Master degree and Hons degree both overseas

Originally Posted by cupnoodles

such as?

sorry, pls pardon my ignorance.

Let me google that for you:

Let me google that for you

[cupnoodles]

Originally Posted by Unregistered

Let me google that for you:

Let me google that for you

oh, coz when i googled, receptionist/cust officers came out!

thanks!

In a typical Investment bank or securities firm, the operations are separated into front office, middle office and back office.

As the name suggest, front office constitutes the research analyst, sales trader and traders including all their desks, corporate finance IB ppl, markets, quants, product specialists, private bankers... basically the side of the business that brings in the money for the company.. they usually only make up 10% or so of the whole company. Bonuses can range from a few months to 30-40 yrs.... Starting pay is typically at least 5-6k to 10-12k. A fresh graduate in such a role can earn up to 500k in a good year.

Middle office are all the product controllers, finance cotnrollers, risk management..... the middle man that manage risk

the back office are made up of settlements... trade processing... compliance.. controls... operations basically with IT... this grp of ppl make up the bulk.. starting pay is 3-4k... bonuses range from 3-30 mths..

Lastly, i think ppl are misinformed.... i think alot of people probably feel that 3.5k is too littel for a starting pay... it sure doesnt pay u enough to live comfortably in sg now. But what they are really missing out on is the prospects... on avg... even an ops analyst in the back office will end up as an avp in 3 -5 yrs... earning abt 6k... vp in 7-10... abt 10k... director abt 12-15 yrs abt 20-30k... by the time they are in their 40s they will definitely receive a salary that will knock you back.. im not even talking abt the front office ppl in the bulge bracket firms... they typically earn enough to retire in 10 yrs... its not their salary thats impresssive.. its in the bonusses.. its astronomical sums, sums that even you cannot imagine of..

[cupnoodles]

Originally Posted by Unregistered

In a typical Investment bank or securities firm, the operations are separated into front office, middle office and back office.

As the name suggest, front office constitutes the research analyst, sales trader and traders including all their desks, corporate finance IB ppl, markets, quants, product specialists, private bankers... basically the side of the business that brings in the money for the company.. they usually only make up 10% or so of the whole company. Bonuses can range from a few months to 30-40 yrs.... Starting pay is typically at least 5-6k to 10-12k. A fresh graduate in such a role can earn up to 500k in a good year.

Middle office are all the product controllers, finance cotnrollers, risk management..... the middle man that manage risk

the back office are made up of settlements... trade processing... compliance.. controls... operations basically with IT... this grp of ppl make up the bulk.. starting pay is 3-4k... bonuses range from 3-30 mths..

Lastly, i think ppl are misinformed.... i think alot of people probably feel that 3.5k is too littel for a starting pay... it sure doesnt pay u enough to live comfortably in sg now. But what they are really missing out on is the prospects... on avg... even an ops analyst in the back office will end up as an avp in 3 -5 yrs... earning abt 6k... vp in 7-10... abt 10k... director abt 12-15 yrs abt 20-30k... by the time they are in their 40s they will definitely receive a salary that will knock you back.. im not even talking abt the front office ppl in the bulge bracket firms... they typically earn enough to retire in 10 yrs... its not their salary thats impresssive.. its in the bonusses.. its astronomical sums, sums that even you cannot imagine of..

Thank you!

Its really informative!

I am taking home 1.6k despite working in BB FO...

the banking industry is a joke!!!!!!!!

Originally Posted by Unregistered

In a typical Investment bank or securities firm, the operations are separated into front office, middle office and back office.

As the name suggest, front office constitutes the research analyst, sales trader and traders including all their desks, corporate finance IB ppl, markets, quants, product specialists, private bankers... basically the side of the business that brings in the money for the company.. they usually only make up 10% or so of the whole company. Bonuses can range from a few months to 30-40 yrs.... Starting pay is typically at least 5-6k to 10-12k. A fresh graduate in such a role can earn up to 500k in a good year.

Middle office are all the product controllers, finance cotnrollers, risk management..... the middle man that manage risk

the back office are made up of settlements... trade processing... compliance.. controls... operations basically with IT... this grp of ppl make up the bulk.. starting pay is 3-4k... bonuses range from 3-30 mths..

Lastly, i think ppl are misinformed.... i think alot of people probably feel that 3.5k is too littel for a starting pay... it sure doesnt pay u enough to live comfortably in sg now. But what they are really missing out on is the prospects... on avg... even an ops analyst in the back office will end up as an avp in 3 -5 yrs... earning abt 6k... vp in 7-10... abt 10k... director abt 12-15 yrs abt 20-30k... by the time they are in their 40s they will definitely receive a salary that will knock you back.. im not even talking abt the front office ppl in the bulge bracket firms... they typically earn enough to retire in 10 yrs... its not their salary thats impresssive.. its in the bonusses.. its astronomical sums, sums that even you cannot imagine of..

Originally Posted by Unregistered

I am taking home 1.6k despite working in BB FO...

the banking industry is a joke!!!!!!!!

You must be the kopi soh.