NTU Computer Science Fresh Grad looking for advice

Originally Posted by Unregistered

Out of curiosity, I asked my sis again on details over weekend dinner. She is actually working on Citigold Private accounts which I understand is a higher tier than Citigold but still not considered private banking.

She told me 110k+ was last year and she is expecting generally lower variable bonus this year, would be lucky to hit above 100k. She also told me as far as she is aware, RMs at this tier even in a good year can only hit 250k and 350k is virtually unheard of. Perhaps private or investment banking, but she seems quite confident it cannot be done in Citigold Private or any tier below that. In fact she used to handle normal consumer banking in SCB and told me 50-70k is the norm at that level.

And it's not just my sis, I have a few friends in the banking sales sector and AFAIK none of them are making that sort of numbers that people keep throwing around here. So my advice for the newbie is be careful and don't trust everything that is shared here.

Not surprising. I have always suspected as much.

Same thing with property agents as well - lots of them claim to be in a "million dollar club" which implies to layman they are making 7 figure income. Truth is you only need a million dollar worth of transactions a year to qualify, that means someone who gets $50k in typical commission income in a year can qualify to be a "million dollar club" elite. Typical sales hype.

Originally Posted by Unregistered

Not surprising. I have always suspected as much.

Same thing with property agents as well - lots of them claim to be in a "million dollar club" which implies to layman they are making 7 figure income. Truth is you only need a million dollar worth of transactions a year to qualify, that means someone who gets $50k in typical commission income in a year can qualify to be a "million dollar club" elite. Typical sales hype.

This reminds me of a thread that I contributed before. Thank you for your sister's info. Okay, then can we conclude on these numbers? Say top 15 percentile earners in each of these categories:

1. Citigold: S$120k.
2. Citi Private Client: S$180k.
3. Citi Private Banking: S$250k.

Is that more accurate? I know it's sales based and commissions. So as stated, we're discussing top 15 percentile.

Originally Posted by Unregistered

This reminds me of a thread that I contributed before. Thank you for your sister's info. Okay, then can we conclude on these numbers? Say top 15 percentile earners in each of these categories:

1. Citigold: S$120k.
2. Citi Private Client: S$180k.
3. Citi Private Banking: S$250k.

Is that more accurate? I know it's sales based and commissions. So as stated, we're discussing top 15 percentile.

Based on my exprience, #1 and #2 for top 10 percentile seems accurate. For #3 top 10th percentile might be higher, maybe S$300k is my best guess.

So to rephrase everything that is gathered so far, we can say the top 10th percentile for each tier of RM is roughly as follows:

1. Citi: S$90k
2. Citigold: S$120k
3. Citigold Private: S$180k
4. Citi Private Banking: S$300k

For those more interested in 50th percentile (i.e. median), my best estimate is:

1. Citi: S$60k
2. Citigold: S$90k
3. Citigold Private: S$120k
4. Citi Private Banking: S$200k

Another thing to be careful is that some of the tiers overlap. For e.g. it is possible for a good Citi RM to earn better than a mediocre Citigold RM although in general the higher the tiers you are assigned to, the better total pay should be.

Originally Posted by Unregistered

Based on my exprience, #1 and #2 for top 10 percentile seems accurate. For #3 top 10th percentile might be higher, maybe S$300k is my best guess.

So to rephrase everything that is gathered so far, we can say the top 10th percentile for each tier of RM is roughly as follows:

1. Citi: S$90k
2. Citigold: S$120k
3. Citigold Private: S$180k
4. Citi Private Banking: S$300k

For those more interested in 50th percentile (i.e. median), my best estimate is:

1. Citi: S$60k
2. Citigold: S$90k
3. Citigold Private: S$120k
4. Citi Private Banking: S$200k

Another thing to be careful is that some of the tiers overlap. For e.g. it is possible for a good Citi RM to earn better than a mediocre Citigold RM although in general the higher the tiers you are assigned to, the better total pay should be.

sounds more like sour grape to me. i personally know a few bankers in dbs treasures making close to 500k.

Originally Posted by Unregistered

sounds more like sour grape to me. i personally know a few bankers in dbs treasures making close to 500k.

Here we go again. Lol.

Originally Posted by Unregistered

sounds more like sour grape to me. i personally know a few bankers in dbs treasures making close to 500k.

DBS Treasures RM are paid 5-6k normally. So your friend is getting 7 years bonus to hit 500k? Usual talking cock through the arse again...

Originally Posted by Unregistered

Here we go again. Lol.

Lol.

I think only that chap from BSI bank getting charged over 1MDB money laundering may get close to half a mil.

interesting how a NTU computer sci grad topic can go till citibank topic that last 1 pages..

all i heard, my friend, i know..

I think I earn 1mil/year.. come challenge me!

So many childish never interact with elite banking/investment circle here think 500k pay is so special...