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Different rank in local banks

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  #21 (permalink)  
Old 29-04-2016, 05:32 PM
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Cannot be SVP lah, even local banks most SVP all-in is above 350k. Junior VP maybe for some of the “condemn” department like customer service and office administration. Most VP would be above 200k though…
I have a friend who is an SVP. What i understand is that 350k is only the "outside impression"...

Oh well. Anyway he don't seem like someone who earns that much given his lifestyle eg still staying in hdb etc. Unless they are given the titles to display on namecards but job grade is way lower in HR files

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  #22 (permalink)  
Old 30-04-2016, 11:07 AM
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I have a friend who is an SVP. What i understand is that 350k is only the "outside impression"...

Oh well. Anyway he don't seem like someone who earns that much given his lifestyle eg still staying in hdb etc. Unless they are given the titles to display on namecards but job grade is way lower in HR files
There are a lot of highly paid banking people living humbly, for eg. my big boss MD level still driving a Mazda. IMO it's the half fcuk types AVP/VP making 250-300k acting like multi millionaire.

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  #23 (permalink)  
Old 30-04-2016, 12:33 PM
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Aiyo sooooo many vp and svp ard. Almost any tom dick or harry is one as long as they work in a bank. Seriously they are not really that high lvl

I am also doubting the 350k claims

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  #24 (permalink)  
Old 30-04-2016, 02:23 PM
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most realistic numbers so far ive seen.
these are base salaries that take in foreign large and mid size banks and I believe local banks will take have to discount off probably 10% (to be conservative). while local banks, for the most part in FO should be raking in 4-6months bonus. and there you go, if you want to calculate the gross annual salary.

def not the sky high perverse claims like AVP or junior VP getting 350k / year.


Corporate finance, M&A, ECM, DCM

China: Director £122,000 – £203,000. Managing director £182,000+
Hong Kong: Director £126,000 – £158,000. Managing director £158,000+
Japan: Director £117,000 – £176,000. Managing director £176,000+
Singapore: Director £106,000 – £168,000. Managing director £168,000+

Global markets

China: Senior trader £80,000 – £151,000. Desk head £151,000+
Hong Kong: Senior trader £94,000 – £196,000. Desk head £196,000+
Japan: Senior trader £116,000 – £175,000. Desk head £175,000-£233,000
Singapore: Senior trader £84,000 – £119,000. Desk head £119,000+

Corporate banking

China: Team head £60,000 – £91,000. Department head £91,000 – £151,000
Hong Kong: Team head £71,000 – £102,000. Department head £102,000+
Japan: Team head £105,000 – £128,000.Department head £128,000+
Singapore: Team head £97,000 – £120,000. Department head £120,000 +

Commercial banking

China: Team head £48,000 – £60,000. Department head £60,000 – £100,000 +
Hong Kong: Team head £55,000 – £78,000. Department head £78,000+
Japan: Team head £87,000 – £116,000. Department head £116,000+
Singapore: Team head £97,000 – £120,000. Department head £120,000 +

Private equity

China: Director £152,000 – £253,000. Managing director, £182,000+
Hong Kong: Director £110,000 – £174,000. Managing director, £174,000+
Japan: Director £117,000 – £176,000. Managing director, £176,000+
Singapore: Director £86,000 – £120,000. Managing director, £120,000+

Asset management

China: Fund manager £60,000 – £101,000. Chief fund manager, £101,000+
Hong Kong: Fund manager £81,000 – £111,000. Chief fund manager, £111,000 – £166,000
Japan: Fund manager £59,000 – £106,000. Chief fund manager, £106,000 – £147,000
Singapore: Fund manager £72,000 – £84,000. Chief fund manager, £84,000 – £120,000

Hedge fund

China: Assistant fund manager £65,000 – £91,000. Fund manager £101,000+
Hong Kong: Assistant fund manager £94,000 – £118,000. Fund manager £118,000 – £235,000
Japan: Assistant fund manager £58,000 – £87,000. Fund manager £117,000+
Singapore: Assistant fund manager £86,000 – £120,000. Fund manager £120,000+
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  #25 (permalink)  
Old 30-04-2016, 02:30 PM
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to add on further, 350K per year is most likely a local bank MD, head of Corporate banking pay. and roughly 15% more for a MD heading entire wholesale banking (corporate, investment banking, global markets all in).

good years i would guess MD for wholesale banking can roughly rake in half a million per year. however, we have not experience the true headwinds about to come for the banking industry just yet.
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  #26 (permalink)  
Old 30-04-2016, 02:46 PM
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lastly, an average performer (if all else being smooth and lucky) may be good enough to reach director in 15 years in the industry. snr director in 20 years.

slightly luckier ones would become MD about 20-22 years (some of these are considerably high flyers). mid 40s for guys heading the entire dept (ie; corp banking/IB). that is the most reasonable estimate ive seen. ive not worked long enough to provide real evidence and these are mostly my observations, so feel free to comment if you feel otherwise.

the above post on the MD pay range are from a research by HAYS recruitment.
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  #27 (permalink)  
Old 30-04-2016, 05:57 PM
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Just to share, in my bank the MDs make around $50K basic monthly and VPs up to $20K.

The rest like svp and director will be somewhere in between.

Bonus range from 3 to 6 months.

For me i made $340K last year ($240K basic and $100K bonus)

Not front office.
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  #28 (permalink)  
Old 30-04-2016, 10:16 PM
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to add on further, 350K per year is most likely a local bank MD, head of Corporate banking pay. and roughly 15% more for a MD heading entire wholesale banking (corporate, investment banking, global markets all in).

good years i would guess MD for wholesale banking can roughly rake in half a million per year. however, we have not experience the true headwinds about to come for the banking industry just yet.
This sounds alot more plausible and realistic. There are so few MDs and the next level down ED aren't too many either so possibly 250-350k ish. The rest like FVP SVP and the tons of VPs are likely 250k and less.
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  #29 (permalink)  
Old 30-04-2016, 10:42 PM
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to add on further, 350K per year is most likely a local bank MD, head of Corporate banking pay. and roughly 15% more for a MD heading entire wholesale banking (corporate, investment banking, global markets all in).

good years i would guess MD for wholesale banking can roughly rake in half a million per year. however, we have not experience the true headwinds about to come for the banking industry just yet.
LOL you are so completely off base.

A MD in a local bank heading all of wholesale banking will be reporting directly to the CEO. We know from newspaper that the 3 local banking CEOs are paid $9-10 million. And you are saying a MD 1 level below is paid only 15% above 350k i.e. $400k?

It is so obvious you don't even have a clue what you are talking about here.
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  #30 (permalink)  
Old 30-04-2016, 11:22 PM
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LOL you are so completely off base.

A MD in a local bank heading all of wholesale banking will be reporting directly to the CEO. We know from newspaper that the 3 local banking CEOs are paid $9-10 million. And you are saying a MD 1 level below is paid only 15% above 350k i.e. $400k?

It is so obvious you don't even have a clue what you are talking about here.

MD can be a regional head who reports to global head or head of corporate and investment banking group, who then reports to the COO or CEO. For MD in local bank, salary is definitely more than 400k. But for bulge bracket, MD earns lesser if I am not wrong. Correct me if I am wrong.
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