Different rank in local banks

Originally Posted by Unregistered

ED at DBS is equivalent to MD at BB. There are not many MD roles in Singapore. BB pays higher on base but lower on bonus. There wont be much difference in terms of total compensation.

Talking about BO/MO roles. I know FO is a different story.

Originally Posted by Unregistered

ED at DBS is equivalent to MD at BB. There are not many MD roles in Singapore. BB pays higher on base but lower on bonus. There wont be much difference in terms of total compensation.

Don’t know how to reason with this if you think BBs pay package is similar to local banks at the same level.

Originally Posted by Unregistered

Talking about BO/MO roles. I know FO is a different story.

Junior EDs at top bulges in BO/MO have base starting around 18k-20k with average 2.5-3 mths cash bonus. Equity component average around 1-1.5months.

Originally Posted by Unregistered

This sounds more reasonable for VP salary at local bank. How much would that be in terms of annual? How much more do you earn at foreign bank? Same VP rank?

Local bank titles are grossly inflated. Half the bank is AVP, and team leads (of small teams of less than 10 people) can be VPs. So a low VP in a local bank is like a Manager in an MNC. High VP is like HOD/Director. VP in international banks/BBs usually earn around double of the same rank in a local bank.

Originally Posted by Unregistered

Local bank titles are grossly inflated. Half the bank is AVP, and team leads (of small teams of less than 10 people) can be VPs. So a low VP in a local bank is like a Manager in an MNC. High VP is like HOD/Director. VP in international banks/BBs usually earn around double of the same rank in a local bank.

Not true. VP at JPM/GS pays around 12k to 15k. Seriously, so many misinformation here.

Originally Posted by Unregistered

Not true. VP at JPM/GS pays around 12k to 15k. Seriously, so many misinformation here.

OP might be referring to FO VP pay discrepancy. Your figures are correct for BO/MO though.

Aiyah why need to compare here compare there, so what if you know what other people are earning?

I'm a VP in BO function in one of the local banks and I'm drawing like 13k in base salary each month. I feel that I'm living very comfortably now and my work-life balance is great with my 2 kids.

For someone like me who don't spend alot, I don't like branded goods and I can't really appreciate atas restaurant food, I find myself accumulating alot of cash savings and spending on car expenses and my children.

What's the point of earning so high anyway

Originally Posted by Unregistered

Aiyah why need to compare here compare there, so what if you know what other people are earning?

I'm a VP in BO function in one of the local banks and I'm drawing like 13k in base salary each month. I feel that I'm living very comfortably now and my work-life balance is great with my 2 kids.

For someone like me who don't spend alot, I don't like branded goods and I can't really appreciate atas restaurant food, I find myself accumulating alot of cash savings and spending on car expenses and my children.

What's the point of earning so high anyway

Yeah no point for you. Have you considered that others arent like you?

Some may need more money to take care of their dying parents.
Some may need more money because they have to support their relatives who may be disabled for life.
Some may need more money because they are busy paying off debts which may be incurred by their close ones.

Some may need more money because they enjoy good food, good life, good investment returns, good branded goods etc.

Maybe it was wrong for you to be even paid at that rate since you dont have any idea how to make the fullest use of your money. Have a think about that would you?

Holy cow just give it a break. What’s with all the comments on “comparing” is toxic and “dying parents”?

None of the posts here are even that bad. Purely just to share career and salary information - which is the reason why everyone is on salary sg

Originally Posted by Unregistered

Not true. VP at JPM/GS pays around 12k to 15k. Seriously, so many misinformation here.

How many years would it take to reach VP level in BO/MO in BBs? Take for example PB risk function.