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Different rank in local banks

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  #71 (permalink)  
Old 19-04-2021, 02:17 PM
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How many years would it take to reach VP level in BO/MO in BBs? Take for example PB risk function.
This question assumes that promotion in BBs is determined in the same way as that in local banks. While local banks promote mainly on the basis of seniority, in other words, the number of years spent on the job, BBs (and any truly competitive outfit for that matter) promote mainly on the basis of merit. This single difference explains why a local bank will never be as competitive or prestigious as a BB, and why compensation in a BB is significantly higher than in a local bank. BBs are ruthless and have no qualms about laying off staff that do not perform. As such, they are able to pay those who do perform handsomely. Local banks are way more egalitarian, and this egalitarianism extends to pay as well. As such, if you perform well, you will in all likelihood be subsidising that dud in your department. So if you think you've got what it takes, and pay is important to you, join a BB. If you're an unambitious average performer, join a local bank.

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  #72 (permalink)  
Old 28-04-2021, 11:45 AM
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Lol I wonder how many people here have actually worked in BBs before. At MO/BO level the total comp is about same as black/red. It's only at FO level that there is a disparity between BBs and local banks. There is no reason for BBs to pay more than the market rate for a risk analyst or a developer lol

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  #73 (permalink)  
Old 28-04-2021, 01:49 PM
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Lol I wonder how many people here have actually worked in BBs before. At MO/BO level the total comp is about same as black/red. It's only at FO level that there is a disparity between BBs and local banks. There is no reason for BBs to pay more than the market rate for a risk analyst or a developer lol

Speaking as a BB risk manager, In terms of base 15- 20% higher than local banks (all else being equal) but local banks pay better bonuses so it evens out and sometimes the total comp can be higher!

Main Advantage is the brand on your cv and the global exposure with international colleagues from various financial centres around the world. Better medical benefits (if you have a family) and better systems. Business trips on biz class for flights above 4hrs to various financial centres if your coverage is regional.

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  #74 (permalink)  
Old 28-04-2021, 01:57 PM
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Speaking as a BB risk manager, In terms of base 15- 20% higher than local banks (all else being equal) but local banks pay better bonuses so it evens out and sometimes the total comp can be higher!

Main Advantage is the brand on your cv and the global exposure with international colleagues from various financial centres around the world. Better medical benefits (if you have a family) and better systems. Business trips on biz class for flights above 4hrs to various financial centres if your coverage is regional.
How are bonuses like on average and would you say American BBs are better than European BBs?
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  #75 (permalink)  
Old 30-04-2021, 08:31 AM
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Is it possible to earn >7k base at associate level in local bank if not in FO?
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  #76 (permalink)  
Old 30-04-2021, 09:34 AM
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Is it possible to earn >7k base at associate level in local bank if not in FO?
Associate 4.5k to 5k only. 7k is for AVP.
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  #77 (permalink)  
Old 30-04-2021, 10:03 AM
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Associate 4.5k to 5k only. 7k is for AVP.
I know soneone at associate level getting 7.5k at local bank BO
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  #78 (permalink)  
Old 30-04-2021, 05:50 PM
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Is it possible to earn >7k base at associate level in local bank if not in FO?
Black/red senior associate definitely can. Not sure about the other two


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  #79 (permalink)  
Old 08-05-2021, 01:31 PM
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Smile Maybank jobs

Anyone mind sharing Maybank's corporate rank structure please? I'm looking at "Manager" role reporting to a VP and Head at Maybank. Anyone knows what is it equivalent to say, local bank's grade pls?
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  #80 (permalink)  
Old 09-05-2021, 08:11 PM
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Black/red senior associate definitely can. Not sure about the other two
what is the range for senir associate there?

i have a recruiter call and i currently work in global bank as associate wondering the difference in range
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