Different rank in local banks - Page 8 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Different rank in local banks

Reply
 
Thread Tools
  #71 (permalink)  
Old 19-04-2021, 02:17 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.

Reply With Quote
  #72 (permalink)  
Old 28-04-2021, 11:45 AM
Unregistered
Guest
 
Posts: n/a
Default

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

Reply With Quote
  #73 (permalink)  
Old 28-04-2021, 01:49 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.

Reply With Quote
  #74 (permalink)  
Old 28-04-2021, 01:57 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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?
Reply With Quote
  #75 (permalink)  
Old 30-04-2021, 08:31 AM
Unregistered
Guest
 
Posts: n/a
Default

Is it possible to earn >7k base at associate level in local bank if not in FO?
Reply With Quote
  #76 (permalink)  
Old 30-04-2021, 09:34 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.
Reply With Quote

  #77 (permalink)  
Old 30-04-2021, 10:03 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Associate 4.5k to 5k only. 7k is for AVP.
I know soneone at associate level getting 7.5k at local bank BO
Reply With Quote
  #78 (permalink)  
Old 30-04-2021, 05:50 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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
Reply With Quote
  #79 (permalink)  
Old 08-05-2021, 01:31 PM
Unregistered
Guest
 
Posts: n/a
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?
Reply With Quote
  #80 (permalink)  
Old 09-05-2021, 08:11 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Big 4 back-office rank & salary structure adclicko1 Income and Jobs 1 30-08-2015 11:47 AM
Technology in local banks kitkat Income and Jobs 11 02-02-2014 12:34 PM
NUS: Rank of Programme Officer vs Programme Executive darkstar Income and Jobs 0 21-01-2014 11:36 AM
IT in banks sochews Income and Jobs 7 08-12-2011 09:45 AM
NS Rank yragmc General Discussions 1 07-08-2011 01:00 AM

» 30 Recent Threads
ST Electronics ( 1 2 3... Last Page)
2,410 Replies, 643,878 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
3,953 Replies, 1,514,773 Views
CSA (Cyber Security Agency) ( 1 2 3... Last Page)
290 Replies, 117,784 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
602 Replies, 477,236 Views
Lawyer Salary ( 1 2 3... Last Page)
14,895 Replies, 5,054,959 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
199 Replies, 51,414 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
666 Replies, 335,407 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,059 Replies, 775,734 Views
GovTech ( 1 2 3... Last Page)
729 Replies, 383,788 Views
How is life as a doctor in... ( 1 2 3... Last Page)
3,235 Replies, 1,534,878 Views
Changi Airport Group ( 1 2 3... Last Page)
419 Replies, 405,803 Views
Year end bonus for civil service ( 1 2 3... Last Page)
345 Replies, 71,646 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
551 Replies, 320,818 Views
NUS (National University of... ( 1 2 3... Last Page)
144 Replies, 128,800 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,861 Replies, 4,482,401 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
844 Replies, 245,614 Views
Whats your net worth ( 1 2 3... Last Page)
2,870 Replies, 987,332 Views
Compare civil service salary ( 1 2 3... Last Page)
12,968 Replies, 7,661,432 Views
Owning a car in Singapore - the...
1 Replies, 903 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,541 Replies, 767,761 Views
Roles in accenture singapore ( 1 2 3... Last Page)
2,182 Replies, 586,611 Views
SIA AO grades ( 1 2 3)
26 Replies, 12,809 Views
GovTech Tech Associate Program... ( 1 2 3... Last Page)
180 Replies, 56,123 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
2,808 Replies, 2,164,627 Views
Citibank Singapore ( 1 2 3... Last Page)
172 Replies, 115,236 Views
Standard Chartered International... ( 1 2 3... Last Page)
70 Replies, 78,422 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
932 Replies, 293,566 Views
Career at Keppel
4 Replies, 1,433 Views
Exxon Mobil Equipment tech or... ( 1 2 3... Last Page)
1,930 Replies, 648,784 Views
IMDA (under MCI) ( 1 2 3... Last Page)
213 Replies, 81,732 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 10:52 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2