Different rank in local banks
 

Hi all,

i had search through the forum and found that there is rank or pay structure across there local banks and most value rank(Company) within the same rank?
and discuss about AWS or incentive or allowance

Can anyone summarize or share the structure in this 3 banks?

OCBC:
associate->senior associate->AVP(do there have 1,2,3,4,5)-VP(1,2)-Director

UOB
AM->Manager(do there have 1,2,3,4,5)->AVP(do there have 1,2,3,4,5)->VP(1,2) -Director

DBS
associate->senior associate->AVP(do there have 1,2,3,4,5)-VP(1,2)-Director

Thanks
Edison

What the bonus like for local banks' ops and mid office? anyone can shed some light as well?

Why do you need this info? What is your offer and which bank? It seems a bit silly to be looking for so much detailed info if you are just looking to apply for some jr level job in a bank.

i have offer in in dbs as associate in back office....i just wanna know which bank how many years to climb to next level.
currently ocbc and uob is at 2nd round interview stage, if pass then will get the offer.

just go for the higher paid ones. playing politics is the key, knowing all the bank's ranks is useless imo.

I read a bit on ranks in industries. From what I understand, in the investing industry, rank isn't that important. How people value you is the assets you managed, the significance of your work, the brand of your fund and your track record.

I sense that either in larger organizations or in the financial services, both of which UOB/DBS/OCBC is a part of, rank and title DOES matter. The reasons are that because the work there more standardized compared to investing, the rank you have will suggest more or less what you do and what you're capable of.

For example:
An analyst in Fund A could be 1) employing macro strategies, 2) hedging bond exposure, 3) researching stock for PMs, 4) optimizing trade execution.

A BO analyst in Bank A, B, C will be doing accounting for PnL. A BO associate will command x number of analyst. A VP will be finding new ways to streamline the process.

I could be wrong. But my take is that the larger the organization, the more rank matters.

What's your starting salary?

yea of course rank matters cauz pay & power depends on rank. but all the e.g. u list so far is job titles, not rank. every org will make us of job titles depend on their need. some are conservative, some anyhow inflate, some the whole co. inconsistent ad-hoc. once u go out work u will realise things are not as straight forward.

Whats your problem? The forum serves as a site for people like him to get more information on jobs and prospects, if you have no answer to his question then save yourself the trouble and stfu.

I am curious about stanchart's

They have bands (7,6,5..) and within these bands there are grades (M15,M16...)

How do they transpose to local banks?

its faster if u tell us ur current salary then somebody in scb can tell u roughly which band it is.

150K p.a. all in. So which band? And what rank in DBS/UOB/OCBC?

which role are you in? back office? front office? it makes a diff.....I assume back office, 150K all in would likely be Band 6, M20/M21....

Should be AVP

VP range will be $200K to $300K

Probably AVP if BO. If it's FO then around Associate level.

AVP for UOB/OCBC, Manager or AVP for DBS

B.O should be AVP plus level behind. F.O depends already.

So if I were to accept an offer I shld be asking for Band 5, minimally 200k p.a.? Is that realistic?

I find it rather unbelievable that its only AVP for the local banks. I would thought it is at least at VP level and SVP at 180k max. (All incl)

My past impression was AVP is anything from 80-120k max (all in). Perhaps there has been substantial increments in last 2 years.

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 assume you don't work in local banks currently?

It's true that banking salaries have gone up quite a bit, but at the same time you need to perform to get a good bonus or be asked to leave.

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.

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 :p

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+

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.

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.

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.

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.

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.

Exactly, you really hit the nail on head.

It's like Piyush Gupta earning 10 mil a year and then his one-down Jeanette Wong, head of institutional/corporate banking, earning just 350K a year.

I would never wanna be head of institutional/corporate banking, if that's the case. Over my dead body haha

The true one down ie deputy ceo probably does earn that much more but at MD level there are a handful of them....

Basing the hierarchy of pay from the CEO down is a rather narrow view. The size of the job, accountability, profitability of the function, business risks etc plays a part too, not forgeting that local banks manages mostly just the Singapore market largely speaking, unlike global banks where hybrid, matrix reporting at local, regional, and grp/global levels across functions and divisions are not uncommon...

Anyway, just my take. Those who believes the fat pay cheques will cont to do so while those who are skeptical will remain skeptical.

Agree with what you mentioned, definitely largely true. Even within the MDs, there will still be a considerably wide range of compensation. Don't think anyone can reasonably deny that.

But I guess the main qualm is with the statement that said the MD who is head of corporate banking would be earning only 350k. Not sure if it is a typo but it's definitely impossible. Whether it's group head of corporate banking in DBS/OCBC/UOB or SEA Head of corporate banking for the bulge brackets, 350k is too low a number.

Of course, if you are referencing banks like Siam Commercial Bank (no offence), then maybe it's debatable. But I'm not too sure if such banks are even included in the discussions on this forum.

This is just a bunch of nit picking arguing for arguing sake. Even if we take into account all these so call factors, it still doesn't explain how a MD heading a sizable line of business end up 96.5% lower in pay than the CEO.

Come on, even the head of support departments like IT, Customer Service, HR, Marketing etc. are getting above $1mil, how can a MD of such an important lucrative business be making 350k?

Some of the good performers in consumer/corporate banking RMs are already making more than that, and you expect a MD heading all of wholesale banking to be earning less than a good branch salesman? Give me a break.

there is no need to argue. banks are required to disclose the ceo & top 5 ranking employee pay in the annual report. all 6 employee x 3 local banks are multi million dollar packages, 350k is obviously more mid level vp/svp type of package. the poster just shooting off the hip.

100k p.a is which band?

This a would be a Band 7/ M19 at StanChart

And VPs at local banks do not get 350K. This amount is for SVP level.

Thanks mate. Is this considered AVP?

Don't think so. Most people in this band should be Associate, Analyst or Specialist titles.

So, how much does a VP in a local bank earn?