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17-03-2020 12:25 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
BOS, OCBC (for FCH), DBS (before they phased out MA for fresh grads) pays above 4.5k..
Not true, this year's latest salary for BOS is 4100, UOB is 4200, OCBC is 4400 for first class honours. Anything above this is variable compensation (bonus) which is not guaranteed. The figures listed above are basic salaries.

I know Citi back office is 5.25k. JPM tech is 6k, Credit Suisse 5.5k, Deutsche 5.8k. FO roles for JPM GS MS are ~9.5k (S&T) and 11k (IB)

source: SMU friends
16-03-2020 10:31 PM
bobsman
Quote:
Originally Posted by Unregistered View Post
llst 2nd lowers just take..

u from finance degree?
I'm a local uni business degree (hons) specialising in finance.

Tried to nego but failed, HR keep saying fresh grad can't nego and I'm guessing they probably have fixed salary ranges for fresh grads as most local banks do.

Initially was worried about the minimum 4 years experience, but HR assured me that my KPIs and responsibilities won't be based on this, which is nice.

Anyway thanks all for the replies, I have accepted the offer at 3.3k.
13-03-2020 01:47 PM
Unregistered
Quote:
Originally Posted by bobsman View Post
I just got an offer for a credit risk analyst banking role (local bank) requiring at least 4 years of experience in banking. I am a 2nd lower from a local university (NTU/NUS/SMU) and I have also interned in the same division and same bank before (6 months). I also have another risk-related internship (3 months) in an investment company.

Is 3.3k base a reasonable pay? HR doesn't want to disclose the average bonuses but from online sources its around 1-3months based on performance, and also the base pay is non-negotiable.

Being a fresh grad, I know the job might be tough as I have no experience and the JD states a minimum of 4 yrs in banking. Is this a good opportunity?
llst 2nd lowers just take..

u from finance degree?
12-03-2020 11:21 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Local banks also don't pay their MA near 5k. DBS, OCBC and UOB all less than 4.5k. Only foreign banks willing to pay 5k.
BOS, OCBC (for FCH), DBS (before they phased out MA for fresh grads) pays above 4.5k..
12-03-2020 10:24 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
for local or foreign banks?? local banks dont pay near 5k for fresh grads unless its their MA prog
Local banks also don't pay their MA near 5k. DBS, OCBC and UOB all less than 4.5k. Only foreign banks willing to pay 5k.
11-03-2020 10:26 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
wow sub k and originally intended for people with 4 years of exp? either times are bad or the bank just trying to lowball to the max.

usually roles intended for people with 4 years of experience will hit almost 10k.

example:
enter at near 5k
1st year: 5k+
2nd year: promoted at 7k+
3rd year: 7k+
4th year: promoted at 10k+
for local or foreign banks?? local banks dont pay near 5k for fresh grads unless its their MA prog
11-03-2020 07:18 AM
Unregistered wow sub k and originally intended for people with 4 years of exp? either times are bad or the bank just trying to lowball to the max.

usually roles intended for people with 4 years of experience will hit almost 10k.

example:
enter at near 5k
1st year: 5k+
2nd year: promoted at 7k+
3rd year: 7k+
4th year: promoted at 10k+
10-03-2020 07:36 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
can't answer regarding the increments part but i can confirm for direct hire roles, 3.3k is the norm in local banks. 4k+ is only for management associates. you're right about bonuses, usually 1-3 months.

you can try asking for 3.6-3.8k but i think 4 will be out of the question. just my opinion. in any case, it might be good to accept this role and continue hunting for other jobs so that you have some leverage
i can second this, but bonuses would range from 2months onwards based on department.
10-03-2020 03:54 PM
Unregistered
Quote:
Originally Posted by bobsman View Post
Thanks for your reply, just wondering how often and how much local banks give out salary increments? I don't mind starting with a low base because I'm quite confident I can perform well given my previous internships in risk management, but not sure of how this entire salary increment system works and its frequency.
can't answer regarding the increments part but i can confirm for direct hire roles, 3.3k is the norm in local banks. 4k+ is only for management associates. you're right about bonuses, usually 1-3 months.

you can try asking for 3.6-3.8k but i think 4 will be out of the question. just my opinion. in any case, it might be good to accept this role and continue hunting for other jobs so that you have some leverage
10-03-2020 02:57 AM
bobsman
Quote:
Originally Posted by Unregistered View Post
You can try to negotiate the base to 4+k, but you have no leverage and nothing to back yourself up. If you have a counter offer for more than 3.3k, this is where you tell them you're gonna take up the counter offer.

If you don't have anything, you can try your luck with a "if you offer 4k, I'll sign now". But if they call your bluff, you're back to square one at 3.3k.

They're low balling you, but they also know you don't have a backup.
Thanks for your reply, just wondering how often and how much local banks give out salary increments? I don't mind starting with a low base because I'm quite confident I can perform well given my previous internships in risk management, but not sure of how this entire salary increment system works and its frequency.
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