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27-07-2016 10:01 PM
Unregistered
Quote:
Originally Posted by newbi3 View Post
4k!? That's high man. Higher than PFC starting pay.

How is the quota for monthly sales?


HI, need u all commen

I looking for mortgage specialist job in sg.
May I know what is the basic ....4 k is the normal...??
Btw if meet the target every month &a the commission is pay by monthly right or quarterly ???


Thanks
18-09-2015 08:23 AM
newbi3
Quote:
Originally Posted by Unregistered View Post
4k

10char
4k!? That's high man. Higher than PFC starting pay.

How is the quota for monthly sales?
17-09-2015 12:12 PM
Unregistered
Quote:
Originally Posted by justanotherguy View Post
Hi, im leaving saf in a couple of months time after serving a bond of 5 years and am graduating with a SIM - UOL finance deg.

I've went for a few job interviews with various banks for the position Personal banker. From what i've learnt is, they are called Personal bankers, Personal financial Consultant, Relationship Managers, etc.

I know its tough because it requires alot of determination, capacity (soft skills) and loads of hardwork. Its been my 'aim' to get this job for awhile already. Yesterday, i had my 2nd interview with POSB and was utterly shocked when presented with certain information.

BRANCH MANAGER:
1) "I have family but no life. I work from 8am - 11pm almost everyday"
2) "This job takes the hell out of you"
3) "mon to sat full day, alternate sunday roadshows"
4) "The time now is 7pm, ITS STILL EARLY"

I wanted to ask her if she's married but she was really scary and demanding. Also, i wanted to ask if she has the time to spend her money away.

Okay, back to myself, Im leaving saf because i wanna make a name for myself as i believe i can do better in the corporate world. Im ready to strive hard and do whatever it takes to succeed.

HOWEVER, i really believe that i should spend some time with my family and my girlfriend. Im really vexed up. I need some advice. Is she scaring me off? Is she those career-minded freak? Is the Personal Banker role in banks really this busy and no life? I wouldnt mind work 6 full days a week and at least spend a day with friends or family. BUT 7 days a week 4 weeks a mth?...? seriously...? Where's the work-life-balance that has been advocated?

I really need some constructive advice if this job is really that taxing and if i should look for other jobs instead.
The Branch Manager is upfront and laying the smackdown onto you. Don't go in expecting anything less and if you do get something less then it's a bonus for you.

My wife (then fiance) was one for about 1.5 years as her first job. She is still in the same bank after 8 years but has moved on to other non-sales roles.

Be prepared for long hours - most of the office hours are spent catching up with paper work, then chilling with your fellow sales people at cafes/pubs or at the smoking corner. The long hours are due to cold-calling after office hours, since that is when most customers are free. Or if your BM (usually a 30-something, previously top-sales PB who went into the management track instead of continuing in sales RM/Offshore/Pte Bank track) is a chiongster type then you will be spending your evenings drinking a lot... don't expect the BM to always pick up the tab, sometimes you find yourself having to pick up a $1+k tab.

Good luck if your branch is into extended banking hours and open on weekends, otherwise weekends are spent at roadshows. Your partner will have to be very understanding because of your hours at work and also cos of the young/ hot colleagues that you will be spending a lot of time with.

The bank consumer sales organisation is a rotating door with ins/outs every month. Sales people are expendable, work them hard for 2 years and then change the lot out. Of course if you succeed in the top 5% the commission/bonus (different schemes in different banks) will be rewarding, incentive trips (very attractive, instagram-able destinations), hob-nobbing with the top of the network and hopefully a jump into the higher echelons of the sales organisation.

Most sales people are materialistic (part of how that motivates you to sell) and yet needs a lot of TLC and motivation from management (speaking from experience - I was one for 2 years). Of course management will only give you TLC if you are a performer, otherwise if your motivation wanes then it's time to move on.

If this is not for your then suggest you continue in SAF which is stable and salary is not that bad right?
17-09-2015 10:39 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
May I know what is the Starting salary for a mortgage specialist in OCBC?
4k

10char
17-09-2015 01:33 AM
Unregistered
Pay

May I know what is the Starting salary for a mortgage specialist in OCBC?
27-03-2012 08:56 PM
tianzui This is a great thread, provides some insights into e role. Am actually going for a 2nd round of personal banker interview with cimb soon. After reading e inputs, i am more determine to carve a career with it.
06-03-2012 07:54 PM
sunday5pm
Quote:
Originally Posted by Unregistered View Post
From my experience, the loan packages for normal residential mortgages are highly competitive with little variation between banks, each package give here take there, but all sum up about the same.

Which bank you join actually not much difference since you will be largely servicing normal people as opposed to HNI, so these guys tend to sign with the first decent guy that comes along instead of bank/banker loyalty. This also mean very competitive as you need to constantly source for new clients as your existing client unlikely to stay with you.

As for pay and work stress level, not much difference base on a few of my peers who work in different banks. Foreign banks remuneration and KPI in this space is more or less the same as local ones.

Since you are from IT in a corporate setting, I need to warn you that the transition is very drastic and calls for complete change in mindset. If you want to survive & prosper, you have to be 101% competitive and go all out for each & every single deal. This is different from the usual long work hours to meet deadlines normal corporate job.
Really appreciate all the pointers given

No doubt the stress from long hours clocked in a corporate non-sales environment differs a great deal as compared to front liners. Whatever mentioned above was a great reality check for myself, and before the anticipated leap of faith. I will definitely keep them in mind. Cheers!
05-03-2012 11:20 AM
Unregistered
Quote:
Originally Posted by sunday5pm View Post
Hi, im a recent grad with a local bank IT dept for 1+ yr and looking to switch into mortgage specialist role with any of local/foreign banks here. May i know in hindsight, will you choose a foreign bank over a local one, if renumeration is ever the same? And, by your experience, are foreign banks competing seriously in the mortgage loan space?

Appreciate your advice.
From my experience, the loan packages for normal residential mortgages are highly competitive with little variation between banks, each package give here take there, but all sum up about the same.

Which bank you join actually not much difference since you will be largely servicing normal people as opposed to HNI, so these guys tend to sign with the first decent guy that comes along instead of bank/banker loyalty. This also mean very competitive as you need to constantly source for new clients as your existing client unlikely to stay with you.

As for pay and work stress level, not much difference base on a few of my peers who work in different banks. Foreign banks remuneration and KPI in this space is more or less the same as local ones.

Since you are from IT in a corporate setting, I need to warn you that the transition is very drastic and calls for complete change in mindset. If you want to survive & prosper, you have to be 101% competitive and go all out for each & every single deal. This is different from the usual long work hours to meet deadlines normal corporate job.
04-03-2012 07:35 PM
sunday5pm
Quote:
Originally Posted by Unregistered View Post
The story is probably true.

I worked as a mortgage specialist in OCBC 2 years ago, so essentially was a personal banker for people looking to buy HDB or condos. Hours were long as most of my clients were working, almost everyday I meet people back to back from 6pm to midnight, sometimes don’t even have time for dinner…

As for Saturday & Sunday of course all burnt on either some road show or meet client since most would prefer to meet during weekend. It’s a lot more hectic because you need to meet them at places convenient to them, so I was all over Singapore and probably as good as taxi drivers wrt Singapore roads.

Between the normal 9 to 6 working hours, it’s either meeting ad-hoc client, team meeting, training or doing all that admin stuff. My boss actually not bad and tries his best to coach us, it’s just that the nature of the job is like that, once you slack there will be problem meeting monthly KPI which is usually a combination of product mix % and loan value.

If you are more generalist kind of RM details might be different, but I think work hours and stress should be roughly the same.
Hi, im a recent grad with a local bank IT dept for 1+ yr and looking to switch into mortgage specialist role with any of local/foreign banks here. May i know in hindsight, will you choose a foreign bank over a local one, if renumeration is ever the same? And, by your experience, are foreign banks competing seriously in the mortgage loan space?

Appreciate your advice.
01-03-2012 10:37 AM
Unregistered
Quote:
Originally Posted by justanotherguy View Post
thanks. straight and precise. appreciate ur comment.
ive bought a hse with my girlfriend, thats the only thing stopping me. i dun wish to lose a wife by accepting a 7days a week job that eats your life out.
From what you said... You sound like you want the best of both worlds... High pay and good working hours... I think you better off staying inside the SAF lah... Slack and get relatively good salary compared to private sector...
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