Salary.sg Forums - Reply to Topic
Salary.sg Forums  

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

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




Salary.sg Forums

Thread: Private Banking Salaries Reply to Thread
Your Username: Click here to log in
Human Verification To prove you are a human and not a computer program that spams, please check the box below and answer any further questions if prompted.

Title:
  
Message:
Post Icons
You may choose an icon for your message from the following list:
 

Additional Options
Miscellaneous Options

Topic Review (Newest First)
17-05-2019 09:56 PM
Unregistered It's such a pain looking at this.

Mass banker, also known as personal banker, personal financial banker. Basic is about 2.5k to 3.5k per month. Normally quarterly commission, typically $5k to 15k per quarter, for those above average sales. Typically 80% of new joiners will quit within 1 year. For top sales, those that goes up to stage or for incentive trips, commission is higher. Will get promoted to next level after 2 years

Priority banker, also known as Citi gold, premier banking, etc. Able to sell most products in the markets. Basic salary starts to diverge here due to vintage, and negotiating skills. But typically 3.5k to 6k per month. Normally quarterly commission, can go up from $5k to $100k per quarter. As bankers are able to sell universal life, and leverage, and fx loan switches. Normally 60% of the sale staffs will quit or change bank within 2 years. Due to weak sales, or lousy portfolio.

Private client platform, the last platform before true private banking, there is 2 banks that is a hybrid of retail and private banking. With their bankers cacs1 & 2 certified, while the rest of the market is still just CFMAS qualified. Basic is from 7k to 12k monthly. Commission is same as premier banking as products are similar. Besides the banks that have cacs1 & 2 qualification, which allows them to set up trust, sell private equity and more structured investment options.

Private banking. Generally need to bring in $50m AUM every year, for the first 3 years. Need to submit business plan with your clients profile (without names). Normally rev targets will start after 18 months and will start to ramp up. Generally PB should generate 1.5% rev on their portfolio. PB is paid bonus, with tier 1 UBS and CS paying the least bonus base on your rev performance (year 3 onwards) year 1 and 2 is still AUM KPI. UBS and CS pays about 8 to 12% bonus on rev. While EFG bank (tier 3 private) can go up all the way to 20 to 30% bonus. Different private banks has different offering. With tier 1 PB like CS offering all sorts of leveraging, MA, and all exotic products. Tier 3 PB might have worst offering then retail local banks. Normally basic is 12k to 30k depending on how senior you are.

ARM, is just a assistant relationship manager. The probability of becoming a private banker via this route is very very very low, you need extreme luck and good PR and EQ. You will more likely become a PB by going via the retail route. Especially if you are not someone from a very rich background.
29-12-2018 03:01 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
First year 50mil 2nd year 80mil 3rd year 100mil.
They do take in young punks in their 20s 30s if they have wealthy parents, relative or have good connections

Local banks private side is slightly diff. Need aum and you need to do wealth.

Not easy to do at all.

If you want to be a private banker, i suggest start looking for aum. External network.
Build aum from premier level will take you years and even so not every client will follow you.
Fail first year target, bye bye.
There are many sales roles out there that can fetch you 20 30k base plus comm a mth.
Road show credit card already can fetch 10k plus. Telemarketing for loans also can fetch 20 30k.
Just choose something that you like and make sure you perform and you will see the rewards.
20-30k basic inculding comm
29-12-2018 02:59 AM
Unregistered First year 50mil 2nd year 80mil 3rd year 100mil.
They do take in young punks in their 20s 30s if they have wealthy parents, relative or have good connections

Local banks private side is slightly diff. Need aum and you need to do wealth.

Not easy to do at all.

If you want to be a private banker, i suggest start looking for aum. External network.
Build aum from premier level will take you years and even so not every client will follow you.
Fail first year target, bye bye.
There are many sales roles out there that can fetch you 20 30k base plus comm a mth.
Road show credit card already can fetch 10k plus. Telemarketing for loans also can fetch 20 30k.
Just choose something that you like and make sure you perform and you will see the rewards.
02-02-2017 08:11 PM
Unregistered Bump for 2017.

Any idea what European Banks pay for the following jobs:

- AD
- D/ VP
- ED
- MD

Would be good to get a sense of the base salaries. From the earlier postings, seems like bonuses fall in the 60-120K range.
27-01-2014 10:19 PM
Unregistere ARMs are not making alot as compared to private bankers, in order to up salary have to jump ship. but being say that one have to start all over again, build relationship with internal clients / clients, support new bankers, etc. quite tough decision to make sometimes...
30-03-2013 01:44 AM
Unregistered Revenues around usd 4 millions. Salary plus bonus usd 700k.
14-03-2013 09:27 AM
Unregistered At the end of the day pte bankers are just atas salesman selling products to UHNI. Most people who keep asking how to be pte banker dun even know anyone with networth >$50M and still dreaming of becoming one.
14-03-2013 12:12 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
haha everyone here is full of ****.

Private bankers don't earn on comm or products. their spread is so little that it is ridiculous. For example, priority/premier banking platforms charge 3-5% on funds,1-2percent on bonds. Private banks only charge 0.25%. why? because they make money based on AUM and Volume la!

Private bankers only do one thing; BRING IN AUM.

and obviously if you are 20 something or even in your 30s, you are not going to be a private banker. WHICH multimillionaire will want to take advice from a young punk? go think la!


maybe after you slog like a dog as an Associate RM for 8 years or you work on a Private Client, HNW platform then maybe you can even dream of being a private banker.


and BTW, its bullshit that private bankers earn the most among bankers. ive seen Citigold Private client and Citigold RMs earn more then private bankers, simply because they get commission.
Comms no, I agree but most private banks do calculate product sales as part of the target RoA though. AuM by itself doesn't generate money, particularly if most fees(safekeeping etc) is ususally waived.
10-03-2013 10:51 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
To clear up doubts, if you want to earn big in banks, do sales.

The normal operation staffs don't earn much. Frontdesk tellers pay starts at about 2k for diploma, the most senior i've seen is about 4k but she's near her fifties.

As a equity researcher responsible for generating reports for clients, i draw a fixed salary that is 'on-par' with my peers in civil service. Why i say 'on-par' is because you have to factor in the extra time put in. Most of the fixed salary in banks are paid 'competitively' to singapore market rates (pegged to the salaries of civil servant, the benchmark of salary)

Many of the people are just plain trolls. Bankers are like property agents, few make it big, many fail miserably. For private bankers you get money as you close. The record holders draws few millions per annum. But there isn't alot.

Private bankers are not rich. There is a saying internally that it's a irony that we take care of client's money but do not know how to take care of our own. Many people have died in banking industry due to their unrealistic lifestyles.

Was curious about this topic, entered this thread, only to find plenty of trolls lying around.

Source: I work in a bank.
Hi, don't mind sharing how much are you making right now when you say you're just "on par" with civil sector?
09-03-2013 08:19 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
To clear up doubts, if you want to earn big in banks, do sales.

The normal operation staffs don't earn much. Frontdesk tellers pay starts at about 2k for diploma, the most senior i've seen is about 4k but she's near her fifties.

As a equity researcher responsible for generating reports for clients, i draw a fixed salary that is 'on-par' with my peers in civil service. Why i say 'on-par' is because you have to factor in the extra time put in. Most of the fixed salary in banks are paid 'competitively' to singapore market rates (pegged to the salaries of civil servant, the benchmark of salary)

Many of the people are just plain trolls. Bankers are like property agents, few make it big, many fail miserably. For private bankers you get money as you close. The record holders draws few millions per annum. But there isn't alot.

Private bankers are not rich. There is a saying internally that it's a irony that we take care of client's money but do not know how to take care of our own. Many people have died in banking industry due to their unrealistic lifestyles.

Was curious about this topic, entered this thread, only to find plenty of trolls lying around.

Source: I work in a bank.
Well I worked in a bank before, and in tech and ops. I made 150k doing random analyst kind of work (called "business architect"), while my indian boss made 200k+. The tech PMs all made close to 200k.
This thread has more than 10 replies. Click here to review the whole thread.

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




All times are GMT +8. The time now is 03:34 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2