07-11-2013 01:10 AM | ||
Unregistered | any idea how is it for OCBC? | |
05-11-2013 09:48 AM | ||
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My colleague does the sales MIS and incentive tracking so its true, according to the incentive payout scheme. But the targets to hit the max commission are very high and hardly any team hits it for consecutive 4 quarters a year. |
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04-11-2013 11:37 PM | ||
andy andy | Where got so much.... | |
04-11-2013 09:24 AM | ||
Unregistered | SME banking. They can hit up to 6 figure commission per quarter if they do well. But that's assuming they hit/exceed the targets which are normally crazily high. | |
03-11-2013 02:46 PM | ||
Unregistered | wah 300K per annum? thats alot for a sales team lead. which dept in SCB? | |
03-11-2013 08:18 AM | ||
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Ya sales team leader higher tank then RM usually VP level. But RM also got RM team leader so similar :P But RM base pay higher but commission lower. |
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02-11-2013 04:48 PM | ||
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how much can they expect to earn up to? whats their 'specific' jobscope? am i right that team leader is a rank higher than RM ?, are they equivalent to AVP or VP? |
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02-11-2013 05:33 AM | ||
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22-10-2013 07:25 PM | ||
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By way of background, i'm currently working for an IB in HK and not in SG, but i was originally from SG, and have colleagues in the SG office so I know what goes on there too (it's exactly like HK if you're wondering). First up, what you do in an IB or Investment Bank is raise capital for companies either via equity (e.g. IPOs that people are so fond of), or debt (bond issuances). IBs also offer strategic advice to companies for mergers/acquisitions (M&A). As you can tell the common thread here is that we advise companies and not individuals, thus the likelihood for someone who is working as a retail banker (selling investment products at branches to individuals) to make the switch over to the IB side is unlikely. Not because they aren't good, but merely because we're talking about a completely different animal altogether. A better career path for a retail banker would be to move into PB or Private Banking, which is what most of you here have already alluded to. It's more likely for a corporate/commercial banker who constantly looks at companies' financials (which i believe another forum poster had mentioned he/she did) to make the switch over. I've had a few colleagues do this, and if you're curious as to how they did it, i'll be happy to expound on it further. As for the question on how to enter the IB field without experience (which sounds like a chicken & egg problem; how to get the experience if you aren't already hired?), the common way that all banks hire is via internships. These are offered to penultimate students (i.e. one year before they graduate) at universities, or any other individual that fits that criteria. This internship works as a 10-week (at some IBs it may be less) rotation between IB groups, wherein the IB will treat you as an analyst (the starting level for every investment banker) and see how well you can do the job. After the completion of the internship, if you're liked by the people you work with, the IB will extend an offer to you for a full-time position. This is the how banks typically fill 80-90% of their incoming analyst class (or new hires) every year. If there's still a shortage of new analysts, they will recruit new analysts directly from the schools, without the internship process. Now the brutal truth. IBs tend to be elitist, and that is true. They will tend to hire more from top universities around the world (and they do hire from SMU & NUS as well) but will not do so if you did not attend university. Now before you gather your pitchforks and cast stones, there is a reason why this is so: Familiarity. This one is important. If you're going to be working with someone for 100 hours a week, you'd want to make sure you like working with him/her. That's what the internship is all about; it's speed dating for 10 weeks. If I just can't get along with you for 10 weeks, I wouldn't want to be hanging out with you for the next 3 years. Now given that there are so few places in IBs, they can't unfortunately extend an internship offer to everyone. How would you filter then? You'd pick people whom you know were smart, and had a track record of success. I.e. you'd pick people from the schools you were from. It's a cycle really; alumni from your school pick you, you pick former classmates/current students from your school, so on and so forth. Now is this the best way to do it? Not necessarily. But it works, and so life goes on. The obvious question here is: "Does that mean if i'm not from a Target school (i.e. the schools from which most investment bankers come from) that I have no chance?". Short answer, is no. You do have a chance, you just need to work harder at it. Not at school, but by networking. Once again, if you're interested I can expand on this, but I just wanted to say that it's possible, and there are many others that have done so. Apologies for the long post, but just thought it might be helpful for those that don't have any idea about the industry, and would like to learn more. |
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22-10-2013 09:26 AM | ||
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