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Topic Review (Newest First)
Today 02:48 AM
mytwocents
two cents

iím in the banking industry for about 9 years MO. hopped from local to a BB then to a small foreign bank. typing this cause on leave tmrw and returning good deeds by sharing info.

by researching this forum and glassdoor, iím sure u guys can tell whatís the truth being said. anyways hope we SIC more and toxic less.

itís true investment bankers fresh grad in BB may get paid 10k, but if u meet one, u will also know they donít have much time to even spend it. they are also minimally first class honours from local uni and have to pass gruelling MA interviews. so itís true but highly unlikely and only for IB in BB (no other MA roles will pay u 10k straight out of uni).

BO/MO: starting salary at BB 4k+ is definitely possible. Even OCBC or UOB are paying at least 3k for fresh grads (just ask around)..

BO/MO: salary after 5 years? my estimate is 5-7k if ur foreign bank. depends on how many promotions and salary increments. if youíre good, twice promotion maybe 20% to 30% each time. local bank salary is low prolly 5k after 5 years is average (normal progression), but their bonuses are much better.

back to the contentious point being debated:
10k for MO role after 5 years in a BB (fresh grad) is highly unlikely. UNLESS ur a MA program, or ur linked to a revenue generation MO team ie structured product team, or ur salary increment was 20% every single year without fail on average despite all banks having one or two bad economic years. Again, sounds unlikely or u left out some other information such as YOE.. In any case, if u achieved it congrats, defo no easy fear. but folks here are asking for the reasonable range, not an unlikely outlier range. spread the kindness bruh

keep sharing and stop the toxicity!

cheers guys.

FYI, itís true JPM doesnít hav AVP, thatís why their senior associate salary can hit 10k too.. personal experience).
Yesterday 11:02 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
LOL so many unemployed/undergrads here.

Yes - for JPM/GS/MS, salary ceiling for MO/BO VPs can reach 20k (those who canít promote but have many YOEs under their belt). At where Iím at, MO/BO EDs start at 18k-19k base min (but depends on YOE when you promoted too) and the salary ceiling at this level is ~30k. Might be more, am not at ED level yet so canít comment.
Back office reach this 18k amount is after how many years? 20?
Yesterday 08:39 PM
Unregistered LOL so many unemployed/undergrads here.

Yes - for JPM/GS/MS, salary ceiling for MO/BO VPs can reach 20k (those who canít promote but have many YOEs under their belt). At where Iím at, MO/BO EDs start at 18k-19k base min (but depends on YOE when you promoted too) and the salary ceiling at this level is ~30k. Might be more, am not at ED level yet so canít comment.
Yesterday 02:38 PM
Unregistered anyone passed cfa l1?
15-09-2021 03:16 PM
Unregistered I do agree it's important to compare but I think it's the purpose behind wanting to compare. If you want to see what colleagues of with similar experiences, scope are earning, sure. Comparing with friends in another competitor company, sure. All these help in ensuring that you're compensated fairly and competitively. But comparing yourself with strangers online who are just throwing numbers without anything to back it up, not so much.
15-09-2021 02:57 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Better than being stuck in actual assholes like these salty guys LMAO!
Coming to a public forum to brag about your friends 5 figure salary? I think you are the salty one...
15-09-2021 12:23 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
But once again, many "rubbish numbers" are actually not rubbish numbers, but many of them just choose not to believe it.. similarly they would be underpaid their whole life
It is important not to be small minded but at the same time not everything can be taken at face value.
15-09-2021 12:08 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
It's important to compare but with actual data points not rubbish numbers like what you mainly see on here. Else you could be underpaid your whole life and not suspect a thing - companies love workers like these and even heavily extol the "virtues" of salary confidentiality solely for this reason.
But once again, many "rubbish numbers" are actually not rubbish numbers, but many of them just choose not to believe it.. similarly they would be underpaid their whole life
15-09-2021 11:58 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
I think it's important for anyone to not compare to peers/colleagues and even strangers/trolls in this forum. The world is unfair, some people put in the effort and hard work and reap the rewards, some do the same but turn out average. Some don't even do much but get to enjoy high salary and benefits. Why compare yourself to others when there are many doing way better than you, similarly, many more are also worse off than you.
It's important to compare but with actual data points not rubbish numbers like what you mainly see on here. Else you could be underpaid your whole life and not suspect a thing - companies love workers like these and even heavily extol the "virtues" of salary confidentiality solely for this reason.
15-09-2021 11:55 AM
Unregistered I think it's important for anyone to not compare to peers/colleagues and even strangers/trolls in this forum. The world is unfair, some people put in the effort and hard work and reap the rewards, some do the same but turn out average. Some don't even do much but get to enjoy high salary and benefits. Why compare yourself to others when there are many doing way better than you, similarly, many more are also worse off than you.
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