Friday, October 5, 2012

Fresh Graduates Starting Pay in Banking and Finance

Application for full time banking and finance programs in Singapore in 2013 is now open and many wonder how much salary they can get from these jobs as fresh graduates. Below numbers are from $1Million Personal Financial Diary blog kept by a fresh graduate in Singapore. They are based on blogger's information collected from recruitment events and his schoolmates.

According to the blogger the application process is quite tedious:
"An online application form will take me approximately 30 mins to an hour as there is usually a section where I have to answer questions such as "Why did you apply to our organization" or "How is our bank different from others?" The most tedious one was the MAS application where I have to answer 8 questions. I can still remember the last question was something like "How will you spend/invest a million dollars?" Also, some applications require a pattern test or numerical reasoning test where I have to do some math questions in a short period of time."
Source : Fresh Graduates Starting Pay

Job Starting Salary for fresh graduates
Auditor at Big Four accounting firms   $2,700 -  $2900
Corporate finance at Big Four accounting firms   $3000 - $3500
Operations at Credit Suisse, Goldman Sachs, Bank Of America, etc   $3,750
Personal Financial Consultant at Standard Chartered Bank   $3000
Singapore Management Trainee Program at Standard Chartered Bank   $3,800
Personal Banker at UOB   $2,700 - $3000
Operations at UOB/DBS/OCBC   $3000 - $3500
Management Associate Program at HSBC/UOB/DBS/OCBC   $4000  - $4500
Sales and Trading at Goldman Sachs   >$8000
General Education Officer aka Teacher   $3,200
Graduate Officer at Monetary Authority of Singapore   $4,000 - $4500

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