Hi, Got into the later rounds of the interview process for the investment banking division for a local SG bank, i.e. DBS OCBC UOB.
I can't seem to find information about working in the local bank's IBD team, so was wondering if WSO has any information on:
1. Compensation for associates
2. Working environment in these banks
3. What divisions are strong/good in these banks
And any other intel anyone can give would be helpful!
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- Comp for associates = base significantly less than bulge bracket given that most of their deals are execution as they don't really need to originate. bonus lower as well.
- working environment = good, not too late hours as the bank understands they aren't paying you BB pay
- divisions that are strong/good = everything tbh, they're the big daddies of SG
i wouldn't recommend starting out your career there but it's not the end, have seen guys go to EBs or BBs thereafter but you have to hustle
Thank you for your reply, very insightful.
Any idea the range expected for an associate, similar to the other reply here S$5k?
DBS, UOB, OCBC, no ranking between them? Same comp range and same work environment and exit opp?
Yes that range is my understanding, maybe slightly higher over the recent years? bonuses range between groups. i know DBS fixed income guys were making a lot of money back then (more than 5 years ago).
bear in mind some people spend ~2+ years here before going to be an analyst at the BBs. still worth it in the long run tbh.
UOB isn't as good as OCBC/DBS.
From what I understand, local banks IBD pay is around S$5k+
Wow that’s significantly lower than BB, was expecting maybe 30% discount or something. This seems more like half.
Any idea about places like SCB then?
like $8k+ ish
Right that would be around what I expected. So guess it’s only the local banks then.
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