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Life as a Personal Banker Associate

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Old 09-09-2010, 05:44 PM   #1
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Life as a Personal Banker Associate

Hi guys,

NTU Engineer by training, I've been working for 1 year + now as a sales & marketing exec.

Decided to do a career switch to finance, starting off as a Personal Banker Associate.

Definitely taking a pay cut, but I think time to give it a shot at some comms-based job (fixed salary...sucks...)

Just wanna ask for some advise regarding this line, the tough life and hopefully, the rewards for all the work.

Let me know, thanks!
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Old 09-09-2010, 11:07 PM   #2
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I have many friends working in this line.

Dun be blinded by the fixed pay. Basically, there is a super high quota to hit. Normally, miss the quota for the first 3 mths, then will ask you to go. I think they will also crawl back your commission. Then, the bank decides what thing you are going to sell. Some super unlucky will go sell investments. Some lucky one will sell credit cards.
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Old 09-09-2010, 11:11 PM   #3
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thanks for the response.

that said, what would u suggest for someone who has zero financial background yet wants to enter this industry? i am trying to avoid starting in the back office, thinking of jumping straight to front office...

nothing to hide here, apart from interests, i'm also drawn to the higher pay as compared to engineering industry =)
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Old 10-09-2010, 01:48 AM   #4
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For your info, you are already over qualified for this PBA job.
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Old 10-09-2010, 11:11 AM   #5
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may i know which bank?

i work closely with bankers, so maybe if you wanna find out more can pm me. most are doing ok without the need to do particular products.
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Old 10-09-2010, 11:53 AM   #6
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zhiz22 >> UOB. Please, if you have info i would love to learn more.

jazdrive >> Haha yeah, i thought so. I want to be a RM, or a private banker eventually. It's hard to springboard myself to those position without any financial knowledge. So there's 2 way i thought I could choose. (a) enter a Management program (b) start out as a PBA for 1 year+

I think this way with some working financial knowledge, coupled with my degree, perhaps i will get a better shot at becoming a RM or eventually, PrivateB.

By all means, engineering is fine but... u know, just don't see myself as an engineer haha....

what say u? im holding on to offers, best shot would be getting into a MAP but no news on those yet, so........
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Old 10-09-2010, 11:58 AM   #7
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if not wrong you will need to sell purely insurance for the first few months. most struggle and drop out.
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Old 10-09-2010, 12:06 PM   #8
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hmm thats what i heard also, or could be selling purely credit cards etc.
which is what i'm worried hahaa...

So what would be the best way to go in straight as a Asst RM etc?
Get a MBA?
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Old 10-09-2010, 12:16 PM   #9
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u still need the experience, jumping straight as rm wouldnt do you good. you considered foreign bank? its better i believe
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Old 10-09-2010, 12:23 PM   #10
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btw if poor sales at uob you punished to stay at atm to prospect atm customer
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Old 10-09-2010, 12:30 PM   #11
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oh serious!?
so that explains........hahahaha okok i didn't know that keke.

yup i tried foreign banks too. by far only ANZ got back. i'm hoping those Investment banks would call ...yup..
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Old 10-09-2010, 12:33 PM   #12
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hmm thats what i heard also, or could be selling purely credit cards etc.
which is what i'm worried hahaa...

So what would be the best way to go in straight as a Asst RM etc?
Get a MBA?
You say want to be an RM then can be RM?

Got any client base first or not. I suggest you start from the bottom first if you really looking to do well in the finance industry. Being in sales have little to do with qualifications but more to do with creating strong business network. Go in sell insurance first and see how it is like for yourself. If can survive the first 3 mths then I think you can endure the next 3 years.
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Old 11-09-2010, 12:06 PM   #13
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UOB turnover rate is pretty high.

As for your career path, premier/priority banking may be possible... but it's probably going to be very hard to break into private banking unless you come from a wealthy background.

Last edited by icyspawn; 11-09-2010 at 12:10 PM..
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Old 11-09-2010, 12:35 PM   #14
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thanks for all the inputs
I think I understand what u all are saying, and I kind of know it too. u know, selling cards, insurance and stuff....
my dilemma here is, as much as I don't wish to start out as a personal banker, I don't have much options here if I wan to break into front office banking without any financial knowledge.

sure, I've applied for all the MAP Programs which wld be the best option, but I may or may not get in, and all the MAP won't start till 2011. Just nice there's opening for PB so I thought I would open my doors to all options lor....
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Old 11-09-2010, 01:10 PM   #15
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PB is wealth management industry.

Ask yourself, do you enjoy facing customers? Have you tried tele marketing before? If you don't like it, then PB isn't for you because you do more than just talking on the phone.

Btw, stanchart is also hiring. Have you tried them?
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