Who says DBS is SMART?

[Throttle2]

Local bank also cannot be so lao kui mah.

 

MD of local bank = AVP of foreign bank.....aiyoh, very lao kui....

[Cheekg98]

so u must be one of the ranks listed there ...

[Xefera]

u mean the pay or brain-power?

[Throttle2]

both.....

[Chosenone]

True...for those who have been working for the co. for donkey years and are old....stay or retrench doesn't make a diff.

for those old bird will kena pay cut and then retrench as they get retrenchment payout on their last drwn salary ( after paycut) . Should done a pay cut on the dbs director pay by 50% and retrench him/her. lesse payout.

[oomph]

out of curiousity anyone know what was this DBS MD doing in DBS ? responsible for the lehman minibonds debacle ? or of sales misselling ? or neither ?

[Xefera]

don't think can tell leh. even the post may not be absolutely accurate, take it with a pinch of salt.

[Chongster]

also, in the rolling good years, the MD might have easily made $20m for the bank in one year.

 

"He don't even need to work for the rest of his life, assuming he sells his bungalow and buying 4-room flat and car(s), with his savings all these while and that S$240,000 goodie he received from generous DBS.

And there'll be more than enough $$$ leftover for his son's education and daily food and groceries."

 

--- this reveals how small a mind and world view the original poster has too. it's hard to explain to some people why $30k is a low salary...

[Hishercar]

most positions such as senior management are head hunted

 

if there is a problem that you need to fire or provide golden hand shake then there is certainly something wrong with the organisation in particularly this dee bee a s s

 

why

 

how may CEO have they changed over the this few years

[oomph]

well sometimes these kind of exercises are an opportunity for downsizing. DBS rushed into it, without consulting the union etc. reeks of bottomline improvements more than long term needs to reduce costs (which they have been doing lately).

 

moreover koh boon hwee has come out to say that they are going to do more, be more stringent, be more in your face. do more with less staff ? pity those staying. golden handshake does indeed sound better.

[Throttle2]

[Nighthawkcity]

titles can be easily created...in my workplace; a VP at HQ can be a MD at our subsidary, a EVP as a ceo in our JV.. but pay is according to their status in HQ with additional package for the extra portfolio thou

 

no lar bro, titles in banks are corporate ranks...

so its quite equal in terms of renumeration (range bound)

 

guess for your company, a head in subsidary when return to HQ is only a relatively high rank staff, nowhere near head lo..

[Windwaver]

Almost all my friends in banks go in as AVP

[Throttle2]

AVPs are a dime a dozen, and the lowest ranked bank signatory.

 

it's probably lower than table wiper at foodcourt even.

 

so it's really no big deal at all...

[Chongster]

what are the ranks from AVP to MD?

 

MD

SVP

D

VP

AVP???

 

this seems to be a very american investment bank model. i know places like standchart don't use this. shows how enamoured we are with the IB types...

 

or is SVP way on top? for american MNCs they are...

Edited November 17, 2008 by Chongster

[Blackyv]

then, what is the pay range for AVP?.... 4-5K?.....

[Speddevil]

Title secondary.. only status. More important pay packages

[Longg8]

stand chart or SCB, used to use titles like VP..

they have since converted to other title system last yr i think..or at least what one of the director told me..when i asked him how come his name card changed from VP to Director (same rank hierarchy)...

 

usually it's

 

Analyst

Associate

Associate Director

Director

Exec Director

Managing Director

 

for other system it's GENERALLY...

 

Officer, Senior Officer blah blah blah (freshie entry level)

Assistant Manager (used in local banks i think)

AVP

VP

FVP

SVP

EVP

SEVP (Only one local bank has this rank...)