IB compliance

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  1. #11

    Thank you all!!!

    I completely agree! My heart's in the in-house role too. That is probably where I will end up. BUT ... having heard SO MUCH regarding IB compensation, I would rather know the ballpark numbers and choose in-house instead of choosing without knowing. Control issues ... not sure, perhaps yes. I would just feel comfortable choosing the in-house role IF it does get offered if I know what I am passing up in terms of compensation with an IB. This is the first time I am interviewing with an IB - would just like to know what I would be passing up.
    Is the compensation differential very big for an in-house v. IB compliance?


    Thanks in advance for reading. Special thanks for responding!!


  2. #12

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    looking - I am glad that you found this helpful.

    One of my friends, who went to Harvard law, did the in-house for few years and then joined a major league law firm. Right now the person is on a fast track for partnership.

    If you do your job right and play your cards smart - money always follows.

    Just don't forget your earlier promise of doing the same to the next newbee!!!


  3. #13

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    Quote Originally Posted by looking@HK:
    Thank you all!!!

    I completely agree! My heart's in the in-house role too. That is probably where I will end up. BUT ... having heard SO MUCH regarding IB compensation, I would rather know the ballpark numbers and choose in-house instead of choosing without knowing. Control issues ... not sure, perhaps yes. I would just feel comfortable choosing the in-house role IF it does get offered if I know what I am passing up in terms of compensation with an IB. This is the first time I am interviewing with an IB - would just like to know what I would be passing up.
    Is the compensation differential very big for an in-house v. IB compliance?


    Thanks in advance for reading. Special thanks for responding!!
    Let me repeat what has been mentioned a number of times already in this forum: IB compensation varies dramatically by role/function - back office/middle office/support people with very few exceptions do not make anything close to what bankers/front office personnel earn.
    Compared to similar roles in a non-banking environment pay still tends to be pretty good, but it is not anywhere close to the mythical IB numbers bandied about by people (case in point: none of my analysts would get out of bed for the HKD~1 million figure mentioned above). In fact, I would expect the in-house role to pay better than IB compliance (if not right from the start, then almost certainly a couple of years down the road). Good luck.

  4. #14

    Even a banker with 2-3 years of banking experience wont get 1m HKD (salary, excluding bonus) in a top tier US bank here in HK.

    be realistic. look at what HK lawyers with 2-3 years of experience at top law firms get, and may be add a bit more to that number - this is a realistic salary number.


  5. #15

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    Quote Originally Posted by beachball:
    (case in point: none of my analysts would get out of bed for the HKD~1 million figure mentioned above).
    how much wld they get out of bed for then ? 2mil ? 3mil ? hmmm

  6. #16

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    Quote Originally Posted by dzysheep:
    Even a banker with 2-3 years of banking experience wont get 1m HKD (salary, excluding bonus) in a top tier US bank here in HK.

    be realistic. look at what HK lawyers with 2-3 years of experience at top law firms get, and may be add a bit more to that number - this is a realistic salary number.
    True - this includes bonus for analysts level bankers

    Quote Originally Posted by freeir:
    how much wld they get out of bed for then ? 2mil ? 3mil ? hmmm
    Haha, not getting out of bed at all today given how hard they have been cranking the last few days.

  7. #17

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    Quote Originally Posted by beachball:
    Let me repeat what has been mentioned a number of times already in this forum: IB compensation varies dramatically by role/function - back office/middle office/support people with very few exceptions do not make anything close to what bankers/front office personnel earn.
    Totally true. You can't imagine how wide the gap can be.

  8. #18

    Thanks!!

    Thank you all! The discussions certainly help. And yes Howard, I do stand by my promise. Forums are addictive - Example: it's been a few years since I became a US resident but I still hang out on those forums trying to help out others or rather, save them some agony

    So what do HK lawyers at a big law firm make 2-3 years out of law school. Based on information available at recruiting agencies, the number is HK$80,000 - HK$110,000 per month. Sounds right? Low? High? Do they typically get a housing allowance on top of this - this part is not very clear.

    Thanks a BUNCH! This has been very helpful. I am hoping for the in-house role as well.


  9. #19
    Quote Originally Posted by looking@HK:

    So what do HK lawyers at a big law firm make 2-3 years out of law school. Based on information available at recruiting agencies, the number is HK$80,000 - HK$110,000 per month. Sounds right? Low? High? Do they typically get a housing allowance on top of this - this part is not very clear.
    i dont know where you are getting these numbers from, they are ridiculously high (even without a housing allowance).

    lawyers in HK start as trainees, they usually get about 40k/mth. the traineeship goes for about 18 months.

    After that, the trainees become associates, and the pay goes up to about 65k. The next big pay increase happens after promotion to senior associate. but usually this is after 2-3 years at associate level.

    reading your post again, it seems to me that you will be taking on more of a compliance role. we have in-house compliance at where i work who are not qualified as lawyers. and i would expect pay to be very different to the in-house lawyers (who are intimiately involved in a deal, including reviewing, drafting of legal documetations, negotiations, structuring, etc.). These in-house lawyers are on a totally different pay-scale to the compliance guys.

    i agree with what beachball said, pay-scale in an IB varies greatly. how much you get paid really depends on how involved you are in the process of bringing the $$.
    Last edited by dzysheep; 22-02-2007 at 11:54 PM.

  10. #20

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    Quote Originally Posted by beachball:
    True - this includes bonus for analysts level bankers

    Haha, not getting out of bed at all today given how hard they have been cranking the last few days.
    errr. sorry beachball. i'm abit densed..
    but jsut to clarify, are you saying 1mil hkd is too little or too much for your analyst..
    i've to figure out if capital market is the place to stay or shld i dive into investment banking. ahhaa