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Bonus for a Vice President in Banking

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  1. #1

    Join Date
    Nov 2018
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    18

    Bonus for a Vice President in Banking

    Hi

    Currently mulling over 2 similar jobs in HK. Both are in the Operations function, one for JP Morgan and the other for Morgan Stanley. Job is Onboarding/KYC related.

    Although I know what the salary is, the HR/Recruiter was not able to comment on the bonus level. Can anyone advise roughly how many months bonus can be expected for a VP in Banking Operations in HK.

    Thanks


  2. #2

    Join Date
    Feb 2019
    Posts
    388

    Front office would have huge variance but 50%-150% all achieveable.

    In the back office I'd guess more like 10%-30%. Would be higher if you could find a similar position on the buy side (lots advertising at the moment...).


  3. #3

    Join Date
    Nov 2018
    Posts
    18

    Gentle George

    Thanks... if it is only 10%-30%, no wonder the recruiter was not willing to provide further details. I thought (hoped) it would have been more like 30%-60%.

    Need to give further consideration then.

    Thanks


  4. #4

    Join Date
    Dec 2010
    Posts
    3,124

    does office location play a part in your decision? Morgan Stanley is probably a nicer area to work in


  5. #5

    Join Date
    Nov 2018
    Posts
    18

    Hi Chichow

    As I have a lot of dependents and outgoings, (as shallow as this may seem), my only concern is my total comp. Office location is therefore irrelevant for me, and I just want an idea of the bonus, to make sure I am not taking a loss overall when moving jobs.

    Thanks


  6. #6

    Join Date
    Jul 2012
    Posts
    1,371

    You'd be getting around 2 months bonus for that position I'd guess. Traditional banking isn't as attractive as before.


  7. #7

    Join Date
    Dec 2010
    Posts
    3,124

    It would be surprising to me to expect more than 2 months for a VP back office position in operations which works out to be approx. 15%

    Risk Compliance has higher bonuses with better hours

    regarding hours you may say that all you care about is total comp, but what if you consider your equivalent hourly rate because you are working till 10p every night?

    good luck


  8. #8

    Join Date
    May 2011
    Location
    Sai Kung
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    1,011

    Whats more surprising to me is the continued use of the term back office. Usually the people that are saving front office arses!

    Im front office


  9. #9

    Join Date
    Nov 2018
    Posts
    18

    Thanks Grumbler


  10. #10

    Join Date
    Nov 2018
    Posts
    18

    Chichow

    Thanks

    I already work in Operations and my current employer (Local/International Bank) pays 30% bonus. Whilst I would get a good pay rise to move to an American Investment Bank, it would not be worth it, if my bonus drops to 10-15%.

    The equivalent hourly rate is not important to me, as my cash flow is very tight, so I just need more cash, even if it means working an extra 2-3 hours everyday.

    Thanks for the advice...


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