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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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    33

    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
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    3,240

    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
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    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
    Nov 2018
    Posts
    33

    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


  5. #5

    Join Date
    Jul 2012
    Posts
    1,516

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


  6. #6

    Join Date
    May 2011
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    Sai Kung
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    What’s more surprising to me is the continued use of the term back office. Usually the people that are saving front office arses!

    I’m ‘front office’


  7. #7

    Join Date
    Nov 2018
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    33

    Thanks Grumbler


  8. #8

    Join Date
    Nov 2018
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    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...


  9. #9

    Join Date
    Nov 2018
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    33

    Don’t mind whatever the terms... I use to do frontline sales and decided it wasn’t for me, due to my introvert nature. I much more enjoy being at the back end dealing with process and policies, over meeting with clients.


  10. #10

    Join Date
    Aug 2010
    Posts
    122

    I would say that at last your bas should be circa 120-135k per month, as a bonus you should be looking at least 30%, the 10% quoted is low, very low. The HR functions are very loath to give a number obviously but they should be able to quote a percentage. Also something else to consider, its now June so you wont receive a full bonus but rather a prorated one. If you applied through an agency the recruitment agent should be able to tell you more.


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