Help needed: what to expect from salary (I- Banking: Finance Valuation review)

[bsc1280]

Hi,

I have done my MBA and have been working for 1.5 years in product control in tokyo for an top toer i-bank. I have been offered another role in HK with a similar bank in Valuation review team in Finance.
I have also passed CFA level 2.
I get 8 millon yen here in tokyo and expect it to increase to 9 million yen by end of december

They have asked me for salary expectation. Can you please help me quote a number for the salary which I shoudl realistically expect to get. I was thinking of saying 600k HK$. what do you think?

[Mat]

1. What type of MBA did you get (top 5 / 10 / 20 ...)
2. Aside from the 1.5 years Product Control what other releveant experiences do you have?

[climber07]

Base market salary for a Jr Product Controller in Hong Kong (with 1.5 years experience) at an i-bank will range from 400k in the lower tier to 550K in the upper tier (that's the tier for employee quality ranking not the bank). Incentive will vary greatly from bank to bank current range is 35k -135k.

As mentioned above, unless your MBA is from a top 10 program......it's just a piece of paper you can put in a nice frame.

Until you pass level 3 CFA and get chartered, no one really cares either.

[freeier]

does ppl care about CFA charter also ? hmm.. you are not a fund manager or an investment advisor right. 8-)

anyway tokyo is high because of the tax and they generally pay alot of bonus even to non-bank staff.

[bsc1280]

Thanks for the replies guys

yes my mBA is not from top 10 programs...

btu you gusy are somehow making me feel sad and low... as if i am worth nothing....I
think i am not that bad :-) (kidding)

anyways...550k is what i reasonably expect to be getting...

i have an undergrad in electronics engineering btw.............

on this pay 550k...is it a good salary for a family of 3 ( 1 year old kid) to live in HK... i plan to spend liek 10k a month on rentals...
on the bonus..is it not that good in HK when compared to Tokyo?

[climber07]

yes my mBA is not from top 10 programs...btu you gusy are somehow making me feel sad and low... as if i am worth nothing....I
think i am not that bad :-) (kidding)

anyways...550k is what i reasonably expect to be getting...

We weren't trying to make you feel bad or worthless (at least not yet ) It's just the truth. As a hiring manager, I am simply telling you my honest view of how I evaluate a resume. The fact is (this is especially true in Asian markets) that so mnay candidates have "M.B.A." that is makes very little distinction between A & B. Also, if you're looking at a skyroketing cost of higher education, it is very difficult to justify a less than top 10 program MBA for JR level positions as your cost/benfit ratio will be heavily skewed against you.

However, as you undergrad was not ina Finance/Accounting field, your MBA is the most relevant piece of your education background.

In any case, good luck and welcome to HK.