Sounds a bit low. My recent t two jumps (fellow banker here ) was around 20% each within a few months apart. More details?

Hmm, my personal feeling is that 11% for a 2.5 years experience is on the low side, but it could possibly be due to a totally new field? I was lucky to get that 20% because I was moving in to a totally new area but then again, I think I was lucky as well when I jumped after a few months to something I was more familiar with and still get another 20% bump.

Perhaps try to negotiate something higher? If it fails, you can still go back to taking the 11% so no harm trying unless they are adamant about the 11%.

I think this is extremely underpaid

With your experience and qualification alone, I'd look at more than double of what you get now.

Not really. It might be important for an entry level job or a very technical one because it implies an basic understanding of the theoretical knowledge or simply the industry practice, but for senior roles experience and achievements far trump and degree you can flash.

Take a stock check around the successful people, you will be surprise at how little they talk or even care about a degree.

Job Title : Rewards Specialist
Job Desciption : Looking at the remuneration structure of the org.
Years spent in company : 5 months
Company : GLC
Industry : Finance
Tenure : Permanent
Employment Level : Junior Management
Experience before joining : 2 years
Highest paper qualification/ education background : Degree
Salary : RM6600 + RM160 allowance + 6-8 months bonus

This post has been edited by fuzzy: May 22 2014, 04:47 PM

Pyschology

Not sure what you want to know. I'm in Malaysia working for a FI. I don't think my pay is high at all, in fact it's probably lower because I had a later start to my 'career' compared to some of my peers.

But I have jumped a couple of times because I didn't felt I'd hit this salary if I remained in the same place and grew organically that soon.

I'm not that smart

Rewards is a HR component, just happened to be a specialist in a finance field at the moment. I have received offers to move cross industry (FMCG, MLM and O&G) but I'm not as keen currently.

Psychology bro.

I did make 2 jumps within a year due to better pay and I do have working experience (albeit part time) during my study years

Plus, Rewards is a specialised field, so the pay position is slightly higher compared to a generalist due to the limited pool, and if you factor in a position for a financial industry, its even fewer. Unless something drastic changes, I forsee no problem in me getting a position if I decide to jump tomorrow, even.

Nope, though I am exploring a Masters, hopefully soon.

I initially started in a different department before being offered a Rewards position. Subsequently I made a couple of jumps to where I am now. Having knowledge of the industry remunerations didn't hurt either

But I have to admit I have been blessed to have been able to join and remain hired by the top tier FI, which pays much better for their specialist. It is also a big boost to my resume as I from the get go have been working regional projects which adds another element to it, as many FI's as exploring the overseas market now so they pay a premium for those with these experience.

Not in the position to reveal too much la bro

But, I've been in working for the top tier FI's

Well, perhaps not a specific challenge that I face, but in general what Rewards team face.

1) Sensitivity to data - we deal in one of the most sensitive area (especially in Asia) of a workplace, your compensation. Rewards team gets access to everyone's pay data so it is crucial that they understand the importance that role and be able to keep it confidential. You won't believe how many people do try and tease out details such as how much bonus they can expect, and we have had odd cases where a spouse had called the Rewards team to try to find out how much bonus his/her partner got because they think some cheating is going on.

2) Availability of data - Pay data is hard to get at times. While you have compensation surveys around, you can face challenges in verifying those details and for some positions, no one is willing to share those details. Even between your internal counterparts, some might be hesitant to share data simply because it is sensitive in their view.

3) Reconciling what we say and what we do - In a way, I'm lucky to have spend most of my young career in areas which takes a real concern in the area of remuneration and benefits. Many large organisation (including some of the listed companies) takes HR as a largely administrative function of no value, I have gone to interviews where the organisation was just starting a rewards team and the role offered was to create and head such a team, yet they were only willing to pay my current salary.

Many organisation still doesn't see that their human capital is the most valuable asset they have and how much hidden losses they occur because they didn't bother to implement proper structures on hiring, rewarding, training and retaining talents because they were far too focus on products.

So, while it is easy for anyone to blurt out how important their people is to the organisation, getting them to really believing in that mantra and carry out initiatives that supports that mantra is really hard.

Definitely. I know some of the department heads that holds engineering degrees, some are MBA holders and you can also see some of the CEO of large companies have held some HR roles in the past. HR is more than just mere administrative, as companies begin to invest in talents, you can see some strategic functions (i.e Rewards, Talent Management, etc) popping up that requires very different skillset than the traditional HR functions.

Nice, congrats

Depending on the bank, he's either one or two level to reach Manager. 7k reflects his talent and experience, grades usually doesn't mean as much as it used to be. Some banks allow a pretty with salary range for certain grades.

Annual increment not that hard to predict la bro, especially in Banking

Your salary includes things like OT?

Haven't got the full detail, but initial look would suggest a 6-10% average

But that is subjective to your boss and your dept budget as well. Also, see which bank you work for as their pay philosophy might be different

I'm in Rewards for a FI as well

The compensation and benefits part of HR

One of the coolest job I've heard

I can only judge by my experiences of playing Euro Truck Simulator

Judging by my skills in the game, I'd probably ruin everyone's day if I drove a truck