Welcome Guest ( Log In | Register )

Bump Topic Topic Closed RSS Feed

Outline · [ Standard ] · Linear+

 Maybank @ 2021 for AVP position

views
     
TSkobe8byrant
post Jun 12 2021, 10:29 PM, updated 3y ago

I'm too old for this stuff
********
All Stars
12,275 posts

Joined: Dec 2005
From: KL


Hi guys, got an offer from MBB. Was wondering any feedback on a AVP role in MBB @ 2021.

Thinking about:
1. Working hours.
2. Working environment / pace.
3. Training opportunities (certification).
4. Promotion / transfer opportunities
5. Staff benefits
6. Hierarchy - is AVP good?

Feedback is welcome!

This post has been edited by kobe8byrant: Jun 12 2021, 10:30 PM
cockerish
post Jun 12 2021, 10:35 PM

12k SP@M Club
********
All Stars
13,619 posts

Joined: Jan 2003
From: between your legs


Park
contestchris
post Jun 12 2021, 10:36 PM

Look at all my stars!!
*******
Senior Member
4,335 posts

Joined: Aug 2011
Which department?
TSkobe8byrant
post Jun 12 2021, 10:41 PM

I'm too old for this stuff
********
All Stars
12,275 posts

Joined: Dec 2005
From: KL


Risk department smile.gif
Helpmeplis
post Jun 12 2021, 10:51 PM

Getting Started
**
Junior Member
156 posts

Joined: Nov 2018
QUOTE(kobe8byrant @ Jun 12 2021, 10:29 PM)
Hi guys, got an offer from MBB. Was wondering any feedback on a AVP role in MBB @ 2021.

Thinking about:
1. Working hours.
2. Working environment / pace.
3. Training opportunities (certification).
4. Promotion / transfer opportunities
5. Staff benefits
6. Hierarchy - is AVP good?

Feedback is welcome!
*
Considering that I worked in one of the investment bank, perhaps I can answer some of your enquiry here. However, this answer is more suited for IB side & it will different alot if you are coming from corporate/SME side.

1. Working hours : 6a.m to 8p.m for 5 days a week. Sometimes, I have work to on weekends as well.
2. Working environment : I had alot of great colleagues but there were some bad apples. Nonetheless, I learned alot of knowledge that I use until now.
3. Training opportunities : I was sent to alot of trainings. Most of the banks training centres are located in Bangi. They have Public, Maybank, RHB & CIMB training center there.
4. Promotion/transfer : This depends on your boss & your performance. Speaking from my experience, I never saw anyone got promoted internally. All of my colleagues left to other IB for better opportunities & pay. This happens quite often & you will realize this as you enter this industry.
5. Staff benefits : This is where I believe no other sector can compete with banks. I was given 24 days annual leave, 18% EPF by employer, unlimited outpatient for me & my family. Even my friends my friends in Petronas was envious of me for this lol.
6. Hierarchy: There is general misunderstanding when it comes titles in banking sector. Often times the title sound very bombastic but the pay is very low. Usually anyone with 3 years of experience can get AVP title in the bank that I worked previously. I even know someone with a title " head" but his pay was just 7k. So don't fully rely on title when it comes to banking. The grade is more reliable to judge your hierarchy than the title.

Btw, if you don't mind me asking, Which area of banking are you being offered ?



lmaowtf123
post Jun 12 2021, 11:00 PM

New Member
*
Newbie
17 posts

Joined: Jul 2017
QUOTE(Helpmeplis @ Jun 12 2021, 10:51 PM)
Considering that I worked in one of the investment bank, perhaps I can answer some of your enquiry here. However, this answer is more suited for IB side & it will different alot if you are coming from corporate/SME side.

1. Working hours : 6a.m to 8p.m for 5 days a week. Sometimes, I have work to on weekends as well.
2. Working environment : I had alot of great colleagues but there were some bad apples. Nonetheless, I learned alot of knowledge that I use until now.
3. Training opportunities : I was sent to alot of trainings. Most of the banks training centres are located in Bangi. They have Public, Maybank, RHB & CIMB training center there.
4. Promotion/transfer : This depends on your boss & your performance. Speaking from my experience, I never saw anyone got promoted internally. All of my colleagues left to other IB for better opportunities & pay. This happens quite often & you will realize this as you enter this industry.
5. Staff benefits : This is where I believe no other sector can compete with banks. I was given 24 days annual leave, 18% EPF by employer, unlimited outpatient for me & my family. Even my friends my friends in Petronas was envious of me for this lol.
6. Hierarchy:  There is general misunderstanding when it comes titles in banking sector. Often times the title sound very bombastic but the pay is very low. Usually anyone with 3 years of experience can get AVP title in the bank that I worked previously. I even know someone with a title " head" but his pay was just 7k. So don't fully rely on title when it comes to banking. The grade is more reliable to judge your hierarchy than the title.

Btw, if you don't mind me asking, Which area of banking are you being offered ?
*
Wow this is very comprehensive and helpful to me&anyone even though I am not the Thread Starter haha. Thanks, but woah 6am to 8pm = 14 hours per day + weekend have to work as well [although the pay is good from what I heard].

Does this applies to IT department as well?

This post has been edited by lmaowtf123: Jun 12 2021, 11:01 PM
TSkobe8byrant
post Jun 12 2021, 11:01 PM

I'm too old for this stuff
********
All Stars
12,275 posts

Joined: Dec 2005
From: KL


QUOTE(Helpmeplis @ Jun 12 2021, 10:51 PM)
Considering that I worked in one of the investment bank, perhaps I can answer some of your enquiry here. However, this answer is more suited for IB side & it will different alot if you are coming from corporate/SME side.

1. Working hours : 6a.m to 8p.m for 5 days a week. Sometimes, I have work to on weekends as well.
2. Working environment : I had alot of great colleagues but there were some bad apples. Nonetheless, I learned alot of knowledge that I use until now.
3. Training opportunities : I was sent to alot of trainings. Most of the banks training centres are located in Bangi. They have Public, Maybank, RHB & CIMB training center there.
4. Promotion/transfer : This depends on your boss & your performance. Speaking from my experience, I never saw anyone got promoted internally. All of my colleagues left to other IB for better opportunities & pay. This happens quite often & you will realize this as you enter this industry.
5. Staff benefits : This is where I believe no other sector can compete with banks. I was given 24 days annual leave, 18% EPF by employer, unlimited outpatient for me & my family. Even my friends my friends in Petronas was envious of me for this lol.
6. Hierarchy:  There is general misunderstanding when it comes titles in banking sector. Often times the title sound very bombastic but the pay is very low. Usually anyone with 3 years of experience can get AVP title in the bank that I worked previously. I even know someone with a title " head" but his pay was just 7k. So don't fully rely on title when it comes to banking. The grade is more reliable to judge your hierarchy than the title.

Btw, if you don't mind me asking, Which area of banking are you being offered ?
*
Hey man thanks for your input. Much appreciated for the details.

I'm in Risk department so kinda curious on how it will be like. Reason for dilemma is because I am in a senior position in insurance (can't disclose at the moment), and seems like I'll be more junior in the bank (but much more reputable).

18% EPF is unheard of for me, I usually thought 16% was the gold standard so that's eye opening. A lot of banks I know have rescinded their unlimited medical benefits due to high claim utilisation.
Helpmeplis
post Jun 13 2021, 12:10 AM

Getting Started
**
Junior Member
156 posts

Joined: Nov 2018
QUOTE(lmaowtf123 @ Jun 12 2021, 11:00 PM)
Wow this is very comprehensive and helpful to me&anyone even though I am not the Thread Starter haha. Thanks, but woah 6am to 8pm = 14 hours per day + weekend have to work as well [although the pay is good from what I heard].

Does this applies to IT department as well?
*
Yes 14 hours is very normal in IB. I have even spent a whole day in front of trading desk. This is apart of the reason why I actually left the industry, there is just zero work life balance. Most of those in IB will just get burnt out by their job & leave for greener pesture.

The pay is relatively higher than other sector. However, if you divide it by the work hours, I would say it would be the same or even lower than most sectors lol.

This post has been edited by Helpmeplis: Jun 13 2021, 12:16 AM
Helpmeplis
post Jun 13 2021, 12:16 AM

Getting Started
**
Junior Member
156 posts

Joined: Nov 2018
QUOTE(kobe8byrant @ Jun 12 2021, 11:01 PM)
Hey man thanks for your input. Much appreciated for the details.

I'm in Risk department so kinda curious on how it will be like. Reason for dilemma is because I am in a senior position in insurance (can't disclose at the moment), and seems like I'll be more junior in the bank (but much more reputable).

18% EPF is unheard of for me, I usually thought 16% was the gold standard so that's eye opening. A lot of banks I know have rescinded their unlimited medical benefits due to high claim utilisation.
*
If you are taking up a junior role, I would suggest you to really weigh your options first. Are jumping purely for the pay increase ? How much is the increment that you are being offered ? You can pm me if you don't want to disclose it here

The normal rate is 16% however, this varies according to hiring package & departments. I was given 18% as I was on a Management trainee package. Ultimately, if you serve for 3 years, you will be given a 18% EPF contribution in IB. So, in my case they decided to give it from the very start as I was bonded for 4 years.
MANU4LIFE
post Jun 13 2021, 01:07 AM

Getting Started
**
Junior Member
114 posts

Joined: Nov 2009
is AVP in Maybank IB same as Manager? does all new hire gets 16% or 18% employer EPF?
Helpmeplis
post Jun 13 2021, 01:16 AM

Getting Started
**
Junior Member
156 posts

Joined: Nov 2018
QUOTE(MANU4LIFE @ Jun 13 2021, 01:07 AM)
is AVP in Maybank IB same as Manager? does all new hire gets 16% or 18% employer EPF?
*
EPF contribution depends on years of your service in the bank. The starting is always 16%. However, this goes up according to your years of service & the department that you are serving.
MANU4LIFE
post Jun 13 2021, 01:19 AM

Getting Started
**
Junior Member
114 posts

Joined: Nov 2009
QUOTE(Helpmeplis @ Jun 13 2021, 01:16 AM)
EPF contribution depends on years of your service in the bank. The starting is always 16%. However, this goes up according to your years of service & the department that you are serving.
*
oh i see thanks a lot for the info, may i know if AVP = Manager? or is Manager higher?
Helpmeplis
post Jun 13 2021, 01:31 AM

Getting Started
**
Junior Member
156 posts

Joined: Nov 2018
QUOTE(MANU4LIFE @ Jun 13 2021, 01:19 AM)
oh i see thanks a lot for the info, may i know if AVP = Manager? or is Manager higher?
*
The hierarchy depends on which bank. Some banks are AVP= Manager, some banks are AVP = Assistant Manager
Michael_Light
post Jun 13 2021, 06:42 AM

Casual
***
Junior Member
473 posts

Joined: Dec 2010
From: Kuala Lumpur


I am interested to know about the corporate title hierarchy as well for future reference. Your previous bankgroud is from bank right? Then i am sure you have some idea already.
MANU4LIFE
post Jun 13 2021, 01:07 PM

Getting Started
**
Junior Member
114 posts

Joined: Nov 2009
QUOTE(Helpmeplis @ Jun 13 2021, 01:31 AM)
The hierarchy depends on which bank. Some banks are AVP= Manager, some banks are AVP = Assistant Manager
*
Yeah I mean for Maybank IB
pltan
post Jun 13 2021, 03:16 PM

Casual
***
Junior Member
499 posts

Joined: Oct 2008
From: Kuala Lumpur


At Merrill Lynch for Front Office Positions it was

Analyst
Associate
VP
Director
Managing Director
sendomike
post Jun 13 2021, 06:10 PM

Enthusiast
*****
Senior Member
854 posts

Joined: May 2010
From: Petaling Jaya, Selangor


For investment banking front office, analyst & associate is considered pretty low level positions.
Analysts/Assoc/VP all don't have direct reports and reports to ED.

for back office, associate is a manager who manages a team of analysts and/or even other associates.
a VP in backoffice is considered very senior and manages a whole process as process owner smile.gif

there is usually no AVP in international banks, the Associate 2 position is considered AVP i guess.

This post has been edited by sendomike: Jun 13 2021, 06:11 PM
SUSAhmad Zulkifli
post Jun 13 2021, 07:29 PM

Getting Started
**
Junior Member
50 posts

Joined: Aug 2020
Very toxic managers...
Topace111
post Jun 13 2021, 10:34 PM

Look at all my stars!!
*******
Senior Member
2,102 posts

Joined: Feb 2008
QUOTE(kobe8byrant @ Jun 12 2021, 10:29 PM)
Hi guys, got an offer from MBB. Was wondering any feedback on a AVP role in MBB @ 2021.

Thinking about:
1. Working hours.
2. Working environment / pace.
3. Training opportunities (certification).
4. Promotion / transfer opportunities
5. Staff benefits
6. Hierarchy - is AVP good?

Feedback is welcome!
*
1. Hours should be standard. Depends on boss and dept culture on working late
2. Maybank generally big but slower. Pbb is big but lots of work. Then you have the likes of CIMB, HLB that's fast.
3. Training is mostly staff request. You can request from boss to attend training you like (mostly ok with sufficient training budget)
4. Transfer is easy in large banks like mbb. Promotion should be standard every 2-3 year if your boss likes you. If your boss dislike you, nothing is guaranteed
5. Staff benefits should standard with local banks but all banks on cost cutting exercise recently after c19.
6. Assistant vice president/ senior manager / associate director should be middle management (higher than manager but lower than head of department).

This post has been edited by Topace111: Jun 13 2021, 10:36 PM

Topic ClosedOptions
 

Change to:
| Lo-Fi Version
0.0153sec    0.38    5 queries    GZIP Disabled
Time is now: 28th March 2024 - 11:48 PM