lol let me help to reply on that CIMB Management Trainee Vs HSBC Management Trainee Part...

I dont know much about CIMB, that one you can refer to obloni but yes, HSBC's RMT (thats what they call the management trainees) gets paid higher.. starting salary is 2900+1200 (lifestyle allowance) = 4100/month

So what is this Lifestyle Allowance? Well its the allowance that all Executives (assistant manager and above) in HSBC enjoy because they dont get the normal housing allowance loan benefit (rate 2% per annum like other banks)

Well bear in mind when u graduate as an RMT, u will automatically become an Assistant Manager, and the benefits are awesome. I've been in several banks, and by far the benefits in HSBC is incomparable to other banks!

Ok so where are you going to be posted after u finish your RMT program? You may be posted to any of the departments in the bank, except for Global Markets (Treasury) or Global Banking (Corporate and Investment Banking)

Why as RMTs you are not given the chance to go to these two departments? because these 2 departments are the cream of the crop in HSBC...so U need to have experience before u cam move to these departments

Another thing, HSBC will send you for RMT Training, 1 month in Bricketwood, UK and another few weeks in HK

Apart from above, the best thing is that, you can go up really2 fast in HSBC... you come in as RMT then graduated as Asst Manager...In 2 years you can be promoted as Manager.. It is THAT fast if you perform..and they dont have the thing like Maybank where u have to be of certain age to become a Manager..in HSBC if you are capable u will go up up and up

Hope this helps u young grads ok! Cheers

---

Added on March 21, 2011, 9:11 pmOh and another thing that I want to clarify...

I quote Obloni

"Your pay in the initial years is definitely higher in HSBC, yes, but the recognition you get from other firms will not be as profound as compared to if you were working with CIMB"

I beg to differ.. When u come from a foreign bank, you will have a higher recognition compared to if u were to come from a local bank

For example, how many ex-CIMBians are in HSBC or Std Chart or Citi? compared to how many ex-HSBC/Citi/Std Chart in our local banks? Working in foreign banks will give a boost to your career profile..

Why? God knows..Market Perception..Same thing like Foreign U/Local U scenario


This post has been edited by boingboing: Mar 21 2011, 09:11 PM