Caproasia

What is …

• What is a Personal Banker?
• What is a Priority Banker?
• What is a Private Banker?
• What is an Insurance Specialist?

Career 101

• Getting Started
• Overview
• Financial Institution

Quick Guide

• Industry Overview
• Retail Banks vs Private Banks
• Banks vs Non-Banks
• Advisory vs Non-Advisory
• Onshore vs Offshore
• Front Office vs Middle Office
• Financial Advisors
• Salary
• Education
• Certification
• Regulation

Useful Lists

• Types of Financial Institution
• 14 Retail Banks
• 10 Insurance Co.
• 35 Fund Management Firms
• Regional Private Banks
• International Private Banks
• Boutique Private Banks
• Wealth Management Publications
• Independent Financial Advisory Firms

Career

• Direct Application
• Fresh Graduates Application
• 3rd Party Sites Application
• Internships
• Career Advancement

Estimated Starting Salary

• DBS Bank – SGD 2800
• OCBC Bank – SGD 2800
• UOB Bank – SGD 2700
• Citibank – SGD 3500
• HSBC Bank – SGD 3200
• Standard Chartered Bank – SGD 3100
• ANZ Bank – SGD 2900
• May Bank – SGD 2600
• CIMB Bank – SGD 2500
• RHB Bank – SGD 2400

Not correct?  Send the latest starting salary to us and stand a chance to win $20 Takashimaya Vouchers.

Email: [email protected]

Almost everyone wants to be the wealth manager. It is the most important role since the wealth manager is the one who manage the relationship and financial portfolio for customers. However, many give up give as soon as they realize the role of a wealth manager is more than just relationship and investments.

Perceived Work of Wealth Managers:

• Relationship Management
• Portfolio Management
• Investment Analysis

Actual Work of Wealth Managers:

• Client Acquisition
• Relationship Management
• Sales & Revenue
• Client & Portfolio Management
• Operations & Administration
• Training and Learning
• Regulation & Compliance

The Reality

The difference in perceived work & actual work caused many to give up, under-perform or become disgruntled with a career in wealth management.  As a wealth manager, especially in banking, you would undergo many examinations and training to be certified and to be qualified as a financial advisor.  This training can sometimes take 4 weeks to 8 weeks.  So it is indeed wasteful that many advisors go through the training, and quit within a few months.  A study conducted shows 50% of Personal Bankers quit in 9 Months.  Read More

Is there any qualifying criteria to be a Wealth Manager?

• Academic Qualifications: Minimum “A” Levels or Diploma
• Minimum Age Requirement: 21 Years Old
• Regulatory Examinations: CMFAS

For Full Details: Effective 1st February 2014 by Monetary Authority of Singapore

I want to be a Wealth Manager.  Where can I apply?

Retail Banks: Many banks have personal banking associate program for fresh graduates.  Banks in Singapore hire a few hundred new graduates every year.  DBS, OCBC, UOB, Citibank & HSBC hire the largest number of fresh graduates every year for their Personal Banking program.  Apply to the banks directly below.

Private Banks: There are also many Private Banks in Singapore and they take in a few thousand new hires every year in various front office and middle office positions.  To be a Wealth Manager immediately is difficult as you would not have at the skill sets or the portfolio to managed.  Banks such as UBS & Credit Suisse have annual intake for Wealth Management Graduates where they will train fresh graduates into future Wealth Managers by starting either as Assistant Private Bankers or in various front office or middle office positions.

Non-Banks:  Other than the banking industry, financial service providers such as insurance companies & agencies, Independent financial advisory firms, Brokerages and fund management providers also hire many wealth managers.

Career with DBS Bank

Apply to DBS Bank

• DBS Career Programmes
• Management Associate Programmes
• Graduate Associate Programmes
• Other Programmes
• Management Internships Programmes

Personal Financial Consultant (Consumer Banking)

 

Apply to OCBC Bank

Direct Link

Career with UOB Bank

Apply to UOB Bank

• Personal Banking Associate
• General Application
• Summer Internships

Career with Citibank

Apply to Citibank

• Personal Banker

Career with ANZ Bank

Apply to ANZ Bank

• Coming Soon

Career with Maybank

Apply to Maybank

• Wealth Manager

Career with RHB Bank

Apply to RHB Bank

• All Jobs

Entry Level Jobs: Where you get started

• Personal Banker
• Insurance Specialist
• Loan Specialist
• Assistant Private Banker
• Service Relationship Manager

Mid Level Jobs: After a few years of experience

• Priority Banker
• Investment Advisor
• Treasury Advisor
• Loan Specialist
• Assistant Private Banker

Senior Level Jobs: After years of hard work

• Private Banker
• Investment Advisor
• Treasury Advisor
• Portfolio Advisor
• Management Jobs
• Specialist Jobs
• Popular Banks

Popular Jobs

• Personal Banker
• Priority Banker
• Private Banker
• Investment Advisor
• Assistant Private Banker

Popular Banks

• DBS Bank
• OCBC Bank
• UOB Bank
• Citibank
• HSBC Bank
• Standard Chartered Bank
• ANZ Bank
• CIMB Bank

Popular Private Banks

• UBS
• Credit Suisse
• DBS
• Bank of Singapore
• Deutsche Bank
• BNP Paribas
• Julius Baer