IT Director in a bank. Request salary advise

[expattech]

I have got an offer of S$300,000 per year including annual bonus from an international bank. The position is as a director in technology. This is a local contract and there are no relocation and expat benefits.

I can comfortably live on this salary.

However request advice on whether this is a competitive salary for this role.

I will be managing a team of VPs and reporting to an MD.

[PNGMK]

I have got an offer of S$300,000 per year including annual bonus from an international bank. The position is as a director in technology. This is a local contract and there are no relocation and expat benefits.

I can comfortably live on this salary.

However request advice on whether this is a competitive salary for this role.

I will be managing a team of VPs and reporting to an MD.

IS there a Spears or similar report for your industry?

[nutnut]

So like a senior VP under an MD, or a VP team lead?

Anyway, $300K (including bonus) seems about right for either role. It does depend on a lot of things though.

[Wd40]

I think $250k base is minimum for director in IB IT.

[expattech]

So like a senior VP under an MD, or a VP team lead?

Anyway, $300K (including bonus) seems about right for either role. It does depend on a lot of things though.

Its equivalent to SVP or Senior VP.

However reading many Singapore based salary forums, it looks like VP pay in SG comes to 300k all-in? But not sure whether these forum posters are believable.

[expattech]

I think $250k base is minimum for director in IB IT.

Yes. the base is around there. With the remaining bonus

[Wd40]

So like a senior VP under an MD, or a VP team lead?

Anyway, $300K (including bonus) seems about right for either role. It does depend on a lot of things though.

Its equivalent to SVP or Senior VP.

However reading many Singapore based salary forums, it looks like VP pay in SG comes to 300k all-in? But not sure whether these forum posters are believable.

Those VPs are not bank VPs. Instead they are management level, leading entire product lines etc. For example titles like "Vice President - Sales & Marketing" etc.

In banks VPs are like SMEs or project managers at best and the salary is $140k +

[expattech]

So like a senior VP under an MD, or a VP team lead?

Anyway, $300K (including bonus) seems about right for either role. It does depend on a lot of things though.

Its equivalent to SVP or Senior VP.

However reading many Singapore based salary forums, it looks like VP pay in SG comes to 300k all-in? But not sure whether these forum posters are believable.

Those VPs are not bank VPs. Instead they are management level, leading entire product lines etc. For example titles like "Vice President - Sales & Marketing" etc.

In banks VPs are like SMEs or project managers at best and the salary is $140k +

Thanks.
However, the salary forums I have read are bank IT VPs with 300k

Also to clarify, this Director role is equivalent to SVP or Senior Vice President in retail banks that do not have the "Director" grade as that is more of an IB thing.

[BoroBoy]

I have know an IT VP in a IB in SG earn $300k and Director earn $250k, both before bonuses. It depends on your role and responsibilities. $300k is about right as an average though.

[expattech]

$300k is about right as an average though.

Thanks for the info... This 300k average is including bonus or just base?

[BoroBoy]

$300k is about right as an average though.

Thanks for the info... This 300k average is including bonus or just base?

as a base, not including bonuses. Bonuses aren't great nower days though

[kendrawph]

Hope you have grab this offer. It's not easy to get this good offer. All the best pal.

[ecureilx]

Hope you have grab this offer. It's not easy to get this good offer. All the best pal.

After 4 years, I am sure you advice is very valuable.

[subashgk007]

[brian_singapore]

It really depends on the bank and the discipline. (I.e. prod support, development, intra etc.)

A director at one bank is equivalent to an SVP at a second. At these same 2 banks, the Executive Director is equivalent to the director of the second.

Another bank has no directors but 3 levels of VPs and the top level VP is the same as the director at the second bank above.

Yet one more has an SVP at the top level, which is the same as D/MD depending on responsiblity and role.....

These are all multi-national banks.