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IT Director in a bank. Request salary advise

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expattech
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IT Director in a bank. Request salary advise

Postby expattech » Sun, 22 Sep 2013 3:11 am

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.

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Re: IT Director in a bank. Request salary advise

Postby PNGMK » Sun, 22 Sep 2013 10:40 am

expattech wrote: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?

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nutnut
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Postby nutnut » Sun, 22 Sep 2013 10:54 am

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.
nutnut

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Wd40
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Postby Wd40 » Sun, 22 Sep 2013 12:04 pm

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

expattech
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Postby expattech » Sun, 22 Sep 2013 12:46 pm

nutnut wrote: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.
Last edited by expattech on Sun, 22 Sep 2013 12:47 pm, edited 1 time in total.

expattech
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Postby expattech » Sun, 22 Sep 2013 12:47 pm

Wd40 wrote:I think $250k base is minimum for director in IB IT.


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

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Wd40
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Postby Wd40 » Sun, 22 Sep 2013 1:03 pm

expattech wrote:
nutnut wrote: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
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Postby expattech » Sun, 22 Sep 2013 1:07 pm

Wd40 wrote:
expattech wrote:
nutnut wrote: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.

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Postby BoroBoy » Sun, 22 Sep 2013 2:21 pm

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
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Postby expattech » Sun, 22 Sep 2013 3:29 pm

BoroBoy wrote:$300k is about right as an average though.


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

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Postby BoroBoy » Sun, 22 Sep 2013 6:16 pm

expattech wrote:
BoroBoy wrote:$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 :-)

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Re: IT Director in a bank. Request salary advise

Postby kendrawph » Mon, 31 Jul 2017 4:31 pm

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

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ecureilx
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Re: IT Director in a bank. Request salary advise

Postby ecureilx » Mon, 31 Jul 2017 4:54 pm

kendrawph wrote: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.

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subashgk007
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Re: IT Director in a bank. Request salary advise

Postby subashgk007 » Mon, 21 Aug 2017 12:46 am

:D :D :D :D

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Re: IT Director in a bank. Request salary advise

Postby brian_singapore » Tue, 22 Aug 2017 8:16 pm

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.


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