if u are casually scanning through the straits times today, perhaps u can't fail but notice this headlined news that private bankers earn more here than in HK.
evidently, looking after the affluent's needs here in our tiny red dot nation really pays. excluding bonuses, senior private bankers can take home between US$164,000 and US$410,500 annually. their counterparts in HK earn US$195,000 and US$218,000 while those in switzerland only US$153,000 to US$209,000 a year.
and these big pay packets may be the direct result of a tug-of-war amongst banks to recruit experienced private bankers to serve those with loads of moola.
according to a report by merrill lynch global wealth management and capgemini that asia-pacific's population of high-net-worth individuals grew 9.7% to 3.3 million in 2010 with their wealth growing 12.1% in value to US$10.8 trillion.
my comments:
after doing 'national service' for the past 14 years in promiseland independent, what have i got to show for myself and my family? well, honestly speaking, i don't even earn a fraction of what these private bankers take home annually.
even if i take into consideration, the total of my 13 years' income, it still falls short of what a private banker can earn in the short and sweet period of twelve months.
and that's why any wannabe fa who has gone through my interview will be sold on the hard truth that our business is not about making big bucks (not that i have anything against other people taking home super salaries and bonuses) and the client's interests always come first.
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