Risk Manager Earns $300k
April 28th, 2010
According to this Bloomberg news article, a Singapore-based senior risk manager with a foreign bank earns between $300k and $400k annually.
“Aldabe’s agreed annual salary was $220,000, an additional target bonus of $170,000 and $30,000 in restricted shares. On Nov. 6, 2008, Standard Chartered informed Aldabe that his annual wage was S$323,400, based on an exchange rate of S$1.47.”
The role of a financial risk manager varies. He could be involved in managing the financial institution’s exposure to market risk, credit risk, model risk, operational risk and/or liquidity risk.
There are other kinds of risk management too, both within the financial industry and outside of it. Examples include information security risk management and enterprise risk management.
. reasons are obvious if you scroll down this forum –...
financial slave Says:
April 29th, 2010 at 9:28 am
$300k-$400k may be astounding to most locals, but honestly it’s really not a lot for a 43-year old expat in the financial industry. And his bonus isn’t even 1x.
Front office bankers who are 10 years younger already make that in salary, with more bonus upside of 2-3x.
bmw Says:
April 29th, 2010 at 11:24 am
the thing is how many people can be in FO? outside of this group of lucky traders and ibankers, the rest are all part of a rat race where 200k is a dream come true and 300k is like striking lottery.
come on Says:
April 29th, 2010 at 11:33 am
come on guys..i am tired of people always saying that there are traders and bankers earning alot more etc. I know this is true but how many of them are there? I dont think it is even 5% of the entire workforce in SG right? So why are we even comparing ourselves against these people. There are always people who earn more than somewhere out there and i feel that it is more realistic to benchmark against the norm.
well said! Says:
April 29th, 2010 at 12:20 pm
well said!
financial slave Says:
April 29th, 2010 at 12:53 pm
nobody is saying that $300k is the norm and that you should be comparing yourself to that. Unless, of course, you are a 43-year old expat in the financial industry yourself, then that would be the benchmark.
if you are a 30+ year old Singaporean engineer and making $100k, I’d say you’re pretty accomplished among your peers and have done quite well for yourself.
however, if you are a 30+ year old expat banker and you’re making $100k, sorry to say this, but that’s seriously loser with a capital “L”.
haha Says:
April 29th, 2010 at 3:52 pm
$300k-$400k is actually sad pay for someone who’s 43 and in the middle office of a foreign bank!
poor Says:
April 29th, 2010 at 6:44 pm
300k!! wow
kacau kacau Says:
April 29th, 2010 at 7:20 pm
Come on…dun be so hard on urselves. The median income in singapore is 45k or so.
financial sector employee Says:
April 29th, 2010 at 8:19 pm
220PM or 18K/m + bonus is a good pay (to me its a dream pay).
But it’s all relative, I know few French expats in their early 30s getting this kind of pay.
Curious Says:
April 30th, 2010 at 11:53 am
Not sure why the heading says $300k – his package is actually US$420,000 including bonus. Bonus for risk manager is quite certain. In Sing dollars, that’s like S$617,xxx.
Question i have is, what kind of package would a comparable person but non-expat, get? Close to this?
Cool Says:
April 30th, 2010 at 8:53 pm
According to the article, that guy is a “global senior risk manager”, not just any ordinary middle office risk guy…I think there should be lesser than 10 such risk guys within Stanchart Singapore? So it’s no surprise given the salary he’s drawing..
yes Says:
May 2nd, 2010 at 4:27 pm
i think combined retail-banking, commercial banking, investment banking risk managers of various risk management functions (i.e. credit risk, market risk, operational risk, liquidity risk) at senior level or higher should be more than 50 in stanchart, as the global functions are based here
garusg Says:
June 20th, 2010 at 5:35 pm
Does anyone know how much they make for the company?