Corporate accounts sales asking salary

[Sorrow]

Hi,

 

as above, any bros/sis in the banking sector can kindly advise on the asking salary for this position? Zero experience in corporate accounts sales but have close to 4-5 years of experience managing ppl and being a person-in-charge of a certain field in my department.

[Toalson]

Why don't just state your own worth and let the company decide or negotiate with you.

Edited December 28, 2009 by Toalson

[Sorrow]

  On 12/28/2009 at 8:17 AM, Toalson said:

Why don't just state your own worth and let the company decide or negotiate with you.

 

hiz Toalson, i don't mind letting the company decide but i would also want to know roughly the salary so that if they ask me to quote, i have a rough figure for them. Because to me, if i dun even know how much to ask for, that shows that I never even did my homework before going for the interview. I have gone online to check for the salary but can't seem to find it anywhere.

 

Juz some info, currently pursuing my degree in Finance and my past dip is in microelectronics

[Porker]

Its always better to let the company quote. The losing party is the one that quotes first.

 

Imagine they having a budget of say $5k for this post and you open $4k.. LOL...

 

They immediately say ok and you find out later but lan lan siao siao liao..

 

Its fine since you know the approx figure so won't kena ketok.

[Sorrow]

  On 12/28/2009 at 12:54 PM, Porker said:

Its always better to let the company quote. The losing party is the one that quotes first.

 

Imagine they having a budget of say $5k for this post and you open $4k.. LOL...

 

They immediately say ok and you find out later but lan lan siao siao liao..

 

Its fine since you know the approx figure so won't kena ketok.

 

hi Porker,prob is me dun have the approx fig, thats y scared kena ketok lor....sob sob

[Wish1719]

  On 12/28/2009 at 1:28 PM, Sorrow said:

hi Porker,prob is me dun have the approx fig, thats y scared kena ketok lor....sob sob

then treat it as a stepping stone lor....

if you are good, no need look so hard...

ppl will cum knocking on your door...

[Keranjang]

  On 12/28/2009 at 8:14 AM, Sorrow said:

Hi,

 

as above, any bros/sis in the banking sector can kindly advise on the asking salary for this position? Zero experience in corporate accounts sales but have close to 4-5 years of experience managing ppl and being a person-in-charge of a certain field in my department.

 

 

Quite low. At most $3.5K.

Hard to afford even a car.

[Sorrow]

  On 12/28/2009 at 1:32 PM, Wish1719 said:

then treat it as a stepping stone lor....

if you are good, no need look so hard...

ppl will cum knocking on your door...

 

true true but its sort of like my first job at a different field...so if ketok, nxt time got phobia lol.... although i believe its an experience learnt.

 

[Rollagt]

  On 12/28/2009 at 8:14 AM, Sorrow said:

Hi,

 

as above, any bros/sis in the banking sector can kindly advise on the asking salary for this position? Zero experience in corporate accounts sales but have close to 4-5 years of experience managing ppl and being a person-in-charge of a certain field in my department.

 

Can U share with us roughly the job scope ? since U had indicated sales I guess U will be drawing a basic and the rest is commission based ?

 

does it mean if a corporate entity opens an account U get a cut ?

 

 

[Jeronlee]

  On 12/28/2009 at 1:28 PM, Sorrow said:

hi Porker,prob is me dun have the approx fig, thats y scared kena ketok lor....sob sob

 

every co. usually have a salary range based on corporate gradings, experience etc. for discussion sake, let's assume the range is $3k-5k for this particular position. if your current pay is $3k, most co. would not pay you anything more than 30% of your current pay hence it's unlikely that the offer would be higher than 4k

 

the thing about sales position compared to the rest is that basic pay is just one of the components that make up your annual pay. below are 2 scenarios explaining why basic is not everything, at least for a sales position.

 

job 1:

basic pay: $4.2k

transport allowance: nil, claim by mileage if driving or taxi receipt, if not.

basic-to-commission structure: 70/30 i.e. 70% basic and 30% from commission

projected annual salary assume meet target: $4.2k x 12 (basic) + $1.8k x 12 (commission) = $72k per annum

 

job 2:

basic pay: $3.5k

transport allowance:$1k

basic-to-commission structure: 50/50 i.e. 50% basic and 50% from commission

projected annual salary assume meet target: $3.5k x 12 (basic) + $3.5k x 12 (commission) + 12k (transport) = $96k per annum

 

on the surface, job 1 appears to be the better offer if you just looked at the basic pay. but overall, job 2 actually allows you to make $24k more yearly.

 

hope this helps in your negotiation with your prospective employer.

Edited December 28, 2009 by Jeronlee

[Myxuxule]

  On 12/28/2009 at 1:35 PM, Keranjang said:

Quite low. At most $3.5K.

Hard to afford even a car.

 

 

Think that is the basic pay + commission for sales.

[Rickster]

Generally sales roles have very low pay + transport allowances. The lucrative part is in the commission.

 

The important thing is that you must like what you are going to do in that particular industry. That is when you will have energy to work hard and hit targets & of course, earn a decent income.

[Vooth]

Yup agreed, for sales-related, remuneration should be based on hard work and effort, so the sky's the limit.

[Tedlhw]

  On 12/28/2009 at 8:14 AM, Sorrow said:

Hi,

 

as above, any bros/sis in the banking sector can kindly advise on the asking salary for this position? Zero experience in corporate accounts sales but have close to 4-5 years of experience managing ppl and being a person-in-charge of a certain field in my department.

 

Think the postion you are looking at is Corporate Banking Relationship Manager?

Zero sales experience means start at bottom.

Doesn't matter what you did before.

In fact you would be lucky to get the job i think.

 

It also depends on servicing SME or MNC, but if entry level, most likely SME banking.

 

2.8K to 3.5K in basic pay -(entry level for SME Banking)

 

Senior Corporate Bankers (AVP and above) pull 100K top 120K in basic i think.

 

[Throttle2]

  On 12/29/2009 at 3:33 AM, Tedlhw said:

Think the postion you are looking at is Corporate Banking Relationship Manager?

Zero sales experience means start at bottom.

Doesn't matter what you did before.

In fact you would be lucky to get the job i think.

 

It also depends on servicing SME or MNC, but if entry level, most likely SME banking.

 

2.8K to 3.5K in basic pay -(entry level for SME Banking)

 

Senior Corporate Bankers (AVP and above) pull 100K top 120K in basic i think.

 

 

Teddy, you with Credit Suisse PB ?

[Sorrow]

  On 12/28/2009 at 2:27 PM, Rollagt said:

Can U share with us roughly the job scope ? since U had indicated sales I guess U will be drawing a basic and the rest is commission based ?

 

does it mean if a corporate entity opens an account U get a cut ?

 

Hiz rollagt, have went for 1st interview today like what of the bros mentioned here today, its corporate banking. salary wise is basic + coms, didn't ask for the exact breakdown as this is my 1st interview only

[Sorrow]

  On 12/28/2009 at 2:50 PM, Jeronlee said:

every co. usually have a salary range based on corporate gradings, experience etc. for discussion sake, let's assume the range is $3k-5k for this particular position. if your current pay is $3k, most co. would not pay you anything more than 30% of your current pay hence it's unlikely that the offer would be higher than 4k

 

the thing about sales position compared to the rest is that basic pay is just one of the components that make up your annual pay. below are 2 scenarios explaining why basic is not everything, at least for a sales position.

 

job 1:

basic pay: $4.2k

transport allowance: nil, claim by mileage if driving or taxi receipt, if not.

basic-to-commission structure: 70/30 i.e. 70% basic and 30% from commission

projected annual salary assume meet target: $4.2k x 12 (basic) + $1.8k x 12 (commission) = $72k per annum

 

job 2:

basic pay: $3.5k

transport allowance:$1k

basic-to-commission structure: 50/50 i.e. 50% basic and 50% from commission

projected annual salary assume meet target: $3.5k x 12 (basic) + $3.5k x 12 (commission) + 12k (transport) = $96k per annum

 

on the surface, job 1 appears to be the better offer if you just looked at the basic pay. but overall, job 2 actually allows you to make $24k more yearly.

 

hope this helps in your negotiation with your prospective employer.

 

hiz Jeronlee, thanks for the info will bear this in mind ya

[Sorrow]

  On 12/29/2009 at 3:33 AM, Tedlhw said:

Think the postion you are looking at is Corporate Banking Relationship Manager?

Zero sales experience means start at bottom.

Doesn't matter what you did before.

In fact you would be lucky to get the job i think.

 

It also depends on servicing SME or MNC, but if entry level, most likely SME banking.

 

2.8K to 3.5K in basic pay -(entry level for SME Banking)

 

Senior Corporate Bankers (AVP and above) pull 100K top 120K in basic i think.

 

hi Ted, i guess what u say is true...coz i'm the only one with a degree on-going to apply for that post while those they are going to interview later on are all grads [bigcry]