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#1 - You Are Just An Employee

When you work for a bank, you cannot control what happens to you

While you must follow the rules of the organisation, you are just a number.

Corporate restructuring will affect you. Be it change in targets, commission structure, or even the shifting of clients. In fact, they aren't your clients anyway.

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#2 - Have To Serve Both Needs of The Bank and Clients

Balanced Scorecard is a good thing on paper, not so nice in real life.

The reality is, it is almost impossible to hit a perfect balance. You either need to know ALL your clients really well, or you can expect to go for retooling at 7am. If you are a nice person...

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#3 - You Start From Zero Every Month All Year

Salary is only an illusion. You are really just paying yourself.

As you climb the ladders of success, your KPI climbs with you. You don't get a break, unless you take 2 weeks of leave, and your targets *might* be pro-rated. Otherwise, you better start running when the 1st of the month rolls around!

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#4 - That Fancy Lounge Costs Money

Guess who pays for all that abused facilities...

Realistically, a bank has lots of bills to pay. There's branding, advertisements, consumer facilities, and all the other people that's serving and not selling to the clients. Guess who gets lesser share of the money?

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#5 - Products Are Limited

Savings Plans, Unit Trusts, Trading Products. Rinse &  Repeat

Depending on which stage you are at, there's really not many products you have on hand. In fact, you might be recommending the exact same unit trust to every-single-client. Ditto for savings plan and currency pairs.

Is Banking Really The BEST CAREER To Be In?

5 Things You Need To Know When Deciding Your Career Progression in Financial Sales

Learn about the 6 Financial Advisory Myths

and Why You Need to Take a Serious Look at Your Career

So you spent a couple of years in Banking...

Ever since those movies about bankers came out, financial sales has been one of the hottest jobs in Singapore.

From Gordon Gecko, to The Wolf of Wall Street, to Boiler Room, and even Margin Call..

It's no wonder that everybody portrays that bankers lead a glamourous and high energy lifestyle.

But you and I, we know better.

The life of a personal banker, wealth banker, and even the priority banker is one that's filled with routine. 

Starting the journey with promoting savings plans at the branches to eventually tele-marketing for investment products, we all move up the curve to wealth banking where you have recurring products such as dual currency, and eventually, the epitome of structured notes and high netwoth funds.

It's not an easy journey, but here's 5 things you need to think about before you plan your next 10 years...