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Career in Wealth Management


Do you know 50% of Personal Bankers quit in 9 months? That is a startling statistic to begin a career in Wealth Management in banking. Every 5 in 10 who join will quit in 9 months.  And almost 80% leave the industry within 3 years.

In banking, there are more than 7,000 wealth managers and 15,000 investment professionals. There are many more doing important supporting roles to wealth managers. How do you start a wealth management career in banking?

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Starting a career in Wealth Management is exciting but also perplexing to many.  In Singapore, there are 14 retail banks, 47 leading private banks, 10 large insurance companies, 35 leading fund management firm and many stock brokerages & financial advisory firms.

  1. Wealth Management Career
  2. What does it takes to be a Wealth Manager
  3. Apply to Wealth Management Jobs in Banking
  4. More About jobs & prospects
Personal Banker Guide Priority Banker Guide Private Banker Guide

1. Wealth Management Career

Quick Reads

Where do you start?

Financial Advisor, Personal Banker, Priority Banker, Private Banker, Relationship Manager, Investment Advisor, Treasury Advisor, Bancassurance Specialists, Credit Specialist … … and more.

The job titles just about confuse any young graduates and even professionals in the financial industry.  Learn more below:

Quick Guide
  • Industry Overview
  • Retail Banks vs Private Banks
  • Banks vs Non-Banks
  • Advisory vs Non-Advisory
  • Onshore vs Offshore
  • Front Office vs Middle Office
  • Financial Advisors
  • Salary
  • Education
  • Certification
  • Regulation
  • Direct Application
  • Fresh Graduates Application
  • 3rd Party Sites Application
  • Internships
  • Career Advancement

Estimated Starting Salary

  • DBS Bank – SGD 2800
  • OCBC Bank – SGD 2800
  • UOB Bank – SGD 2700
  • Citibank – SGD 3500
  • HSBC Bank – SGD 3200
  • Standard Chartered Bank – SGD 3100
  • ANZ Bank – SGD 2900
  • May Bank – SGD 2600
  • CIMB Bank – SGD 2500
  • RHB Bank – SGD 2400

Not correct?  Send the latest starting salary to us and stand a chance to win $20 Takashimaya Vouchers.


2. Be a Wealth Manager

What is a Wealth Manager?

Almost everyone wants to be the wealth manager. It is the most important role since the wealth manager is the one who manage the relationship and financial portfolio for customers. However, many give up give as soon as they realize the role of a wealth manager is more than just relationship and investments.

Perceived Work of Wealth Managers:
Personal Banker Working Hard
Personal Banker Working Hard
  • Relationship Management
  • Portfolio Management
  • Investment Analysis
Actual Work of Wealth Managers:
  • Client Acquisition
  • Relationship Management
  • Sales & Revenue
  • Client & Portfolio Management
  • Operations & Administration
  • Training and Learning
  • Regulation & Compliance
The Reality

The difference in perceived work & actual work caused many to give up, under-perform or become disgruntled with a career in wealth management.  As a wealth manager, especially in banking, you would undergo many examinations and training to be certified and to be qualified as a financial advisor.  This training can sometimes take 4 weeks to 8 weeks.  So it is indeed wasteful that many advisors go through the training, and quit within a few months.  A study conducted shows 50% of Personal Bankers quit in 9 Months.  Read More

Is there any qualifying criteria to be a Wealth Manager?
  • Academic Qualifications: Minimum “A” Levels or Diploma
  • Minimum Age Requirement: 21 Years Old
  • Regulatory Examinations: CMFAS

For Full Details: Effective 1st February 2014 by Monetary Authority of Singapore

I want to be a Wealth Manager.  Where can I apply?

Retail Banks: Many banks have personal banking associate program for fresh graduates.  Banks in Singapore hire a few hundred new graduates every year.  DBS, OCBC, UOB, Citibank & HSBC hire the largest number of fresh graduates every year for their Personal Banking program.  Apply to the banks directly below.

Private Banks: There are also many Private Banks in Singapore and they take in a few thousand new hires every year in various front office and middle office positions.  To be a Wealth Manager immediately is difficult as you would not have at the skill sets or the portfolio to managed.  Banks such as UBS & Credit Suisse have annual intake for Wealth Management Graduates where they will train fresh graduates into future Wealth Managers by starting either as Assistant Private Bankers or in various front office or middle office positions.

Non-Banks:  Other than the banking industry, financial service providers such as insurance companies & agencies, Independent financial advisory firms, Brokerages and fund management providers also hire many wealth managers.

Things to Consider
  • Retail Banks or Private Banks
  • Banks or Non-Banks
  • Advisory or Non-Advisory
  • Onshore or Offshore
  • Front Office or Middle Office
Newsletter Subscribe Banner November 3 2015

Featured: DBS Treasures


Why DBS Bank?

DBS Bank

As the leading bank in Asia, DBS Consumer Banking Group is in a unique position to help our customers realise their dreams and ambitions. As a market leader in the consumer banking business, DBS has a full spectrum of products and services, including deposits, investments, insurance, mortgages, credit cards and personal loans, to help our customers realise their dreams and aspirations at every life stage. Our financial solutions are not only the best in the business – they were made just right for you.

  • Grow and strengthen the wealth of high net-worth individuals and their families
  • Based at our exclusive Treasures Centres, provide a differentiated suite of financial analysis and advise to meet the investment needs and objectives of this group of sophisticated clients
  • Partner with an experienced team of product specialists, and with support from teams of innovative treasury sales and dedicated administrative staff members, offer expert guidance on customized solutions to customers, and provide them with professional service for all their banking, borrowing and investment needs round-the-clock

Learn More

  • Provide sales and service advisory on treasury products marketed to DBS Treasures
  • Emerging Affluent (EA) clients to help them achieve their financial objectives
  • Responsible for individual sales and business targets
  • Market treasury products such as Currency Linked investments (CLI) and Quoted FX
  • Provide daily market commentaries on treasury products to DBS / POSB EA Relationship Managers and their clients
  • Work closely with fellow Relationship Managers, Business Managers and Sales Support Officers to ensure that all objectives of the team are met
  • Assist in treasury products development by providing feedback on clients’ preferences and needs while contributing ideas on how products can be better packaged and retailed
  • Attend relevant trainings and briefings for continuous skills upgrading

Learn More

  • Work closely with the branch sales and service teams to provide innovative product solutions to address customers’ retirement planning, savings and financial protection needs
  • Manage the branch sales portfolio, promotions and campaigns
  • Strengthen long-term relationships with our customers by providing excellent customer service  

Learn More

  • Work as a business partner to drive sales performance of frontline sales staff to achieve the overall sales targets assigned on investment products
  • Work effectively with branch managers to develop sales strategies and business plans to drive for sales productivity and customer penetration
  • Conduct regular training, coaching and market / product briefing to frontline sales staff
  • Prepare investment research and sales materials for frontline sales staff
  • Provide support and advice to both frontline sales staff and customers through joint /independent sales calls and customer portfolio review 
  • Provide feedback to product development team on any issues in relation to investment products, services and sales processes

Learn More

DBS Treasures

DBS Treasures has the knowledge and capability to help you achieve your investment aspirations. Our products combine world-class financial thinking with regional opportunities to ensure your investment objectives are met with the highest of banking standards.

With unmatched local knowledge and research, an Asia-focused 15-country network, and enduring relationships with customers across borders, we help you achieve your financial goals through a variety of innovative wealth management services.

DBS Treasures wealth management services are yours to enjoy with a minimum in deposits and/or investments of SGD350,000.

Visit: DBS Treasures

DBS . Living, Breathing Asia

DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. We are headquartered in Singapore, with a growing presence in Greater China, Southeast Asia and South Asia. As a bank born and bred in Asia, we are well-positioned as your partner to capture opportunities across the region. We invite you to be part of our journey towards becoming the Asian bank of choice for the new Asia.

Visit: DBS Bank

3. Wealth Management in Banking

Apply Now

Personal Financial Consultant (Consumer Banking)



Apply to OCBC Bank

  • Consumer Banking – Mortgage Specialist Trainee Programme
  • OCBC Securities – Trainee Dealer Programme

Direct Link

Career with UOB Bank

UOB Bank
UOB Bank

Apply to UOB Bank

Career with Citibank


Apply to Citibank

Career with ANZ Bank

ANZ Bank
ANZ Bank

Apply to ANZ Bank

  • Coming Soon

Career with Maybank


Apply to Maybank

Career with RHB Bank

RHB Bank
RHB Bank

Apply to RHB Bank

4. Jobs & Prospects

Getting Ready

Entry Level Jobs: Where you get started

  • Personal Banker
  • Insurance Specialist
  • Loan Specialist
  • Assistant Private Banker
  • Service Relationship Manager

Mid Level Jobs: After a few years of experience

  • Priority Banker
  • Investment Advisor
  • Treasury Advisor
  • Loan Specialist
  • Assistant Private Banker

Senior Level Jobs: After years of hard work

  • Private Banker
  • Investment Advisor
  • Treasury Advisor
  • Portfolio Advisor
  • Management Jobs
  • Specialist Jobs
  • Popular Banks

Popular Jobs

  • Personal Banker
  • Priority Banker
  • Private Banker
  • Investment Advisor
  • Assistant Private Banker

Popular Banks

  • DBS Bank
  • OCBC Bank
  • UOB Bank
  • Citibank
  • HSBC Bank
  • Standard Chartered Bank
  • ANZ Bank
  • CIMB Bank

Popular Private Banks

  • UBS
  • Credit Suisse
  • DBS
  • Bank of Singapore
  • Deutsche Bank
  • BNP Paribas
  • Julius Baer
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Featured Banks

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Standard Chartered Private Bank Thumbnail Logo 150x150
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Career Partner 2015