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Decent IFSC jobs paying 100k + 20% bonus

  • 05-04-2017 5:24pm
    #1
    Jobs OXO
    Closed Accounts Posts: 887 ✭✭✭


    Heard a mate of my brother is on 100k plus chunky bonus for being a "relationship manager" (with a Vice President title )in one of the US places in the IFSC. Any idea how to get into this area? Seems well paid to say the least


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Comments

  • #2
    amcalester
    Closed Accounts Posts: 4,121 ✭✭✭amcalester


    Jobs OXO wrote: »
    Heard a mate of my brother is on 100k plus chunky bonus for being a "relationship manager" (with a Vice President title )in one of the US places in the IFSC. Any idea how to get into this area? Seems well paid to say the least

    If you have to ask...

    A lot of these guys will have started out in Actuary type roles.


  • #3
    Bubbaclaus
    Registered Users Posts: 4,461 ✭✭✭Bubbaclaus


    Apply when they become available?


  • #4
    Jobs OXO
    Closed Accounts Posts: 887 ✭✭✭Jobs OXO


    amcalester wrote: »
    If you have to ask...

    A lot of these guys will have started out in Actuary type roles.

    Don't think he is that qualified. Seems to be a role that doesn't involve selling with targets either. More so needs to maintain relationships with existing clients. Not sure how may of those type of jobs there are.


  • #5
    Kirk Van Houten
    Registered Users Posts: 780 ✭✭✭Kirk Van Houten


    10 years experience in custody, transfer agency or fund accounting with a broad knowledge of the funds industry sounds about right in terms of what they will be looking for.


  • #6
    D0NNELLY
    Closed Accounts Posts: 1,387 ✭✭✭D0NNELLY


    Kirk Van Houten wrote: »
    10 years experience in custody, transfer agency or fund accounting with a broad knowledge of the funds industry sounds about right in terms of what they will be looking for.

    With that background, you'd laugh at 100k


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  • #7
    Kirk Van Houten
    Registered Users Posts: 780 ✭✭✭Kirk Van Houten


    D0NNELLY wrote:
    With that background, you'd laugh at 100k

    Not that many VPs with less than 10 years experience in the places I've worked.


  • #8
    Jobs OXO
    Closed Accounts Posts: 887 ✭✭✭Jobs OXO


    D0NNELLY wrote: »
    With that background, you'd laugh at 100k

    How much do you think you could get?


  • #9
    myshirt
    Registered Users Posts: 5,245 ✭✭✭myshirt


    €100k is there or thereabouts in the ballpark for VP level.

    Thing with this is you have to keep delivering the goods, because these boys will eat you right up otherwise. Any public servant, and i mean any, wouldn't last a day, and that is no exaggeration.


  • #10
    doc22
    Registered Users Posts: 853 ✭✭✭doc22


    ten years fund accounting does not equal 100k


  • #11
    Kev1001
    Registered Users Posts: 37 ✭Kev1001


    http://www.sigmarrecruitment.com/wp-content/uploads/2017/02/Sigmar-Recruitment-Salary-Guide-2017.pdf

    Page 16 of that salary guide would be a good reference point.
    Gives an idea of what different roles pay. Can try to connect the dots yourself.


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  • #12
    Jobs OXO
    Closed Accounts Posts: 887 ✭✭✭Jobs OXO


    Kev1001 wrote: »
    http://www.sigmarrecruitment.com/wp-content/uploads/2017/02/Sigmar-Recruitment-Salary-Guide-2017.pdf

    Page 16 of that salary guide would be a good reference point.
    Gives an idea of what different roles pay. Can try to connect the dots yourself.

    Decent lids alright


  • #13
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators Posts: 22,292 CMod ✭✭✭✭Pawwed Rig


    These guys will be bringing in alot more money than they are being paid. A good salesman does not have to be that technically good but if he can bring in clients he can demand high salaries.


  • #14
    Arcade_Tryer
    Registered Users Posts: 2,021 ✭✭✭Arcade_Tryer


    myshirt wrote: »
    €100k is there or thereabouts in the ballpark for VP level.

    Thing with this is you have to keep delivering the goods, because these boys will eat you right up otherwise. Any public servant, and i mean any, wouldn't last a day, and that is no exaggeration.
    It kind of is an exaggeration given you probably could not pay someone like Philip Lane enough to work for a mundane IFSC multinational.


  • #15
    mariaalice
    Registered Users Posts: 12,357 ✭✭✭✭mariaalice


    Jobs OXO wrote: »
    Heard a mate of my brother is on 100k plus chunky bonus for being a "relationship manager" (with a Vice President title )in one of the US places in the IFSC. Any idea how to get into this area? Seems well paid to say the least

    You forgot the extremely stressful and long hours bit there are very few people on 100k who are living a stress free existence.


  • #16
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    mariaalice wrote: »
    You forgot the extremely stressful and long hours bit there are very few people on 100k who are living a stress free existence.

    Plenty consultants/contractors in bio pharma on that and more.


  • #17
    mariaalice
    Registered Users Posts: 12,357 ✭✭✭✭mariaalice


    Augeo wrote: »
    Plenty consultants/contractors in bio pharma on that and more.

    Working in a stress free environment?

    There are lots of job's paying that sort of salary.


  • #18
    Pterosaur
    Registered Users Posts: 48 ✭Pterosaur


    mariaalice wrote: »
    Working in a stress free environment?

    There are lots of job's paying that sort of salary.

    Plenty of people earning 20k salaries in stressful jobs. Maybe not so many hours


  • #19
    Grassey
    Registered Users Posts: 2,393 ✭✭✭Grassey


    Augeo wrote:
    Plenty consultants/contractors in bio pharma on that and more.


    External consultant in my place at the moment. 30k a month and he's a flute that can talk the talk so the bosses love him, couldn't deliver himself out of a paper bag.

    Note to self. Get into consulting...


  • #20
    GhostyMcGhost
    Registered Users Posts: 1,349 ✭✭✭GhostyMcGhost


    Grassey wrote: »
    External consultant in my place at the moment. 30k a month and he's a flute that can talk the talk so the bosses love him, couldn't deliver himself out of a paper bag.

    Note to self. Get into consulting...

    360k a year?

    Can't be that bad then or he wouldn't be getting it from anywhere


  • #21
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 51,687 Mod ✭✭✭✭Stheno


    GhostyMcGhost wrote: »
    360k a year?

    Can't be that bad then or he wouldn't be getting it from anywhere

    That's only 1500 a day tbh.

    If he's coming in through one of the big consulting firms, likely he's making less than half that, probably only 100k.

    If he's self employed then he's doing very well.


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  • #22
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    mariaalice wrote: »
    Working in a stress free environment?

    There are lots of job's paying that sort of salary.

    Contracting in pharmacy/bio pharma is quite stress free to be fair.


  • #23
    ongarboy
    Registered Users Posts: 5,201 ✭✭✭ongarboy


    The fact that OP has to ask how does he get such a job means he'll be a long time waiting to get it. Such roles are generally only given to someone who typically has the 10 years plus experience working in and having a broad exposure of numerous facets of the funds industry so that they can knowledgeably and competently cater to the entire range of products, services, requirements and issues a client has. They need that as well as typical personable, target driven, sales oriented attributes that any successful client facing manager would require.

    Bear in mind, a client is never just one individual in such IFSC/fund admin relationship manager roles. The client is usually a large entity that has many funds worth billions in value and the relationship manager represents the fund administration company that services those funds/client and he/she is the go between/liaison for the many 100s or 1000s of queries/requests/demands/projects/complaints annually that could come from several dozen representatives of the client. It is not an easy job to manage such extremely demanding and nearly always critical requirements. The pressure can be immense and the compensation offered is well justified.

    OP calls the job decent in the title but it only is for a certain type of personality who thrives in such an environment. For many others, it would be quite hellish.


  • #24
    Etc
    Registered Users Posts: 537 ✭✭✭Etc


    Augeo wrote: »
    Contracting in pharmacy/bio pharma is quite stress free to be fair.

    Very broad statement, hugely depends on who you are working for and the area.


  • #25
    Jobs OXO
    Closed Accounts Posts: 887 ✭✭✭Jobs OXO


    ongarboy wrote: »
    The fact that OP has to ask how does he get such a job means he'll be a long time waiting to get it. Such roles are generally only given to someone who typically has the 10 years plus experience working in and having a broad exposure of numerous facets of the funds industry so that they can knowledgeably and competently cater to the entire range of products, services, requirements and issues a client has. They need that as well as typical personable, target driven, sales oriented attributes that any successful client facing manager would require.

    Bear in mind, a client is never just one individual in such IFSC/fund admin relationship manager roles. The client is usually a large entity that has many funds worth billions in value and the relationship manager represents the fund administration company that services those funds/client and he/she is the go between/liaison for the many 100s or 1000s of queries/requests/demands/projects/complaints annually that could come from several dozen representatives of the client. It is not an easy job to manage such extremely demanding and nearly always critical requirements. The pressure can be immense and the compensation offered is well justified.

    OP calls the job decent in the title but it only is for a certain type of personality who thrives in such an environment. For many others, it would be quite hellish.

    You sound like you work in the area?


  • #26
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators Posts: 22,292 CMod ✭✭✭✭Pawwed Rig


    I worked in funds for a while. Not the most interesting of sectors and not much of the high end stuff happens in Ireland


  • #27
    traveller0101
    Registered Users Posts: 122 ✭✭traveller0101


    Are people seriously earning that much? Any other industries where 10 years experience nets you 100k+?


  • #28
    Hollister11
    Closed Accounts Posts: 5,482 ✭✭✭Hollister11


    traveller0101 wrote: »
    Are people seriously earning that much? Any other industries where 10 years experience nets you 100k+?

    IT? Project Managers with that experience will easily earn that number.


  • #29
    bobbysands81
    Registered Users Posts: 7,198 ✭✭✭bobbysands81


    myshirt wrote: »
    €100k is there or thereabouts in the ballpark for VP level.

    Thing with this is you have to keep delivering the goods, because these boys will eat you right up otherwise. Any public servant, and i mean any, wouldn't last a day, and that is no exaggeration.

    Ahhhhh ignorance, it's hard to beat.


  • #30
    Jobs OXO
    Closed Accounts Posts: 887 ✭✭✭Jobs OXO


    bobbysands81 wrote: »
    Ahhhhh ignorance, it's hard to beat.

    What do you mean?


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  • #31
    callaway92
    Registered Users Posts: 14,317 ✭✭✭✭callaway92


    10+ years of Client Servicing/Custody gets you to VP/Relationship Manager easily.

    People in my department have been promoted from Rep to Team leader (3 promotions) in 2.5 years.

    Move company then for big bucks. It's a pretty nice route in fairness.

    As someone else mentioned - a client isn't necessarily just a person. It's more than likely an investment bank/very rich person/big business. - and a relation manager generally deals with numerous entities, not just one. It's a stressful job with very very high risk- The money is justified.


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