Decent IFSC jobs paying 100k + 20% bonus

Jobs OXO · 05-04-2017 5:24pm #1

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

amcalester · 05-04-2017 5:28pm

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.

Bubbaclaus · 05-04-2017 5:29pm

Apply when they become available?

Jobs OXO · 05-04-2017 5:48pm

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.

Kirk Van Houten · 05-04-2017 5:54pm

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.

D0NNELLY · 05-04-2017 5:56pm

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

Kirk Van Houten · 05-04-2017 6:01pm

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.

Jobs OXO · 05-04-2017 6:24pm

D0NNELLY wrote: »

With that background, you'd laugh at 100k

How much do you think you could get?

myshirt · 05-04-2017 6:29pm

€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.

doc22 · 05-04-2017 6:30pm

ten years fund accounting does not equal 100k

Kev1001 · 05-04-2017 6:30pm

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.

Jobs OXO · 05-04-2017 6:38pm

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

Pawwed Rig · 05-04-2017 6:41pm

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.

Arcade_Tryer · 05-04-2017 6:47pm

myshirt wrote: »

â‚¬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.

mariaalice · 05-04-2017 7:39pm

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.

05-04-2017 7:44pm

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.

mariaalice · 05-04-2017 7:50pm

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.

Pterosaur · 05-04-2017 8:47pm

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

Grassey · 05-04-2017 8:57pm

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...

GhostyMcGhost · 05-04-2017 9:00pm

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

Stheno · 05-04-2017 9:16pm

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.

05-04-2017 9:56pm

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.

ongarboy · 05-04-2017 10:02pm

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.

Etc · 05-04-2017 10:13pm

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.

Jobs OXO · 05-04-2017 10:37pm

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?

Pawwed Rig · 05-04-2017 10:52pm

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

traveller0101 · 05-04-2017 11:49pm

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

Hollister11 · 06-04-2017 12:08am

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.

bobbysands81 · 06-04-2017 12:12am

myshirt wrote: »

â‚¬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.

Jobs OXO · 06-04-2017 12:13am

bobbysands81 wrote: »

Ahhhhh ignorance, it's hard to beat.

What do you mean?

callaway92 · 06-04-2017 12:56pm

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.

draiochtanois · 06-04-2017 1:20pm

This post has been deleted.

Pelicannon · 06-04-2017 1:22pm

Meh, become a developer.

draiochtanois · 06-04-2017 1:24pm

This post has been deleted.

Pelicannon · 06-04-2017 1:38pm

draiochtanois wrote: »

Developing is a hamster wheel. Business Analyst or PM is a much more relaxed route.

Try hiring a developer with 10 years of solid experience for 100K.

"Developer" in the financial industry is very different than developer in an industry that is making some level of impact. You are correct that in financial companies it often is a hamster wheel where developers report to people that have no clue about development or software. This generally catches up with companies sooner or later though.

Pelicannon · 06-04-2017 1:43pm

traveller0101 wrote: »

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

You can easily make this in IT straight from college with the right company, if you are good.

Hollister11 · 06-04-2017 1:46pm

Pelicannon wrote: »

You can easily make this in IT straight from college with the right company, if you are good.

Not in Ireland.

Pelicannon · 06-04-2017 1:46pm

Hollister11 wrote: »

Not in Ireland.

okay :-)

dazberry · 06-04-2017 2:37pm

Pelicannon wrote: »

Try hiring a developer with 10 years of solid experience for 100K.

This whole thing has been done to death before Pelicannon over on the software development forum - for the rest of us mortals, if you want to make that money you do it contracting, in perm positions the vast majority won't because the salaried market rates tops out at something like 65k until you look at team lead or principle dev roles etc. So on the contrary I think it would be easy to hire a developer with 10+ years for 100k, getting the right skillset of course is another issue.

D.

somesoldiers · 06-04-2017 2:42pm

I am at VP level in IFSC fund admin company, looks like I'm going to have to have a chat with HR

Pelicannon · 06-04-2017 2:47pm

dazberry wrote: »

This whole thing has been done to death before Pelicannon over on the software development forum - for the rest of us mortals, if you want to make that money you do it contracting, in perm positions the vast majority won't because the salaried market rates tops out at something like 65k until you look at team lead or principle dev roles etc. So on the contrary I think it would be easy to hire a developer with 10+ years for 100k, getting the right skillset of course is another issue.

D.

65K is below market rate for a developer of any level.

Jobs OXO · 06-04-2017 2:55pm

somesoldiers wrote: »

I am at VP level in IFSC fund admin company, looks like I'm going to have to have a chat with HR

What lids are you on mate ?

Dial Hard · 06-04-2017 2:59pm

Jobs OXO wrote:

What lids are you on mate ?

What does it matter, unless you are in any way qualified to do this kind of work, which isn't exactly the vibe I'm getting?

callaway92 · 06-04-2017 3:03pm

somesoldiers wrote: »

I am at VP level in IFSC fund admin company, looks like I'm going to have to have a chat with HR

Fund Admin company <<<<<Asset Management though, to be fair.

m5ex9oqjawdg2i · 06-04-2017 3:03pm

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

Pelicannon wrote: »

65K is below market rate for a developer of any level.

Not in Ireland.

65K as a junior developer? LOL!!!

Hollister11 · 06-04-2017 3:06pm

For anyone interested in developer salary.

http://touch.boards.ie/thread/2057709452/1/#post102704973

mloc123 · 06-04-2017 3:08pm

Pelicannon wrote: »

65K is below market rate for a developer of any level.

bit extreme... very few grad developers will walk into a 65k role out of college. As somebody else mentioned this was done to death in another thread on here. But yes, senior devs should be well able to make 100k within 10yrs.

Pelicannon · 06-04-2017 3:13pm

Benton Itchy Voter wrote: »

Not in Ireland.

65K as a junior developer? LOL!!!

Perhaps at a financial company / non tech company.

Tiddlypeeps · 06-04-2017 3:14pm

Pelicannon wrote: »

65K is below market rate for a developer of any level.

Care to maybe site some sources for that? Payscale puts the average at 38,500, and that is average, not entry level. That's just one source tho, so they could be off, but to be off by that degree would be surprising.

I agree that a savvy developer can easily net more than that, but it's pretty tough to crack the 50k mark straight in the door without moving into a role with at least some leadership responsibilities.

somesoldiers · 06-04-2017 3:16pm

Jobs OXO wrote: »

What lids are you on mate ?

90K, including bonus

Pelicannon · 06-04-2017 3:18pm

Hollister11 wrote: »

For anyone interested in developer salary.

http://touch.boards.ie/thread/2057709452/1/#post102704973

That's misleading though - and probably accounts for someone who wants an easy life implementing fixes for an enterprise code base run by Monkeys. Find me a developer that accepted 65K in FB, Airbnb or any other tech company within a short distance of IFSC.

But yes, point taken - its been done to death for sure. I just thought it was an interesting point as the Op seemed to only really be interested in the money side.

The other roles mentioned certainly sound like they have their challenges and seem to deserve higher pay - thats what confuses me. These roles also seem to rely on the success of a large company rather than aptitude, ability and results delivered. But I wouldn't know.

Decent IFSC jobs paying 100k + 20% bonus

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