# Salary- Investment banking



## ibanker

Hi,

I am an investment banker currently working in India. I may get an offer from a Big4 for a Manager role in KL.

Would request the forum members to kindly let me know the following:

1) Average salary to negotiate in a Big 4 at a level of Manager ( equivalent of an AVP)

2) Average salary of investment banking professionals in KL ( general)

Looking for your kind assistance.

regards


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## ibanker

*Package offer- KL*

Hi,

1) I have got an offer of total 16,000 MYR ( including housing)- no car allowance....wanted to understand from the forum members that is the salry good for a middle management position in Corporate Finance in KL or I am being valued less? I have 6 years exp in M&A and investment banking.

I am married- my wife is a home maker and child is 3 months old- would prefer a 2 bedroom condo in Mt.Kiara and will require a car to travel. 

2) Child education is atleast 2-3 years away but should I negotiate any education allowance with them?

3) I am being offered a 2 year contract role as an expat and after that be considered for a permanent role- is it a norm for expats ( contract)?- please suggest

4) How much does it cost to hire a car for a year? 


Please reply urgently as I need to have some figures to negotiate next week.

regards


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## roystevenung

Since accomodation had been taken care off, the next big thing would be travelling, food, health insurance.

I am not sure if renting a car for the whole year is cheaper than actually buying one. But cars here are heavily taxed though petrol is cheap. Rm 1.90 for Ron95 or Rm2.80 for Ron97.

Rm16k at KL, you may have a saving of say RM8-10k per month.


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## ibanker

roystevenung said:


> Since accomodation had been taken care off, the next big thing would be travelling, food, health insurance.
> 
> I am not sure if renting a car for the whole year is cheaper than actually buying one. But cars here are heavily taxed though petrol is cheap. Rm 1.90 for Ron95 or Rm2.80 for Ron97.
> 
> Rm16k at KL, you may have a saving of say RM8-10k per month.



Dear Roystevenung

Thanks for your reply- My broad salary breakup is like this

basic- 12,000 MYR
Housing- 4,000 MYR

Is budgeting 4,000 MYR for Mt Kiara ok?- I am looking for 2 bhk furnished apartment?


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## jongoh

*Hii*

I think for your request of 2 bedroom around Mont Kiara-easily you can get below 3K that would enable you a savings of 1K from your budgeted 4K


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## ibanker

jongoh said:


> I think for your request of 2 bedroom around Mont Kiara-easily you can get below 3K that would enable you a savings of 1K from your budgeted 4K


Dear Jongoh,

Thanks for your reply. On general research I find getting a 2 bed condo fully furnished in Mt Kiara could be above 4k/month. 

1) Do agents/ owners advertise high and then ready to negotiate?

2) Is it possible to negoatite a lower rent/month for a higher security deposit in KL?

Please assist

regards


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## jongoh

you can actually try searching via olx.com i found several units there under 3k and the contact number is there ; i believe you can call them directly or sms


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## ibanker

jongoh said:


> you can actually try searching via olx.com i found several units there under 3k and the contact number is there ; i believe you can call them directly or sms


Thank jongoh, one more query:

1) What is the cost to hire a part time maid at Mt Kiara/ other places in KL?

I will require a maid for 2-3 hrs daily for cleaning house and washing dishes

regards
rohit


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## ibanker

Secondly, what would be the best way to travel KL Sentral from Mt kiara.?....my office is at KL Sentral....

I wont have car initially..would prefer the LRT......so is it smartness to stay to Mt Kiara or some other place to reach KL Sentral within half an hr ( door to door)


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## ibanker

Guys

really need your assistance in one basic query

Maid services are very costly in KL? If I compare with India...normal cleaning+ washing dishes can be done in MYR50-70 per month ( and in the most costly city of Mumbai).....I just can't imagine paying +2000 MYR to maids for a month ( 30 days* 3hrs per day*avg 25 MYR).....please correct me if I am wrong.....it totally defies purchase parity concept......I would be glad if someone corrects my calculation.........I am moving to KL in some months and this calculation has rocked my budgeting.......please assist

regards
rohit


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## roystevenung

Rm50-Rm70 per day for 2-3 hours, yes, there are agencies offering maid service at this rate. But definitely not Rm50-Rm70 per month.

The cost of bringing a maid from indonesia, philipines, thailand, myanmar, vietnam is roughly Rm8k-Rm12k.


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