TC of a PM job at AMEX?

Chase / Product ptgi36
Aug 13 23 Comments

Can anyone at AMEX weigh in on the TC for the following opening:

Sr. Mgr-Product Management

Recruiter seems confident I will receive an offer and I want to make sure theyre not low balling me hard. As previously stated, he claimed $120k base is as high as Senior Manager can possibly go, and 12% bonus is also the maximum band. It doesnt sound right.

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TOP 23 Comments
  • Samsung statarb
    120K in NYC is entry level salary two decades ago. Unless you want to sleep in the streets, ask them to take a hike.
    Aug 13 3
    • Chase / Product ptgi36
      OP
      There’s a lot wrong with this statement.
      Aug 13
    • American Express sarcastic_
      120k is not entry level in NYC. I might not be senior level, but no proper entry level job is paying 6 figures, even in NYC. And you can still live plenty comfortable off 120k in NYC. If you pick up a roommate or two you could even afford to stay in Manhatten. Let's not speak in hyperbole.
      Aug 13
    • American Express / Strategy newbie19
      @statarb, what are you smoking? A frd of mine just left Samsung and she was barely making that much post mba
      Aug 13
  • New / Product
    WcBB32

    New Product

    PRE
    BNP Paribas
    WcBB32more
    Hmm Amex seems to be paying below NYC average then... I am in fintech (startup, 3 yoe) and most recruiters/HRs gave me the impression that asking for 140k as the expected base is reasonable.
    Aug 26 0
  • American Express / Strategy newbie19
    They definitely stick to their base and it is not a low ball by any means. At amex, risk and analytics gets paid the highest, product management is akin to brand management not necessarily what you see at tech companies. You are not necessarily gathering requirements and designing features and customer research, it is more so managing the product in different channels. As for the bonus, 12% is your target and you will get a multiplier based on company
    Performance and then individual performance, so for example, if amex kills it your 12% will become 18% or even higher and then your individual, if you kill it which is hard to do, you could get upto 30% but the norm would be 15-22%. Hope that helps!
    Aug 13 0
  • American Express / Ops
    m3angelat0

    American Express Ops

    PRE
    JPMorgan Chase & Co.
    m3angelat0more
    $120K is definately not the ceiling. The max is around $140K. However, each BU has their own standards based on what others in same band level are making so it's possible they've capped at $120K here (else they would have to raise everyone else's base to be competitive). It's a solid number for this level at the company, but you can try to negotiate for more and see if they will budge. Worst case they say no.

    12% is not maximum bad. It's based on performance. 12% should be more or less your average. Practically guaranteed Y1.
    Aug 13 0
  • American Express D.BCooper
    My understanding is 120k is max for Phx. I got more due to skillset but required VP signoff.

    Nyc would have to be 125 to 140 max.

    The bonus is spot on. If you show up and have a pulse, you will get 16 to 20% the bonus alone pays my rent in Phoenix and some bills. Rest is gravy.
    Aug 14 3
    • American Express / Strategy newbie19
      Unfortunately not, I am on the higher end of that base but it seems like the they stick to 115-120 for senior managers but yes it must be 140k as the max for nyc but I bet very few people are at the max and it is reserved for people who stay senior managers for a long time. I doubt anyone starts at 140
      Aug 14
    • American Express / Strategy newbie19
      Again this is all business side no idea about tech
      Aug 14
    • American Express D.BCooper
      Yes business side here too.
      Aug 14
  • BYTON cJKu57
    I am curious as well. At first impression seems to be low balling quite a bit. But I have no frame of reference as I don't know PM salaries
    Aug 13 2
    • American Express sarcastic_
      How does that seem like low balling if you don't know what the expected salary should be? Lol.
      Aug 13
    • BYTON cJKu57
      Cuz my eyes are blinded by swe TC. More like swe bias
      Aug 13
  • American Express / Eng XcdH56
    I'm getting 100k base a year out of school in LCOL Florida... idk how NYC would not be 120k
    Aug 13 1
    • American Express / Eng XcdH56
      Woops meant to reply to Samsung thread
      Aug 13
  • Expedia Group Ronaldo8
    I would laugh and hang up, especially for NYC. But then again, what does a PM for a credit card company even do? 🤔
    Aug 13 1
    • Chase / Product ptgi36
      OP
      Off the top of my head I would theorize things like adding territories the card can be used in, redesigning the onboarding process, evaluating materials to make the cards to save costs, launching new card benefits, launching new card member services portals, etc. Typical investment product management stuff.
      Aug 13
  • Workday / Product tdf
    Location ?
    Aug 13 1
    • Chase / Product ptgi36
      OP
      NYC
      Aug 13
  • Chase
    ptgi36

    Chase

    PRE
    Neuberger Berman
    ptgi36more
    OP
    Yea, financial institutions just pay product managers less than tech companies. Which Fintech startup are you at?
    Aug 26 0
  • American Express / Strategy newbie19
    Ugh lol why does amex pay so low! Not for Phoenix but for nyc
    Aug 14 0
  • Union Bank / Project wwyeezydo
    That bonus seems wrong to me. I left AMEX almost 2 years ago as a Project Manager and my bonuses were more in the 15% - 30% range. I think it’s odd that they are providing a percentage as bonus payout of a given year there depends on company performance, business unit performance, and personal performance. The base doesn’t surprise me bc I found that AMEX paid slightly under market.
    Aug 13 0