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I got a confirmation for tech role at Citi market. (I don't know difference between bank and Market, this is what one of the interviewers mentioned) I am in compensation negotiation phase. The recruiter is suggesting a comp of $175k and TC of $220k. He initially started conversation with offering AVP role and $150k for base. I said no for AVP role and he changed gears to VP and mentioned comp. The recruiter wants me to give a number. Can you help with these questions? 1. What should be the ideal base and TC? 2. What constitutes the variable component (RSU/Bonus etc)? How much of it will I actually end up getting given an average performance of self and company? YOE: 13 as software developer Current TC: 150ish as a consultant. Location: NYC #citi #techcareer #citibank #citiustech
Is this a VP role as an individual contributor or with direct reports? (Asking because banking seems to give VP roles to devs)
Not sure where they're getting that extra 50k from. Bonus targets are very low, AVP level is around 3-6%, VP will be slightly higher, and don't think they usually give out RSUs to most associates. I'd be very wary counting on anything other than base.
What percent for VP is average ?
I'd guess 8-10% is probably the average. There was a graphic floating around in some older posts with the targets by level.
Yea for a Vp role you are looking at 144k max on base
New base for tech VP has moved up. Most teams give out bonus in 10k range. Base is almost at par with range.
The Base looks pretty good for a VP role. Ask him what else is there apart from bonus as there is 45K difference between base and TC. Citi does not offer equity at VP level. Bonus on markets side though is definetely way higher than consumer. So I won’t be surprised if 45k is the max range for bonus for VP on the markets side.
The bonus is non existent . So don't go by what he says as total. Whatever would be your total tc expectations , ask that for base.
Is $230k too much for base? Last year I had a verbal offer from Morgan Stanley for a base of $200k. This year companies are offering bigger compensation too.
$230K base for a VP is too much
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Oh wow I don’t know that Citi can pay that much for a VP. I interviewed before for a VP in product and they told me base ~$120k lol