I made VP last winter in GS but my base is $98,000. Bonus $10k. Location: NY. YOE: 6. Looking to negotiate a better base this coming season so I wanted more info on what new tech VP's in Risk make (base , bonus etc)
It’s back office. And yes I am aware it’s low, just looking for what others in a similar position earn so I am informed when I go into end of year review
Yeah, I can’t jump that high. I guess I’m hoping for at least 115 but Fingers crossed
Lol, GS VPs, I earn in INR, and somehow I feel richer than these black suit VPs
Fyi, people no longer dress all formal at GS. That stereotype no longer holds up
I know dude, I was just making fun of their job levels ...
For those confused, Finance levels are different. VP is like 2-3 promotions up from entry level.
NAPAs get 100k. Last year NAPAs got bumped to 110k 😫😫
Shit, NAPA was $75k where I come from. In 2000 it was $45k. The cycle continues.
You are getting absolutely screwed. Base should be 150-250, patc from 250-400. Obviously the top ends are for senior VPs. You will not be able to negotiate your base. You can threaten to leave and IF you are high value your manager can go to bat but HCM decides bases and manager allocates bonus.
I know it’s very low and I’m getting screwed that’s why I’m looking to get more info on what others make before I approach my manager about it. I’m basically at my breaking point, if I don’t get upped to at least 125k base I’ll leave to a different firm
Can’t negotiate without leverage. Get external offers
Assess your value to the HM before threatening
I interviewed at GS last year for swe and they offered me 200k associate TC. I don’t have yoe so was confused, possibly they were trying to match google/amazon and needed to slot me for a higher level. I had applied for the experienced position and some wires seemed to be crossed so it was mostly a system design interview. Luckily I studied for system design bc another interview required it. In any case you are way underpaid. I believe it was 140 base and 60 bonus for the breakdown for 200. I hear VP should be 250-300k+. Not sure how your tc is that low.
Thanks, this is really helpful.
Np! Good luck and let us know how it goes!
You are making less then a 2020 NAPA ( 110K Salary ), at the minimum your salary should be 180k. You've been so behind because you've been consistently ranked Q3-Q4 which has set you far far back behind all your peers. Don't mean to offend, but you should take your ball and go to another company.
Sometimes they promote you so that they don't have to pay you as much. I started in 2014 right out of college, and my base is 137 while I'm still an associate. And I know of 2016 college hires, which are already at 132 as a newly promoted associate. I don't believe you'll have much wiggle room to negotiate anything without an offer elsewhere. I also don't think your direct manager will be able to do much for you in terms of comp, as it will likely need to be the decision of the MD in your space. If your connections are good enough, it's possible to take mobility and get an increase in base, but you'd need someone to fight for you to make that happen. You also have to factor in that they revamped the review system this year and I don't think there's much clarity in how those ratings will affect your comp at the end of the year.
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98k? Sounds low for a VP.
Everyone is a VP in GS...
VP is a common title in finance. I know a couple of guys who have VP title but they are Senior Developers.