VP at JPM for 8 years. Current total comp $150k. Total years of experience 20. Levels at JPM goes , VP -->ED--->MD Got a Sr TPM(L6) offer from Amazon. $360k total comp 1st year and 4 year average TC $350k. Went to my MD @ JP Morgan and told her I have an external offer. She did not say we can't match it and is taking it back to see what she can do. I politely said make me an ED and match the offer and I will stay. What do you suggest, thoughts etc?
If that’s possible, congratulations!
To be honest not sure. Will find out soon
A lot of JP Morgan ppl coming to amazon
Yes because JPM exploits it's people and doesn't pay up
You will be very disappointed if you think amazon doesn’t exploit
There is no reason to stay at this time
Just curious why?
Because of low compensation engineers have and forced return to office among other things. But if you can make it to ED with Amazon offer match- then you don’t need to worry about any of the above
Wtf? It seems extremely unlikely they will more than double your TC
I think so too but hey she did not say no
That’s only to get details from you
How are you a VP for 8 years and making $150k only? Are you in LCOL? Congrats on your offer though.
Not just that I have 20+ years of total experience. Classic case of how Corporate America exploits it's employees until they themselves are put on notice. Exactly the reason why i started looking to show them my worth and value
Damn. Probably best to leave and take your Amazon offer.
Congrats on the offer. Would be interested to hear what it turns out :)
You being a VP and getting an L6 Offer at Amazon is the most clear cut evidence of the obscene title inflation in banking industry. My friend with and undergrad in pol sci is a "VP" at a major bank and doesn't even have a team, makes $135 with minimal bonus. I once had someone on my team with 3 years work experience who was a VP at a mid size bank. Sorry I just think it's ridiculous. To answer your Q, leave JPM and go to Amazon. At least you'll get a pay bump
VP title in Investment Bank is not the same as the tech. If you are descent, you get promoted to fresh grad(analyst) to associate in 2 to 3 years. Then another 3/4 years - you can get title VP. The total compensation is very wide - VP can make above 300K. The process of ED promotion at JPM is very long and hard process. So not sure they can just give ED title. Money is easy as long as you have budget and a willing dept head.
Ok
In your position with 8 years at current co, you should consider switching for the sake of a new perspective, unless you need the wlb right now. Employers who match comp based on a new offer should not get any respect. They only get boomerangs. In fact, if they match, you should ask Amazon for more and Amazon will, because it seems this is their initial offer.
Not their initial offer. I already have signed the Amazon offer so not sure can negotiate further. But hey if JPM matches , and Amazon wants to go up , I wouldn't complain
How do you plan to reject Amazon after signing the offer?
@xSabe.. thanks but I have been in financial services industry for 20+ years and as I said at JPM 8 years so trust me know how this whole thing works and ED promotion process at JPM too. One thing I have come tot learn , never say never. If they want to, they can promote me to ED right away especially given my experience
They can match or get close enough to make you reconsider, but they won’t get you ED out of band. Best you can do from your side is to make sure you are up for ED this year.
That is my question as well. Can they really promote you out cycle?
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How much ED makes?
I guess will find out but in $350k range