Can anyone from JPMC explain what this “VP” really means? I’ve heard its like first level manager but idk. Also, any idea on TC expectations? Updated: Levels.fyi has JPMC now. https://www.levels.fyi/salary/JPMorgan-Chase/SE/Vice-President/
VP is like Sr. Level IC, has no relation to managing people or being a “VP” at a company outside of the Financial/Banking industry.
Could I think of this like the highest IC under a Principal?
Under Principal is Staff. VP is a senior. Director sounds like a Staff, and MD is like Principal. There’s director, executive director, managing director, senior managing director, etc above VP
It’s basically senior level , but some of those salaries on level are inaccurate. Senior associates definitely make more than 113k, I was offered 145k base there for a senior associate
Any RSU?
Jpm doesn’t offer Rsu, you just get a bonus at the end of the year which I think would of been 15k. Senior associate is a basically a senior dev though anywhere else.
I worked in JPMC as a VP and I am currently a VP at BoA. A VP CAN be a manager but more often they are individual contributors. They are roughly equivalent to Senior Software Engineers. Also bank bonuses are typically all cash. It is rare to see RSUs given out except to Directors and above
How big are bonuses %-wise of salary?
In my LOB bonuses were a flat rate of 25,000 for VPs. It will vary depending on the LOB the VP is in
At investment banks it's analyst -> associate -> VP -> director -> managing director typically. Depending on the place, they might also have some other ranks like SVP or executive director.
VP at a bank versus at a tech company are two totally different things that interestingly share the same name. For example, at JP Morgan there are VPs everywhere. Most of them aren't even managers at all. They're just engineers/developers with no one reporting to them or have any leadership in their roles. The way it works is that there are two titles next to you at the bank. One is your role (Developer/Engineer/Finance Manager...etc) and a hierarchy title (Associate, VP, MD...etc). You could start as a junior member with Associate title, and in a year or two get a good end of year review (and be a good friend to your boss and tell him a few good jokes) and next hierarchy level you get is a VP. Once done, you go on LinkedIn and add the title "I'm the Amazing Vice President of Technology Research At the Big Morgan Stanley" like all the other thousands are doing now adays lol. And when those in tech companies check your profiles having no clue they get impressed. It makes sense to ask for the TC before the title when joining to get a more accurate representation of what the level is. Or better, don't join as a developer. You'll probably regret it if you're coming from tech companies.
Spot on!
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Check levels.fyi. JPMC is on there now. "VP" in finance is very common. At some banks, 10+% of the staff is "VP".
Last time I checked it was there. Sweet, thanks!