I'm hearing of offers in the range of $375,000 TC for VP in Software Engineering in NY. This is almost 75% higher than the normal range. Any other high earners here or is this a fluke? #JPMC
It's fake number. Only MDs in JPMC get 350k plus . VPs max 220 in NYC.
Not true. I was a consultant reporting to a vp and I made a shitload more than 220. VP has the widest band of them all. 150-1m+ TC
TKPA62 - I thought so too, have been around in banking and never heard these numbers thrown around before. But I think banks are feeling the heat from tech now.
Existing employees VP salary is between 140k to 170k
They offered me 400k. 6 YOE
What title was this for ? And engineering?
VP, eng, nyc
Go for it. What's your specialty. Blockchain expert or ML engineer ?
I wasn't the one offered, I never even interviewed at JPMC cos I very well knew the salary bands
400k will not be for VP for sure . You will get ED or MD role
what's the average VP, Software egg TC at jpmc ?
It's doubtful as that's how much an ED makes, highest I saw at JP as VP in tech was about 270k total for NYC. However most VP's at JP NYC makes like 180k to 200k, some VP's made as low as 155k in NYC. A lot of people in JP tech just wants the prestige but don't really have real skills. So there's a lot of VP's in name only but gets paid less than senior associates. 300k+ offers at Goldman is standard offer for VP's in their revenue generating tech teams like Marcus.
RE: VP's at JP makes like 180kish Yes and I know a bunch of them and hence my surprize. btw, Goldman VPs have firmly crossed over into $400k+ TC this year
VP at Goldman covers the ED position as well so if you're more senior then sure 400k+. I am talking VP like how the other banks have VP and ED's seperated so the lower VP position in Goldman. The offers my friends got were all under 400k for a fresh VP (around 5+ yoe). These are direct tech revenue generating divisions. The rest of Goldman's non senior VP are around 220k. Goldman pays tech the best in the banking world though. Your best bet is still just getting into a real tech firm. Goldman's revenue generating tech teams like Marcus is pretty hard on interviews unless you have connections. So might as well pass tech interviews for more money.
Another thing to consider is that if you can get a 400k offer at a bank then you might as well join a real tech firm for more money and benefits. More money because JP is a no raise type of place for tech. Last year there was a mandate that no JP tech VP's get a raise for 2021 except few exceptions like newly promoted VP's. I have wife and kids and benefits like not paying anything for health insurance adds up. At a bank it was like 1k taken away per monthly pay and I had to pay for a bunch of random stuff per doctor visit. Tech firms I don't pay that 1k per month and 90% of things have no pay required.
JPMorgan hikes some software engineering salaries to $300k https://www.efinancialcareers.com/news/2021/12/software-engineer-pay-banks
It all depends on CIOs and CTOs of each group on how they want to recruit and retain talent. I have seen some groups continuously lose talent and CTOs have not taken any action
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I would have thought so too if I didn't hear this first hand