I received an VP (603) Software engineering offer for NY office. Base is 210k and bonus is 80k for 1st year. Is the target for 2nd year same as the 1st year target or significantly lower. This is for CCB LOB. Base - 210k 1st year bonus: 80k #jpmorganchase #jpmorgan
Back when I worked at another large IB, everyone was VP lol. Lowest I known was AVP we picked on that poor guy.
Isn't the 80k performance based? and company performance...it's not definite i believe
First year bonus is almost guaranteed. I was wondering if anyone knew how the target is decided for 2nd year onwards. The actual bonus from 2nd year depends on multiple factors, but what I want to know is given good ratings is it similar to the 1st year?
it's same as first year, based on ratings, team budget allocation, company performance
I was a VP at JP for a while. The only time.my bonus ever went down was one year where my skip was trying to kill the app my team owned and fucked our whole team with bad ratings. By the following year, we'd been reorged and my new mgmt bumped my bonus back up. Every other year it went up. Sometimes just a little (1 or 2k) other times a bunch.
And did you find it an issue to switch from JPMC to tech companies? Did they try to downlevel you ?
What was your highest bonus at JPMC?
Lol lol you ain't going to get 80k again my friend especially at CCB, but first year is guaranteed
What did you get for your second year then?
YOE?
The first year bonus is very confusing, which is not a good hiring strategy for the firm. I believe many candidates thought it is target bonus for every year. If not, why not saying it is sign-on bonus instead? Many good employee will eventually leave the firm if they see significant cut of bonus in the second year. It is a loss of the firm to hire people to get familiar with the tech stack for the first year. Asked several colleagues, they got same amount in the second year as well. Doubt those saying significant cut in the second year. Do you have your bonus written in your contract? What do you get for the first and second year? And your ratings?
That’s incredibly low for a VP. Generally VP lead large teams of 100s of people. The comp you specified is more like a junior dev comp in an average organization.
This is for software engineering VP role at Jpmorgan. VP at JPMORGAN is similar to senior/staff roles at tech
Banking titles are weird. VP is basically “manager” or “lead” level.