JPMorgan Chase Offer - VP
Just got an offer for VP Front End. 190k base, 90 annual bonus. NYC. 8 YOE. Is this a fair offer? Blind tax: current 210 TC Levels.fyi does not seem accurate at all. Thanks guys. #engineering #software #swe
Levels.fyi
Location?
NYC
Why’s the title so weird at banks? why would they call engineers as VPs? Its confusing
Inflated titles to make people feel better about getting paid less
I know many people got 190k base recently, that’s default base, don’t count on the 90k bonus, you are almost guaranteed won’t get it year after year, your TC is 190, let us know if you can get above 200 base
I disagree the bonus should be considered as 0. Worked here for 5 years and bonus always increased. A decrease in year over year total comp is not the norm.
you got 90k bonus? highly unlikely I assume this is in CIB
JPM gives sneaky bonus promises for new hires. You'll get the money promised on the first year (guaranteed bonus), and that comes to you manager bonus pull increase. After the first year your bonus comes from the team's pool, you'll get 5-20% of your base if you are an individual contributor in technology in NY area (because all individual contributors are in this range). I think that's a tactic to save money - they promise more money and naturally people expect TC to stay in the range, but it does not. I have had new hires getting disappointed by this before. Bottom line - no it is not a good offer because the base is low, and that's the end of VP range, i.e. you opportunity to grow TC is gone. For many positions HR allows to go for ED (604) title now, that would give you a better base range and prospects for growing TC. You should ask.
so to get 90k bonus my base needs to be 450 minimum? I thought 190 base is 50 or 75 percentile not the absolute max
Yes, the base has to be higher. I say one needs to be on ED (604) level to have a chance for 90k bonus in technology. JPM does not pay all cash for EDs for quite some time now, it's always a mix cash/shares with vesting period attached, so probably not all cash. 190 base is the end of VP range in NY area, not 75 percentile. You don't want to know other locations - i promise you would be disappointed. That's why I wrote the offer is bad. The bonus is in reality a sign on bonus, not a regular, even though JPM HR normally would not tell, just say something vague like 'performance related'.
That's a pretty good offer by our standards.
Thank you for the response. Are you also a SWE in NYC?
Yes, I am. I've had good ratings and I'm a bit behind your offer total by 15-20%. Similar exp
Ran into the same issue for a PM roll
Hey there, I’ve recently accepted a product role at JPMC. Can you pls share your experience with recruiting and compensation if you don’t mind?
Does levels.fyi not have this data?
Why do the work when other people on blind will do it for you
The data on levels.fyi seem really off. Says average is like 186 for VP. Levels.fyi is also off for my current company, says 150 but I’m currently 210TC. Not sure I trust levels.fyi for anything other than big tech