VP at JPMC (pay parity - your views)

Jan 4 10 Comments

Why does JPMC not provide the best salary rise when it comes to retaining talent? They pay huge numbers to incoming VPs (60+ in some cases) from other big banks, but fail to reward talent which is grown within the company.

I have been working in the bank for more than 6 years and have been working in niche technologies and never got bored of work. But looking at the pay parity going around in the market, i'm loosing focus and gearing to look out of opportunities outside just for the sake of raising the pay bar. My TC has been increasing on an average of 10% which is equal to service companies in India.

What do you VPs in JPMC think about this year? Rumours are that there is going to be good hike. Now being a jpmc employee, we know what "good" means on the table. What are your views of this year's "the great resignation" and what are your plans?

YOE: 13
TC: 40 Fixed. Bonus (awaiting like the rest of you)

EDIT:
My speculation is here -
If I get a 20% bonus, my TC will become 48. If i get a 15% hike, my base will move to 46.
Now, how much do you think I can ask outside with the above? Should i mention my TC is 46+8? or 40+8?

#jpmc #payparity

comments

Want to comment? LOG IN or SIGN UP
TOP 10 Comments
  • VMware
    ಏನೇ B-Tree

    Go to company page VMware

    BIO
    Hum hi hum hai. Baki sab paani kam hai.
    ಏನೇ B-Tree
    Change your mindset. For your 13 yoe, you should get > 1Cr in product companies. Get out of these banks which treat tech as secondary citizens.
    Jan 4 3
  • Uber
    Ⓜ️🚆Ⓜ️

    Go to company page Uber

    Ⓜ️🚆Ⓜ️
    Yeah and there will be rumours every every year. I doubt if they are manufactured. You wait based on rumour, then another rumour and then another. Why would a bank want to correct based on top market which are hired by tech companies…
    Jan 4 1
    • Agree with you Uber. I had the same doubt if this is manufactured. Looking at some other banks which have given 20%+ hikes in december (which is not realistic compared to their earlier numbers), i get a sense people at jpmc are prepared for the worst.

      Also, JPMC did a midyear correct for few of the top performers. So the speculation "might", just might hold true, but not 100% sure
      Jan 5
  • This comment was deleted by original commenter.

    • It's peanuts compared to what you got at VMware (Unless you got peanuts there too). It's all dependent on your manager. My average is 10%. Since i moved teams, i got less some years.
      If I was in the comp discussion, i would have had a fair idea of how its going to be like this year. I manage few ppl though.
      Jan 5
  • This is the situation at every other bank. Get out and get paid.
    Jan 4 1
  • JP Morgan claims to be a tech company yet it behaves like a traditional bank. If you want to improve your compensation then switch to some product company.
    Jan 5 0