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I’m already exhausted 🥱
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Idk about GS, but VP is not Senior Manager or Director level at JPM. It's a junior manager. Everyone has a VP title at banks.
1. VP at a bank is junior manager, She should be seeking Director title - dead giveaway total comp should be about 50 percent higher for same title 2. Signing bonus for Director could go from 40-180K. But again, this is not Director.
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Thanks for that. Are there internal delineations that are worth negotiating?
Just speaking for JPM, VP is the equivalent to EM at McK or Project Leader at BCG. I'm not sure about GS.
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Spouse isn’t exiting from consulting. Should have clarified that. They started in professional services but has been a career functional pro for 10+ years. At McK/BCG, they’d be North America Head of Function or a direct report thereof.
At EM equivalent level she would get equity at either firm, I would focus more on the base which should be +$150K. The bonus is tricky though. Total comp depends very drastically on the area so she could start all in at ~$200K
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It’s actually very helpful understanding the levels (ie how broad VP is) and triangulating comp - spouse resigned a $300k “Head of [function]” gig in Feb to accommodate a career move by me. Horrible timing in hindsight.
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McK - know the specific role and my spouse’s job history. At a corporate or a smaller professional services firm, the role would be Sr. Director/Head of. Given GS/JPM scale and banks’ love of VP title, I figured that would be the title but I may be wrong on that specific item. Poking around on LinkedIn, seems GS may use VP for more senior roles while JPM doesn’t. Is that your experience?
Worked at JPM on two engagements and know a VP who used to be at GS. VP is lower than director or executive director in their ranking. It is relatively a mid-level manger role and some people stay in that rank/role for many years. There is no up or out. Culture wise, JPM is good and some of the best in FS. VP at GS tends to be more senior and carry more weight/responsibilities. The culture there is more competitive and cut throat from I heard. You are looking at mid/upper 200k for the VP role at GS. Not sure about sign on bonus. It could be % of base. The bonus is great in a good year. But they work you hard and wlb is challenging.