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Got offer from JPMorgan Chase , but variable pay percent was not mentioned in it. HR told it will be around 10-12% . Is it true? It's for VP/602/Commercial Banking? How much we variable pay will get annually? Can someone help as based on this only in have to decide whether, I can go with counter offer or not?
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I personally do a lot of research day-to-day and have quite a few meetings lined up weekly to formulate strategy
Thanks for the response! Any chance you can be more specific about what you are researching? In terms of formulating strategy is it more a) our competitor just launched X product, how are we going to counter? or b) “We plan to hit 200% growth in two years, we need to sell X widgets this year and X widgets next year to achieve that plan
Not sure what’s it’s like in a start up, but I’ve worked in Corporation Strategy for a financial institution for 4 years and day-to-day my work consists of:
Cross org data analysis and insights that I provide to execs to make informed decisions (this is my personal concentration of work, it differs from other members of the team)
Strategic planning and alignment- working with business lines to ensure resource heavy initiatives and decisions align to our vision/mission/principles/etc. The way we formulate strategy is based on a framework
Strategic Foresight - basically researching changes in the industry or world that could potentially effect us now or in the future
I’d say that’s 80% of the work, my previous job also included innovation.
I’d say the summary is Corporate Strategy is the neutral view of the org, focused on the 50,000 ft view, eyes on the horizon of what the org and world will be in 5, 10, 20 years, and working with leaders to plan towards that future.
From my experience, it’s more C-suite collaboration on the vision of orgs future that’s facilitated by the team I’m on and the output of that discussion gets translated to a presentation for the board. Deliverables include agreed upon goals (financial and strategic) and design principles for vetting opportunities ie. we want invest in digital vs brick and mortar or specific stances for the way we want to deliver an experience. Also crafting the communication of strategic plan to all employees so they know where the company is headed. When I first joined, I reported to CFO who focused on future growth and projections of where we needed to be but have since transitioned to a newly hired CSO where we focus more on strategy and it’s more of a year round effort of planning, supporting business lines as they’re making decisions to improve and invest in new tech, and bringing up research in case we need to shift gears based on what we see as potential long term market disruption.
I’d say make sure which one it’ll be. I got baited in by my startup since I wanted to do strategy after my previous job and now I’d say I’m 90% FPA and 5% strategy. It was pitched to me as a highly strategic role, bs.
TLDR: talk to someone in that role or ask here to make sure of which one you’ll be doing and hopefully they’re honest.
It can be, depending in the company. It can also be a purely forecasting, budgeting, and reporting FPA role too. In terms of the 5%, in my case it’s mainly on the GTM side. So you get a feel of how customers feel about the product / pricing and how it compares to competitors. From there you take that into, should we stop servicing X vertical and focus on Y. Should we focus on only maintaining existing customers or acquiring new business. I don’t really play a significant role in these conversations but I model scenarios out, which is fairly interesting.