Everyone at a bank is a VP, how does that level in consulting? Interviewing one next week.

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I remember when I was a senior in college I saw that a bunch of my friends who were a couple of years older had AVP titles. I was in shock since my dad was a VP and he was pretty high up in his company (chemical manufacturer), and these guys were idiots. Then I learned that it doesn’t take much to get AVP at a bank.

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AVP Senior, VP manager, SVP director/MD. I’ll say that there are a few banks that this doesn’t apply to.

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Sr. ASSOCIATE

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Typical IBank how’s analyst - associate - vp - director / executive director - managing director. Title inflation is all about making the client comfortable with the person usually doing the pitching / sales

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Has to do with signing authority

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Investment banking salaries are higher. Bank ops are lower

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And by investment banking I mean IBD, not people who work for an “investment bank"

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^ people feel more comfortable when their RM is a VP. Mostly it’s that bank salaries are rarely comparable to similar roles outside financial services, so titles help

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I agree. There isn't much logical progression in banking titles (it's also backwards from industry where VP is higher than director many times). Wonder why it just doesn't go from associate - manager -director/MD

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Same reason everyone in sales is a VP - people are more likely to pick up the phone for a sales call from someone with high title

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"Investment banking" has gone the way of "management consulting"

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Wealth management is literally the worst kind of job. Sucking up at its finest. He can have his $350k (of which I'm sure at least half is bonus)

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He comes home and complains about his “hard days” and I try really, really hard not to punch him straight in the face. 👸🏼

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There are still distinct roles beyond the VP title...I would imagine you know what role/level you're interviewing for

Why do they inflate so much?

Don’t even try to equate. I know many a bank VP that don’t even make as much as an Associate. You really only start to matter at SVP+... and often just EVP+.

Analyst

Bank salaries are BELOW other industries’???

Oh yes, very - at least at the several large banks I’ve worked at over the years. Unless you’re on high level strategy or way up there in general

Could you elaborate?

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