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Not sure how YOE maps to banks exactly, but in general, titles for banks are highly inflated. For example, there are A LOT of VPs in banks and it doesn't take long to hit that.
I also know of someone who became a "Senior Manager" one year out of undergrad at one of the banks.
VP title in banks will be sales / Cap market titles.
Rising Star
Titles are definitely inflated. When designing roles and structures for banking clients, we frequently talk about a junior role but the client will push back and say “that would be a SM or director level accountability”. Typically SCs in consulting exit to SM, and Managers exit to director level roles. In addition, some parts of banking like capital markets have even more inflated titles (think associate director instead of SM etc)
What is the point of these inflated titles? Legacy bankers must’ve loved the ego boost.
My clients are mostly CPG and they’re much more down to earth with the titles and follow the consulting scale
My friend (‘16 grad) is a senior director at RBC. He’s just a really great guy who really cares about his team and works really hard. Also really smart guy
He just went up the ranks analyst > manager > ad > d > as
He must have had some sponsorship / support to move that fast within a bank. What is approx salary as Sr director at RBC? $150-200k