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Why is everyone a vp at banks?
Do strategy roles at banks really pay that low??
Why such a small bonus? If you are asking for $200k plus, you usually have to leave some more than 7.5% at the end of the year. I would go for a minimum target bonus of $50k on a $200k base. If you think top of range is $215 all in, $185/30 is probably as close as you will get in base. Maybe even less in base. But negotiate the base up if you can (I just see that as an uphill battle).
Also confused as to the bonus structure. I would think that a VP would be at least 20% bonus but I may be a bit skewed, working support roles in CIB. Total comp isn't bad for 8 yoe.
Current TC $175. $150 base. Tier 2 city now
Ask for $250K total. Settle at 225. Those pizza slices in NYC are expensive.
Yes
Where are you getting this role? I am f with same experience and not getting $200k.
Just curious, but isn't OP an M and you're an SC?
C1 it’s a generic level above associate. More importantly, how do I get to $200k?
Yeah basically it could be anything from SC-SM. Depends on the bank and reporting structure. In this case it’s pretty much a lateral
IMO 200 is too much. SVPs in most NYC retail banks range 180-200 base + 20% bonus (I have direct knowledge of this). Depending on the bank, Directors are 180-230 base plus bonus. I don’t know any VPs but I strongly doubt they are willing to pay you 200.
Didn’t mean the bonus structure had to be $200 + $15, just that I’d settle for a combination resulting in $215. Will find out on Monday
Update: had the phone screen they said $190-205 TC (base plus bonus). Hope that helps inform expectations for those of you who are following
Op what firm are you? Big 4?
Plus MBA and 5 yoe at bank... that’s prob relevant info for comp too