VP (report to executive director) strategy and analytics big bank in NYC. 8 YoE. What should I say for salary? Thinking $200k base. Would prob settle for $215k total (base + bonus). Reasonable?

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Why is everyone a vp at banks?

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Do strategy roles at banks really pay that low??

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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).

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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.

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Current TC $175. $150 base. Tier 2 city now

Ask for $250K total. Settle at 225. Those pizza slices in NYC are expensive.

likefunny

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?

likeupliftingfunny

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

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