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You should go in for 5.3 as promotions take time and increments are not that high. So negotiate well when you join in. Else, a great company with good benefits.
Actually I had my final round with HR today and she clarified that there are no such differentiation available. Is it possible that in HSBC only tech team has this bifurcation in band and not necessarily in Finance.
AVP is a bit junior but considering your experience of 7 years then this might be a fit. They have next VP, SVP, Director and then MD.
Under AVP as well, are there further band level segregation like 5.1, 5.2 and 5.3.
Basis my research, considering my experience of 7 years I should aim for 5.2 band. Please confirm if ky understanding is correct.