VP Comp Benchmarks
Curious what 2023 looked like for VP comp. Canadian exploring a potential move to the U.S. because the gap is getting fairly chunky at this point in my career. Would appreciate:
Firm Type (BB / EB / MM)
Level (VP 1/2/3)
Salary / Bonus / TC
Avg. Working Hours
Overall Satisfaction
Based on the most helpful WSO content, here's a summary of Vice President (VP) compensation in 2023, focusing on the investment banking sector. This should give you a good idea of what to expect, although specific details like firm type categorization (BB/EB/MM), level differentiation (VP 1/2/3), average working hours, and overall satisfaction aren't directly provided in the context. However, I can share the average total compensation figures for VPs in investment banking to help guide your understanding:
While this gives you a snapshot of VP compensation in investment banking, it's important to note that actual compensation can vary widely based on the firm, its categorization (Bulge Bracket, Elite Boutique, Middle Market), individual performance, and other factors. Additionally, working hours in investment banking are generally long, often exceeding 70-80 hours per week, which can impact overall satisfaction.
For a more detailed understanding or specific insights into firm types, levels, and other aspects you're curious about, I recommend exploring more detailed reports or reaching out directly to professionals in the field. Networking and direct inquiries can provide more personalized and current information relevant to your situation and interests.
Sources: CorpDev Compensation 2023, ER Compensation 2022/2023, What's Your Five Year (IBD) Plan? A VP Reflects and Looks Forward., VP by 30?, New VP struggles - asking seasoned VPs for help
hard to give accurate take because last three years have been heavy bull x 1 and pretty heavy bear markets x2. Some banks paid decently for '22 and then fell off a cliff in '23, some were bad for both years. I was pretty stable, just not much upside - between 605-650 TC for all of the three years. I was top bucket all of those years - large bank but not tier 1/2 bulge.
Touch grass
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