Does anyone know VP1, 2, and 3 base salary numbers for bulge bracket banks? Last I heard was the $25k increase mid last year applied from associates to VPs. Not sure if all ranks of VPs are at $275 (considering the $25 bump to the $250 from early last year). Appreciate any insight.
(PS - the picture below has nothing to do with the post, just sharing for kicks)
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275 across all VP levels is standard now to my knowledge, someone please correct me if I'm wrong.
Directors make 300 and MDs usually 350 but that is really dependent on firm and largely irrelevant given the comp at that level should be very much largely skewed towards bonuses earned on business bought in.
Yea, VP now tends to be flat 275k with the delta coming in through the bonuses.
I’ve heard of directors base being 350+, and MDs even higher, but I guess at that high level comp tends to become bespoke.
Totally agree. And that makes a ton of sense. Banks can vary D/MD bases as much as they want but it shouldn't really matter for real producers.
Thank you @smokefrog
Thank you TheBuellerBanker appreciate the insight. In my dumb head I thought VP pays were stacked as associates 275, 300 and 325. Clearly, I was thinking about it all wrong
That's what it is at my firm but I've heard some banks bump VP by 25k a year. I recently read somewhere that BAML may have bumped their base even higher? Like 275, 300, 325?
BAML VPs were already at $275, I think the numbers in those reports going around may be off
Yeah they might but a lot of firms keep it flat. Thing is, you'll be making a Director or MD salary at that point and firms have no incentive to pay you as a VP past that amount. Like obviously at those levels you're not aiming for making the highest base given you're gunning for your variable comp but I can't imagine you're going from a higher base at VP into a lower base as Director know what I mean?
Some EBs have 300 for VPs right? EVR/LAZ?
VP1 is at $275k im not sure if moves up from there or not
kinda salty, at $250k base rn (UMM)
Damn. My mm is still at 225 for VPs
225k at a mid-market healthcare boutique
Was at Base $225K VP1 / $250K VP2
275 for all years at large Canadian bank
So RBC?
I'm at an EB--$300k across all VP levels with differential on bonuses.
Thank you. That is helpful. Some MM coming in at $250 seems so under market now.
VP1 at a top EB, 325 base. 100k bump from As3
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