Lateraling to another bank at the VP/Director Level
Hi just a question for anyone aware. When people who are at the VP/Director level lateral to banks with similar rankings - say a JP morgan to a Morgan stanley. How much of a raise are they being paid to do so? Would their salary go up 50K? 70k?
This makes sense because a director is just as important as an intern
I’m rolling right now. Intern is absolutely hilarious with this comparison hahaha
Whoosh
Typically your total comp would go up by 10-15 pts with some type of guarantee for your bonus (either bucket or actual number)
10-15 points? That’s a few thousand dollars on a salary of 400k…. How much would bonus go up by? 50k?
Percentage points - not basis points.
It's total comps, so it can be the base salary too. 50k at vp, could go above at director level. It depends as well in what context you are moving
Got it. I’m just wondering because lately I’ve seen a lot of moves like these. I’m in securitized products banking. Seeing people move from one BB to another and a thought that crossed my mind is what’s their incentive for the switch..
Comp, something different, new group / product, more advancement opportunity in a particular sector if their bank is rotund around the middle, etc.
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