Would a VP in Wealth/Asset/Risk (MO) management get paid as much as an investment banking VP at the same company and under normal circumstances? I'm sure there is variance, I'm just wondering about in general.
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Base pay its possible. Bonus is where you see the big difference.
What do you mean by middle office in wealth and asset management ? Thats very broad
Typical response: It depends, base may be similar, but the bonus for bringing in clients/fees is obviously higher for the VP in IB.
Your question is weird since you put wealth/asset management, which are traditionally FO jobs, with risk management, which is a back office (or MO) job. I assumed that you meant MO in general for all three of these sectors.
Short answer would be no. As others have stated, salary may be comparable, but bonus will never be. FO brings in big fees/revenue. MO is more of a supporting role, obviously important, but not sales-based.
Anything's possible, but generally IB VP's make $300k-700k all-in whereas your typical "senior" MO professional would be lucky to break $150k.
LOL wut?
more than 150k dude.
Exactly. Friend of mine is MD in Global Transaction Services at a BB (not sure if it's FO) and pulls in around 600k
Yea, I guess I meant wealth/asset management vs IB. I guess since they are client facing they are technically FO then? I was under the impression they were still considered MO.
Asset and wealth management can make a lot more compared to IB. It all depends
Umm yeah...way more
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