Power of a vice president
How much influence does a Vice President of a group for IBD have in terms of hiring power or giving an interview to a candidate? This group isn't for a BB by the way more of a middle market firm and international. Thanks
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Pretty damn powerful, you're talking about somebody who works directly with the MD and is the final decision maker before the MD. Even more powerful in a smaller MM group where there's no corporate infrastructure to get in the way.
Somebody at the VP level wouldn't have to try to convince an MD to be as enthusiastic about you as he is. More like if the VP wants you in, provided the MD has no objections, you're pretty good to go.
ain't as powerful as the power of love
-huey lewis
Whenever I network I try and stay VP and above. I would say having a VP on you're side is a pretty good sign.
Obviously a VP is powerful; thats the second most powerful person in a firm after the president/CEO. But i doubt for a large company like citigroup you'll be able to meet the vice president of the company, that's like meeting vikram pandit and getting him to give you a job lol
lol, ricochet
you are getting ridiculous
you must be a troll
Companies are not like the US Government lol
On a side note, I have found a lot of women who are really impressed with the VP title. Some people just don't know any better.
I don't think the 'VP' he mentioned refers to the second most powerful person in a firm. In investment banking, VP is a level equivalent to about 5-8 years working experience, there are many VPs...
Everyone here knows that. RicochetX is a troll.
^lol, to everyone else, thanks.
How much (hiring) power does a VP have? (Originally Posted: 12/12/2011)
How much hiring power does a VP of 5+ years have if that VP is an alum, and you are trying to get a SA gig?
I think this depends how close you are to the VP (friend/family) and how structured the bank is. A VP alone got me into an MM SA. If its at a BB, I would think this is much harder. If its at a MM or non-TOP-elite boutique, as long as your stats are good then it shouldn't be a problem if they really want you.
VP's in general can pull you in for interviews, and from there, it's up to you to do well.
This is for a top BB, and for a Summer Analyst position. And this is an alum, not friend or family.
That's what I was thinking, I mean I don't expect them to be able to get me a SA gig, but I was hoping they could get me an interview.
Why did you put "hiring" in parenthesis?
I do not know myself.
I can comment from my own perspective, although you should take it with a grain of salt because I'm not in the front office.
As a VP in treasury, if there is headcount for a position that will be reporting to me (SA or FT), I have complete power to hire anybody I want, so long as they are reasonably competent and it isn't an obvious case of nepotism. With that said, I would be very hesitant to stake my own reputation on the line by hiring someone I don't think is qualified.
If there is a position that is in my overall group, but the position does not report to me, I can essentially guarantee a candidate a final round interview with the person who will ultimately decide.
I am also able to request headcount for a position, but I would need my MDs signature to approve it.
Short answer, if this VP thinks that you are competent and likes you enough to put some effort into it, your chances should look pretty good.
Thanks. That was the information I was looking for.
One more question:
Should I contact/get in touch with 2 VPs (both alums) are the same BB, in the same division. I mean the first one I contacted seems pretty reponsive, so contact a second one would be a bad idea right? I read somewhere on WSO that if 2 people at the same firm forward your Resume to HR, that looks very bad.
I would see it through with the first VP you've made contact with. If the second VP were in a different group, or was a Director or MD, then it would make sense to reach out to him as well. But even so, it would be best to wait until the first VP came back to you with some information.
How much power would a VP have in pushing an off-season internship? (BB) (Originally Posted: 01/16/2014)
Obviously for S&T. I have a friend at the VP level that's willing to help push my resume through for a internship (I'm still in school). Just curious about my chances of getting a interview on an off-season term. Also want to note that I do have prior internship experiences in related positions.
Thanks.
I connected very well with a VP in what was my favorite IBD group during interviews...needless to say, that connection paid off.
I have a friend that's a VP at BB and when I was moving out to NYC he said that even at VP he really didn't have much say at all, although he was freshly promoted to VP.
VPs can help get you connected to MDs and EDs.
How much pull does a VP have... (Originally Posted: 03/02/2007)
when it comes to helping get an internship?
It really, really depends. It can vary from firm to firm, group to group, and person to person. Sometimes, a VP wields a lot of power, sometimes they don't.
If your VP needs to hire someone to work for him, chances are, he's probably got the most influence on the hiring process, but the MD will have veto power. Actually, at some firms, any interviewer will have veto power if they've got serious reservations about your candidacy.
My very first interview for a financial company was with a guy who was a VP at Bank of America and I honestly thought I was interviewing with an executive. (True story) When I asked him how much he got to see Jamie Dimon, he knew I might not be the best candidate (joke.)In all seriousness, VP just means "manager". SVP means "someone who manages VPs". MD (Managing Director), ironically, is a higher rank than SVP.
Friend (non-target) got an offer from a BB because a VP took an interest in them and pushed their app through.
how did he pull that off?
streetluck....wait he didn't have to interview at all?
I'm sure he had an interview. No one gets hired for an entry-level at a BB without an interview.
Sorry, should have been clearer. He skipped the first round (which would have been the on-campus round for target students), and let him go directly into the superday.
He also put in a good word to people he would be interviewing with during the superday.
how did he get the interest of said vp?
could a 1st/2nd/3rd/4th year associate possibly have this kind of pull as well?
Everyone has pull, its just a matter of degree. if a MD knows someone, he/she will get at least an interview. I'm an analyst and I have pulled for people I knew and they got offers.
whoops, i meant MD not VP sorry
Just to clarify, executive director = senior VP = director, these are all the same title for the position between VP and MD correct? Are they just bank specific?
But if you hear director or SVP and the position sounds like it's NOT an executive level position (IE: healthcare credit trading), you can probably assume they're an SVP.
The MD level is going to involve a position that's the head of a division (IE: Rates Analytics. Credit Research. Equities Flow Sales.) Once you get at or above that level and they're still calling themselves a VP, it means they're really an MD and they report to the CEO. Chances are, a college student will not be meeting with someone at that level, though some analysts or associates might get the chance to meet someone at that level if they work at the firm long enough. (It happened to one of my friends when he was trying to correct a blowup in an analytics system- he had to get on the phone with the CFO and explain when the firm's risk numbers were going to be delivered.)
^^^ I think new1987 is asking for snide remarks about his degree and brainpower. :D
Yeah, you'll be spending a lot of time with a VP in a MM firm. Because of that, the MD will put a lot of stock in a VP's recommendation for a candidate.
AnthonyD, I'm not surprised a lot of women (and men too) find the VP title impressive. In most F500s, it's the title that comes before executive. For example VP of Architecture (IT) reports only to the Chief Information Officer.
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