It literally is a pecking order as far as pay grade, perks, seniority, etc etc... with the MDs at the top and heads of sectors above them, and global heads of major sectors above even them... up to the Global Head of Investment Banking themselves.One can throw in a few Vice Chairmen (MD) for significant sectors (ie M&A) and specialty 'Sr. Some of these people did not even have people under them. Your California Privacy Rights | Do Not Sell My Personal Information In my banking experience, anyone who was not an individual contributor was a VP. Greater Washington, D.C. > My boss was a SVP. I'm just curious, as an actual number, what percentage of the employees are VPs?Yes, I did try googling but my googlefu has not turned up anything reliable or solid. But as Emkorial said, in that situation it was more for the pay grade than actual responsibilities. Guys that run desks can be SVPs or MDs, depending on the size of the desk, but more importantly the amount of money you bring in.As far as 'support' aspects of the bank, operations, IT, HR, etc etc.Again, title absolutely means where you stand in the bank and the higher the title, the more weight you have BUT these groups are absolutely at the call and will of the 'front office' business units actually bringing in money to the bank. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. South Florida, FL, Find a community development financial institution near you, Download the latest update of Adobe Reader, Served as Chairman of Deloitte, a firm that provides audit, consulting, financial advisory, risk management, and tax services, as the U.S. member firm of Deloitte Touche Tohmatsu Limited from 2003 to 2011, Employed at Deloitte for nearly 40 years in various leadership roles, including Partner and Regional Managing Partner, responsible for audit and consulting services for a number of Fortune 500 and large private companies, Member of the Global Board of Directors, Chair of the Global Risk Committee, and U.S. Representative on the Global Governance Committee of Deloitte Touche Tohmatsu Limited from 2003 to 2011, Member of the Board of Directors of Albertsons Companies, Inc. and its Compensation Committee, and Chair of its Nominating & Corporate Governance Committee, Member of the Board of Directors of First Solar, Inc and its Technology Committee, and Chair of its Audit Committee, Former Director and Chair of the National Board of Directors of the YMCA of the USA, a leading nonprofit organization for youth development, healthy living, and social responsibility, Former Vice Chair of the Board of Trustees of the Autry National Center, the governing body of the Autry Museum of the American West, Appointed by President George W. Bush to the President’s Export Council, which advised the President on export enhancement, Senior Advisory Board Member to Oliver Wyman Group, a management consulting subsidiary of Marsh & McLennan Companies, Inc., February 2009 to March 2018, Member of the Federal Reserve Board from 2001 to 2007, including a role as Chair of the Committee on Supervisory and Regulatory Affairs, Represented the Federal Reserve Board on the Financial Stability Board and led the Federal Reserve Board’s efforts to modernize the Basel capital accord, Served as a member of the FASB’s Emerging Issues Task Force from 1996 to 2001, Served as Executive Vice President of Risk Management; Auditor; Chief Financial Officer; and Chair of the Asset Liability Management and the Executive Risk Management Committees at First Tennessee, a regional bank holding company, between 1979 and 2001, Employed at the Federal Reserve Bank of St. Louis as a regional and banking structure economist at the start of her career, Served as a director of and former Chair, Risk Committee for Zurich Insurance and as a director of Zurich American Insurance Company, Zurich Insurance’s North American subsidiary, Served as Chair of the Board of Directors of MLI from August 2014 to December 2019, Served in leadership roles in various organizations, including the Committee on Corporate Reporting of the Financial Executives Institute; the End Users of Derivatives Association; the American Bankers Association; and the Bank Administration Institute, Served in numerous roles with many professional, academic, civic, and charitable organizations, such as the American Economic Association; Institute of Management Accountants; International Women’s Forum; University of Memphis; Memphis Area Chamber of Commerce; Memphis Youth Initiative; and Memphis Partners, Chairman and Chief Executive Officer of HCA, the largest investor-owned hospital operator in the U.S. and a Fortune 100 company owning and operating hospitals and surgery centers, from January 2002 to December 2009, and Chief Executive Officer from January 2001 to January 2009, During a 32-year tenure at HCA, held several senior-level positions including President and Chief Operating Officer, 40-year veteran of the healthcare industry starting with hospital administration for the U.S. Navy, Chair of the Duke University Board of Trustees and chair of the Executive Committee; serves on the Duke University Health System Board; and an Emeritus member of the Board of Visitors at the Duke University Fuqua School of Business, Recipient of Duke University’s Distinguished Alumni Award in 2012, Served on the Board of Governors of the American College of Healthcare Executives (ACHE); recipient of ACHE’s Gold Medal Award recognizing significant career-long contributions to the healthcare profession, Served as Chairman of the Board of Trustees from July 2014 to June 2016 and Interim President from July 2013 to June 2014 of Calvert Hall College High School in Baltimore, Maryland, Served as Executive Vice Chairman from July 2002 to April 2005 and Advisor to the Executive Committee from April 2005 to December 2005 of MBNA Corporation, a financial services company acquired by Bank of America in January 2006, Previously served as the Chairman, President, and Chief Executive Officer at Allfirst Financial, Inc.; MNC Financial Inc.; Maryland National Bank; American Security Bank; and Virginia Federal Savings Bank. learn More about Supporting those who've served, Bank of America press releases, searchable by category and year, Biographies of Bank of America executives, Resources for journalists writing stories about Bank of America, Awards and recognition Bank of America has received from publications and organizations, Review financial information including our SEC filings, press releases and quarterly earnings, Access recent financial presentations delivered to investors, See credit ratings, information on preferred stock and securitizations and additional fixed income investor materials, View and download current or historical annual reports and proxy statements, Look up your stock price, view historical quotes, dividend information and more, Access your shareholder account, review your history, and perform account transactions, Access press materials, speeches, executive biographies, corporate facts and more, Learn more about our management team, board of directors and the principles that govern our business, Reach our investor relations team by phone or e-mail, Hear from our directors about their roles on the Board. Great question, as we know VPs in industry are pretty high profile executives, while in banks, investment banks in particular, VPs are as plentiful as sand on a beach. Baltimore, MD, > At one time, we had 5 "Mr. X appointed to the newly created position of VP of Department Y" in a single year. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America… The financial and other information that may be accessed on this Investor Relations web site speaks only as of the particular dates referenced in the information or the dates the information was originally issued. A technical guy I knew as a VP who carried a pager and was on call. Communications that are commercial solicitations, customer complaints, incoherent or obscene will not be communicated to the Board or any director or committee of the Board. All rights reserved. The average salary for Senior Vice President at companies like Bank Of America in the United States is $266,966 as of December 28, 2020, but the range typically falls between $220,722 and $337,049. I should do it this year. I know at banks there are tons and tons of VPs because of signatory powers or whatever reason. Leverage your professional network, and get hired. The Corporate Secretary or the secretary of the designated committee may sort or summarize the communications as appropriate. Still, the Naval Observatory has continued to operate. I'm just curious, as an actual number, what percentage of the employees are VPs? Vice President for Research at MIT, a leading research institution, since 2013; ... Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. Certain links may direct you away from Bank of America to an unaffiliated site. You have to remember how many employees a bank has and what they do. Bankers' preference for the former vice president comes even as the Trump administration has delivered in … > Bank of America senior vice presidents earn an average of $145,000 annually, according to Career Bliss. Served as the non-executive Chairman of the Board of Directors of Viacom Inc. Both Nixon and Ford only spent a few months without a Vice President. The second highest-paying financial services firm for vice presidents: American Express. The life of an investment bank vice president centers on … Served on the Boards of Directors of XL Group, plc, Federal Home Loan Mortgage Corporation (Freddie Mac), and Mercantile Bankshares Corp. Average Bank of America Senior Vice President yearly pay in the United States is approximately $167,835, which meets the national average. Greater Los Angeles, CA. Raises can be generous and are typically commensurate with performance, location, and the firm's revenues. The financial world titles are different, never knew why. A VP in IT or Ops can easily be at the mercy of some associate or even analyst making all sorts of noise with his superiors concerning a problem that's affecting his money making ability, real or perceived. Learn about Bank of America culture, salaries, benefits, … Chairman of the Board and Chief Executive Officer, Bank of America Corporation, Former Member, Federal Reserve Board of Governors, Lead Independent Director, Bank of America Corporation; Former Chairman and Chief Executive Officer, HCA, Former Executive Vice Chairman, MBNA Corporation, Former Chairman and Global Head of Private Wealth Management, Deutsche Bank, President and Chief Executive Officer, Carnival, Former Executive Officer, The Cardea Group, LLC; Former President and Chief Executive Officer, BAE. Persons seeking to communicate with the Board of Directors, any director, non-management members of the Board as a group or any committee of the Board should send a letter to the Corporate Secretary at Bank of America Corporation, Bank of America Corporate Center, 100 North Tryon Street, NC1-007-56-06, Charlotte, NC 28255. Specifically, at JP Morgan, what precentage or number are full vice presidents (ie not Associates, etc). Tribus: Living like a (Vi)King in The Hudson Valley, NY, Tribus: North of Congress, South of Progress. ... Big bank vice presidents … A Day in the Life: Margie Rice, Vice President and Senior Portfolio Management Officer at Bank of America Merrill Lynch 7:30 a.m. to 8:30 a.m.: I start my day by catching up on e … Bank Of America Vice President Salary in the United States . Served as a Management Consultant at Bain & Company and Arthur Andersen & Co. Lead Director and member of the Board of Directors of Kimberly-Clark Corporation, Chair of its Executive Committee; Member of the Board of Directors of Whirlpool Corporation, Chair of its Audit Committee, and member of its Corporate Governance and Nominating Committee, Member of the Boston College Board of Trustees, Vice Chairman of The Partnership to End Addiction and Vice-Chairman of the Mariinsky Foundation of America, which supports the Mariinsky Opera, Ballet, and Orchestra and the Academy for young singers and the young musicians’ orchestra, Served as Vice Chairman and Senior Executive Vice President of CIBC, a leading Canada-based global financial institution, from July 2013 until his retirement in December 2014, Served as Senior Executive Vice President and Chief Risk Officer of CIBC from 2008 to July 2013, and Senior Executive Vice President and Chief Financial Officer of CIBC from 2000 to 2008, Employed at Wood Gundy, a CIBC predecessor firm, starting in 1977; served in various senior leadership positions, including as Controller of CIBC, as Chief Financial Officer of CIBC World Markets (CIBC's investment banking division), and as the Head of CIBC’s Canadian Corporate Banking division, Member of the Board of Directors of MLI and Chair of its Risk Committee, Currently serves as a member of the Board of Directors of Alberta Investment Management Corporation, a Canadian institutional investment fund manager, and on the investment committee of Cordiant Capital Inc., a fund manager specializing in emerging markets, Served as Chair of the Board of Directors of Hydro One Limited, an electricity transmission and distribution company serving the Canadian province of Ontario, and publicly traded and listed on the Toronto Stock Exchange, from August 2018 to July 2019, Former member of the Board of Directors of Jarislowsky Fraser Limited, a global investment management firm, from 2016 to 2018, former member of the Boards of Directors of DBRS Limited and DBRS, Inc., an international credit rating agency, from 2015 to 2016, and former member of the Board of Directors of TMX Group Inc., a Canada-based financial services company, from 2012 to 2014, Currently serves on the board of advisors of the University of Toronto's Department of Mechanical and Industrial Engineering, Served as Chief Executive Officer of AmerisourceBergen, a pharmaceutical services company providing drug distribution and related services to healthcare providers and pharmaceutical manufacturers, from 2001 until his retirement in July 2011, and as President from 2001 to 2002 and again from September 2007 to November 2010, Held various positions at AmerisourceBergen and its predecessor companies during a nearly 40-year career, including Chief Executive Officer from 1997 to 2001 and Chairman from 2000 to 2001 of Amerisource Health Corporation, Member of the Board of Directors of Johnson Controls International plc and its Corporate Governance Committee; Member of the Board of Directors of Marsh & McLennan Companies, Inc., and its Compensation Committee, Directors and Governance Committee, and Finance Committee, Vice President for Research at MIT, a leading research institution, since 2013, Senior Research Scientist at NASA since 2010, serving in 2012 as Principal Investigator of the Gravity Recovery and Interior Laboratory, or GRAIL, mission, which was designed to create the most accurate gravitational map of the moon to date and give scientists insight into the moon's internal structure, composition, and evolution, Served as a Professor at MIT since 1995, and was Head of the Earth, Atmospheric, and Planetary Sciences Department from 2003 to 2011, Served as Scientist at NASA from 1993 to 2010, and as a Geophysicist from 1986 to 1992, Member of the Board of Directors of Textron Inc. and its Nominating and Corporate Governance, and Organization and Compensation Committees, Appointed by President Obama in 2013 and reappointed by President Trump in 2018 to the National Science Board, a 25-member panel that serves as the governing board of the National Science Foundation and as advisors to the President and Congress on policy matters relating to science and engineering; served as Board Chair from 2016 to 2018, Currently serves as a member of the Board of Directors and Executive Committee of The Massachusetts Green High Performance Computing Center, a joint venture by Massachusetts universities, which provides infrastructure for computationally intensive research, Currently serves on the Board of Fellows of Brown University. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Vice President salaries at Bank of America can range from $62,371 - $263,936. This estimate is based upon 1 Bank of America Vice President salary report(s) provided by employees or estimated based upon statistical methods. learn More about Better Money Habits®, See how we're bringing our approach to responsible growth to life..
His boss was the the CIO.It is definitely a title that has no global significance, like "engineer", "architect", etc. The executive VP is usually the highest level, followed by senior vice president, vice president, assistant VP, and associate VP. Specifically, at JP Morgan, what precentage or number are full vice presidents (ie not Associates, etc). Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. These materials are for informational purposes only. I work for a financial services company and being a *VP of any kind is a. Just to underscore: it's not about how many direct reports you have (if any), the depth of your hierarchy, or time in service. The letter should indicate to whom the communication is intended. I was a "manager" long before I ever managed anyone, but that's just the name that went with that positions level. Chief Executive Officer, College Futures Foundation; Former Chairman, US Hispanic Media Inc. Former Chairman, President, and Chief Executive Officer, Eversource Energy. See all Vice President salaries to learn how this stacks up in … with some business units relying on it more heavily, and others not.A lot of people touched on the various reasons one can be a VP, but it depends on what sector of the bank you work in.Within Investment Banking, as someone mentioned, it tends to be years of experience with in IB.Analyst, Associate, VP, SVP, MD is the pecking order.Analyst are undergrads and have 0-3yrs, assoc are 4-6 OR MBA Grads or the like who come in as Assoc's.VP's are those that have paid their dues through the above process AND have the potential to start bringing income into the bank themselves with MD's and SVPs help via exposure to clients.Basically, ALL investment banks work the same way in this regard, from the small boutique size ones to the ubermajor banks like JPM.Within the investment banking world, title is *EVERYTHING*. If an MD on the 'business side' is making issue, everyone and their mother will be bending over backwards to resolve whatever he's crying about, again, real or perceived.Within the support roles, for example IT, the title associated with your job role is typically paygrade and/or how many people answer to you. Served as Senior Vice President at Avon Products, Inc. It really depends on the organization on what being a 'VP' means. He was a VP at medium sized regional bank. I can also steal from Dave Barry in my company. Former Senior Vice President and Treasurer, PepsiCo, Inc. Former Chief Executive Officer and President, ITT Inc. Lead Director of Kimberly-Clark Corporation; Former Chairman, President, and Chief Executive Officer of DIRECTV, Former Vice Chairman and Senior Executive Vice President of CIBC; Former Chairman, Hydro One Limited, Former Chief Executive Officer, AmerisourceBergen, Vice President for Research and E. A. Griswold Professor of Geophysics, MIT, about Breaking the cycle and ending hunger, > Before acting on any information in this material, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. As a side note, at my last company, it became a running joke at home VP positions they created. I work for a financial services company and being a *VP of any kind is a very big deal.Chain of Management:Project LeaderProject ManagerDirectorAVPVPSVP...Most VPs have at least 70 or so employees under them and way more if you count consultants. Sometimes, someone who was key in IT got some kind of VP title like AVP because they needed to be paid higher than what the normal pay scales allowed. Today’s top 4 Bank Of America Vice President jobs in United States. As both were elected by the people, the VP doesn't work for the President. My guess is that it is in fact years of experience, not compensation that determines if you're a VP. This estimate is based upon 250 Bank of America Vice President salary report(s) provided by employees or estimated based upon statistical methods. There are only two people in the USA who are elected by all 50 states (in a "national election") – the President and the Vice President. This estimate is based upon 49 Bank of America Vice President salary report(s) provided by employees or estimated based upon statistical methods. There are fewer officers' positions in community banks. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards. Thanks Cepheid, that's very informative and a lot more info than I imagined I would get. All rights reserved Too many VPs. Sure. This thread got me thinking, I hope to make AVP in the next 18 months... 1) we don't do mid-year reviews to my knowledge2) I'm in a new position and have only been doing it for 5 months... 3) You're right! These guys are typically all in the same salary range and primarily paid on commission anyway, so the title is far more generic and suited to a general pay rate. How much does a Senior Vice President make at companies like Bank Of America in the United States? Silicon Valley, CA, > I worked for a small insurance company, and the only people who weren't a VP of some type were support staff. Certain links may direct you away from Bank of America to an unaffiliated site. Bank of America does not undertake any obligation, and disclaims any duty, to update this information. 2020 elections. And thus ended the tradition of leaving the vice presidential slot empty: America has never been without a vice president since. Vice Presidents have welcomed countless guests to the residence, including foreign leaders and dignitaries. Advisors' (MD level) but by and large, this is how it goes for an investment banker.Now, as far as other aspects of the bank... Traders (execution guys) are typically ranked at VPs, with the jr guys with less experience being ranked at AVP level. It's good to be a COO and Managing Director.