Reading this forum makes my mind think I have the answer, but let me ask anyway. an SVP role in BNY NY os Yay or Nay? I haven't seen too many SVP roles advertised...Have seen VP's and some Dir's but SVP seems to be a rare stock? Hire and fire? Pip quota candidate? Individual contributor - work but no authority? Expected salary range - peantus or otherwise? TIA
10 replies (most recent on top)
The path to MD is a very difficult, rigorous process and takes many years, except of course for the new hires in off the street!
We don't hire people who say "folks".
It is baded on your letter grade. They also added a layer between Director and MD (Senior Director). When they did this, everyone below a SD was demoted. LOL. SD were on the path to be a MD. Mowbit will take longer.
@hq I seem to suddenly see an explosion of SVP title hiring at BNY and previously, I rarely saw SVP titles being advertised. Mostly VP and below..sometimes Dir and like SVP, never a senior Dir or MD
Of late, I have seen one or teo Sr. Dir roles
A lot of new roles are SVP so that they can pay market rates. Existing people doing same work are VP ( both old J and K grades).
Hire and fire? Yes, but youre safe for a year most times. After that fair game.
Pip quota candidate? Absolutely.
Individual contributor - work but no authority? Work but absolutely no authority and trust the Dir. and Sr Dir labels to disrespect and discount you in the most corporate way possible.
Expected salary range - peantus or otherwise? can be either, so do some research and try to go close to the upper band.
BIDE YOUR TIME IF NO OTHER OFFER AND LEAVE. YOU DONT MAKE CAREERS IN THIS PLACE
@a4 the overlap for all salary bands are ridiculous. You can have SVPs with base salaries that are much higher than SDs..
- Yea or nay.
@OP I was one of those. About 6 months or so before my forced departure I heard a rumor they were targeting svps (salary band L) for removal. In my case and that of many others the rumor was true and we are no longer there. I’d imagine there are still some in the company but the number has certainly decreased. Of course BNY is not limiting itself to only going after SVPs and will unleash their unethical behavior on any level but svp was a favorite target there for a while around the time of my exit. As for money, is really all over the map. I don’t recall the exact salary band but I know it’s wide.
The entire VP band title is for the silly and vacuous at BNY. It is a toilet paper label to make non inportant people feel important. SVP is part of that joke. It is a title that is gradually being fired. It is for old timers that are going to be sent to Robin’s knackers.