May 24, 2024

KT Business

The Business Servicess On for You

What it means to be an engineering VP in an investment bank

2 min read

In most industries, the software engineering hierarchy has rather rigid tiers. Engineers become senior engineers, then staff, then principals. But in investment banking, things work differently; many banks have analysts, associates, vice presidents and managing directors, just like non-technical roles.

So, what does it actually mean to be a VP of engineering in an investment bank? On jobs forum blind, technologists from some of the major banks weighed in. 

“VP roles in the tech side of investment banks can be thought of as senior/staff engineer role equivalents,” says one Deutsche Bank employee. They’re usually an independent contributor “with either some kind of specialty or broad knowledge of internal systems and know how to work with stakeholders.”

Click here to sign up to our technology newsletter 🔧

One JPMorgan engineer said it’s closer to being a senior engineer, though with more years of experience than the norm, and requires you “to be able to show some management skills.”

If your goal is to stay an independent contributor, the Deutsche Bank engineer says it’s “terminal” to remain in banking, as you “can’t really progress any further up the ladder.” If you value freedom, you may also struggle. A different JPMorgan engineer says that, below managing director, “all the other [seniorities] are supporting” positions.

When it comes to pay, one ex-JPMorgan VP advises that “your negotiation leverage going in is pretty important.” He says the “VP band can go pretty high depending on the company,” and was able to receive a total compensation package above $400k. However, our compensation report last year revealed that average TC for a tech VP is $185.5k.

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for top jobs in technology and finance.

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email [email protected]. Signal also available.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by Blend Archive on Unsplash


Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © All rights reserved. | Newsphere by AF themes.