Not that a VP at JPM isn’t a respectable job or anything, but it’s not like the “lead” for their function or the #2 in the office or anything like that. Source: work in finance, work with a lot of folks who worked at JPMC, and they are a customer of ours.Īs others have said, titles in banking (and often finance in general) can be very misleading. You need to have proved yourself at the company or at another company to get that level and you might have to wait for another director or MD to leave before you can move up to that level.
It varies by company on the process but not everyone makes director and there are only so many based on headcount and gearing ratios. You usually need support and backing from senior managers to make those positions and you are put up for the director or managing director level by them. If you want to think of it in different terms director is like making partner and managing director is like making managing partner (without the financial buy in). I know some VPs who have been at the company for 20+ years and won’t get any higher.ĭirector and managing director are the more impressive titles. There are different levels of VP so some people spend decades in the VP level moving up the ranks but never get any further. You can get promoted to VP without much fanfare.
Most people get to VP at some point by tenure and normal progression. VP is a step above associate level in finance. I will tell you how it works at my firm, another massive Financial institution, that has a similar process to JPMC.
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