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Old 16.09.2016, 12:18
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Difference between AVP and VP at a bank

Hi,
Can someone please clarify what are the big differences in these roles at a big bank? the only things that strike me are possibly a different bonus structure applies to each of them and the salary range could also be different.


i also understand that there could be several bands within each role with respect to salary.
eg: AVP may have bands 1 - 5 with a defined salary range for each band.
is it possible that a VP at a bank earns less than a AVP (say in the highest band in AVP).


apart from monetary compensation (bonus and salary ranges), what are the other differences between these two roles?


Thanks in advance
happycreature
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Old 16.09.2016, 12:21
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Re: Difference between AVP and VP at a bank

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Hi,
Can someone please clarify what are the big differences in these roles at a big bank? the only things that strike me are possibly a different bonus structure applies to each of them and the salary range could also be different.


i also understand that there could be several bands within each role with respect to salary.
eg: AVP may have bands 1 - 5 with a defined salary range for each band.
is it possible that a VP at a bank earns less than a AVP (say in the highest band in AVP).


apart from monetary compensation (bonus and salary ranges), what are the other differences between these two roles?


Thanks in advance
happycreature
Different Bonus, different salary range is my experience. Both are commonly used titles, nothing special in my experience.




Yes, a VP can earn less than a AVP, who is longer with the company.
My boss used to say: even the cleaning lady is a VP ;-)
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Old 16.09.2016, 12:52
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Re: Difference between AVP and VP at a bank

As for bonus structures, it's my experience that bonuses at banks are arbitrary, at the complete discretion of the line manager. Eg he gets a pool of money and distributes it as he sees fit, not in accordance with systems aligned to titles.
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Old 16.09.2016, 12:54
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Re: Difference between AVP and VP at a bank

It depends on which bank. I think that some of the titles are not the same depending on which bank is concerned. For example, a VP at one bank might be a Director at another and vice versa.
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Old 16.09.2016, 17:27
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Re: Difference between AVP and VP at a bank

VP is so 1990s.

All the people I deal with in banks here seem to be Managing Directors...

Regards


Ian
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Old 16.09.2016, 17:28
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Re: Difference between AVP and VP at a bank

With the amount of VPs in the past and now MDs, I just keep wondering who actually works there?
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Old 16.09.2016, 17:40
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Re: Difference between AVP and VP at a bank

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With the amount of VPs in the past and now MDs, I just keep wondering who actually works there?
Consultants, of course.

On an unrelated note, I happen to be a consultant... any bankers reading this?
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Old 16.09.2016, 17:43
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Re: Difference between AVP and VP at a bank

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Consultants, of course.

On an unrelated note, I happen to be a consultant... any bankers reading this?


Was but I have seen the light :-)
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Old 16.09.2016, 18:18
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Re: Difference between AVP and VP at a bank

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Hi,
Can someone please clarify what are the big differences in these roles at a big bank? the only things that strike me are possibly a different bonus structure applies to each of them and the salary range could also be different.


i also understand that there could be several bands within each role with respect to salary.
eg: AVP may have bands 1 - 5 with a defined salary range for each band.
is it possible that a VP at a bank earns less than a AVP (say in the highest band in AVP).


apart from monetary compensation (bonus and salary ranges), what are the other differences between these two roles?


Thanks in advance
happycreature


In our bank, a AVP tends to have 5-8 years of experience and VP 8-12.


Bonus is, as mentioned before, fully arbitrary. The more ass kissing you do, the higher the bonus, hence no relation to work performance.


AVP can earn more than VP, this is depending on several factors. In some departments the salaries are higher, so AVP earns more than VP in other department. However, it is true that within same department, normally a AVP earns less than VP.


Other differences includes that a VP tends to not need to record time worked, i.e. if you manage to do all weeks work in one day, then you're done for the week. Exaggerating now, but you get the point. AVP needs to record every hour worked, otherwise he/she does not get salary for the job done. With that, they also get paid overtime.


VP's are seen as managers / senior managers whereas AVP is assistant manager if you wish.


Happy weekend ahead,
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Old 17.09.2016, 00:00
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Re: Difference between AVP and VP at a bank

"a"
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Old 17.09.2016, 02:07
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Re: Difference between AVP and VP at a bank

AVPs do the work and VPs take the glory for sitting on their butts and playing politics
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Old 17.09.2016, 08:34
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Re: Difference between AVP and VP at a bank

AVP/VP are the titles used at Credit Suisse or SwissRe. They correpond to the AD (Associate Director) / Dir (Director) titles used at UBS or Julius Br.
As an VP/Dir you get more fringe benefits, usually a free mobile phone and around 8-9'000 CHF/year expense allowance (also for backoffice jobs) for that you do not have to pay taxes and of course bonuses are generally higher. Compared with military ranks one could say a AVP/AD is a corporal whereas a VP/Dir is a lieutenant
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Old 18.09.2016, 14:15
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Re: Difference between AVP and VP at a bank

At Swiss Re the VP is more like an AVP in CS, no fringe benefits. DI is like VP in CS or DI in UBS. An AVP/ AD in CS/ UBS usually earns more than a VP at Swiss Re.
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Old 18.09.2016, 14:25
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Re: Difference between AVP and VP at a bank

Less holidays.
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Old 18.09.2016, 14:28
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Re: Difference between AVP and VP at a bank

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AVP/VP are the titles used at Credit Suisse or SwissRe. They correpond to the AD (Associate Director) / Dir (Director) titles used at UBS or Julius Br.
As an VP/Dir you get more fringe benefits, usually a free mobile phone and around 8-9'000 CHF/year expense allowance (also for backoffice jobs) for that you do not have to pay taxes and of course bonuses are generally higher. Compared with military ranks one could say a AVP/AD is a corporal whereas a VP/Dir is a lieutenant
I would say more like a 2nd lieutenant rather than a Corporal.
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Old 18.09.2016, 14:42
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Re: Difference between AVP and VP at a bank

FxcK,

My P status between Swisscanto (ZKB), Swiss Re, Swiss Life, Zurich Insurance, Credit Suisse and UBS in past 15 years has changed as much as my EF green / red reputation as a newbie.
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Old 18.09.2016, 22:54
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Re: Difference between AVP and VP at a bank

As a general rule of thumb, one can say that all ranks that start with the "A"-letter (Associate, Assistant Manager, Associate Director, Assistant Vice President) are only pseudo ranks that are not entitled to any competences, privileges or benefits. They are just glitter to make the "working class" feel more important. It is also remarkable that nearly 40% of all UBS employees have a rank "Director" or higher. Towers Watson consults the big banks and insurances helping them to harmonize their ranking system and salary bands for the various job profiles so that mutual enticement of important employees can be minimized.
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Old 19.09.2016, 12:32
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Re: Difference between AVP and VP at a bank

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As a general rule of thumb, one can say that all ranks that start with the "A"-letter (Associate, Assistant Manager, Associate Director, Assistant Vice President) are only pseudo ranks that are not entitled to any competences, privileges or benefits. They are just glitter to make the "working class" feel more important. It is also remarkable that nearly 40% of all UBS employees have a rank "Director" or higher. Towers Watson consults the big banks and insurances helping them to harmonize their ranking system and salary bands for the various job profiles so that mutual enticement of important employees can be minimized.
Not 100% true. AVPs have limited signatory powers that staff do not have at CS. They also have access to the corporate discounts on cars that technically staff don't get.
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Old 19.09.2016, 13:02
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Re: Difference between AVP and VP at a bank

Just make sure AVP isn't assistant to the VP
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Old 19.09.2016, 13:06
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Re: Difference between AVP and VP at a bank

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As a general rule of thumb, one can say that all ranks that start with the "A"-letter (Associate, Assistant Manager, Associate Director, Assistant Vice President) are only pseudo ranks that are not entitled to any competences, privileges or benefits. They are just glitter to make the "working class" feel more important. It is also remarkable that nearly 40% of all UBS employees have a rank "Director" or higher. Towers Watson consults the big banks and insurances helping them to harmonize their ranking system and salary bands for the various job profiles so that mutual enticement of important employees can be minimized.
What about A33holes, they are usually high ranking, with plenty of benefits ?
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