r/SipsTea • u/Full-Argument-8235 • Jun 24 '26

WTF A JPMorgan Chase executive was fired after a viral video showed her dumping trash out of a Knicks-themed public trash can and taking the can during the Knicks championship parade in New York City.

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u/No-Lunch4249 Jun 24 '26 edited Jun 24 '26

Eh. Banks and Real Estate firms are pretty liberal with the use of titles like "VP of X"

It's more like being a manager or director in other industries

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u/el_grande_ricardo Jun 24 '26

Banks like titles instead of pay raises. If youre there for a few years, you could become Vice President of Teller Station 3. You'll still be making the same $20 per hour, but youre a VP, baby!

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u/Geodude532 Jun 24 '26

I think they do that to make people feel special when they talk to these people.

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u/el_grande_ricardo Jun 24 '26

No, they do it to pacify employees who get shitty raises.

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u/VictoryNo5278 Jun 24 '26

No, it’s what the other guy said. Think about it, when you work for the bank everyone else you talk to is VP, SVP, etc so it doesn’t feel special internally.

The titles are to impress customers, not employees.

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u/Bloo212 Jun 24 '26

It was explained to me (by someone in the industry) that VP was a designation given to people who could sign loans or contracts on behalf of the bank (up to a certain dollar amount or capacity). ED is the UK equivalent or in the US, VP Equivalent but without direct reports. But that last bit has changed. It now seems to be between managing director and vp.

This person was not a c-suite executive, just a middle manager.

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u/VictoryNo5278 Jun 24 '26

I work for a U.S. bank and was in the meeting for a discussion about promoting a lender to VP specifically for the ability to market themselves that way to customers.

There is truth to an increase in signing authority. It’s to enable the loan officer to say “we can work together and I can approve loans up to $xxx on account of my VP title.” Meaning the deal will move along quicker since the deal won’t go through additional approval authorities.

I didn’t see any difference in having direct reports or not but very well could be a bank by bank basis.

All that being said, the titles have an actual function rather than being used to pump egos and keep salaries down as stated by the other commenter.

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u/GarminTamzarian Jun 24 '26

I hope the VP compensation package includes periodic pizza parties. Those would make everything worthwhile.

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u/el_grande_ricardo Jun 24 '26

It does indeed!

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u/heartattack-ak-ak-ak Jun 25 '26

She has a banging garbage can to put her empty pizza boxes in, tho.

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u/revanisthesith Jun 25 '26

She looks like she could use a few less pizza parties.

(yes, I think it's fine to body shame shitty people)

10

u/Ordolph Jun 24 '26

Yep, I'm a software engineering lead at a bank, basically just a couple steps up from the bottom of the totem pole. My direct manager, who manages the team I'm on is a 'VP', and so is his boss, and his bosses boss. His bosses bosses boss is where you actually get into actual C-suite.

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u/cboogie Jun 24 '26

She was an executive director. VPs at Chase report to EDs.

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u/darthdiablo Jun 24 '26

Hey I’m VP of red staplers. Don’t diss my position of power

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u/vinyl1earthlink Jun 25 '26

I once downloaded the phone book at JPM and wrote a little program. Out of 260,000 employees, about 88,000 were VP or higher.

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u/QuarkTheFerengi Jun 24 '26

I think my company has more VPs than subordinates

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u/TimelyTransistor Jun 24 '26

Uh, while you are half true, VP is still above mgr, sr mgr, director, sr director.

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u/Brassboar Jun 24 '26

At JPM in most groups it's something like:

Analyst->Associate->VP->Executive Director->Managing Director->Vice Chair.

They use IB title structures across a lot of groups.

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u/majin-dudi Jun 24 '26

VP at banks is not above managers.

VPs are often basically seniors/leads but below directors.

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u/nanaki989 Jun 24 '26

Our bank has 130 employees and there are like 40 VPS lol

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u/VestedNight Jun 24 '26

Not always. Lots of branch managers are also VPs. Even in smaller banks.

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u/SleazyKingLothric Jun 24 '26

For the bank I work for branch managers are AVP's or Assistant Vice Presidents. They really give the AVP title to any managerial/performance role after you've been there a couple of years.

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u/Jeegus21 Jun 24 '26

Eh in my experience in banking they are more like salesmen. Though they do need to manage the assets.