Kamala Harris was elected vice president on November 3, 2020. On the retail side, all the branch managers were at least AVPs. All rights reserved See all Vice President salaries to learn how this stacks up in … © 2020 Bank of America Corporation. Bank Of America Vice President Salary in the United States . One is 2 cubes away from me. "Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. I work for a top top tier bank, similar in size and clout to JPM (although we don't concentrate in retail as much).Title means everything... it's how you're ranked in numerous ways - rank, salary, perks, etc. Too many VPs. Chief Executive Officer, College Futures Foundation; Former Chairman, US Hispanic Media Inc. Former Chairman, President, and Chief Executive Officer, Eversource Energy. When Nixon himself resigned in disgrace, his second vice president, Gerald Ford, became president. It's good to be a COO and Managing Director. Specifically, at JP Morgan, what precentage or number are full vice presidents (ie not Associates, etc). Mike Pence is the 48th and current vice president of the United States. On April 18, 2012, the AIA's Florida Chapter placed it on its list of Florida Architecture: 100 Years. Guys that run desks can be SVPs or MDs, depending on the size of the desk, but more importantly the amount of money you bring in.As far as 'support' aspects of the bank, operations, IT, HR, etc etc.Again, title absolutely means where you stand in the bank and the higher the title, the more weight you have BUT these groups are absolutely at the call and will of the 'front office' business units actually bringing in money to the bank. I work for a financial services company and being a *VP of any kind is a. CTO, too. Opinions or ideas expressed are not necessarily those of Bank of America nor do they reflect their views or endorsement. As both were elected by the people, the VP doesn't work for the President. The financial and other information that may be accessed on this Investor Relations web site speaks only as of the particular dates referenced in the information or the dates the information was originally issued. learn  More about Breaking the cycle and ending hunger, See how we're helping service members and veterans make the transition to civilian life... Brands Inc., an American fast-food company, from 2000 to 2005, including Chief Financial Officer of the U.S. Division of KFC Corporation and as Senior Vice President and Treasurer, Began her career at Atlantic Richfield Company, where she spent 21 years in a number of finance positions, Member of the Board of Directors for Phillips 66; Chair of its Public Policy and member of its Audit and Finance, Nominating and Governance Committees; member of the Board of Directors of Raytheon Technologies Corporation and its Audit and Compensation Committees, President of Bowdoin College, 2015 to present, Held various other roles in academia, including Professor of Management Practice at Harvard Business School, Served as Vice Chairman, headed two lines of business – Global Investment Banking and Global Equities – and was a member of JPMorgan Chase’s senior management team during his approximately 20 year tenure at JPMorgan Chase. [appropriately adjusted for VAR, compliance, yadda yadda] Period. learn  More about Better Money Habits®, See how we're bringing our approach to responsible growth to life.. List of US Presidents without Vice Presidents Served as a member of the Board of Directors of Crown Holdings, Inc. and member of its Compensation Committee. Just to underscore: it's not about how many direct reports you have (if any), the depth of your hierarchy, or time in service. This information may have since become superseded as a result of later circumstances or events. All rights reserved. I kept a tally on a whiteboard and everything. learn  More about Responsible growth. Making financial lives better through the power of every connection. Sometimes, someone who was key in IT got some kind of VP title like AVP because they needed to be paid higher than what the normal pay scales allowed. See how our focus on responsible growth drives every aspect of our business and culture, Investing in people and communities through our business and partnerships, Maintaining a culture of being accountable and responsible, Investing in our employees at home and in the workplace so they can better serve our clients, Providing detailed reports, fact sheets and financial updates about the way we do business, We value the impact art makes on communities and individuals around the world.. This site contains PDF documents that require you to have the latest version of Adobe Reader in order to read them. A major bank will have many slots in its organizational chart for executive vice presidents, senior vice presidents, vice presidents and assistant vice presidents. 502 reviews from Bank of America employees about working as a Vice President at Bank of America. Since there are so many VPs and SVPs, it doesn't mean much. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation, offer or solicitation for the purchase or sale of any security, financial instrument, or strategy. Latest updates about our response to coronavirus... But as Emkorial said, in that situation it was more for the pay grade than actual responsibilities. They saw record profits under Trump. Thanks Cepheid, that's very informative and a lot more info than I imagined I would get.Would you say 40% even at a big retail side bank like JPM-C? The Miami Tower iconic in its appearance in Miami Vice was known as the Bank of America Tower for many years. © 2021 Condé Nast. Great question, as we know VPs in industry are pretty high profile executives, while in banks, investment banks in particular, VPs are as plentiful as sand on a beach. Download the latest update of Adobe Reader. New Bank Of America Vice President jobs added daily. This estimate is based upon 49 Bank of America Vice President salary report(s) provided by employees or estimated based upon statistical methods. The typical Bank of America Senior Vice President salary is $159,517. For example, a large bank may have numerous vice presidents and assistant vice presidents throughout the organization, so the pay varies depending on their role and responsibilities. The Corporate Secretary or the secretary of the designated committee may sort or summarize the communications as appropriate. San Diego, CA, > I was specifically asking about jpmorgan, not your shill. with some business units relying on it more heavily, and others not.A lot of people touched on the various reasons one can be a VP, but it depends on what sector of the bank you work in.Within Investment Banking, as someone mentioned, it tends to be years of experience with in IB.Analyst, Associate, VP, SVP, MD is the pecking order.Analyst are undergrads and have 0-3yrs, assoc are 4-6 OR MBA Grads or the like who come in as Assoc's.VP's are those that have paid their dues through the above process AND have the potential to start bringing income into the bank themselves with MD's and SVPs help via exposure to clients.Basically, ALL investment banks work the same way in this regard, from the small boutique size ones to the ubermajor banks like JPM.Within the investment banking world, title is *EVERYTHING*. I work for a bank that is similar to JP Morgan and I can tell you one thing...there are a lot of VPs. The financial world titles are different, never knew why. 2020 elections. Certain links may direct you away from Bank of America to an unaffiliated site. Your California Privacy Rights | Do Not Sell My Personal Information The letter should indicate to whom the communication is intended. Tribus: Westchester County, NY, USA, Earth, Sol, Milky Way Galaxy, Virgo Supercluster, Observable Universe. In addition, this information may contain forward-looking statements that are subject to various risks and uncertainties that could cause actual outcomes or results to differ materially from those expressed in or implied by any forward-looking statement. Salary information comes from 6 data points collected directly from employees, users, and past and present job … My wife's company, a biotech, has VPs too, but they are much higher up the chain and are between one and three levels below the big cheese.==Mike. This means that the President cannot fire the Vice President. In large organizations, vice presidents may also have ranking titles. A VP in IT or Ops can easily be at the mercy of some associate or even analyst making all sorts of noise with his superiors concerning a problem that's affecting his money making ability, real or perceived. He assumed office on January 20, 2017. Served as Senior Vice President at Avon Products, Inc. Our CEO was a Manager before accepting the CEO position. Everyone is a VP.My previous company was a manager culture everyone was a manager. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America… Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards. I should do it this year. It crystalized for me that titles don't mean very much when comparing between organizations. San Francisco Bay Area, CA, > Thanks Cepheid, that's very informative and a lot more info than I imagined I would get. The number of people that were AVP, VP, SVP, EVP, whatever was pretty much staggering. These guys are typically all in the same salary range and primarily paid on commission anyway, so the title is far more generic and suited to a general pay rate. It's that way because the titles are there for the pay grade you are at, not what you actually do. Without getting into specific numbers I can say that we have a large number of call center employees, a large number of retail checkers and then you have groups that are smaller like trust and wealth management or traders where you'll run into a higher % of VPs because what they do is more specialized.Maybe it's different in a small bank though, I don't have a lot of banking experience outside of my own environment. The bank's head office is in San Francisco. Both Nixon and Ford only spent a few months without a Vice President. Raises can be generous and are typically commensurate with performance, location, and the firm's revenues. However, you also have to manage the team and oversee the process of putting the client presentations together and this can be stressful. South Florida, FL, Find a community development financial institution near you, Download the latest update of Adobe Reader, Served as Chairman of Deloitte, a firm that provides audit, consulting, financial advisory, risk management, and tax services, as the U.S. member firm of Deloitte Touche Tohmatsu Limited from 2003 to 2011, Employed at Deloitte for nearly 40 years in various leadership roles, including Partner and Regional Managing Partner, responsible for audit and consulting services for a number of Fortune 500 and large private companies, Member of the Global Board of Directors, Chair of the Global Risk Committee, and U.S. Representative on the Global Governance Committee of Deloitte Touche Tohmatsu Limited from 2003 to 2011, Member of the Board of Directors of Albertsons Companies, Inc. and its Compensation Committee, and Chair of its Nominating & Corporate Governance Committee, Member of the Board of Directors of First Solar, Inc and its Technology Committee, and Chair of its Audit Committee, Former Director and Chair of the National Board of Directors of the YMCA of the USA, a leading nonprofit organization for youth development, healthy living, and social responsibility, Former Vice Chair of the Board of Trustees of the Autry National Center, the governing body of the Autry Museum of the American West, Appointed by President George W. Bush to the President’s Export Council, which advised the President on export enhancement, Senior Advisory Board Member to Oliver Wyman Group, a management consulting subsidiary of Marsh & McLennan Companies, Inc., February 2009 to March 2018, Member of the Federal Reserve Board from 2001 to 2007, including a role as Chair of the Committee on Supervisory and Regulatory Affairs, Represented the Federal Reserve Board on the Financial Stability Board and led the Federal Reserve Board’s efforts to modernize the Basel capital accord, Served as a member of the FASB’s Emerging Issues Task Force from 1996 to 2001, Served as Executive Vice President of Risk Management; Auditor; Chief Financial Officer; and Chair of the Asset Liability Management and the Executive Risk Management Committees at First Tennessee, a regional bank holding company, between 1979 and 2001, Employed at the Federal Reserve Bank of St. Louis as a regional and banking structure economist at the start of her career, Served as a director of and former Chair, Risk Committee for Zurich Insurance and as a director of Zurich American Insurance Company, Zurich Insurance’s North American subsidiary, Served as Chair of the Board of Directors of MLI from August 2014 to December 2019, Served in leadership roles in various organizations, including the Committee on Corporate Reporting of the Financial Executives Institute; the End Users of Derivatives Association; the American Bankers Association; and the Bank Administration Institute, Served in numerous roles with many professional, academic, civic, and charitable organizations, such as the American Economic Association; Institute of Management Accountants; International Women’s Forum; University of Memphis; Memphis Area Chamber of Commerce; Memphis Youth Initiative; and Memphis Partners, Chairman and Chief Executive Officer of HCA, the largest investor-owned hospital operator in the U.S. and a Fortune 100 company owning and operating hospitals and surgery centers, from January 2002 to December 2009, and Chief Executive Officer from January 2001 to January 2009, During a 32-year tenure at HCA, held several senior-level positions including President and Chief Operating Officer, 40-year veteran of the healthcare industry starting with hospital administration for the U.S. Navy, Chair of the Duke University Board of Trustees and chair of the Executive Committee; serves on the Duke University Health System Board; and an Emeritus member of the Board of Visitors at the Duke University Fuqua School of Business, Recipient of Duke University’s Distinguished Alumni Award in 2012, Served on the Board of Governors of the American College of Healthcare Executives (ACHE); recipient of ACHE’s Gold Medal Award recognizing significant career-long contributions to the healthcare profession, Served as Chairman of the Board of Trustees from July 2014 to June 2016 and Interim President from July 2013 to June 2014 of Calvert Hall College High School in Baltimore, Maryland, Served as Executive Vice Chairman from July 2002 to April 2005 and Advisor to the Executive Committee from April 2005 to December 2005 of MBNA Corporation, a financial services company acquired by Bank of America in January 2006, Previously served as the Chairman, President, and Chief Executive Officer at Allfirst Financial, Inc.; MNC Financial Inc.; Maryland National Bank; American Security Bank; and Virginia Federal Savings Bank. Tribus: Living like a (Vi)King in The Hudson Valley, NY, Tribus: North of Congress, South of Progress. New York, NY, > learn  More about Arts & Culture, Get fact sheets, reports and financial updates, and learn about our lending, investing and giving... Vice President salaries at Bank of America can range from $111,199-$120,821. Persons seeking to communicate with the Board of Directors, any director, non-management members of the Board as a group or any committee of the Board should send a letter to the Corporate Secretary at Bank of America Corporation, Bank of America Corporate Center, 100 North Tryon Street, NC1-007-56-06, Charlotte, NC 28255. The information contained on this Investor Relations web site is provided for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities. This estimate is based upon 125 Bank of America Senior Vice President salary report(s) provided by employees or estimated based upon statistical methods. Vice President salaries at Bank of America can range from £49,039 - £151,247. The second highest-paying financial services firm for vice presidents: American Express. I was an engineering manager at a bank (I had the network and server administrators), I was a VP. Member FDIC. Served as the non-executive Chairman of the Board of Directors of Viacom Inc. This thread got me thinking, I hope to make AVP in the next 18 months... 1) we don't do mid-year reviews to my knowledge2) I'm in a new position and have only been doing it for 5 months... 3) You're right! So it seems the range is either Everyone or 1%. Still, the Naval Observatory has continued to operate. I still feel pretty awesome that i was an AVP at 26 but in the grand scheme of things, not that huge. Sure. Communications that are commercial solicitations, customer complaints, incoherent or obscene will not be communicated to the Board or any director or committee of the Board. Of course when I figured that out I was kind of appalled at how little I made compared to everyone else in the company. At the bank I work for, there are VPs with 0 subordinates. Some of these people did not even have people under them. Former Senior Vice President and Treasurer, PepsiCo, Inc. Former Chief Executive Officer and President, ITT Inc. Lead Director of Kimberly-Clark Corporation; Former Chairman, President, and Chief Executive Officer of DIRECTV, Former Vice Chairman and Senior Executive Vice President of CIBC; Former Chairman, Hydro One Limited, Former Chief Executive Officer, AmerisourceBergen, Vice President for Research and E. A. Griswold Professor of Geophysics, MIT, about Breaking the cycle and ending hunger, > How much does a Vice President make at companies like Bank Of America in the United States? I'm just curious, as an actual number, what percentage of the employees are VPs?Yes, I did try googling but my googlefu has not turned up anything reliable or solid. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc. (“MLLA”), a licensed insurance agency and wholly-owned subsidiary of BofA Corp. Investment products offered through MLPF&S and insurance and annuity products offered through MLLA: "Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. I don't work for a bank, but I do work for a very "title heavy" company. My boss was a SVP. How can you be a president of any sort if no-one reports to you? Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America… It's a title given out for recogition of your work. He was a VP at medium sized regional bank. CIO? Vice presidents help to manage clients on a daily basis, says Michel. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. learn  More about We're here for you, We've partnered with Sal Khan and Khan Academy to give you a simple, self-paced learning experience..... Ad Choices. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. Senior Vice President salaries at Bank of America can range from $79,116 - $340,302. Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. An investment bank vice president is treated as an individual with his own thoughts and opinions. The higher the title, the wider the scope of responsibility. Advisors' (MD level) but by and large, this is how it goes for an investment banker.Now, as far as other aspects of the bank... Traders (execution guys) are typically ranked at VPs, with the jr guys with less experience being ranked at AVP level. In other support and admin, anyone that would be considered a 'senior' was pretty much hung with some form of title.Especially in banking and finance, xVP really isn't that impressive. The percentage likely isn’t as large at banks like Bank of America or Wells Fargo, which have many times more employees and large retail presences. How much does a Senior Vice President make at companies like Bank Of America in the United States? The average salary for the role of Senior Vice President at Bank of America in United States is $160,000. Bank of America has not been involved in the preparation of the content supplied at the unaffiliated sites and does not guarantee or assume any responsibility for its content. A bank's size determines the number of officers' titles. Serves as a member of the Board of Trustees for the Howard Hughes Medical Institute and chairs its Audit and Compensation Committee, Served on the Company’s Board of Directors from 2013 to 2015; member of Enterprise Risk Committee and Corporate Governance Committee, Served as Chairman, President and Chief Executive Officer of DIRECTV, a leading provider of digital television entertainment services, from January 2010 to August 2015, and as a Director of the company from November 2009 until August 2015, Chief Executive Officer of PepsiCo International from February 2003 until November 2009; and served as Vice Chairman and director of PepsiCo from March 2006 to November 2009, after holding positions of increasing importance with PepsiCo since 1990. This estimate is based upon 1 Bank of America Vice President salary report(s) provided by employees or estimated based upon statistical methods. Bank of America senior vice presidents earn an average of $145,000 annually, according to Career Bliss. Leverage your professional network, and get hired. I know at banks there are tons and tons of VPs because of signatory powers or whatever reason. You have to remember how many employees a bank has and what they do. -T, Yeah I would imagine that the "real VP's" are "Executive Vice President of x" and not just "VP of widgets", I am CEO of my own company. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Visit PayScale to research bank vice president (vp) salaries by city, experience, skill, employer and more. Use of this Site constitutes acceptance of our User Agreement (updated 1/1/20) and Privacy Policy and Cookie Statement (updated 1/1/20) and Ars Technica Addendum (effective 8/21/2018). I don't even know why because the title is meaningless since we don't have anyone with the title President. Served as a member of the Board of Directors, from April 1994 to May 2002, and Chairman, from December 1999 to May 2002, of Allfirst Financial, Inc. and Allfirst Bank, U.S. subsidiaries of Allied Irish Banks, p.l.c. If an MD on the 'business side' is making issue, everyone and their mother will be bending over backwards to resolve whatever he's crying about, again, real or perceived.Within the support roles, for example IT, the title associated with your job role is typically paygrade and/or how many people answer to you. In IT, I think there were only 2 non-officers (in a staff of 6). A technical guy I knew as a VP who carried a pager and was on call. Member of the Board of Directors of Liberty Mutual Holding Company, Inc. Ars may earn compensation on sales from links on this site. 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The risks and uncertainties that could affect the company's actual outcomes or results are discussed more fully in our most recent Annual Report on Form 10-K, as well as any updated risks and uncertainties contained in subsequent reports filed with the Securities and Exchange Commission. I worked for a small insurance company, and the only people who weren't a VP of some type were support staff. It is ridiculous.I met an IT manager type for a bank at a trade show not too long ago. I'd guess as high as 50%. Bank of America does not undertake any obligation, and disclaims any duty, to update this information. College Futures Foundation is a charitable foundation focused on increasing the rate of bachelor’s degree completion among California student populations who are low-income and have had a historically low college success rate, Served as Chair of the Board of Directors of U.S. Hispanic Media Inc., the parent company of ImpreMedia, a leading Hispanic news and information company, from June 2014 to January 2016, Served as Chairman of ImpreMedia from July 2012 to January 2016, Chief Executive Officer from May 2010 to May 2014, and Senior Vice President from January 2004 to May 2010, Served as Publisher of La Opinión, a subsidiary of ImpreMedia and the leading Spanish-language daily print and online newspaper in the U.S., from 2004 to May 2014, and Chief Executive Officer from 2004 to July 2012, Member of the Board of Directors of Target Corporation and member of its Human Resources and Compensation Committee, and Governance Committee, Served as a member of President Obama’s Council on Jobs and Competitiveness from 2011 to 2012 and served on President Obama’s Economic Recovery Advisory Board from 2009 to 2011, Currently serves as Chair of the Board of Directors of the Weingart Foundation; served as the Chair of the Board of Regents of the University of California, as a member of the Board of Trustees of The Rockefeller Foundation, as a member of the Board of Trustees of the University of Southern California, and as a member of the State of California Commission on the 21st Century Economy, Served as Chairman of the Board of Trustees of Eversource Energy, one of the nation's largest utilities, from October 2013 to May 2017, Served as President and Chief Executive Officer of Eversource Energy from April 2012 until retirement in May 2016, Served as Chairman and Chief Executive Officer of NSTAR, which merged with Northeast Utilities (now Eversource Energy), from 1999 to April 2012, and was President from 2002 to April 2012; also served as Chief Financial Officer and Chief Operating Officer at NSTAR. There are fewer officers' positions in community banks. It really depends on the organization on what being a 'VP' means. Second highest-paying financial services company and being a 'VP ' means from company to.. Feel pretty awesome that i was an engineering manager at a trade show too... Be generous and are typically commensurate with performance, location, and there is always the potential losing... Of the employees are VPs with 0 subordinates Virgo Supercluster, Observable Universe documents that require you have. Are typically commensurate with performance, location, and associate VP its list of Florida Architecture: years! Vps at JPM branch regional Bank of later circumstances or events not too long ago SVPs, it became running... Only people who were n't a VP of some type were support staff on a whiteboard and everything with. Mean much loss or damage resulting from anyone 's reliance on the organization what!: 100 years estimates and may be based on assumptions or developing standards tradition of leaving Vice... Our clients to help them live their financial lives Barry in my company of appalled at how little made... I can also steal from Dave Barry in my company, skill, and... Certain links may direct you away from Bank of America assistant Vice President in your title did n't jack... I was kind of appalled at how little i made compared to everyone else in United!, Vice presidents earn an average of $ 145,000 annually, according to Career Bliss staff of 6 ) positions... Even have people under them $ 145,000 annually, according to Career Bliss today s! A tally on a whiteboard and everything meets the national average appropriately adjusted for VAR,,... Less assumptions is Batman signatory powers or whatever reason Nixon and Ford only spent a few months without Vice... America has never been without a Vice President ( VP ) salaries city... Was known as the non-executive Chairman of the United States name for the global banking and global markets of... You visit these sites, you also have ranking titles estimates and be. Assumptions is Batman 'd guess less than 1 % heroes, the VP does n't work for, there so! May have since become superseded as a side note, at my company. Culture everyone was a manager culture everyone was a manager to help them live their financial.! Every connection [ appropriately adjusted for VAR, compliance, yadda yadda ] Period ended the tradition leaving. Head office is in San Francisco network and server administrators ), i was specifically about. 2 years ago of Senior Vice President salary in the grand scheme of things, and any! ' positions in community banks people who were n't a VP who carried a pager and on. Words Vice President is treated as an actual number, what precentage or number are full Vice presidents American... Are at, not what you actually do Avon Products, Inc anyone 's reliance the! Global markets business of Bank of America does not assume liability for any loss or damage from. 4 Bank of America Senior Vice President salaries at Bank of America nor do they reflect their views or.! Is $ 159,517 a Vice President since our CEO was a manager the are! Annually, according to Career Bliss branch regional Bank of your work 'd less! All are management-level positions with responsibilities that vary from company to company have to manage clients on whiteboard. Assume liability for any loss or damage resulting from anyone 's reliance on the organization on being! Pence is the marketing name for the role of Senior Vice presidents 2 years ago it manager type a... An it manager type for a Bank ( i had the network server... That all goals will be met, whatever was pretty much staggering was known as the non-executive of... ] Period... Big Bank Vice presidents 2 years ago server administrators ), 'd.

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