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Bonus for a Vice President in Banking

  1. #21

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    one other problem is the inflation of title.. these days the VP level seems to be pushed lower and some banks are pretty much mass stamping VPs... Not sure so much about JPM and MS though... had impression that JPM is always more stingy with titles but apparently not necessarily so because they have to compensate for their lacking of competitiveness in pay (versus some of the other banks) with better titles..

    i think 40-60k is on the low side.. but 120-130 seems extremely high as well... in the front you probably can get 120-130...

    jgl likes this.

  2. #22

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    Aug 2010
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    I can state with certainty what a UK bank is paying its VP here in HK, ie a well known UK bank that whilst headquartered in the UK earns its money here in HK. The salaries for its middle office VP are circa 120-130k per month. As the poster is a new hire he/she could very well expect to receive that based on the market. A salary of 40-60k at this bank is one band perhaps two bands lower. If the OP is talking about US banks they pay more but of course the benefits are different, and also bonuses are higher. So a base of 1.5m plus bonus is not at all unrealistic.

    jimbo_jones likes this.

  3. #23

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    Be very careful. Some of the disparity may we’ll be explained by whether the person is on a local or expat package. Expat, to a large extent, is dying out but not necessarily if you are on a 2-3 year only stint.

    Of course if you are American and want the ‘protection of the US’ you also have additional taxes to pay

    I would have said apart from senior management roles the range would be 60-130,000 dependent on the usual factors.

    Bonus is bonus but if there are any non front line actually receiving more than 35-40 per cent then they are doing very well. I would factor in 10-25 depending on performance and regard anything in excess of that as a bonus bonus!


  4. #24

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    Dec 2013
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    Quote Originally Posted by GooBee
    Ok guys, thanks for all the input. Seems to be a disparity between the potential bonus figures, so it’s unfortunate that there is no one currently working as a VP in operations, who could give a more conclusive respond.

    By the way, times really have changed.

    Interesting discussion, thanks again all!
    I think you rather missed the (good) point noted above that bonuses vary! Your base will stay, but you could lose your bonus because of a bad year at the bank or if your performance is not up to scratch. Much riskier. I would never, ever rely on my bonus. It's totally losable.
    JAherbert likes this.

  5. #25

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    Jun 2019
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    Wow thats huge bonuses, but are the work hours cray and I think its a lil unstable now


  6. #26

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    May 2011
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    I’d never work for an investment bank anywhere in the world. Done it twice before, never again.

    I work in a bank where sometimes I’ll have evening calls, sometimes I’ll stay late, sometimes I’ll do a few hours on a Sat or Sun. I refuse to do calls after 6 Thurs/Fri. I have a 10pm finish call limit Mon - Wed and if I need to go at 5 or WFH I do.

    Don’t tar the whole of HK with one brush. I’d take here over anywhere else in the world to work in my industry


  7. #27

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    Quote Originally Posted by ByeByeEngland
    Don’t tar the whole of HK with one brush. I’d take here over anywhere else in the world to work in my industry
    I've worked in HK (twice) , London, New York and Tokyo (twice) ... - working hours are worst in HK by far. Not had the pleasure of Singapore yet though.

  8. #28

    Join Date
    Jun 2011
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    Regarding salary I think people are mixing up roles here

    Back office tasks like = Risk, Compliance and other business line tasks which many banks label "mid-office", yes here salaries for a VP can go as high as 120-130k base, but many VPs are also on sub 100k base.

    Back office tasks like = Effecting payments, confirmations and settlement of trades, no here salaries are not 120-130k for a VP role.

    General competence, study background etc is usually very different of group 1 and 2 above.

    shri likes this.

  9. #29

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    Aug 2010
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    I agree with this point, it is always an issue with locals particularly to see non-locals earning more, but they conveniently fail to forget the additional experience.


  10. #30

    Join Date
    Nov 2017
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    Client onboarding 120k may be possible but is likely the upper end for an non-lead. VPs in HK tend to be more senior compared to NY and LDN (more people at the Associate level). I would not expect more than 20% for bonus. All else being the same I think JPM is the better choice (depends on the line of business, but JPM is generally in growth mode in the region and is better positioned to weather a downturn).

    Another thing to note that is some banks pay Operations overtime (Goldman does in NY for example).

    GooBee likes this.

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