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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask for specific salaries?

42 replies

silentquery · 14/09/2023 19:59

Hi, need people in the know and NC to get closer to the info!

How much would you be paid if you were what is called a 'Vice President' at an international/ global bank?

You would have been recruited in another large international banking city and now work in London.

You have more than 20 years experience in international investment banks.

Your last known salary is the equivalent of £168,000 in 2018....

What are you on now?!!

OP posts:
Shakenbutbarelystirred · 14/09/2023 20:09

VP is relatively junior for 20 years experience, and ‘working in an investment bank’ covers doing a huge range of things with salaries from millions downwards.

was £168k the total package in 2018 or just the salary? Depending on the job, the bonus could be a fraction of, or a multiple of, the salary.

There has not been huge wage inflation in the city in that period, so unless the role has changed, someone doing the same job may earn c 8% more now?

Rainbowshit · 14/09/2023 20:12

Vice president really isn't all that senior.

When you say they are now in London was the salary you know in 2018 not a London based salary?

ShirleyPhallus · 14/09/2023 20:14

Vice president isnt a senior role, I’d be surprised to have that salary 5 years ago for that level

Ozziedream · 14/09/2023 20:15

Depends on what they are VP of. Back office? Compliance? legal? Are they originating work? As per pp, VP is quite a junior title. They could be on anything from £100k upwards. And sometimes bonus is 200% + of base salary. Or nothing like that. Depends!

Original poster
silentquery · 14/09/2023 20:43

Sorry! VP is last role name I recall. Director was another. All sounded made up because the person was neither a VP or Director in real terms.... but I don't know banking.
Both terms would now be at least 6 years out of date now- sorry!

OP posts:
Original poster
silentquery · 14/09/2023 20:46

Also I am from a vastly different profession so I apologise for not knowing anything.

Last ref I recall is syndicating the bank in a new country and organising compliance/ risk of the bank in a 3rd country

OP posts:
Original poster
silentquery · 14/09/2023 20:47

Aaarghh will have to delete as feel it's so specific.

Basically I earn low enough that I also get UC to top up. Person I'm posting about is father of my children and hasn't paid any maintenance for 2.5 years. Trying to use CMS to work out what should be paid in UK amounts but don't know his salary

OP posts:
Travelfan2021 · 14/09/2023 20:48

This reply has been withdrawn

Removed at poster's request due to privacy concerns.

Giveuprobot · 14/09/2023 20:51

silentquery · 14/09/2023 20:47

Aaarghh will have to delete as feel it's so specific.

Basically I earn low enough that I also get UC to top up. Person I'm posting about is father of my children and hasn't paid any maintenance for 2.5 years. Trying to use CMS to work out what should be paid in UK amounts but don't know his salary

I think the reason for asking was fairly obvious without the clarification.

DCIJackieDeering · 14/09/2023 20:52

The seniority in one large bank I know goes (from junior to senior)

Assistant Vice President
Vice President
Director
Managing Director

in some American banks Vice President can be more senior.

in banks in London 168k likely to be Director salary

smaller banks often don’t use this terminology

Sweetlily99 · 14/09/2023 20:52

What does he do in said bank. That's the key. 168k for a vp could be low or high with the same said for the year on year increase eg) revenue driven salary increase and bonus could be anything

A support role 2% increase per year?

Sweetlily99 · 14/09/2023 20:55

as prior poster said some banks use VP differently- see attached

To ask for specific salaries?
BodegaSushi · 14/09/2023 20:55

silentquery · 14/09/2023 20:46

Also I am from a vastly different profession so I apologise for not knowing anything.

Last ref I recall is syndicating the bank in a new country and organising compliance/ risk of the bank in a 3rd country

I don't understand half of these words, you're alright. Hope the fucker pays what he owes

Sweetlily99 · 14/09/2023 20:59

From your post donyou mean these were his jobs

Syndication- could be loads of money now as that's front office

Compliance / risk is a control function and 168k would be director salary and if that was 2018 add on 2-3 % a year ( some would be v flat due to covid etc)

Sexnotgender · 14/09/2023 21:02

I think Barclays use vice president, it’s really quite junior.

Curiosity101 · 14/09/2023 21:03

I know a large US bank where the UK business has VP as the second highest role. The head of the whole of the UK business is a Senior VP.

So it goes:
Senior VP
VP
Senior Director
Director

I would estimate VP salary as probably in the £160k + bonus range (not London). I wouldn't know what the bonus range would be but I think you could probably expect 20% minimum. So allowing for London maybe £200k 🤷

I'd go with what your estimate though. I'd be surprised if it was less.

Nomad916 · 14/09/2023 21:06

CMS has a ceiling, so beyond a certain amount of earning (I think it's 120/140k), the amount he has to pay for CMS remains the same.

Original poster
silentquery · 14/09/2023 21:06

Thanks all, useful. It's currently a large German bank 😬

I think Back Office.

Now to weigh up whether it's worth the time, effort and money to pursue the unpaid amount legally/ in court as UK CMS doesn't backdate (which seems criminal but there we go).

OP posts:
AnIndianWoman · 14/09/2023 21:09

Depends on the role. VPs in tech often earn 200k+

BarbaraofSeville · 14/09/2023 21:11

In what sort of crazy world does an employer call people who are 'quite junior' a 'vice president' and then pay them £168k five years ago Confused

GingerIsBest · 14/09/2023 21:11

So, 5 years ago, when you were together, he worked as a VP and his salary was the equivalent (different currency?) of £168k? I don't think even trading floor VPs would earn that as a base salary, although I could be wrong, so that sounds like total comp and you seem to think he was in compliance rather than middle office so that could be right.

Ifhe's now at Deutsche Bank, I'd expect that he'd have been promoted to director by now. From memory, I think that salaries have been increased significantly at DB, with corresponding lower bonuses. So he could well be on a basic salary of that, plus a bonus.

For CMS - will they take bonus into account or only basic salary?

I would 100% try to claim via CMS. They can get the money through payroll frankly. But I am not convinced that trying to get back pay through the courts will work - I've never heard of anyone having much luck with backdated CMS payments.

fairyfluf · 14/09/2023 21:13

silentquery · 14/09/2023 20:47

Aaarghh will have to delete as feel it's so specific.

Basically I earn low enough that I also get UC to top up. Person I'm posting about is father of my children and hasn't paid any maintenance for 2.5 years. Trying to use CMS to work out what should be paid in UK amounts but don't know his salary

Yeah that was obvious

randomusername2020 · 14/09/2023 21:14

This reply has been withdrawn

Removed at poster's request due to privacy concerns.

fairyfluf · 14/09/2023 21:14

P.S. your earnings will be irrelevant

Leinlondon · 14/09/2023 21:15

100% depends on the role. Have been in banking 20+ years and a VP in back office in one bank will be on £70k where a VP in markets front office will be on £300k + %bonus.

Worked for a German bank in London for years and it will vary massively depending on division, reporting lines etc