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Anyone work in JPM/GS/Morgan Stanley back office before?

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  #331 (permalink)  
Old 20-11-2023, 10:15 PM
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May I check which middle office function is the best to progress in, or is all the pay generally the same?

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  #332 (permalink)  
Old 20-11-2023, 10:38 PM
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May I check which middle office function is the best to progress in, or is all the pay generally the same?
Generally the same. The difference won't make much of a, er, difference. Also, these 3 banks don't really have much differentiation between MO/BO too. You are just "not FO".

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  #333 (permalink)  
Old 20-11-2023, 11:00 PM
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How's the average working hours for back office?

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  #334 (permalink)  
Old 20-11-2023, 11:19 PM
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That canít be true? JPM fastest track to VP can be 5.5 years (from grad program) and the base is already 10k or slightly north of 10k.
Generally you can reach VP at GS and JPM around the same pace - high flyers will take about 5-6 years. But don't expect much in terms of salary for junior VP, like the previous poster said, 8-10k is about there. The range of VP is very wide which is also why you hear of VPs earning 20k. The salary band for VP is extremely wide.
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  #335 (permalink)  
Old 20-11-2023, 11:20 PM
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How's the average working hours for back office?
Depends on your team. GS back office works obnoxious hours, clocking 12 hours daily is quite a norm at analyst/associate level.
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  #336 (permalink)  
Old 20-11-2023, 11:51 PM
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Does bonus percentage increase if u hit VP?
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  #337 (permalink)  
Old 21-11-2023, 12:23 AM
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Does bonus percentage increase if u hit VP?
Performance based. Not tenure. But your base increases, so the same percentage is still a larger amount
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  #338 (permalink)  
Old 21-11-2023, 09:08 AM
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Generally you can reach VP at GS and JPM around the same pace - high flyers will take about 5-6 years. But don't expect much in terms of salary for junior VP, like the previous poster said, 8-10k is about there. The range of VP is very wide which is also why you hear of VPs earning 20k. The salary band for VP is extremely wide.
not familiar with GS. But for JPM at least, their ranks include associate, senior associates and then VPs. Their Senior Associates is equivalent to an AVP / AD in other banks and base should be from 7-12k? Surprised that VP in JPM can go down to 8-10k?
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  #339 (permalink)  
Old 21-11-2023, 10:02 AM
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not familiar with GS. But for JPM at least, their ranks include associate, senior associates and then VPs. Their Senior Associates is equivalent to an AVP / AD in other banks and base should be from 7-12k? Surprised that VP in JPM can go down to 8-10k?
As highlighted by someone previously, salary bands are not hard cut offs. There are overlaps across ranks at lower levels
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  #340 (permalink)  
Old 21-11-2023, 09:27 PM
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Sure. The concept of AWS does not exist for a lot of American companies, including the banks as mentioned in this conversation. Can't say for everyone, but from an MO/BO perspective, I *feel* (based on experience and asking my colleagues) bonuses are more of a absolute number rather than as a % of your salary (at least at the junior level). For analysts and associates, it tends to hover around 10-15k for average performers; lower for poor performers (all the way till 0), higher for poor performers (20-25k).

Not a VP yet (hoping to get it in the coming year or next), hence can't provide much info for that. VP/ED salaries have a larger salary band as compared to the junior level, so I'd imagine the bonus range to be wider; probably 20k upwards. "% of bonus" probably becomes a larger factor as well; can't imagine a very senior VP to be only getting 10-15k. He would be pissed lol
Can anyone confirm that average analyst can get 10k bonus? Seems in contrast to the 0.5months that I see being discussed in the thread
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