Re:It's Getting Harder to Tell Banks from Tech Companies
by joshuamorton on Thursday February 15, 2018 @07:21PM
(#16388963)
Oh I misunderstood the first time reading this comment. Bonus > salary pretty much never ever happens in Tech, until you're in an executive role.
It happens earlier in banks, but for most banks, it still happens at the level of Director (as opposed to Partner), not VP. I wasn't comparing comp structure to compare seniority. I was using comp structure to guess at seniority within the ladder of BB Banks and then comparing roles.
Re:It's Getting Harder to Tell Banks from Tech Companies
by jnordwick on Thursday February 15, 2018 @07:48PM
(#16389086)
It depends. In a back office role, you will have a more traditional salary plus 20% bonus. Infrastructure at a bank might be have a higher bonus component even at pres level.
On the trading desk, your bonus is often often open ended, or if you are doing strategy work then a percent of pnl.
Re:It's Getting Harder to Tell Banks from Tech Companies
by joshuamorton on Thursday February 15, 2018 @01:53PM
(#16386494)
Right, and my point is 300K all in is not more than senior comp at a FAANG.
The fact that bonus is 50+% of base is normal for those roles, more normal than faang comp. Compensation is just structured differently, so it isn't useful to use it as a measure of seniority between the two industries.