I joined the bank as a VP in February last year. Yesterday, I received a 18% bonus, but my salary increase is only 2%, which I find a bit disappointing. Is this compensation structure standard for the bank?
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VP here - 3% raise and 5% bonus. They are not even willing to map the salary range of all VPs in a team. Pathetic, and discriminating.
They keep all your pays low so more money to the big man. That’s where your supposed pay increases went to…
https://www.bloomberg.com/news/articles/2025-01-23/jpmorgan-boosts-dimon-s-pay-to-39-million-amid-record-profit
Why are the bonus and raise policies in this company so unclear? There's not even clarity on the percentage!
I am 602 and only got a $2K bonus and 2% raise. Even at an average performance (triple Os) I am clearly being compensated unfairly. They have given me $2K bonus for 4 years straight even though my performance has consistently improved each year and I take on increasing responsibilities.
And vps make atleast 150 atleast in Delaware?
It's all bologna. There's no official formula. I've seen 602's and 603's who have had between a 1500 bonus to 25k. Same team, same roles, no significant difference in performance. And they tend to keep fairly flat YoY.
My situation is the opposite of yours. I received a 9% raise this year, but my bonus is only 7%. I am 603 in tech.
So you got 18% bonus and you're still upset?
Well get settled in for disappointment then, cuz you have very high expectations.
it is the times man dont be greddy
OP
Your Bonus looks very good. I am guessing your salary might be high as compared others in Org or your Org is not performing good in business. Which LOB you are from?
10% bonus on a VP title is peanut. 602 get more than 10% in many groups.
Do you work for CCB?
I joined in late 2023, got a 7% bonus this year and was told that was high compared to what they normally give in my org. This company su-ks.
I joined in April 2024 as VP and got 10% bonus with no salary raise
I think your salary increase will go up next year with good performance review.