I keep hearing news that the useless "SVPs" are now getting hit. Let's keep up that momentum until they are all ou of there!
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@w6 this thing is just a miserable cretin who has been posted this same slot for over a year. Needs to find happiness in his pathetic life.
This thread proves people will argue about anything. Who cares the title and what it means, the point is will the new CEO trim out these useless levels of management.
Agree that VP and SVP titles have nothing to do with salary grade. You can’t assume that either of those titles means a high salary grade. In technology a few years ago the CTO made all 110-112 a VP and all 113 a SVP. It literally means nothing other than being able to put it on your email signature.
Titles are not very meaningful. When you think SVP, what grade do you equate that with? I know SVPs who are in grade 112 roles and others who are 116+ and that is a gigantic difference in responsibilities and comp....in my opinion the latter are worried about all of the JPM/BoA/WF "talent" being brought in at senior levels.
@MM WRONG 😑 It may not increase your paycheck, but having an SVP banking title strengthens your severance payout. Combined with your pay grade and 16 years of service, some people receive at least a full year of salary plus extended benefits. If you know, you know. 🥴
@mm well it does equate to job grade so there is that.
I love how people actually think VP, SVP, etc actually mean something. It literally means nothing other than it being on your signature
I am thinking the SEVP and EVP levels are the ones most scared right now, as they should. New CEO will bring in his people and get the board on his side by saying these heritage execs are all the problem.
I chuckle at this because how many times have us peons been nervous about our jobs through the multitude of RIFs and they just laughed collecting their millions.
@ba I also have experienced the undoing of project star is in my org. Feels like a wells or JPM layer has been inserted. Of course this layer doesn’t do squat. Except being overpaid for underworking.
I would throw a party if this was actually true. Project Star was supposed to eliminate "spans and layers" but since then my team had an additional layer added. Make that make sense?
How about regular VPs with the Senior Manager title? Can they also clean house there?
The time wasted decorating and filling the office up with balloons is out of control and I don't see their manager stopping this behavior.
I hope an SVP on my team gets shown the door. I can only hope it’s true. There are plenty of Managing Directors in audit that should be given the boot too.
Lot of MD’s should be gone also. The number of Suntrust flunkies promoted in the year following merger was ridiculous. No I’m not a HBBT who was mad about it.
Not being a svp I say hunt them down like bunnies