Layoffs coming. Also some bs called harmony where peoples title gets knocked down a level or two.
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VP promotions, you can.
I left Oracle three years ago and now see many former colleagues moving into VP or Senior Director roles. The bar seems lower than a decade ago. Back then, an IC5 promotion required pitching to several VPs; Director → Senior Director often took 5–8 years of hard work; becoming VP could take around a decade for top performers. Today I’m seeing a average guy become regional VP of AI with only a bachelor’s degree, little to no AI experience, and limited overall sales experience (<3 years at Microsoft, and in fact later fired). Has the process changed, or are titles being inflated? Where is this going? Is this a talent development, I guess not...
Credential inflation is out of control
So many MDs have job postings on their teams for Director or below that require something like an MBA or CFA, yet these same MDs only have a bachelors. I realize this isn’t specific to BNY but as someone in that network I’ve been seeing so much of this lately. As a manager, I don’t care where you went to school - I’m looking at your experiences first and if you interview well and seem like you could fit in. I have an MBA but it hasn’t really been a driver in my career. I wonder how much hiring managers actually pay attention to this.
Title changes for salary compression.
The bank is now actively reclassifying lower roles to higher roles without any financial compensation. They are compressing wages down for the same or more work. Be mindful of your job role, your compensation range will go down.
This evil corporation expects us to work harder for no actual gain to ourselves?