Post ID: @3ocn+1rZmrbMu Of course corporate titles did Not cause Bear Stearns' demise. The Poster was being sarcastic. Bear's matrixed and complicated structure along with its multi-layered corporate titles Did, however contribute to its demise.
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Only a fool would insinuate that corporate titles had anything to do with Bear Stearns’s demise.
Lehman also failed, and Citi was a “zombie” bank then.
Post ID: @2gvx+1rXST0DJ Just like Bear Stearns (now deceased and acquired by JPMChase), Citi is matrixed and multi-layered. We all know how that worked out for Bear Stearns. LOL! Just like Bear, Citi believes in having multi-layer titles like KING KING or Senior MD. SVP is Super VP, same as VP just Super-duper. Pathetically Dvmb, Dense and Braindead Citi. by Anonymous Post ID: @2ylj+1rXST0DJ
Post ID: @wqw+1rXST0DJ I Never understood Citi's need for additional titles, layers and a matrix environment. If Citi were to look at best practices of the Competitors it envies years if not decades ago ( Citi does Not look at best practices to learn from its envied Competitors ! ), Citi would have seen that JPM Chase, GS, Morgan etc. do Not have the SVP and AVP levels: Analyst, Associate, VP, Director, MD. Employees can be VP, D or ED for several years before reaching MD if they even get to MD at all, because of the flatter structure. In Seat promotions are also possible and easier compared to Citi. But as others have already pointed out, Citi wants to make its life more complicated than it needs to be and does Not want to be saved. Citi wants to sink faster than the Titanic. LOL! by Anonymous Post ID: @dkm+1rXST0DJ
The problem is the payscale. Citi is fixated on you have to have a a title of “x” in order to all in between the pay range of $90K to 150K, or whatever the he-l it is.
Get away from “you have to have a title in order to make ‘x’ “. I could careless what my title is so long as my pay remains the same. Get rid of the titles, just wipe them away.
You can give me the label of engineer and keep my pay the same and I’m good.
It’ll never happen though because Citi is stupid and they think stupid. Has anyone ever known Citi to do what makes sense? or simplify things? of course not.
“Well Citi is simplifying things right now”, are they? Are they really? How’s that working out for you? Citi is so stupid that they’ve over complicated making things simple, therefore it doesn’t happen. For God’s sake, they can’t even communicate what they are trying to do much less how to get there and what the measurable success is.
Measurable success by the way according to Citi is whatever they can sell the populous as ‘the fix’, whether it truly is or not. There’s your forward thinking for you. Out of the box leadership, there it is right there spearheaded by Jane herself.
Why are there so many "VPs" at citi? Mostly worthless
Because SVP is a made-up title at Citi's back office to keep the pay low. Remove it and this would widen both VP and D pay bands and everyone will be happier.
SVP who not qualified or less favorited are demoted to IC. VP who worked for them will still work for them which is actually AVP, no longer own any projects.