Does anyone have current info? Glassdoor.com has such a wide range.
Starting Salaries
No Staff $$?
With Staff $$?
23 replies (most recent on top)
I am a VP that was just hired in 3rd quarter of 2018. My base is $220k a year, plus bonus and a nice stock option plan. I left another job making a little more but I had to travel 50% of the time, so I am much happier at State Street where I have a nice office and no travel.
Hope this helps.
@Post ID: @Xqcia14-1uzth
Lol you were laid off like the many other AVP, VP and SVP, you are the real fat they should have cut instead of the low to mid level workers.
When I was a VP in Boston in 2017, I made a base of $210k plus bonus. My annual income after stock options, bonus and base salary was just over $300k. That was in 2017 and I left for a better company.
Days of fat salaries are over.
I remember back in the 1980's they had a grade range chart with a range of 1 to 17.
It would show the minimum , medium and max salary range for each grade.
A silly mgr by accident left the sheet out for everyone to see.
The max pay for a grade 17 was $60,000.
But then around the early 2000's they did a reorg of the grades which used a very complex formula.
I understand there are 3 band levels for VPs: 600, 620 and 640. Each band has a salary range. STT won't tell you what the ranges are, but from inference based on AVP ranges that I have visibility into, I could hazard a guess that the ranges would be around 110-150 for band 600, 120-165 for band 620 and 130-175 for band 640. These are guesstimates, but hope that helps.
It all depends on what side of the business job are on. That said- the impact of the bonus cuts will be felt forever unless you leave. I’m not sure how anyone stays given the poor leadership, pay, and constant layoffs and reorgs. It truly is SESAME STREET
100K is the new 2019 minimum in boston for VP - no staff
all you fools....look at the h1b data for state street..you guys are all getting screwed. AVP @ 80K? Even Lean Practitioner Leader makes closer to 128k...just go home and cry...
thanks to the folks who actually posted salaries.
21.5% bonus with a 5 PPR (warranting my promotion) on a $93k AVP salary is not that ridiculous. If I was a career “3” like you are I can see how you might think this was not achievable even at SSC.
I’m calling your bluff as an AVP you made 20k as a bonus
@Post ID: @Xqcia14-1oay
I was there during a period were for 3 years they did not give out raises or bonuses.
Your living in the past when they gave out yearly raises of 3% to 5% and good bonuses
Like I said if your so uphappy leave find a new job
Did you read my original post?? I’m complaining about my bonus being down 35% from last year in a year I was promoted (reasonable assumption of a higher bonus.). I would have been content with a flat bonus. Do you not understand the compounding impact on someone’s career a decrease like this has? If the company and I have a good year and next years bonus is up 20% from this year’s, you will tell me I should bend over and say thank you when in fact that 20% on this year’s bonus gets me no where near last year’s bonus. Look at the longer term impacts.
@Post ID: @Xqcia14-1xjg
Poor baby the truth hurts , once again your complaining about getting promotions.
Just quit the company then and find another company.
People are scared about being laid off and your complaining about getting promotions and more $$$$
Once again companies will always pay and have paid outside hires more money than inhouse staff
Live with it and stop playing victim
My promotions were earned. From 2013 to 2018 I am was promoted to Officer, AVP and now VP because I work extremely hard and am dedicated to my job. Many of the people laid off have been VPs for 30 years and just looking to play out the back 9. If I am a VP in 30 years I will be more than disappointed in myself. It is the people like you who are “happy to hide under your desk and are thankful to just have a job” that have led to the downturn in America.
@Post ID: @Xqcia14-1cqo
Do you know how stupid your post sounds ? You complaining because your getting promoted from within SST (lol) Thousands of workers have been laid off and you complain about getting a promotion (lol) I know workers who would have taken a pay cut of 20% just to keep their job at SST.
Companies have always used the excuse we have to pay more to hire outside help because of the shortage of qualified workers (lol) I gone through that bull for over 30 years when a few of the new workers being young and stupid would actually spill their salarly (no common sense)
Officer $65k
AVP $80k
VP $115k
As of early 2018.
I was promoted to VP last April and am only making $115k + $13k bonus (down 35% from my AVP salary, not what it should have been based on the new VP salary). I have 2 direct reports and 22 direct/indirect staff. Needless to say I’m getting screwed because I continue to get promoted in house which saves SSC tremendously tgan going to the open market.
@Xqcia14-kkr In my opinion earning only $150,000 per year is not a reasonable salary considering the responsibilities that you have. In addition the cost of living in Massachusetts or New York is very expensive so you would expect to earn more than that. You would be better off becoming a certified financial analyst, trader or stockbroker.
yeah, making over $250k as a VP is long gone. Whoever got that kind of pay was first in line to get the boot. Now they can hire much younger and pay $125k for same job/title and the younger onces will take it.
I should note, after I left STT, I had to take a pay cut. I'm still a VP, but only make $177k a year and less bonus, no stock options. The days of making $255k as a VP doing a 9-5 job and not sweating much are over.
I was a VP and made $215K base salary plus stock options and bonus, total compensation per year was $255k. I was there 7 years and raises were around 4-5%. Hope this helps.
VP start at $150K per year