my offer earlier this year, sharing for the data pool:
Role: Senior Software Engineer (VP level internally, which is mid-senior at a bank, don't be impressed by the title) Location: NYC, hybrid 3 days Base: $155k Bonus target: 15% of base (so ~$23k, discretionary, paid annually, not guaranteed) RSU/equity: none. it's a bank. 401k match: 4%, decent vesting schedule Total: roughly $178k at target. real TC is base + whatever discretionary bonus actually lands.
For context: 7 YOE, backend heavy, fintech adjacent background. they leveled me into their "VP" band which is roughly equivalent to L5 at big tech companies. the TC is below big tech L5 NYC by a meaningful gap but the interview loop was shorter, the process was more human, and the work itself is actually interesting if you care about financial infrastructure.
negotiated base up from $145k to $155k. they had room. ask.
6 replies
contractor_kai
the VP title thing is real and confusing to people who haven't dealt with banks before. at Goldman it's even more compressed. just translate: bank VP = tech industry senior IC, roughly. don't let the title influence your comp negotiation either way.
market_realist
$155k base in NYC for 7 YOE is decent but not exciting. curious what the bonus actually paid out vs the 15% target. banks are notorious for paying 60-70% of target in an average year.
numbers_only
haven't hit my first annual cycle yet so I can't report actual payout. will update. my read from talking to people already there is to model 80-100% of target in a decent year, lower in a downcycle. it's not as grim as hedge fund bonus roulette.
hardware_hugo
the no-equity part is always the real thing people gloss over. that $23k bonus at target is your entire variable comp. if you're used to RSUs vesting in the background, switching to a bank is a lifestyle adjustment in the spreadsheet.
firsttime_mgr
what was your sense of growth trajectory there? I'm considering a move from a startup into financial services and wondering if the compensation ceiling is the ceiling or if there's a path to significantly more.
numbers_only
ceiling is real but it moves up if you move into management or into a quant-adjacent role. pure IC path in a bank tops out lower than big tech. that's just the math. you go for the stability, the work, or the resume signal, not the TC ceiling.