In some industries you can be a supervisor with 100 reports. Job titles are so asynchronized even in similar types of companies that they’re virtually meaningless without company specific context.
That and it feels good to some employees to get that title even if it doesn’t come with any extra benefits or better pay. A cheap way for companies to not properly compensate their employees but keep some employees. Though from an employee standpoint, seems the only people who stay are those with inflated egos who boss everyone else around.
Some people like being able to tell their friends they’re a vice president even if there’s nothing behind it. Also helps pad their resume until this becomes common knowledge and no one takes a Goldman Sachs employee resume seriously.
It is so customers can feel good about working with a VP for their personalized service.
Hierarchy theater.
Always remember to ask a VP “how many people report to you?” If they say none, then they aren’t a VP just sparkling wage slave.
I had 100 people reporting to me as a VP in a global bank. It’s still nothing. It’s all about relative size.
100 people in a company of 1000? Real VP.
100 people out of 100k? Middle manager.
How do you manage having 100 reports? It sounds like a ton of work. I don’t know what working in a bank is like though.
Layers. I managed managers of managers of people
In some industries you can be a supervisor with 100 reports. Job titles are so asynchronized even in similar types of companies that they’re virtually meaningless without company specific context.
That and it feels good to some employees to get that title even if it doesn’t come with any extra benefits or better pay. A cheap way for companies to not properly compensate their employees but keep some employees. Though from an employee standpoint, seems the only people who stay are those with inflated egos who boss everyone else around.
Some people like being able to tell their friends they’re a vice president even if there’s nothing behind it. Also helps pad their resume until this becomes common knowledge and no one takes a Goldman Sachs employee resume seriously.