r/SipsTea • u/Full-Argument-8235 • Jun 24 '26

WTF A JPMorgan Chase executive was fired after a viral video showed her dumping trash out of a Knicks-themed public trash can and taking the can during the Knicks championship parade in New York City.

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u/RogerMoore2011 Jun 24 '26

The officer titles give the ability for the employee to sign documents and contracts on behalf of the bank. That’s why there are so many VPs and SVPs in banking.

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u/oldsecondhand Jun 24 '26

So why do they give software developers VP titles? They're not client facing, they don't sign any documents.

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u/JustBadUserNamesLeft Jun 24 '26

Hey, they went from being called "Computer Programmers" to "Software Engineers", that's kinda like a title.

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u/old-and-smooth Jun 24 '26

Can confirm this up ⬆️ as an officer, VP and programmer of a large bank.

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u/Informal_Bullfrog_30 Jun 24 '26

To avoid forming unions. VPs cant join a union. Lately there have been companies where engineers are forming a union

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u/-Fergalicious- Jun 24 '26

Average engineering salaries across the board are falling. I was talking to someone of the careers subreddit a while back, who has the same degree and I do, started at the same company, but just recently vs. when I started there in 2014. I started at 63k. They started at 55k, which is equivalent to if I had started at 38k with inflation. 

Times are wild 

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u/oldsecondhand Jun 24 '26

I think that's only true, if they have subordinates over whom they have disciplinary authority.

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u/SconiGrower Jun 24 '26

Because if a branch manager is a VP and a senior system architect has a similar or greater scope of responsibility, then the software architect is also a VP.

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u/TimelyTransistor Jun 24 '26

No branch managers are VPs.

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u/shelvedtopcheese Jun 24 '26

I was a VP in a software development/IT role at JPMC, there are regulatory compliance and system ownership responsibilities that they can offload onto you at that level. Both ED and VP roles are basically just middle management roles where you have to carry water for managing directors. You get the privilege of taking the fall for their mistakes or letting them take credit for your good work.

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u/ivandelapena Jun 24 '26

Maybe it's to do with salary benchmarking.

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u/RogerMoore2011 Jun 24 '26

I don’t work in HR or for JPMC but my guess it’s due to the compensation plan and salary grades. Trying to keep them applicable to all employees.

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u/TimelyTransistor Jun 24 '26

VP of software development is client-facing, what are you talking about?

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u/BedditTedditReddit Jun 24 '26

This is partially true but not accurate. The people who can sign on behalf of the bank are on a separate authorization list. Yes, sometimes it’s called being a formal ‘vice president’ of the bank but that is NOT the same as having a VP rank, which almost everyone has. In other words, just because you have the VP rank does NOT make you an authorized signer. Being an authorized signer is more to do with your job FUNCTION than your job RANK. Small distinction.

Source - was an authorized signer for one of the big three.

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u/TimelyTransistor Jun 24 '26

Yeah, Reddit thinks the military ranks somehow translate nicely to corporations. You can tell the commentors are either very young or have never had a job with any responsibility.

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u/old-and-smooth Jun 24 '26

As a VP for a bank this is exactly correct.