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hurtfullobster t1_jc6ocnv wrote

Ok Reddit, time for some banking education. In the majority of banks, role structure works as below;

Directors - In charge of broad functional areas, what you would call ‘executives’ in general public terms.

Manager - In charge of specific departments. In my experience is what you would call directors and VPs in other industries.

VP - Salaried employees and low to mid level managers.

Associate - Hourly employees.

You’ll get variations depending on the bank, most commonly having the high end of one category in the low pay range of the bucket above it (example - high end departments lead may be a director without a C-level designation depend on the number of people under them). Most large banks more or less follow this layout. So as others have pointed out, this not a $60k job. This in a minimum 10+ years of managing in financial crimes to be seriously considered level, $200k + large bonus level job.

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atascon t1_jc7itsr wrote

Associates are not usually hourly employees “in the majority of banks.” At least not in the revenue-generating parts of banks.

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