Can anyone explain the various grades at banks (especially US banks) - i.e. VP, AVP, etc. What's the career structure? How do they relate to (for example) grades at a Big4 firm?Would I be right in thinking that AVP is a relatively junior grade (i.e. not a management position?)Thanks for your help.

Judging by most of the banks I've worked with, it seems that "Managing Director" is the job title given to all new joiners at graduate level, and "CEO" is the title given to people with 2-4 years experience. I'm not sure what titles they give to people with more than 4 years experience, but imagine it would be something like "Chief Supremo" or "Your Excellency".I think the situation is worse at American banks. Unless your job title contains the phrase "Senior Vice President of..." then you're probably the toilet cleaner. And even he/she is probably the "President of Facilities Management" or something like that.

RoughlyAnalystAssociateVPManaging DirectorHead of/Executive DirectorYou cannot really compare the management structure of a bank with a consulting firm - banks processes etc are very linear

list above is typical but varies by bank - for example at UBS, ED is lower than MD. Also the ease of attaining some of those titles varies significantly across banks and with the type of role - so if you are in a revenue role, you are likely to make MD earlier than in a support role, as it is seen as assisting you in the market. there's also a distinction between ranks and titles of course - you might have a bumptious title but still have an AVP internal grade....

Well I was trying to be as generic as possible Bilium, but thanks for the clarification - useful!I think WharfRat is missing the point though: consultants seem to be obsessed with title/grade, bankers dont really care - its all about the money and nothing but the money. that is what really reflects your status regardless of title/grade in a bank.

Thanks all for the comments above, very helpful and I have a reasonable idea now of the career structure.I don't particularly care about title or grade, but I do care about the level of responsibility, authority and independence that I have, and I'm not entirely indifferent to the amount of money I make.