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Is that some sort of non-profit?
(lemmy.world)
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this post was submitted on 15 May 2024
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Oh, Goldman also does the weirdly inflated titles game like Morgan Stanley?
They call everyone a VP so idiot customers can brag about how some important guy gave them investment advice. It's a scam to fool the gullible.
I think originally it came from banking regulations requiring high level approval before someone could do risky shit. So now everyone is a VP
So, it was a legal loophole? That's kinda even more shady lol
Most financial institutions do, even down to local banks.
Real estate people too. If you're not a VP in real estate, you don't really exist. I've met guys with a VP title who are like 23 years old and not even done their mbas. It just makes everyone look stupid.
From my experience working as an IT freelancer in the industry (so I've worked in a number of places), they all do that in Finance.