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Why people in the financial industries get VP, AVP and Director title so quick?

I am an Engineer and I was in New York City on a project for 6 month. What I noticed in the banking industries people get promotions so fast. In Engineering industries Vice Presidents and Directors usually have over 15 years of industry experience. In financial industries seems like everyone get the Director and Vice President title after 3 years of experience. In NYC I met people that had only 3 years of experience and had those titles with salaries over $120,000. It made me think that I made the wrong choice by being an Engineer... Engineers dont make any money :-(

Asked By: Mj - 11/24/2012
Best Answer - Chosen by Asker
Industries vary widely in salaries they offer and experience they require... More
Answered By: C7S - 11/26/2012
Additional Answers (1)
In some financial institutions, they have tons of people with high sounding titles. Probably so customers feel they're dealing with someone high up. How do you know they're making that much? Plus, you know, salaries in NYC are considerably higher than most places, since the cost of living is so high. See what an... More
Answered By: Judy - 11/24/2012
 
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