2007-08-09 10:22:24 · 4 answers · asked by Deuce B 2 in Business & Finance ➔ Corporations
The answers already given are part of the answer. There are legal issues and there are perceptions of the customers. Banks have traditionally used VP's and Senior VP's and Executive VP's and on and on as titles. Whereas, in a "regular" company, you'd have the floor manager, the plant manater, the district manager, and then a VP and a Pres. The levels are all the same, it's just that at banking companies the names are more fancy. Don't let it throw you . . .
2007-08-09 14:26:32 · answer #1 · answered by djvcpa 2 · 0⤊ 0⤋
In order to transact business at certain levels you need to be a VP. Since that is most of what banks do everyone needs to be a VP.
2007-08-09 17:25:56 · answer #2 · answered by DonPedro 4 · 0⤊ 0⤋
Just so they feel good about their jobs and their status. And the bank thinks that customers are impressed when they deal with VPs.
2007-08-09 17:24:50 · answer #3 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
Because there are so many departments that all have leaders. For example, corporate loans, home loans, business banking, etc. They are all separate branches and have their pyramid of authority.
2007-08-09 17:24:53 · answer #4 · answered by drewdude320i 5 · 0⤊ 0⤋