Wednesday, October 31, 2012

Move over Joe Biden...

So I told my daughter that my new job comes with a Vice President title. And she said "everybody's a Vice President."

Thanks for your support!

But apparently it's true.

MSNBC has a news video called "Title Wave - Everyone's a Vice President." The video points to a 22-year-old Japanese female and recent college graduate, who is a vice-president of HR operations at a US software company (TopCoder). Donald Trump actually says in the video that he gives away vice-president titles in lieu of salary increases to retain top talent. 
When I first looked into the "facebook" of classmates of my MBA program, I was stunned to find that perhaps half or more of my classmates have VP titles or equivalent or better. I soon learned about the phenomena of title inflation, especially in the finance industry, where investment bankers two years out of college are commonly handed a VP title. The video above states that Goldman Sachs has 6,500 vice-presidents; in fairness, these junior VPs often have salaries exceeding those of genuine vice-presidents in other industries.

More at the link.

Now I have a confession - although I rarely like older men, I think Joe Biden is kind of cute.