Time for deflation? Yes of course for the inflated job titles in the Investment banking arena, is finally a new bubble bursting? Goldman Sachs Just Says ‘Vice President’ to Be Polite
Goldman’s theory, on the other hand, is that “vice president” is a “courtesy title” handed out to roughly one-third of its employees, and of course they’re not all officers
There are thousands of them, and they are called that mainly to reassure clients that the awfully young-looking person running their merger is a senior executive and global head of something or other, and can therefore be trusted to make important decisions with no adult supervision
Global (or U.S., or European, or …) head of something or other is an even more abused title than vice president. At this point people have mostly figured out that there are a lot of VPs, but the benefits of the global-head title are that:
It is unique, in the sense that there can be only one global head of any particular thing,
It is infinitely expandable, in the sense that there are unlimited things to be global head of, and
It is entirely informal and can be made up on the spot.
So, well…….time for deflation indeed