4 ms·

Pardon my ignorance. What's MD in this context?

by hu3 5y ago

tyingq 5y ago
Probably "Managing Director".
deleted 5y ago
[deleted]
lordnacho 5y ago
Managing Director, it's a sort of middle management role that a lot of people aspire to. Running a team, getting paid fairly decently.
- MattPalmer1086 5y ago
  It does vary, but I wouldn't describe Managing Director as a team lead. In the UK it was often equivalent to CEO. It could be the head of a business unit.
  - iso1631 5y ago
    Yes, someone on the board that takes an active role in the company, or higher (The CEO)
    - decafninja 5y ago
      In the context of an investment bank (I’ve worked at both US and UK ones, though they are all multinationals really), MDs would really just be higher ranking middle managers. The highest ranked would be direct reports to the C level. Some are line of business or department heads. I know some traders were MDs despite being “individual contributors” and not desk heads, etc. Tech MDs, as with tech employees in general, we’re always lower in status than business ones. Probably the first level of title that is actually meaningful though. There are legions of “Vice Presidents” and “Directors” at investment banks. Whereas MDs are comparatively much rarer.
      - MattPalmer1086 5y ago
        Recognise the investment banking job title inflation! When a couple of people who used to work for me suddenly became Vice President, I congratulated them on their meteroic rise. Yeah, not so much they pointed out... :)
        decafninja 5y ago
        Similar thing happened to me when I was interviewing around. My resume and LinkedIn had my title as “Vice President”. It apparently intimidated more than one interviewer at the SV tech companies I Was targeting. I came to the conclusion the title hurt me more than helped, since I had no desire to remain in the finance industry. So I replaced it with just a generic “senior SWE” title.
- deleted 5y ago
  [deleted]
- rkk3 5y ago
  > it's a sort of middle management role that a lot of people aspire to. Running a team, getting paid fairly decently. really, 7 figures a year is "getting paid fairly decently" ? MD in IB is the equivalent of "partner" in consulting, law firms etc. But the IB companies all went public so there is no controlling "partnership". Like "partner" it's the highest rung in the hierarchy and the distinction between them comes down to what team/desk/department they run & additional executive titles.
  - deleted 5y ago
    [deleted]
  - decafninja 5y ago
    Does a tech MD at an investment bank really get a seven figure compensation? Pretty sure I’m making more as a FAANGMULA company vanilla senior SWE than my old bank department’s tech MD. I know I’m definitely making considerably more than was my old D(irector) who was one level down from MD (also since departed to a FAANGMULA company and now a personal friend). Now if we’re talking about a business side MD, especially a trader, then that’s a whole different story.
    - rkk3 5y ago
      > Does a tech MD at an investment bank really get a seven figure compensation? Some desks make more of less, but why wouldn't they? MD's at Goldman used to even have a minimum salary of 500k[1] and bonus is generally a multiple of that... I'm not sure what you mean specifically by "tech" but Quant Strat, HFT etc are extremely valuable. > Pretty sure I’m making more as a FAANGMULA company You very well could be, big tech has been on a tear for a decade so equity compensation is ridiculous. [1] https://archive.ph/H9eKK/again?url=https://www.wsj.com/articles/goldman-promotes-465-managing-directors-as-it-looks-to-regain-its-luster-11573758020 https://archive.ph/H9eKK/again?url=https://www.wsj.com/artic...
      - decafninja 5y ago
        I was referring to tech as in general SWEs doing line of business work, etc. which would account for the majority of SWEs at banks. I would put stuff like quants and HFT at a bank in a more rarified, elite, niche - perhaps on a tier similar to the elite hedge funds like Citadel. They’re not what I would think of first when describing “tech at a bank/finance” though. But definitely would agree their prestige and compensation is much higher.
sgslo 5y ago
Managing Director

Pardon my ignorance. What's MD in this context?

by hu3 5y ago

Pardon my ignorance. What's MD in this context?

tyingq 5y ago

Probably "Managing Director".

deleted 5y ago

[deleted]

lordnacho 5y ago

Managing Director, it's a sort of middle management role that a lot of people aspire to. Running a team, getting paid fairly decently.

MattPalmer1086 5y ago
It does vary, but I wouldn't describe Managing Director as a team lead. In the UK it was often equivalent to CEO. It could be the head of a business unit.
- iso1631 5y ago
  Yes, someone on the board that takes an active role in the company, or higher (The CEO)
  - decafninja 5y ago
    In the context of an investment bank (I’ve worked at both US and UK ones, though they are all multinationals really), MDs would really just be higher ranking middle managers. The highest ranked would be direct reports to the C level. Some are line of business or department heads. I know some traders were MDs despite being “individual contributors” and not desk heads, etc. Tech MDs, as with tech employees in general, we’re always lower in status than business ones. Probably the first level of title that is actually meaningful though. There are legions of “Vice Presidents” and “Directors” at investment banks. Whereas MDs are comparatively much rarer.
    - MattPalmer1086 5y ago
      Recognise the investment banking job title inflation! When a couple of people who used to work for me suddenly became Vice President, I congratulated them on their meteroic rise. Yeah, not so much they pointed out... :)
      - decafninja 5y ago
        Similar thing happened to me when I was interviewing around. My resume and LinkedIn had my title as “Vice President”. It apparently intimidated more than one interviewer at the SV tech companies I Was targeting. I came to the conclusion the title hurt me more than helped, since I had no desire to remain in the finance industry. So I replaced it with just a generic “senior SWE” title.
deleted 5y ago
[deleted]
rkk3 5y ago
> it's a sort of middle management role that a lot of people aspire to. Running a team, getting paid fairly decently. really, 7 figures a year is "getting paid fairly decently" ? MD in IB is the equivalent of "partner" in consulting, law firms etc. But the IB companies all went public so there is no controlling "partnership". Like "partner" it's the highest rung in the hierarchy and the distinction between them comes down to what team/desk/department they run & additional executive titles.
- deleted 5y ago
  [deleted]
- decafninja 5y ago
  Does a tech MD at an investment bank really get a seven figure compensation? Pretty sure I’m making more as a FAANGMULA company vanilla senior SWE than my old bank department’s tech MD. I know I’m definitely making considerably more than was my old D(irector) who was one level down from MD (also since departed to a FAANGMULA company and now a personal friend). Now if we’re talking about a business side MD, especially a trader, then that’s a whole different story.
  - rkk3 5y ago
    > Does a tech MD at an investment bank really get a seven figure compensation? Some desks make more of less, but why wouldn't they? MD's at Goldman used to even have a minimum salary of 500k[1] and bonus is generally a multiple of that... I'm not sure what you mean specifically by "tech" but Quant Strat, HFT etc are extremely valuable. > Pretty sure I’m making more as a FAANGMULA company You very well could be, big tech has been on a tear for a decade so equity compensation is ridiculous. [1] https://archive.ph/H9eKK/again?url=https://www.wsj.com/articles/goldman-promotes-465-managing-directors-as-it-looks-to-regain-its-luster-11573758020 https://archive.ph/H9eKK/again?url=https://www.wsj.com/artic...
    - decafninja 5y ago
      I was referring to tech as in general SWEs doing line of business work, etc. which would account for the majority of SWEs at banks. I would put stuff like quants and HFT at a bank in a more rarified, elite, niche - perhaps on a tier similar to the elite hedge funds like Citadel. They’re not what I would think of first when describing “tech at a bank/finance” though. But definitely would agree their prestige and compensation is much higher.

sgslo 5y ago

Managing Director