400k without stock is peanuts z Google pays their software engineers more.

Anonymous wrote:Wow that is insane!

I work for a "not for profit" www.companyx.org organization with 5,000 employees where the CEO is making 4.3M in salary. A VP there makes 400K in salary and 100K in annual bonus. Navy Credit Union has 24,000 employees so 400K at the VP level is severely underpaid, IMHO.

Did that $400 include their bonus? It pays out well but is in no way guaranteed. They also quote total comp and include things like gym access

Anonymous wrote:OP but surprising they pay so much as a non profit member owned company.

Other credit unions pay like a non profit. Navy pays like it is JPMorgan.

NFCU is “not for profit” not a nonprofit. It’s more than semantics. It’s an actusl distinction.

Since they can’t make a profit, the more money they make every year they put back into their employees and other expenses.

They are growing and have been hiring a lot of remote employees - in states that are. It near their offices, like NY, Chicago, and charlotte. I think they’re growing and theirs a lot of “banking” talent in those areas. These would be 100% remote and nonmember facing roles. Others who are local go in once per week. If you are local and as high as a VP you’d be expected to go into the office 2 to 3 days a week but I think that depends on the team though.

They need to get good executives in the door.
A recruiter set me up to meet with them before (was a manager at that time), they saw that I was a minority woman and only wanted me to interview quant jobs lol

Anonymous wrote:I guess it depends on the specific team. I interviewed for a job in AML and the salary wasn’t that competitive

Agreed. I am currently employed at a company in the south and they weren't willing to offer me more than $20k over my current salary. I'd still be making under six figures, which is pennies in the DC area. They do offer a pension which is nice, but I'm not looking to decrease my quality of living.

I guess it depends on the specific team. I interviewed for a job in AML and the salary wasn’t that competitive

Anonymous wrote:is that 400k base does it include stocks or bonuses?

Credit Unions do not have stock. Bonuses are likely, but would be cash.

Wow that is insane!

is that 400k base does it include stocks or bonuses?

OP but surprising they pay so much as a non profit member owned company.

Other credit unions pay like a non profit. Navy pays like it is JPMorgan.

World’s largest Credit Union, with locations around the globe at various military bases in addition to the USA. Some parts of NFCU are more like a big bank than a classic small town credit union.

Shhhh! Delete this. Get yourself in first

400K for a VP level position at a financial institution is not that much.

But, to answer your question, Navy FCU is huge -- over three times as big as the next largest CU (https://www.mx.com/blog/biggest-us-credit-unions-by-asset-size/). If they were a bank, I think they'd be in the top 25 by assets.

I went in a job interview there a few months back (did not get) and know people who work there.

I was kinda surprised the VP role paid almost $400k all in. And at time only one day a week in office.

Normally Credit Unions don’t pay well. But they are paying people big.

Why?