You have to work hard to be promoted no matter which industry you are. A manager in other industry works even harder.
Depends on scope and aread of function,I do see head of sth who is a AVP with just two team members.I am referring to head of department such as Head of Treasury Advisory, Head of Market Risk Management etc with a slightly bigger team. That requires the rank to be VP above. That will I might be wrong, but just to share.
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