hmmm, i don't think so..
i am from cimb, exec level, salary >4k.

AVP is 3 levels higher than me..

i am from investment.
director is above avp.

I know this topic is a bit old but let me share my experience.
I would agree.
Internal Ranking they call it VP or AVP but it is actually equivalent to Director and Associate Director.

AVP rank is higher than Manager. Don't ask me why. I am confused as fish as to what AVP is.

meaning i still don't know what is Avp. It may be closer to the top and the benefits are slightly better with each rank...

I still don't know what the fish is this Avp rank all about.

I was a Manager before this... and then when they offered me the post of Avp and i was like... hmmm? am i settling for something less or better?

Well the salary was definitely more... more salary but less responsibility, bring it. 

In my opinion... This Avp rank is like... neither here or there. It's between Manager and Head of Department.

Half of the people in this forum can't give a straight answer what it is. Some say lower, some say higher.

I was a former staff of CIMB Investment Bank (KL sentral). You could PM me if you need any advice.

All i could say is that the level of politics is pretty high there