Different position in different companies, the social designation always varies.
The country head of IBM is called VP & GM
HSBC has a GM for this region
That doesnt mean the CEO designation is not equivalent to that job = it matters locally - equally and above.
In IT smaller the company, bigger the designation
I moved from a MNC in Bangalore to a small startup in Hyderabad, at two levels above, and was to become the CTO later.
Then I become the CEO of my own company Sharon Software Systems (My wife just with a DEEE was the Chairperson, gave very good presentations than me for the VC's), when I shut shop, I joined back as a PM only, to take the opportunity that came along, but I started paying the role of an Account Manager.
Even in the latest company, the designation might be looking simple, but it is equivalent to VP level of most of the small size IT co's. ( less than 300).
Most of my friends working abroad, have designation of Development Manager, thats it. But when they come to India, they can sure get a VP designation, should be the right fit, with the 15+ years of experience with onsite exposure. (but within the same company designation might be different). Also when I moved from USA, they just matched the designation, as SSA, which prompted me to quit in 6 months, while seeing 1 or 2 years juniors, at one level above...
Yardstick, the number of people handled, along with the social designation, with the right take home pay after taxes, plus the usual very good annual bonus and the best stock options are important.... I will discuss on compensation later on how to provide etc.
Sure, at times designation does matter....... (with the right pay)