Associate - frequency of promotion?
I am trying to figure out promotions (or whatever they may be called in IB world - moving up a level simply) and how fast it takes to move up.
If you start as an Associate, do you automatically move up each calendar year and become a VP after the third year? Is it that automatic? Or is it based on accomplishments? Can it be done quicker? Etc.
Also, does this differ at smaller firms? Finally, where do IB professionals tend to stall out? Is it when they are trying to make MD?
Thanks
at UBS, there is a pretty strict system by which you can't be promoted beyond a certain rank if you haven't put in the years. that said, i doesn't make promotion automatic. that is, you could be up for promotion and be denied because the bank only has room for a certain number of promotions to director (vp) or whatever. typically accomplishments do factor in.
at a smaller firm it's very different. for example, my promotion to vp at my firm came relatively easily, but the threshold for svp is considerably more of a challenge. that said, every small firm is different from the next, so this may not be of any help to you. at my firm promotion is based on the amount of revenue you generate; if you ahve generated above a certain amount, you get promoted. however, with the promotion comes the expectaion that you will continue to generated business for the firm at that higher level.
skichick, you may be the only VP on this board. You're definitely balling.
Kudos to Skichick for making VP, but lets not kiss ass publicly. Send a PM if you want to kiss ass.
Thanks, Ex-GS
TheSquare and GhengisKhan are also VPs, I believe, but you're right: still a small number.
a lot of ppl stall out at vp. i know ppl who have gone vp to director/principal in 1 or 2 years though. once you hit vp, there aren't really hard and fast rules. i know a guy who became an md at 26 also. and i once knew a 21 yr old director but that was a special case obviously
that's a bit ridiculous. Must be the next Eric Mindich.
Lol I'm a 24 year old 3rd year analyst. I suck
yeah this is the trading side though, where it's less hierarchical
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