analyst topic

1. ??? (would like to know as well)
2. Typical bank hierarchy -- same titles, even (analyst -> associate -> VP -> ...)
3. ??? (if you plan on staying in technology, you definitely don't need an MBA)
4. Yes, technology is back office. BO is usually defined in one of two ways: 1) not client-facing; 2) support staff (not the firm's main business). Typically, BO hours are significantly lower than FO hours; as a technology analyst, you will make more per hour than pretty much everyone else at the same rank (though they'll be making more than you overall, mostly by virtue of working nearly double your hours)

Do you mind if I ask what your major is, and are you at a target or non-target?

You seem very uneducated about the finance industry in general so please do a search on this site. Also please don't call yourself a "technology analyst in banking". You're an IT guy working at an investment bank.

Also please don't call yourself a "technology analyst in banking". You're an IT guy working at an investment bank.

Sounds a little harsh but I've always wondered why they refer to themselves like that. It's confusing.

Everyone that works at IB calls themselves "analysts in banking". I know guys working in Operations at GS who call themselves 'bankers', or 'I work in I-banking'. I imagine IT guys are no different.

Something else in IT? It's back-office. That's not a bad thing, and if you're higher up you can make pretty good money, but it's a fundamentally different role than banking. You'd probably (I don't know your role) be better set-up to work at Google or something as a systems engineer than an investment banker at your current bank.

@SanityCheck You seem upset and why are you so concerned with what they say? At least concerned enough to call someone demeaning names. Some people just do not know so there is no need to assume what the OPs intention was or anyone else for that matter. Some do it on purpose, oh well. Either way, no need to get your panties in a bunch and start calling people uneducated and toolbags.

And no one has answered OPs question yet.

Think I gave a clear answer, but ok:

1. What are the exit opportunities like for technology analysts?

Doing other IT things, maybe MBA. Not buy-side, if that's what you're thinking.

2. What's the career progression like for a technology analyst in banking? (e.g., business analyst --> senior business analyst --> associate?)

It's not like banking where you're looking to do 2 years in IB, then try to go to buy-side, then go MBA. Think of this as a "regular" job with a less-fixed career progression.

4. Is it better to pursue an MBA after the 2-year rotation rather than going for some kind of promotion within the bank?

2 years isn't enough for a top MBA. I have no idea how well IT places at top MBAs anyway, but 2 years WE isn't usually enough even in IB.

5. Finally, is this program/role considered Back Office? I've heard a lot of bad things about back office -- is it really that bad? (e.g., pay, work, etc...).

Yes. It's not "bad," but it's NOT INVESTMENT BANKING. If you want to do investment banking, you should do something in finance, not IT. That being said, your job will give you good networking opportunities if you push hard for it.

I know several people who got into M7 MBA, coming out of back office/ middle office jobs. My friend went from DB back office (Operations), 5 years WE -> Columbia MBA -> MBB consulting. I know several others who made similar career moves.

Also, in this economy, people should be happy to have a job offer. If you can snag a FO offer, you thank your lucky stars. Many people end up selling cars or working at Starbucks after college. People on this site think BO/MO gigs are "bad".. but these aren't really bad jobs in grand scheme of things

It's standard to call technology people analysts in pretty much every industry I've seen, hence the designation "programmer-analyst". Your objection to this use is rooted in the fact that you've somehow assigned a certain prestige to the word "analyst", making it mean something more than "one who analyzes".

However, some banks do make the distinction, calling their tech people "interns" and their finance / ops people "summer analysts".

deleted