5 Ways To Get Internally Promoted to VP

I am a second year associate in a MO position (primarily risk management although sometimes IBD interfacing). Up until recently, becoming a home-grown VP was almost a certainty, granted you weren't laid off, and had at least 5.5 years of industry experience. Not anymore.

Last year, two out of six associates weren't promoted to VP and less than a year later, they are no longer with the firm (one was laid-off and the other got a new job). The associate class ahead of me is much bigger, and honestly, we're pretty VP heavy as it is. Out of 10 or so associates, not everyone can make VP this year or next. Therefore, we're likely going to see some attrition, whether forced or not. I've also noticed that things have become far more political - at increasingly junior levels.

3 Big Lessons I've Learned From Working in Finance

While admittedly basic, these are lessons that I have experienced first-hand over the past five years I've worked in the financial services industry.

1. You Are Always...

The Basics of Clearinghouse Efficiency: Fact or Fiction (Part 1)

Like the concept of energy conservation, I am of the belief that risk (as in the concept) cannot be created or eliminated. It is always present in varying quantities and more importantly, interpretations. There's risk in everything you do - relationships, career ventures, planned activities...you name it, there's inherent risk. While it cannot be eliminated, there is the belief it can be mitigated and transferred. This is where the clearinghouse concept becomes substantially more important - as a risk mitigator, not eliminator (you thought I was going to talk about risk in the framework of something scintillating!? Like my love life, or more accurately, the current lack thereof? Ha!).

Introduction:

Sitting Trader Style (When You're Not a Trader)

So the layout of my office is "trader-style" although I am not a trader. I only have two computer screens instead of four; a lone Bloomberg terminal now serves the entire floor...