Career trajectory in Equity Research (biotech)

What does career trajectory look like in ER (biotech if that matters, at a BB) once at VP level? Is it "up or out", where you can only be VP for a certain number of years before either making director (in house or elsewhere), or being shown the door? How common is promotion to director internally vs having to go elsewhere to get that promotion? Can you be "stuck" at VP level for 5+ years? Assuming average to above average performance, not below nor stellar.

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