Is VP/Director in ER worth it without stock coverage
I got the word that I’m getting promoted to associate in January, and I’m happy to be climbing the hierarchy. However, as much as I like my day to day, I’m not interested in stock coverage. Does anyone know what the level of career progression you can achieve if you stay in the associate role but keep getting promoted? I would like to know the comp structure at tier 1 shops (JPM/MS/BoA/ISI/Wolfe) although open to have insights into other shops as well.
One of them does not belong to Tier 1 shops. In any case, you are putting the cart before the horse. You have a few years to go before getting to the situation you’re describing. But to answer your question, the answer is no.
Not clear you can keep getting promoted without stock coverage. That's a pretty big part of the deal.
Pretty sure most of those places will not make anyone VP without coverage. It could be like primary shadow coverage but you're gonna have to do it.
BofA is no longer tier 1. But no, you need some Level of coverage to at least being considered for VP in most reputable ER firms
Lmao weren’t they number 1 in II
Will forgive you for suggesting Wolfe research is Tier 1, but ultimately be very careful sitting in this position without either leaving or picking up stock coverage. Why would any research shop pay you the top associate range (you can easily clear $250K+ as a VP with no coverage) for someone they don't think will ever become more valuable to them? They can just replace you with cheaper juniors and, frankly, the role of AI is moving in the direction that could replace many 'terminal associates'.
Maybe at one point in time this was a career you could just hang out and clip your $250K coupon without ever getting some responsibility, but you can easily fall into the trap of being stuck.
Here's an anecdote - at my firm the only people I've ever seen fired in an RIF are those high paid senior associate/VP level juniors with no stock coverage. They were swiftly replaced with one or two juniors for a lot less comp.
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