IB Promotion? 2024 London Investment Banking.
To those who have been promoted from Analyst to Associate, how is this communicated? Is it in a year end review or automatically in a letter with a 2 min catch up with manager beforehand.
Also to those who were promoted, has anyone ever asked or talked about the discussion of a promotion during a catch up with your managers?
Currently work in a IB in London and wanted to know if I should bring it up because I forgot to in the YE review
Ah, the classic promotion dance in the concrete jungle of London IB! Here's the scoop based on the most helpful WSO content:
Communication of Promotion: Typically, promotions from Analyst to Associate are communicated during the year-end review process. However, the exact method can vary by bank. Some might give you a formal letter, while others might just have a quick chat to give you the good news. It's a bit like finding a golden ticket in your chocolate bar – except the chocolate is your day-to-day grind, and the golden ticket is a nod to your hard work.
Bringing Up Promotion Discussions: It's not uncommon for go-getters to discuss their career progression with their managers. If you've been crushing it and feel like you've earned your stripes, it's perfectly reasonable to ask for a catch-up to discuss your future, including the possibility of promotion. Just make sure you're not ambushing your manager during the busiest week of the quarter.
If you missed the chance to bring it up in your year-end review, don't sweat it. Schedule a one-on-one with your manager and express your interest in moving up the ladder. It's like asking for extra bananas after you've already finished your meal – totally fine as long as you do it politely and at the right time.
Remember, in the world of high finance, it's not just about working hard but also about making sure your efforts are recognized. So, go ahead and swing from those vines, make your case, and hopefully, you'll be swinging into that Associate role in no time!
Sources: https://www.wallstreetoasis.com/forum/equity-research/career-ladder-equity-research-vs-investment-banking-a-definitive-guide-part-3?customgpt=1, IB VP or Associate to PE -- is this a thing?, Roadmap for IBD Coverage Associate to Career Banker, Career Ladder: Equity Research vs. Investment Banking - (A Definitive Guide, Part 3), Why do banks hire MBA Associates?
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