Associate promotion cycle - Complete confusion
Joined current BB in summer 2021 as Analyst 1. Promotion in summer 2023 as New Associate (Associate 0). Now January-25 company system indicates I’m still Associate 1 with the same base when I thought I’d be Associate 2 with higher base. Pls educate me on what am I missing:
Summer ‘21 - Summer’23: Analyst
Summer ‘23 - Summer ‘24: Associate 0
Summer ‘24 - Dec ‘24: Associate 1 (6 months, 150k base)
Jan ‘25 onwards; Associate 2 if I understand correctly with 175k base?
BB I’m at has associate 4 before VP if that helps.
Depends on the bank but you might not get the higher base until Feb/March after bonuses, even if your title changed. I assume that banks wait until after bonuses to bump salaries so that they get salary expense savings on the people who leave right after bonuses and avoid having to pay them the higher salary.
Thank you and makes sense. So I should expect to be Associate 2 with 175k new base , after 18 months of stub associate/associate 1?
That’s usually the way it works for most BBs.
Stub year (~6months) - 175k base
1st AS year - 175k base
2nd AS year - 200k base
3rd AS year - 225k base
Perks of being an AN->AS is you get your full year AN bonus in the summer + usually a sign-on bonus on your AS promotion (this one varies) + your stub bonus in Jan/Feb.
Then add the fact that most AN->AS are basically guaranteed top bucket bonuses when competing vs MBAs
This is true and often holds for AS to VP promotions too
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