Associate to VP to MD transition ratios?
In a typical group at BB or MM or elite boutiques, what percentage of the associates make it to the VP and what percentage of VPs make it to MD?
What do the associate who don't make the cut do - go to other banks as associates or move out of the industry?
Hope to get some insights based on what you have seen at your bank. I'm a career switcher planning to do an MBA and don't have much info about the industry. Your input is highly appreciated.
guess i can't post links yet so .. http://www . wallstreetoasis . com/blog/what-banker-careers-really-look-like-schools-and-promotion-rates
senior associate/VP roles??? (Originally Posted: 04/22/2010)
I was curious if some more experienced bankers could let me know what happens to senior associates during the 3rd/4th years.
1) What is the lifestyle like as far as hours/travel?? 2) When do people make the jump into building relationships/bringing business in the door?? 3) What happens to senior associates who will not be groomed for the VP promotion...what kinds of exit opps are available with this much experience.....will all exit opps result in a severe salary cut?
bump .. would be great to get some perspective
interested as well bump
bump
I can give some color on the Capital Markets (S&T + Research) side in lieu of an experienced banker.
It will really depend on what group you're in and what you want to make of it. In the part of research/analytics I worked in, it tapered off to 50 hours/week after a few years- the guys who wanted to advance faster and make a little more money would work 60-70, though. Naturally, somebody who worked in a completely different group within research (probably one with an industry focus) will come along and say I'm crazy and that it's 80 hours/week. Things are different across the board in research.
On the trading floor (flow, not prop), all of the traders are gone by 5-6 PM, though the day started for them at 7-8 AM.
Generally, I've found that more experienced people have families and try to work less. Having a family will hurt your career, but most people who have families will say it's a trade-off. After two or three years, you start to realize that there are more important things in life than money and your job.
IlliniProgrammer, do u mean capital markets as in ECM/DCM ?
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