Big 5 and BB promotions
I was wondering about how common/achievable promotions are in Investment Banking with the fairly linear career path. For those who choose to stay in Investment Banking how possible is it to get to the VP/D/MD levels? Is it more of just being extremely lucky and at the right place at the right time? What's the most common tactic to staying in IB and getting promoted?
I also heard that promotions come faster at Canadian Big 5 banks which is where I'm aiming for. Should I even attempt this or is the risk of getting fired pretty high?
Answers on BBs or Big 5 are appreciated. Thanks.
Not many analysts are promoted to Associate, but not many want it, so not sure how many could get it if they wanted it.
Promotion to VP is more or less automatic for Associates. VP to Director I'm sure differs from bank to bank and depends on the banker in question plus the overall climate in their industry. Director to MD will be tough anywhere and the bank has to have a lot of faith that you'll be a rainmaker.
This is all for U.S. banks, not sure how it differs in Canada but I know it's much more common in Europe for analysts to stay on as Associates.
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