Do you guys think Analyst to Associate promotions (any promotions) for this year will be impacted? This includes IB, CB, S&T, and other FO divisions. A lot of big banks have standard do your time for XYZ and get promoted program (ex: CItigroup for their S&T).
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I think that would be dependent on the bank and group.
I can tell you that A2A 'early' promotions at my bank (lower BB/upper MM) were significantly down year over year. There isn't an official 'promote everyone after 2 years' program, but meant to be more for higher performers. That's not just COVID though, some people got the early promo last year but are still doing analyst work so the heads of the groups wisened up.
Yeah I am hearing that the promotion pool for FY20 will be much smaller throughout the bank
For F500s, a lot of firms are taking advantage of this and saying they can't promote because of covid, even if they're being profitable. I wouldn't be surprised if this was the case with fo roles in ib. If there's less activity, that means there's less exit opportunities for analysts that would normally leave, which means they can keep them for longer without promoting them.
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