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Career Resources
Based on the most helpful WSO content, accelerated promotions to VP at a BB are not unheard of, especially for high performers who demonstrate they are already operating at the VP level. Banks are increasingly recognizing talent and rewarding strong performers with faster promotions, particularly in cases where individuals have unique circumstances or prior experience that justifies the move.
Here are some key points and advice to consider:
Precedent for Accelerated Promotions:
Your Case is Strong:
How to Approach the Promotion:
Realistic Expectations:
Networking and Advocacy:
In summary, your situation is not "wild" but rather a reflection of your strong performance and unique timeline. Approach the conversation strategically, and ensure you’re aligning your case with the bank’s objectives. Good luck!
Sources: Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, Q&A: MBB, BB S&T+IB, Top MBA, US/Global, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, Why does everyone want IB?, Pick you life - Investment Banking
Del
It can be done but will require significant arm twisting and political capital. The new bank specifically reset you to ASO1 because they wanted to get 3-3.5 years of juice. Making you a VP removes the leverage they hired you to give. So they have to believe that giving you an early promote and keeping you happy is worth more than the juice they would get from you as an ASO. This can be done but is a tall task. If you are actually high performing here is how i would frame the accelerated advancement options, in order of likelihood:
(1) Top bucket / highest rank every ASO year
(2) Top bucket / highest rank every ASO year but upon VP promote, they make you a VP 2. Or alternatively after your first VP year promote you from VP1 to VP3
(3) Skip ONE ASO year, making you ASO3 next year
(4) Make you a VP after a single ASO year
As you can see, the order of likelihood decreases the fewer ASO years they get from you. Junior leverage is pretty valuable vs another midlevel in most (not all) groups.
Are you either a woman who is ALSO good at the job, OR do you consistently get put on high-profile deals in your group (by request of an MD with a lot of political capital)? If not then you're SOL.
Del
Then TBH would start the discussions with people you "trust" and say you're thinking about it based on your review have the "is it worth it" conversation (i.e. being top of your class right now vs. being a low ranked VP, do enough people know me). Then have actual conversation towards EOY in your review (or December). Issue is you're at a new bank and likely have low political capital...a woman at the same bank for 4+ years who is presumably top bucket is a no-brainer early promote (brownie points if they have the internal extracurricular stuff too).
You are a DEI Becky. Corporate US and Canada is your oyster. Ask and daddy MD shall reward you. Make sure you deliver that hawk Tuah after he gifts you expensive wine.
dude what's your problem with origin merchant partners?
del
Honestly I have trouble here deciding whether the MS category is "Low Quality", "Not Helpful", "Inaccurate", or "Spam". There needs to be a category for all four.
Two months till my five year stint as an Associate, so I hope this early VP applies to my career progression.
5 year Aso stint?? How??
Bump
You don’t get if you don’t ask so definitely ask but the probability of getting two years as a bump is low especially because the VP promotion comes 5.5 yrs in to your career which is aggressive. If you were a true top performer on my team my preferable option is to pay you like a sr associate / VP but don’t promote and if I really felt I needed to, I’d bump you a year.
It does happen but to be honest it is very uncommon, and at least at my bank there is extremely low appetite for this, even for top performers. I have sat on both Analyst and Associate committees where this is brought up.
For reference, my bank operates on a 1 - 5 scale for rating bankers, and only those who score a 5 two years consecutively can even be considered, and then the head of the banker's group needs to make a case (and thereby spend their own political capital) for that double promotion. So it helps to be in a top-performing team with a group head that has a lot of weight internally.
Nevertheless, if you don't ask you're almost certainly not going to get it. If I read your message correctly, I think you've been there c. 6 months and have only strong mid-year reviews to work off of? If so, I think it is highly unlikely that you will be accelerated (and in fact your official review might be lower than your "real rating" because we only allow a certain number (approximately) of bankers in each of the 1 - 5 groups and it's much easier to dunk on someone who has only recently arrived as they're a much less likely flight risk).
Overall - if you had been there >1 year I'd suggest you ask (your group head), and make all the arguments clearly. If nothing else, it establishes you as ambitious and someone who will expect a strong bonus. It at least positions you to ask for a bit more then (there is always a little extra in the pot). You need to have these conversations before your actual final review.
If you really have been there for a very short amount of time, you can still ask, but just be more mindful about appearing "cheeky", depending on your group head and their temperament.
bump
Your biggest mistake was joining as an Aso1. With 3-ish years of banking + 1 year of PE I would've pushed for Aso2. Its much easier to negotiate in at a higher-level than jump promotions.
As other people mentioned it also has to do with group dynamics. If they brought you in as an Aso2 no one probably would've batted an eye but you jumping over your peers? That would raise a lot of eyebrows
Del
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