Hey Monkeys,
How many years are typically spent at the Associate level before promotion to VP? It seems like it differs from firm to firm and competency of the individual, but is it safe to say as follows:
Analyst: 2-3 years Associate: 2-3 years
Thus, are there many 28 year old IB VPs out there?
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Its generally 3.5 years. When you graduate B-School or are direct promoted to analyst it is usually with a July start so the calendar looks like:
July 1 - Dec 31: Associate 0 Jan 1 - Dec 31: Associate 1 Jan 1 - Dec 31: Associate 2 Jan 1 - Dec 31: Associate 3 Jan 1 - forward: VP 1
At the analyst level some banks are doing 2-2.5 year promotes (I believe at Citi analysts are promoted to Associate after 2.5 years and then spend a whole year as an Associate 0, hence 2.5 years as an analyst and theoretically 4 as an Associate).
Thus putting this together, assuming you graduate college as a 22 year old, the fastest you could be a VP is probably 28-29 on a normal track.
This seems pretty accurate to me. Anecdotally, 26 is the youngest I've heard of a VP and 29-30 seems fairly common.
That's incredible.
Depends on industry as well. I know in trading things can move quite a bit faster and you can get some freak-ish MD's at 30 years old whereas IB is generally much more regimented and very tough to break the 2 - 3 years at each level.
What does the post MBA track look like?
Great question, I also want to read the answer to this one.
What a contrast from the biotech industry, it takes five to ten years just to make it to manager.
positions in other industries though mean different things. VP at a Fortune 500 company is usually a much bigger deal than being a VP in a bank, for whatever reason the naming conventions are a bit different between industries.
Thanks for the input. This may be another loaded question, but how much do the hours differ from the three positions as well?
Obviously it differs by company, but is it safe to say VPs max out at 60 hrs/week? I'd like to spend time with my super model wife and future D1 athlete son.
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