How common is it to be promoted to associate after 2 years as an analyst rather than 3?
Out of curiosity, if I want a career in IB but also want an MBA (have my reasons - this thread isn't debating the merits of doing that), and I do 3 years as an analyst and 2 as an associate before getting my MBA, what would my position be if I went back to a bank (same or different one I left from)? 3rd year associate? VP? Or do banks only hire post-MBA associates at the A1 level?
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Depends on the bank, some places won't promote you after 2 years no matter how good you are, other places it's common practice.
Unless you had an agreement with your bank, you have the danger of returning at A1 post MBA.
Thanks - off the top of your head do you know the names of some banks that do and some that don't?
Sorry for hijacking but I worked in another part of the bank in an FO role and am now an IB associate. I am debating an MBA but am not sure how my application would look to adcoms at top schools like H/S/W given IB associate is a post-MBA role. Wanted to hear your thoughts if you've gone through this experience?
Sorry, can't help here - first year analyst thinking ahead.
mergersandacquisitions78 got his MBA after being an associate if I remember correctly from his AMA. Maybe he has some input on this?
No, I am a direct analyst promote straight through. I never went to business school.
To answer your question, its very much market dependent. In a good market, people have leverage for banks to do off-market things. In a bad market, I've hired 30 year olds who had investment banking analyst experience, were promoted to associate and then worked in PE all at top firms, as first year associate out of business school.
I wouldn't recommend taking the risk personally. The best time to do your MBA if you want to stay in banking is immediately following your two or three analyst years.
Thanks - this is the same conclusion I came to. My questions arose from the '4-5' year experience needed that's commonly cited, but evidently isn't always true - was encouraged to see a former analyst in my group directly went to Wharton after 3 years as an ib analyst.
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