M&A IB 2 vs 3-Year Analyst Programs
Hey all - weird question and never been a poster on here (yet I still enjoy the content). I’m a senior analyst in M&A at a UMM investment bank. We typically have a set-in-stone 3-year Analyst program. However, my group is pushing hard to get me promoted to Assoc early. I have to state my case to HR, and part of that is comping to other banks on the street. I know some other banks do 2-year Analyst programs (JEF) and others do 3-year, but promote top performers to Associate early. What other banks are known to promote Analysts early?
Based on the most helpful WSO content, many investment banks follow a 3-year Analyst program structure, but some do promote top-performing Analysts to Associate earlier. Here's a breakdown:
Banks with 2-Year Analyst Programs:
Banks with 3-Year Analyst Programs and Early Promotions:
Factors to Consider When Making Your Case:
If you're looking for specific banks or more detailed comparisons, you might want to explore additional WSO threads or consult colleagues who have insights into other firms' practices.
Sources: https://www.wallstreetoasis.com/forum/equity-research/career-ladder-equity-research-vs-investment-banking-a-definitive-guide-part-3?customgpt=1, Banks with 2 year A2A Promotions, Career Ladder: Equity Research vs. Investment Banking - (A Definitive Guide, Part 3), Megafunds starting associates 6 months earlier
Bump
JPM do UK had a friend in cov who went up 2yr & 2mos.
Its typically 3 years right? I have met a couple of AN3s.
So is it a thing where if you are a high performer you can get fast tracked and what is the typical criteria
It ranges from 2-3, but typically closer to 3.
Not sure on criterion. I know he brought in a client.
I’m not certain it’s performance only, if you think about a top bucket vs bottom bucket analyst (at a top firm like JPM) and question the difference they make to a deal, it’s hard to argue they acually provide significantly more value, especially when you look directly at their contributions to the process, there’s not much variance the An role can deliver.
The margins between top and bottom bucket, In my An cohort at least, were minimal….
Oppenheimer
This is false. Also no one cares about Oppenheimer
OP here - if people could list off banks that could be helpful 😀
BofA does 2
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