MD Stingy With Assoc Promote
Ignore tag - I am an IB analyst at a BB. Worked for about three years as a biz dev analyst at. F500 out of school then lateraled to a sector specific boutique IB for 2 years. Lateraled again to a BB coverage group during covid and I have been here just under a year. I currently make An2/An3 base, and was hoping to get associate this upcoming winter. All my reviews have been very good, but my MD keeps referring to me as an An1 and has eluded that I won’t get associate until at least 2024 (despite making an2/an3 base which confuses me). How do I approach this? I feel like lateraling again would be a bad look, but the thought of being an analyst for four years after being out of school almost 7 years is just so depressing.
Start looking for another role. He isn’t gonna consider anything sooner than his original timeline of 2024 unless you have something else on the table. And if you do have options and end up accepting a promotion from him before 2024, who knows when you’ll make VP or if he penalizes you later for looking elsewhere? He already still sees you as an An1, so its worth looking at other options that might have better upward mobility, and frankly, a manager that appreciates you and wants you to move up too.
This makes a lot of sense honestly. Thanks for the advice
Better to switch jobs as an An1 after 1 year in IB than as an An3 after 5 years on the desk
He clearly has his own timeline and you accommodating to it (in an industry where promotions up until VP are a clear path) will reinforce his agenda. Leave asap and best of luck
Thanks dawg
do you have any closed deals at the BB? have anecdotally heard it's hard to lateral into an associate role unless you've already got the associate title.
Might have to trade down to MM.
Agree with this. Even have seen people who go from IB -> different IB role spending 3-3.5 years at analyst. Don't really have incremental advice but OP you're not alone in this
I think the bigger problem is if OP gets to the end of A3 and the MD doesn't want to promote him, but HR or the Staffer goes - there is no where else for him to go so they let him go.
That would be my concern if I was in your role.
Totally normal if you’re at GS
Haven’t really heard that at the An level, Aso to VP promote can definitely take some years
I'd keep working but actively interview with anywhere else, pref BB, that would take you in as an associate. If they can't see you as an associate right now, there's another firm out there that can.
It's usually difficult to move from an to aso by lateraling
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