Bottom line is that my BB coverage group is bloated on headcount and looking for reasons to cut juniors. I didn't receive an A2A promote despite being a strong performer with good references - I will still receive my bonus. I was looking at roles on the buyside prior to this news, but still am a bit blindsided. Anyone else in a similar situation and suggestions on how to move forward? I'm not interested in going back to banking...
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Sorry to hear man, are they letting you stay on the team as a third year analyst until you find something? If I were you I'd take a day or two to absorb the news and then start reaching out to headhunters you spoke with before and start letting your friends know you're interested in moving around.
Nah its a 2 year analyst program
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I would ask them if you could stay on until the end of the year as a third-year analyst to give you some time to recruit. They usually allow this, although maybe not given headcount issues right now - but worth an ask so you're not working against a tough deadline (can still leave early if you find something)
This sucks, but no HH will think this is a performance issue - lots of banks are not doing A2A because they simply don't need that headcount. I would get more aggressive in looking, respond to any HHs in your inbox with what you are looking for.
Couldn't agree more. I mean not sure if talking to your team is the best idea, but that depends on team dynamics and so on.
Bump
Same thing happened to me, was able to land something at another bank but was really aggressive with my prep and outreach and had been looking a good amount beforehand. Am sure you’ll be okay in the long run but really sucks to be in this position as a good analyst
Bump
same situation...
In the same situation. Was told they are excited to have me as a 3rd year analyst… claim firm is going back to a 3 year program
Same here. They promoted the favorites to associate after 2yr. 3y program is just fake news
BofA didn’t give everyone A2A but did give us an option for another job within the bank at the same salary so at least we are employed. Maybe ask if there is an opportunity for internal mobility so you still have a paycheck while you recruit for something. I would talk to HR as well about this.
Do you think this will be same for this year? Currently at BofA and am quite concerned given that I don't have anything lined up
Any update OP?
So what happens if they say no A2A ? You get fired on the spot or how does it work? When is this communicated ?
For me it was the last day. I would communicate this as quick as possible or at least have some traction in other processes before the last day. These scumbags only look out for themselves and are comfortable with telling you on your last day that you’re not getting promoted leaving you with no time to jump ship.
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