Not getting promotion, will be stuck as fourth year analyst. What should I do?
Third year analyst here. As the title reads, I won't be getting a promotion at my firm. This post is a semi vent and background overview for the next few paragraphs, but I'll ask my true ask in the last paragraph.
I've worked in IB in NYC for three years now, and some key people in senior leadership just doesn't have faith in my work qualities, despite getting good reviews from one VP and my other associates. I just can't shake the perception off. I am desperately applying to not be dinged as a fourth year on my resume, but I know that between being unemployed vs being a fourth year, fourth year definitely beats things.
I'm even thinking of spinning my story as my firm not having the budget for another associate. I think talking to senior folks on my team about my promotion or "what I can do to improve" will be ultimately futile because I have made constant effort to be staffed, but they have sidelined me and basically gave me less work overall. Moreover, their explicitly harsh reviews just do not inspire confidence in me and were just general pans of my performance instead of specific critiques.
I overall don't even care about PE, I would love to do something like sourcing at a GE or VC, or even corporate strategy roles or corporate development. It's just very hard to find interviews currently, but I will definitely settle for a corporate strategy or FP&A role at this point.
I’d genuinely appreciate any advice, referrals, or guidance about what to do with the prospect of a fourth year analyst stint. I have about two months before promotions are official. Should I just swallow my pride and stay, given this poor job environment, while also applying elsewhere? Or would stepping away entirely be the healthier move given the burnout I’m starting to feel? I know I’m driven, coachable, and highly analytical at the core, I'm just looking for a real shot to prove myself in the right setting.
You got this shit bruh
Appreciate your kind words, hopefully can make it out of here soon
Switch somewhere else as associate. Boom problem solved
Can you read he's trying
Tbh, I didn’t even know anywhere on the street does 4th year analysts. If so, be glad they didn’t just cut you like most banks would do rather than promo…is this a smaller boutique by chance?
Right now, it probably seems like the end of the world. I have no doubt you worked very hard to get to where you are, and regardless of some mistakes, probably did a lot of quality work over the last 3 years,
I do not have the magic answer you seek, only general advice. Keep applying and growing your networking as you look elsewhere, and leave no stone unturned. Ignore title, I did 3 years as an Associate on an M&A team only to ultimately not get promoted, and am now doing Corp Strategy. Turns out not only do I like the work more, but I am much better at it. Looking back, this was one of the best things to ever happen to me. I refused to give up on M&A even though I wasnt very good at it, but the lack of promotion led me to explore other options, and now I am in a role I actually excel at.
Things really do look darkest just before the dawn. My advice is look into lateral opportunities - Corp Dev, Corp Strat, Strategic Finance, IR, ER, Private Debt. You have good experience and even if you didnt get promoted, you were kept around, so your work clearly isnt terrible. Find a firm that will value you, bring your banker work ethic with you, and you'll be on top again in no time.
How do you get over the extreme paycut in corporate roles? I have similar background and situation to you and went to corporate, sure while I enjoy the work more it’s also paying me 50% less and I have little visibility on promotions or timeline to get to X role. In IB, it’s very structured and clear what’s going to happen. I kind of regret going corporate now but want to know your thoughts or at least if you can share your comp progression since? I’m at a F500 for context.
Similar boat for me. Ignoring my title, I'm up for VP this year and between mediocre comp and limited upside due to a top-heavy group, I've been contemplating moving out of IB and looking for something that interests me more. But even medicore IB comp seems to be better than corp dev/strategy comp 90% of the time. Add in some other perks of me being a part of the group for a while and some other benefits I've accrued over time, and i feel a bit handcuffed to keep trying to climb the ladder and trudge through process work that gets so old over time.
Unbelievably helpful reply here. You give me a lot of hope that I can find something more fulfilling for myself in the end of the day. And the words you provided were extremely kind and thoughtful as well.
I apologize for the delay with replying but I did read it and sit on it to really truly reflect to come back in a headspace where I am not mulling over this situation but can look at it with a more positive lens. I ultimately accepted I won't be promoted, and I need to just suck it up and look elsewhere as soon as I can. In the end of the day, my career is very long and a small hiccup like this isn't detrimental long term.
Like you said, I won't leave a stone unturned, I thankfully have a handful of interviews at other places now that seem pretty promising. I hope in a month or two I can come back with updates to my situation.
Personality hire final boss
Bro is gonna be a fourth-year analyst
fourth year analyst i seen it all bro
Bro gonna be a super senior analyst
im dead yo lmaooooo
Geriatric Analyst
Are you at a BB?
MM
You should leave to another firm or get your MBA. It sounds like seniors don’t like you and you’ll never be promoted.
Lateral?
Consectetur qui adipisci nihil officia earum non ea. Quo iure sed sit cum saepe quo quia. Unde quia modi explicabo quis culpa.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Expedita hic eveniet in adipisci alias hic assumenda. Enim sed quos quam voluptas. Velit quae culpa explicabo in. Excepturi illo vero delectus accusamus saepe id. Recusandae aut voluptatum neque non. Excepturi dolor asperiores modi suscipit quis error vel.
Pariatur iusto error qui sunt qui labore aut. Dolor consequatur error quos tempora illum sed. Et in recusandae soluta est quae ipsam. Ut asperiores velit ut totam voluptatem dignissimos.
Pariatur voluptas suscipit ratione iure dolorem est qui. Sint saepe voluptas nulla et fugiat dignissimos. Voluptatem aspernatur placeat aut earum asperiores sint repellendus necessitatibus. Illum illo repellat sed aliquam aut eos deleniti non. Officia aut itaque earum vero provident. Inventore minus sint asperiores id est.