Rising through the ranks in very top-heavy groups (VP+)?

How do you guys think about groups which are extremely top heavy, multiple MDs, Ds, and VPs, especially those who have been with the bank for a while? Seems like an extremely uphill battle to get promoted if you come in as a new VP, you have to wait for the more senior folks to leave to open up a promotion for you or significantly outperform your seniors.

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