Top Bucket Top Bank Bottom Bitch
Been on the desk for just over a year and a half. Was given top bucket my first year, and while 70% of my analyst class is leaving, I am planning on staying with the bank. On cycle went very average for me, and while I did get offers, none were the names I was looking to join. It has dawned on me though, as the time nears for the other 2nd years to leave, that I have made a mistake in staying. I feel behind despite being ranked ahead, and perhaps that is just my own insecurity stepping in. After two years, you feel like you could run most things, and while being an associate brings new challenges, it is hard to walk the same hallways day in and out without a little change. A new office, new people, etc might be nice.
My question for you: For the analysts that continued on to go A2A, were there any regrets? At a BB with very average deal flow rn, and while I see it picking up in a year, I am thinking of lateraling when seats open. Any advice for a 2nd year planning going A2A? How do I deal with the feeling that I am missing out despite not really wanting to do PE that isn't a mega buyout fund? Welcome any advice.
Based on the most helpful WSO content, it's not uncommon for analysts to have mixed feelings about going A2A (Analyst to Associate). Here are some insights and advice that might resonate with your situation:
Regrets and Reflections: Some who have gone A2A express that they miss the excitement of a new environment but also appreciate the deeper understanding of the business they gain by staying. It's a trade-off between the comfort of familiarity and the challenge of new experiences.
Feeling Behind: It's natural to feel a bit behind when seeing peers move on to new opportunities, but remember that career progression isn't a race. Being top bucket indicates strong performance, and staying could mean more opportunities for leadership and skill development.
Dealing with FOMO: The fear of missing out (FOMO) is real, especially in high finance. To combat this, focus on the long-term career trajectory and the skills you're acquiring. Not everyone wants or needs to follow the PE path, and there's value in carving out your own unique career journey.
Lateral Moves: If you're considering a lateral move because of average deal flow, it's important to weigh the potential benefits against the risks. A new firm might offer more excitement and learning opportunities, but you'll also have to establish your reputation all over again.
Advice for Going A2A: If you decide to stay and go A2A, make the most of it by seeking out new responsibilities, volunteering for challenging projects, and building relationships with senior bankers. This can help alleviate the feeling of stagnation and prepare you for future leadership roles.
Remember, every decision has its pros and cons. It's essential to evaluate what's most important to you in your career and personal life and make a decision that aligns with those values. Keep your head up, and good luck!
Sources: Going A2A.. feel like a failure, A2A - what has been your experience ?, Going A2A.. feel like a failure, MBA vs direct promotion, A2A Implications on Exit Opps
Similar situation as you, but a year older. I lateraled to an EB. My thinking is to
1. Stick it out to 3rd year asso / VP and jump to a corporate mid level role, LMM investing or startup
2. Recruit for 25 PE associate roles offcycle and take the demotion (less likely)
The only thing I’d caution you against is to pick you lateral carefully. I think EBs have more limited exit opps outside of “high finance” and IB associate is already more limited in terms of exit opps than analyst significantly. Balance your weighting of comp vs exit opps carefully.
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