Unique Problem - Not the classic "MO to FO" - Cannot Lateral, Cannot be Promoted, need help.

Hi, this is an introductory thread. I have read here a lot and absorbed a lot. The advice here has been stellar to say the least. I am saying this because I do not want this thread to be simply discarded as ‘go read X thread-trust me I have looked and my own situation that is relatively unique, I would appreciate some commentary.

TLDR: I require advice on how to move from this current job, (where I cannot be promoted, I cannot lateral, and the longer I stay the opportunity cost keeps rising, I have had some minor successes and close calls but still don’t have a foot hold yet).

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Situation Overview:
• Been in current role for almost 3 years now.
Currently Work in a small (non-headquarters regional office) of a BB, Investment Banking (M&A) Division. You could categorize my position as ‘middle office’. Clients have seen my work but never seen me, is a good high-level description.
• I work directly with front office team members on Projects/transactions, have decent relationships, and my resume is strong (based on feedback and market interest for interviews etc.) – point being: I look like a good candidate on the surface and have very much the skills to execute when the time comes. I also am able to discuss it in interviews if I am calm / relaxed and well practiced beforehand, which I am constantly improving on.
• I cannot be promoted in my current position. I cannot change titles or have any upgrade like that – which is structural. I have good performance reviews and get along with my coworkers etc. It is nothing I am doing, I just simply need to get into another company. Don't suggest lateral moves please. I already tried.
• My raises are insignificant and are teetering under inflation range, and the bonus basically wouldn’t be classified as a bonus compared to what the majority of members here received (it is under 3,000$. Let’s just get things out in the open)
• My current pay is very bad, you most likely make 2-3X what I make gross, and when you include promotions, and higher impact work, feel free to add in 2-4X more so. For reference: I make under the median income in my city I work in, and also in the province/state I live in. I can give full accurate gross numbers at any time.

My goal: to get a FO job in another firm. I have not been successful yet.

Quick Questions you might have had/reactions
• “Wait a second – why would you take this job? It doesn’t sound that great” Answer: I had the opportunity to work here and my resume needed a big brand name, it was where I was truly lacking. This also was an opportunity to make steady pay (previous entrepreneur, ran a company, became too stressful -can get into it later etc, after transitioning out of that venture I worked in ‘bucket shop’ IB group and they didn’t pay salary only on contingency… with student loans this was the best decision to make long term) – Also, what a great way to network and learn, its an amazing platform and I’m still happy I made this decision.
• “So all you are saying is you want more money?” Answer: I spent many years, in unpaid internships, getting experience, loading up debt trying to be ‘productive’ in university and outside of it trying to break into IB and get ahead. I do not want to be lectured about my desire to make more money at this point-sincerely, you are barking up the wrong tree- I have not made a dime in my life. I have invested my time and money in making a sincere go at this and my resume looks very strong because of it. I am not the 'quick buck' guy.
• “Have you considered getting an MBA?” Answer: I have been given this advice before and frankly I do not have the money. Please understand that it is also large risk and if you read on you will see I have come very close so going after something so risky, would be foolish in my opinion at this point.

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The issue: I need to make a move to another company-in their front office group, it would take care of and solve multiple problems all at once.

The lack of being promoted (reminder there is no track there is no possible way to solve this – I have asked and networked and tried, doors are closed – lets discuss another route). Important note: it is not closed to me because I am unproductive or a bad employee. This position in this office is a dead end-if you skipped the logic for taking it, please go up and re-read.

I feel there is a wall closing in on me, for my age->and time period, the more time I spend here the more opportunity cost I face; multiple associates who were brand new when I was there just joining, are now promoted to VPs, yes I am jealous of course I am, but they are good people and are in the ‘track system’ to be promoted so I need to get into one and do the same for me-no hard feelings just need to get my own good set up. Probably one of the hardest things I need to do is leave this office/group – they are all really chill, great to work with, adding to the depression/demoralization of this situation.

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Before you judge, or say “get to work”, I want to lay out what I have done already and continue to do in order to make this work/be successful. Maybe you could identify some holes?

• I network regularly and attempt to make it as genuine as possible – long term, learning etc. as oppose to “give me a job please” – I am open to speaking with everyone.. ‘to a point’… for suggestions or idea generation to help get me where I need to be.
• Each interview I have had – I have done a ‘debrief’ wrote down notes and kept them (I have a large database of a lot of things and retrofitted it to include interview data). From these I have learned insights and rewritten my resume, added, and subtracted things, better prepared stock pitches and for questions – my interview skills are genuinely getting better.
• I have written CFA level 1 and passed, wasn’t fun, and I plan to write level 2 in June.
• I financial model companies regularly for my own investments in my spare time (I try really hard daily). This is to help with interviews and gain/keep skills fresh so that I can actually do the work and complete modelling tests.
• I have spoken to a friend at work who is a specialist in mining and I have been working with him, on and off, to learn how to model those companies/transactions (like I said, I am trying to tap as much as I can that is in front of me to become skilled/do this the right way).
• I have applied to jobs in other cities/other countries, spoken to recruiters as well. (I am in Canada), I have focused on NYC, London, and Toronto, have received interest from international banking groups, ER mostly, but one hedge fund I got far along in the interview process (private/long only), I had a corporate development job Interview… alas capital raising was a large portion of it (at an infrastructure fund) – would have been a great job. I have had a lot of successes – one job at an international Bank (non BB) was in NYC and I was doing well, but then they cut the position to reallocate their capital/resources to APAC region – that was painful. There have been many more-I can elaborate if needed on numbers, interview rate, levels of interviews I have gotten too etc.

The insights I have learned – I am a granular individual so please cut me some slack I can’t help but do this:
• I get more call backs for ER Jobs (this is probably due to job title… as my job title is ‘research associate’. This is what the job ad said and how I am referenced when my manager in California talks to me.
• Job title Musings: Since I am a ‘consultant’… legally speaking I have had some advice from a friend in NYC that said … “why don’t you change it to associate? Get more interviews? They assume you are a front office associate running the deals and managing analysts? That is their fault” -> I do not know how comfortable I feel about doing this but I have started A/B testing resumes to see what works.
• Smaller firms are actually apprehensive about me due to money – THE IRONY. During one interview process – point blank an HR associate was nervous they could not ‘afford someone coming from a bulge bracket’.. this is ironic – painfully hilarious, and demoralizing.
• When my story in an interview is REALLY solid – I do better – but crafting this is really difficult, in finding ways to craft it that make sense or fit with the goals of the group, ‘more responsibility’ and ‘opportunities to grow’ have been totally turned on me in interviews to look REALLY BAD.

Sincerely, what should I do? Please if you feel it necessary, tell me where I am going wrong. If it is the process I am doing wrong – please tell me. If the net working is being done wrong or needs a tweak let me know. I am way too ‘on the cusp’ of getting what I need that I see no reason to quit at this point. I just need to explore some different strategies.

Thank you.