Obviously most analysts leave, and those that stay past their associate are probably banking lifers. What happens if they don't make MD or even director?Seems like every VP I've ever known is in there late 20s/30s waiting to get called up?Is it practically a given? Like what else would these people doAlso, what happens to analysts when they go to PE are they just associates there whole lives lmao. It's probably super hard to make vp and principle.Terrified of being stuck in middle management - of that being the best that there is to get. While there's a ton of resources to break into this super competing industry, there's probably not a lot on how to excel inside of it past your analyst years. Guess I'd need a good mentor and some shoulder rubbing - or to read those bullshit management books "6 sigma" 69 ligma, gosh how pathetic is that
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It's all still up or out in the long run. Most likely you'd have to jump to a different shop at the same level and hope to work your way up there instead.
Have seen this fairly often.
A lot of people move to corporate and get paid a similar base, maybe a discount on the bonus but that's essentially the same pay as a VP/Dir who doesn't bring in deals.
When you reach the senior VP level, the promotion to director is relatively simple provided you do your job well and you have a good review. If you don't get it, you move laterally either to a similar bank that needs experienced people or you move done in terms of prestige or pay.
You have a lot of director 6 or 7 at big bank that won't make it to MD but they bring experience and seniority so are still useful... Provided they are still doing the work.
The promotion to MD can be tougher and you need to be in the right place 2 yes beforehand.
Realistically,"bringing deals" is not as hard as it sounds: when you do that 60-80 hours a week, at some point, something is going to come... Bringing large, high profile deals is harder. So being at the right place with enough room/attractive political environment.
Otherwise, people move to corp Dev and then move internally
Honestly, everyone I know has just gone to a different bank and gotten the promo there. Especially in the job market the last few years, it has looked pretty easy.
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