Asked this on another thread but didn’t get an answer. Question is what happens to a 3rd/4th year Associate who does 3-4 years as an average performer but just doesn’t quite make the cut for a VP promote? Will your boss have a talk with you and let you know you have to leave in a certain amount of time? Instantly fired? Will they keep you on board but just not promote you and expect you to jump ship or get an MBA? Also, for those in IB that don’t make VP at their current firm, what tends to be the next step? Can you lateral for a promotion with ease or will banks view you as someone who couldn’t make the cut at your current firm and stay clear? Thanks!
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A hog can be promoted at my bank if stays as long as 5 yrs
You die instantly and then the world ends
I think I've read for the millionth time that VP promotion is pretty much a given in banking. Why are you so worried about not making VP and posting the same question over and over? How horribly are you doing at work right now? Wait, on second thought, if you're a 3rd year associate but still struggling to use the search function, that may be a problem...
Think ya might have me confused. I asked on one other thread, got no answer, so asked again. It’s really about setting medium term goals and then looking into what I need to do to achieve them, while opening my mind to be prepared for the plan b and plan c options if I get squeezed out somewhere along the line.
This isn't true by the way. High probability but certainly not a given.
I think they don’t fire you but tell you to start looking. They may give you 3/4 months before letting you go. Or, they hold you back a year and you try again.
Interesting. What is the common route in the case you’re given a few months notice that you wont be moving up or you get passed up on promotion? Is it common to go Assoc -> VP by lateraling to a new bank or do most pursue MBAs or Corp Dev roles or other gigs?
Its uncommon, but not unheard of, to both lateral and get a title bump. More often it goes the other way (if you lateral you take a step back).
If your move is down market, you'd have better odds of both lateraling and title bump - but even in this scenario, firms are going to hesitate to essentially give you the job/title without you ever proving you can handle it.
Is 2021 still going ahead or is this cancelled too?
Interested in this question -- must be plenty of associates who don't get promoted to VP. Can they still stay in IB? Surprising we haven't heard from anybody yet with this kind of experience.
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