I can only assume not every IB analyst becomes an associate, and not every associate becomes a VP, then an MD or goes into a lucrative buyside career.
What happens to those people that don't successfully climb the ladder then? Are they a majority or minority? Where do they end up working and how does the pay look?
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Also interested.
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The majority of analysts do not climb the ladder for the simple reason that they have no desire to do so. The vast majority of analysts come into IB with one goal: to leave for PE after two years.
I think for associates and above it really depends on individual experience. I have seen associates leave for PE or corporate development, directors and MDs leave for CFO positions at former clients, VPs leave for controller positions, etc.
how many analysts actually get into PE? maybe 5% or less? there are simply too few slots.
associates go into strategy, corp development or work in smaller shops, fintech etc.
I want to say at least 50%+ of those who want to do PE (and put in some effort) will get a job (higher for top BB and maybe lower for the top MMs, and big drop off after that). Obviously KKR vs. a sub $1 billion shop are very different.
I'd say most people jump around. Those who don't make the cut at a certain level go to the second tier banks and others just make the jump for bump in salary, Career bankers are pretty hard to find today.
They get visited by uniformed officers, and get dragged off, never to be seen again.
Tossed in the meat grinder.
i've never seen someone get counseled out at associate to vp level or heard of it unless it was something like cultural issues. executing as an associate/vp is honestly not that hard as long as your analyst isn't out to fuck you.
They commit suicide. You're either in, or under bro!
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