When do bad VP’s get pushed out
There are some truly horrendous VPs in my group… how often do “bad” VPs get kicked out? Is it relatively easy to get promoted to VP and stay there? At what point does the bank start to notice that they suck and start pushing the low performers out?
Seems like there’s a shortage of VPs… but man some of these guys get 500k+ and are literally the most useless people in the group
Extremely quickly. 2 bonus cycles max.
Lmao 2 years is extremely quick?
No, that’s the upper limit, not the norm.
Need a Recession to wash them out It appears that every bank is desperate for VPs right now
That's why banking is banking. It provides job security. Cannot give you enough SBs though.
Depends on if they’re good at politicking or not
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Easy to stay from that point onwards even if you suck as a Director or Senior Director. Just keep on executing other people's stuff, and not bring in any of your own clients, as long as you make some senior MD happy, you should be good. Obv generalizing here big time, but IMO bar from VP to Director is very low. D to MD is much higher. Have seen directors been directors for five plus years and more
Not till Director 3 when they don't make MD, have several directors in the group who have been at director 3 for years (one has been a director 3 for 6 years lol). I've never seen anyone get fired at my bank for performance, just not promoted at a certain point. Basically need the group to just give them a big fat $0 for their bonus. Some are very aware they couldn't get hired at a decent bank if they tried to leave (most bad ones are on 0 M&A deals).
where? this sounds amazing, so u dont get fired if u suck? i need to move here
Echoing the above, given the staffing shortage at the VP/Director level I don’t think they really get kicked out.
Have had an experience with an awful/incompetent VP who is an absolute asshole and grinds analysts unecessarily (e.g. making you turn comments at 2am when the meeting isn’t till next week) and they still got promoted this year. And everyone at the junior level dislikes this person.
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