Is this after 1 full year of working? For context I operate with associates and up in a regular performance cycle ending dec
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Based on the most helpful WSO content, the typical promotion from Analyst 1 (AN1) to Analyst 2 (AN2) occurs after one full year of working. In the context of investment banking, promotions are generally structured around the firm's annual performance review cycle. If your firm operates with a regular performance cycle that ends in December, you would expect the promotion from AN1 to AN2 to take place around the beginning of the following year, assuming you've completed a full year in your current role.
Regarding the salary bump, it is common for there to be an automatic increase in salary upon promotion. This increase reflects the additional responsibilities and the progression in your career. However, the exact amount of the salary bump can vary depending on the firm's policies, the overall performance of the firm, and individual performance. It's always a good idea to discuss specifics with your HR department or direct supervisor to get a clear understanding of how promotions and salary adjustments are handled within your organization.
Sources: MBA vs direct promotion, Questions about Analyst to Associate promotions, Q&A: Disadvantaged Background to A2A Promote at Elite Boutique, https://www.wallstreetoasis.com/forum/equity-research/career-ladder-equity-research-vs-investment-banking-a-definitive-guide-part-3?customgpt=1, AN2 is Paradise
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