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not into venture capital lol.
corp development, vc, pe, suicide..
The "two years" you speak of is in reference to the analyst or associate program that banks have. It traditionally lasts two years, although some analysts and associates are asked to stay on for a third year or promoted accordingly. After the second year, some people go on to B-School, others move to other firms in different roles or out of banking all together. I hope that clears this up.
Frieds, when you say associate, I take it you mean research, because in IBD an Associate is a career position into the senior ranks
Err... an associate is the rank following analyst, research is a separate career track sir.
JC, no, I don't mean Equity Research, although this applies to it as well. Every shop has a different way to say the same damned thing no matter where you are.At some firms, they use analyst for entry level ER and at others they use associate. Either way, it's still pre-MBA 2 Year Program and a post-MBA 2 Year Program.
When I said a two-year program, I meant that. Major banks have a 2 year program at the analyst level and at the associate level. The analyst level is for those that know immediately after undergrad that they want to go this route and the associate level program is for the post-MBA group. Length of service is two years unless you are asked back for another year or promoted accordingly, hence the comment of put my two years in before moving.
Gutshot, I am well aware.
Frieds, I have never heard of a two year Associate program; I have used this site for 4 years and have spoken to countless bankers and all I have ever heard is how associates are groomed for the senior ranks--and most associates are associates for 3-4 years and then promoted to VP. What bank has a 2-year program for associates?
Lets see.... UBS, CS, JP Morgan, Citibank and Goldman, to name a few, all have Associate programs for the MBA Graduates. I am sure there are other banks, but I don't feel like compiling a list at the moment.
As to the program, it's a two year contract. Yes, most associates tend to stay on for longer, but they are no longer bound by any obligation after the first two years of employment at the associate level unless the firm paid for their MBA, and that's a whole different issue. Associates can walk after two years without any worries, again indicating that the post-graduate program has a two-year lifespan. They may be groomed for advancement, but that does not mean that they need to be groomed after the first two years at their starting firm.
When I first read the title, I instantly thought the question was like a fat guy asking a runner why he only ran 1/2 a marathon instead of the full marathon..the question isn't that bad, but I was worried I was going to read about some dude with no sense of reality who dreamed of doing banking for the next 25 years of his life.
Also,
Employees sign a 2-3 year contract for their entire career..associates, VP, ect. The contract just keeps getting renewed if you decide to stay with the firm.
Frieds/Gekko,
Thanks for the clarification. I guess the difference is that they normally expect the analyst to leave and the associate to stay.
Can you still apply to b-schools if you take the 3rd year job? Does it look bad on your resume if you quit to go to b-school...?
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