I'm an incoming analyst for a BB and was wondering whether the analyst is considered a formal position or simply a 2-year program (Mine states I'm supposed to stay for at least 2 years), where afterwards I'm jobless? In other words, is staying and becoming a 3rd-year analyst, associate, then VP, etc. considered the "default" pathway for analysts (Assuming of course you don't do terribly, in which case you'll just be fired)?
Now for IBD, I know this isn't really a consideration because they all leave after 2-3 years anyway and all my ibanking friends tell me they'd rather be unemployed after working 2-3 years then stay any longer.
However, I'm going to be working in credit risk so I'm not sure if the position is any different in that regard. Our hours aren't like IBD, so i could feasibly see myself working in this role long term.
generally speaking you put in your two years and then you are off to b-school and maybe come back as an associate. the exception is that if you are a high performer, and I mean very top of your class you might be invited for a third year and then progress to associate, VP and so on without going to b-school (but I would say not desirable as it's likely to limit your career progression without MBA). My suggestion is that you kick ass in your two years, get a nice recommendation to HSW (or one of the M7) and take it from there...
Which also begs the question: how do people find time to study for the GMAT and work full-time? Now my job is going to require only about 50-60 works a week so that's doable but still difficult, and I can't imagine how someone in IBD pulling 80-100 hours a week could possibly have time to study. Unless of course they study and take the test before starting their jobs?
yes, I know it kind of sucks, but depending on what you want, you might not have a choice. you could start in a year and give yourself enough time to do it i guess - ultimately you will probably have to just sacrifice personal/sleep time for 1-2 hrs a day until you nail it.
Have you considered, I dunno, reading your contract? Crazy thought, I know. I'm sure the language is more specific than "supposed to stay for 2 years."
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