How to recruit after not receiving associate promotion offer?
I'm a 3rd year banking analyst and found out this week that my group isn't offering me an associate promotion offer. They are letting me stay on until the end of my contract in June, but I would like to start recruiting immediately to find a new job. I am concerned however that prospective employers might view it as a red flag that a 3rd year analyst would be trying to leave rather than staying for promotion. Does anyone have any advice on positioning myself in recruiting to appropriately address any questions or concerns about not having gotten a promotion offer? Any tips on how to craft the narrative would be greatly appreciated.
I don’t think you’ll have trouble recruiting. I was laid off in November with just 6 months of experience and just now received a few IB offers. My point is, I was laid off but managed to frame it in a way that worked to my advantage. You can either be honest about it or explain that it wasn’t a good cultural fit and you’re seeking other opportunities. Also with 3 years of experience I personally think it shows commitment to the job and most people will understand.
You don’t need to explain anything nor will anyone ask. The expected outcome is that people leave banking after 2/3 years. If asked why you are leaving, the answer is that you are interested in pursuing something else.
The concept of A2A is relatively new and rarely happened until recently. I stayed in IB but went from BB to a boutique. I think 2 people from my analyst class did A2A and both left almost immediately after promotion. We only had 8 or 10 people stay for a 3rd year, including me. I told my group I'd do a 3rd year if they let me do it in London vs NYC. I got screwed over at the last minute on that, but it wasn't my group's fault. I spent most of my 3rd year flying back and forth to Europe, costing the firm hundreds of thousands of dollars on last minute, first class flights all because they wanted me on the NY P&L vs London's. Big banks really suck at managing finances, but it was all deal related so maybe they just don't care.
What a strange unrelated comment
That’s how I roll. Uncorrelated responses = alpha, my friend.
My bigger point was that older people making hiring decisions expect that analysts churn after 2-3 years. I failed on that.
Ut rerum ab aspernatur impedit. Ab atque excepturi nihil beatae.
Quis ut maiores aliquam doloribus esse repudiandae quo. Ex autem voluptas pariatur aut quos deleniti illo. Illo quo modi eaque incidunt maiores eos voluptatum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...