No associate promotion, valid excuse/reason?
Didn’t get a promotion at my bank but what should I say when I interview at other banks? They will definitely ask and I just want to be prepared.
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Say you turned it down.
But seriously, you can say you told you team you intended to recruit for other roles but wanted to stay on another year. Reason being that you wanted to gain experience, but ultimately knew that path wasn't right for you (whatever reason whether coverage group, product, geography, whatever and make sure to note internal lateral wasn't possible). Your team liked you/appreciated the transparency so you stayed on for a third analyst year while recruiting.
Unfortunately it’s a 2 year program without a 3rd year option. I would also be recruiting for a bank at a lower tier but same coverage and city. That’s why I find it a bit difficult.
Do they know there is no 3rd year option? Most banks are 2-year programs but will informally grant 3rd years if people ask. I would also go that path and say you asked for it to help with recruiting. There's no good way to explain you involuntarily did not get what is usually an auto-promote.
Not the only one who didn’t get the promotion or a full 3rd year but tbh the goal was not to stay in IB. Ideally I do something else but obviously having a job makes it easier.
If you are not the only one, absolutely stick with it being voluntary
Even if its typically a two year program, the existence of your AN3 means it is possible to have a third year. Hard for an interviewer to argue against that- your firm will probably confirm this to them if asked.
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