Associate for 4 years | New normal?
Hello Community - first time poster here, working in markets facing front office role at a US BB in NYC. Over the last 1-2 years, I have seen multiple cases (in fact almost all cases in my division) of VP promotions coming through after 4 years (!) of life as an Associate. Is this a new normal in sales & trading, equity or fixed income research?
My historical understanding was that 3 years is the maximum, and 4 years means you're close to being out. But the point is, even the best performers on the Associate level seem to be promoted after 4 years now.
That's more for IB, there's less of a clear cut timeline for promotions in s&t given the small size of each desk and also less turnover
S&T promotions are not based on timeline...strictly based on performance. If you are a trader and make 10-20mm....boom, instant promotion from associate to VP.
If you are a researcher, and your portfolio of trade ideas that you send out to clients has a good run of performance...then boom...promotion.
If you are in sales and you bring in significnt flows and revenue..then boom..promotion.
None of these things apply? Then why promote you...what do you have to offer?
Serious question...not rhetorical....what do you have to offer the bank?
So it is possible to become director at 27 in S&T?
i worked with a 28yr old MD trader just a few years ago. He essentially got promoted just about every other year. (he was also making 20mm/year trading...they promoted him to keep him from leaving for a hedge fund...which he eventually did anyway)
Chris Rokos
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