Sales and Trading Promotions
I recently got hired as an S&T analyst out of school at a boutique bank my Dad went from being an analyst to group head in only 6 years in S&T in the 90s and was making 8 figures as global head of equites at a BB before age 30. For these reasons he thinks I should be able to do a similar progression if I move to S&T as well, I told him its highly unrealistic and didn't want that kind've pressure? He said even if its not as quickly people still can make MD in a short time but I'm scepitcal?
Thats super fast, I feel like companies at all financial service industries have just created way to many promotions, it used to be more straight forward now its analyst, senior analyst, etc
If you don’t suck you get promoted ever 2-3 years or so from analyst to director. Once you hit director it’s a total crapshoot to make MD. If you perform well, the right people like you, and they think you might leave you will get promoted to MD. In terms of making 8 figures, very few people hit that number. I’d guess the head of fixed income at my firm clears between 5-7MM. This business paid much better especially inflation adjusted back in the day.
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