2nd year BO/ MO/quasi FO rotational analyst moving to IBD: Should I ask for 2nd year analyst status?

Hi-- I'm an analyst soon to graduate from a BO/ MO/quasi FO rotational program from a top BB that emphasizes experience cross-LOB (IB, AM, etc). I've worked hard, impressed my teams, and chosen my rotations strategically in such a way that when I realized I wanted to move to FO 6 months ago, I did it pretty easily having been given an offer to join this BB's IBD program, which I'm extremely excited about. It seems I've been selected because of my experience in the IB prior on desks with product knowledge closely related to what I'd need to have for this role, as well as having more experience with deck compilations and working with clients than the other candidates.

The thing is that taking this job means I'd be a 1st year analyst again-- an analyst for another 3 years, so 5 years total. In my BB, I've known of people transitioning out from this rotational program after a year, going to the Private Bank/ Asset Management program, and negotiating for 2nd year analyst status. Does anyone think it's worth asking if there could be a similar possibility for the IB program? I'd rather be a 2nd year analyst so that the work I've done in the past doesn't seem for naught, but I don't want to rub HR, or my future team, the wrong way by asking given they did advertise for a 1st year, after all. Is it even worth it? I'm simply happy I have the offer given how awesome it is, and feel a little guilty about worrying about the extra years, but I'm having difficulty signing the offer letter knowing I won't get to be an associate for another 3 years and would be MUCH more comfortable if I knew I had a chance at making associate after 2. Some perspective would be great...thoughts?

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Comments (11)

Jun 23, 2011 - 4:28pm

How do you know that you will get a guaranteed 3rd year and/or associate offer?

The way I see it, being a 1st year may actually help you, because you'll get more experience in IB, and also still have the correct timeline for PE if thats what you want.
If that's not what you want, you have a guarantee of more time working in IB pre-mba before your stint is over
2yrs ops + 2-3 yrs ib looks better then 2yrs ops+ 1-2 yrs ib, doesnt it?

I would say hedging yourself at a young age is much more important then making associate 1 year earlier
unless I am missing something

If you don't agree with me, then ya I dont think anyone would rescind your offer or be insulted if you brush this topic. Choose a manager that you get along with, and ask him before going to the hiring manager

Jun 23, 2011 - 4:42pm

I don't know yet if PE is what I want as a next step, but as a non-finance major, I know an MBA must be in the cards for me to advance, and you're right, more IB experience would probably look better (though it should probably be noted that most of my time so far has not been in Ops--it's more like 11 months Ops total, 13 months strategy, then 1-2 or 2-3 years IB. But I see your point, WB-- thanks. Any other perspectives?

Jun 23, 2011 - 6:12pm

If you're that confident, then ask your team (don't go to HR, go straight to your VP) if they have an accelerated analyst program, whereby they can fast-track you to associate in 2 years. That way you get your timeline, whilst they don't take on the risk of having to fire you for not being up to par for a 2nd year analyst.

Jun 23, 2011 - 6:15pm
Smooth_Nico:
If you're that confident, then ask your team (don't go to HR, go straight to your VP) if they have an accelerated analyst program, whereby they can fast-track you to associate in 2 years. That way you get your timeline, whilst they don't take on the risk of having to fire you for not being up to par for a 2nd year analyst.

Also since you are rotating (and I assume you have a good rapport with your current boss), speak to your boss first, and ask him his opinion and whether he can vouch for your abilities (which he may have done already). Whatever you do, make sure to stay humble, and motivated even to join the team as a first year, as this is no matter what the position you are really after

Best Response
Jun 23, 2011 - 6:37pm

Thanks-- I don't think my concerns are deep enough to go looking for an accelerated analyst program (which I'm not certain even exists at this BB)-- I've been given an awesome opportunity either way (1st or 2nd year), and I think I'm aligned with WB in that 3 years, plus the 2 year experience I already have, would be more attractive to a top MBA program, should I decide at the end of 3 years to do that. Plus you bring up a good point-- just because I have 2 years experience at the firm already doesn't mean I will be up to par with, or exceed, the other 2nd year IB analysts come performance evaluation time. I think I'm going to go ahead and take the offer as is.

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Jun 25, 2011 - 3:12pm
NYCSA:
Thanks-- I don't think my concerns are deep enough to go looking for an accelerated analyst program (which I'm not certain even exists at this BB)-- I've been given an awesome opportunity either way (1st or 2nd year), and I think I'm aligned with WB in that 3 years, plus the 2 year experience I already have, would be more attractive to a top MBA program, should I decide at the end of 3 years to do that. Plus you bring up a good point-- just because I have 2 years experience at the firm already doesn't mean I will be up to par with, or exceed, the other 2nd year IB analysts come performance evaluation time. I think I'm going to go ahead and take the offer as is.

You've hit the nail on the head. If you are aiming to go for an MBA, your previous experience is most definitely to your advantage. Still worth getting as much info as you can about the firm, as to accelerated analysts- by asking peers who would not look at you funny

Jul 10, 2011 - 11:15am

Update: The MD from the new team actually came to me with an offer to be treated like a 2nd year analyst given my past experience, which was really cool of him--he offered, so I took it. Figured I'd circle back, as most folks rarely do and leave future readers wondering what happened. Thanks for the assistance on this, guys. Much appreciated.

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