More specifically could a VP who's a good worker and bringing in clients not make it to MD since all positions are filled and he's passed 3 years?
If so would he have options like getting hired into another bank or is he screwed since he had no exit opps?
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Yes, it's entirely possible. Normally if a VP (or Director) is truly and independently originating business, they'll get promoted. But it depends on how much business and what percentage of an MD's revenue target it represents. If an MD at whatever theoretical firm this is needs to generate $10 million in fees and the VP is originating $1 or $2, and the entire rest of his vertical is covered by the MDs above him, he probably won't make it. But he probably could lateral to another firm.
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