Do most BB analysts leave after their 2nd year or 3rd year?

Curious as to if most BB analysts leave after their 2nd or 3rd year for PE. Is it better to leave after your 2nd or 3rd, does it matter? Are most full-time analyst programs 2 or 3 years?

I seem to see mixed things on this, I have seen many analysts stay 3 years then leave, or stay 2 years an leave. It seems like 2 years it the most common, but I am curious. Do most BB's just assume that analysts are going to leave after 2 years or do analysts staying usually always get promoted if they are good?

Is it better to leave after 2 years to get the best chance at PE placement - as in do PE firms preference 2nd year exiters from IB versus 3rd years or does it not matter?

Comments (2)

 
Aug 1, 2020 - 12:46am

A lot of questions there but I'll answer a few of them:

  • The BB is trending towards 2 year analysts programs as many have removed the third year analyst year - opting for promotion after 2 years
  • A number of banks want to retain analysts now adays so they are trying to keep analysts when possible - so if you want to stay and you're decent they will likely find a spot for you
  • If the bank does have a 3rd year analyst program it doesn't really matter when you leave. If you strike out in on-cycle recruiting during your frist year or if you decide late that you want to recruit, and you have your heart set on a MF or UMM you can take a second run at it in on-cycle 2 - with a plan to start in 2 years (so after your third year as an analyst). Going into the second on-cycle window you will have an edge over your first year peers since you will likely be a better modeler and will have real deal experience - so that can be helpful.

    - Interestingly, some people will do on-cycle their second year - take the A to A promotion with the intention of starting at their buy side exit op after their 1st year as an associate - this may burn some bridges at your bank, but an option

Just observations based on my experiences. Hope this helps.

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