Long Term Career in IB | What is the Strategy?
Hope everyone is enjoying their weekend. This will be somewhat of a long post so I put some points in bold that I would particularly like addressed.
I'm currently an AN1 in a top group at a top MM and am genuinely curious as to the most optimal path for one to take if their goal was to stay in IB long term.
I've lurked on this site for some time and I generally understand the pros and cons of leaving IB for "greener", Corp Dev, or PE but don't find those roles appealing for a myriad of reasons.
Before anyone chimes in and tells me that I'm getting way ahead of myself let it be known that I hear you to some extent but that I came from a non-traditional path (military) and that I'm currently in my late 20's with a fiance and will likely be having kids within the next 4-6 years so I feel as though I know myself quite well.
I'm very hardworking, determined, and diligent, and am confident that will not waver too much as I get older and more seasoned in the industry. I'm also somewhat risk-averse, at least in a professional sense, and not particularly creative or insightful (seems like big paydays on the buy-side only come to the absolute best performers who have both these attributes) but I do have a genuine interest in businesses and have enjoyed the interactions with clients and the work I have done for them so far.
A long-term career in IB is appealing to me because it's an institutional role (repetitive and somewhat predictable at the higher levels) that I feel balances risk vs reward very well and where promotions come with a level of tenure that from what I have witnessed, effectively makes the job and lifestyle easier (senior managers can seemingly delegate 95% of deliverables, the firm and your teams become more accomodating around your personal responsibilities like kids, you can set the beat that everyone marches to, etc.). I feel like this pro of staying in IB will actually only become better as well especially as WFH continues to become normalized (anyone above VP at my firm is literally not required to come in at all ever).
I don't wish for my post to come off as downplaying the role of senior bankers nor the amount of work required to get there or the amount of work they do. My only aim is to convey my belief that there is such a thing as a "process" MD or senior banker who acts in an institutional capacity and that it is far easier to achieve that than it is to become a successful investor on the sell-side. I believe this to be especially true for people like me who may not see themselves as passionate about investing or intelligent enough to stay on top of the game as successful investors do but instead see themselves as workhorses who aren't really bothered by the hierarchical bureaucratic BS that banking has and instead can leverage those things to their advantage.
So with that said, what is the most optimal way to make IB a long-term career?
Can I just ride out my whole career at one firm?
Do I aim to go A2A or lateral?
Do senior analysts lateral into associate positions elsewhere?
Do I have to go back and get an MBA eventually?
How do I manage office politcs at my current firm if I want to stay on?
When do I begin to let my interests known?
What counts most when trying to stay on? Approval from seniors? # of deals? Technical skills?I would imagine all those things.
Lastly, I would love to hear from any senior bankers that began their careers as analysts. How did It work out? Anything you would change?