This may be a dumb question but please excuse my ignorance. What is the difference between an Executive Director and Managing Director?
Difference between Executive Director and Managing Director
In the United States an Executive Director is most commonly equivalent to a Senior Vice President. Therefore it is the step before reaching Managing Director.
In Europe an Executive Director is the equivalent of a Senior Managing Director.
This point is well explained by user @fedor, a private equity associate:
fedor - Private Equity Associate ED is the same thing as a Senior MD, which puts him right below Group Heads. I'd say he can get you an interview or even a super day if he wants to but I don't think he could get you an offer. Maybe at a smaller firm, it would be possible, but not a large bank.
However, each bank has its own structure so you need to research each individual rank to determine where their position falls on the hierarchy.
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there is none. Goldman has executive managing directors and partner managing directors. Most firms just have Managing Directors though
executive director at GS is assumed to be VP..
At UBS - Exec Director is the level before MD, similar to senior vp at other banks.
There is a difference between Executive Director and Executive Managing Director. Executive Director is the same thing as a Senior Vice President and it is the position before reaching Managing Director.
GS has Executive Managing Directors and they are Managing Directors but they are not Partner Managing Directors.
EMDs at Goldman take home between $1.5 and $3 million a year. Goldman PMDs take in over $7 million per year
what about these numbers now post lehman?
Anybody know the difference at Morgan Stanley?
Executive Director? (Originally Posted: 01/11/2010)
Where exactly does an executive director fall in terms of superiors and how much can they influence in terms of hiring. Thanks
ED is the same thing as a Senior MD, which puts him right below Group Heads. I'd say he can get you an interview or even a super day if he wants to but I don't think he could get you an offer. Maybe at a smaller firm it would be possible, but not a large bank.
fedor is an idiot. ED is above a VP, but below an MD. to refresh:
analyst -> associate -> VP -> ED/SVP -> MD
as with most answers, it all depends. however, whereas an analyst's / associate's BAD opinion can keep you out (i.e. - "thought the guy was a douche. we shouldn't bring him in."), their opinions don't have as much pull when trying to bring guys in. although the negative review of an ED/MD can definitely keep one out, their positive review on a potential candidate has a lot more pull. so to answer your question, as long you haven't pissed anyone else below / above the ED, and he likes you and is WILLING TO GO TO BAT for you, you should have a good shot.
good luck.
Thanks guys for your input.
fishbeancake = correct fedor = not correct
No need to call me an idiot before you do some research buddy:
http://www.wallstreetoasis.com/forums/md-vs-executive-director
If you are on the US system, an ED is (as you correctly noted) right below an MD and is technically an equivalent of SVP. "ED" however, is not a very common term for an SVP in the US, therefore I assumed he was talking about the "English" system, where the ranks are Analyst -> Associate -> Senior Associate -> VP -> Associate Director -> Division Director -> Executive Director, i.e. DD = MD and ED = Senior MD. Lots of non-US banks are on this system so I don't think it's too unreasonable to assume that's what the OP was talking about.
That's odd. I know JPM, MS and C have ED as a part of their ranks.
It is a 'mezzanine' level between VP and MD.
Executive Director can also mean responsible officer in a firm which makes them big swinging dicks
otherwise just SVP
at GS they have VP / ED's - b/c GS has a weird 6 year ED track
I believe Morgan Stanley just has the usual Analyst, Associate, Vice President or Executive Director and Managing Directors.
Executive Director desk analyst in credit (Originally Posted: 01/20/2011)
Im confused as to that title, director and analyst in the same title, so they are an actual analyst as opposed to an entry level trader? What do they do?
Think so. Probably some sort of quant I'm guessing.
Some firms use the titles Director/ Executive Director past VP rather than SVP/MD. So this guy could be a bigwig, especially if he's in at least his 40s.
Their level is Executive Director, there job is to be the Credit Analyst sitting on a trading desk, don't think of analyst as the title think of it as their job, kind of like an "Equity Analyst" at a hedge fund might be a 40 year old Vice President.
Edit: Agree with above poster. "Analyst" could mean research, too. The issue here though is that there's less of a research focus in credit than equity and more of a component to pricing odd features of bonds or correlation products. A lot of it is a numbers game revolving around risk and yield, and credit research typically splits a lot of the attention from the traders with the chief economist's office making predictions about treasury action.
The desk analyst and credit titles says pretty clearly that he sits with the corporate bond or CDS traders. And Executive Director says he's probably not a 22-year-old kid. Analyst could mean research or it could mean quant analytics. If it were equity, I'd lean towards research; being credit, I'm kinda leaning a little more towards it meaning he's a quant. Really, it could be either one.
How high up is Executive Director? (Originally Posted: 09/02/2011)
^^^^
Analyst--> associate --> vp --> ED/principal/director --> MD
this is a new one to me. Sad state of affairs and a good indicator of "title inflation" when they put the word Executive in your name and you're stuck right in middle management.
Uh, you're not even considered "management" until you make MD / group head
any idea what pay is like at those levels? 200 and 80-100%?
Depends where you are. If youre talking at a BB in IBD, easily 200 and 80-100%
Directors / principals take in a minimum of $500k at BB's
Executive directors (Originally Posted: 03/25/2014)
What rank are executive directors at top BB? I thought they were just below managing directors BUT I came across an executive director and it says he is head of that whole division? Surely the MD is the head? What power do executive directors have?
Usually ED's are a step below an MD and can be depending on the firm either above or equal to an SVP. ED's can have a fair amount of pull, however I've noticed that there are two distinct groups: he first are those who are still on the !D track and are rising stats, the others make enough money and bring in enough business that they are worth keeping, but not enough to make it to MD.
EDs are junior to MDs. It is not unusual for an ED to be "Head of [insert non-core industry here] Investment Banking", but that's typically merely an indication that there isn't much coverage of that particular industry at the bank and thus there is no MD who covers it. Such roles do not mean they are "group / division heads", just that they are the most senior banker for a particular industry. For example, the Industrials group at JPM covers a wide variety of sub-sectors; if they didn't perform many deals in Capital Goods (making this up), it wouldn't be strange to see an ED with the title "Head of Capital Goods Investment Banking". That ED, however, would not be "group head of Industrials".
Executive Director/Executive VP (Originally Posted: 08/18/2015)
Which is higher in the chain in Investment Banking?
Got the answer. Ignore
how high up is an executive director? (Originally Posted: 11/23/2015)
So I was just curious as too how high up an executive director is at a BB in an AM division? How much pull was he have for an SA position within his group? Some people have told me all he can do is get you an interview, while other have told me he can pretty much get you the position. Assuming he is willing to bat for you, which do you think is true?
Analyst (1-3) Associate (1-3) Vice President (1-3) Assistant Director / Senior Vice President / Executive Director Managing Director
Different EDs will have different clout, but they are all nearly MDs...
It is all simply a matter of the firm / group / individual, not their position. Don't mistake a title for power, as that's not always the case.
Don't think anyone but the CEO could guarantee you anything really. I had an MD strongly vouch for me and I didn't even get a first round.
An ED is a good person to reach out to for a connection and entry point into the firm. They're senior enough to have some power, but not too senior that they'd ignore you completely. I've had a lot of success speaking with ED's and getting them to put in a good word for me through HR. Also, given their relative seniority, they can probably provide a broad perspective of the firm you're looking into, which is an advantage over talking to, say, and analyst.
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