Still no MD after 30+ Years

I obviously haven't gone through every MD's bio, but most MDs at my bank made MD in 15-20 years. A few took longer, but they also work for 5+ years before going to business school.

lateral as MD?

If she has put in 30 years at the same firm and has been passed over for an MD promotion for nearly/over a decade, the writing is not only on the wall but has been for years. They are happy keeping her there working away dutifully for as long as she wants to. They would've promoted her if they intended to. They know her work product and have decided she isn't fit to be an MD there.

This is similar to a group giving an analyst a goose egg (or whatever bottom-bucket is, something paltry like $10k that year). It's a clear message: you aren't performing well, you aren't 'tracking'. If the employee chooses to stay, fine, they're getting work out of that person without having to pay for it. Same logic with your wife. As long as she chooses to lay back and take it, they're willing to let her stay.

I'd echo Whiskey5 and suggest that she look for an MD position elsewhere. If she truly cares about nothing more than the title, it oughtn't to be too hard to find a firm of comparable or slightly lesser stature willing to take her on a two-year contract (or one, if they're playing hardball).

In summary, it's more than unlikely at her current firm. It's not impossible elsewhere; it's actually quite probable. The only question is whether you, her thoughtful husband (out seeking advice on her behalf), are willing to wait the ~six months it'll take her to find a lateral position and ensuing 12-24 months while she basks in the warm glow of her new title before feeling comfortable enough to hang up the cleats and seek fairer climes.

While everyone has their own motivations and that MD title is certainly the big draw, I don't know what the point would be at this stage. If she's 60 year old she likely won't be working for that much longer and even as an ED I'm sure you guys are very, very comfortable so if you can do so, why not just leave it all behind now and follow your dreams to live somewhere warmer? Perhaps I'm naive but is retiring an MD that much different from retiring as an ED? I would also expect that a lateral could be challenging too as most firms would view her a few years from retirement so it may not be worth the time / investment unless she brings in substantial revenues.

Start our own advisory firm and give yourself the 'MD' title, or even better, CEO.

MBA to PE exit?

HAHAHAHAHAHAHAHAHAHA

Same as what everyone else has said. I'm curious as to how the conversations gone for the past 10 years where she said she wanted to make it to MD? Seems kind of strange to me that someone who is smart and hardworking enough to make it to ED wouldn't know how to ask for what they want and move up the ladder one more rung.

It clearly doesn't take anyone else 10 years to move from ED to MD so why hasn't she looked elsewhere?

This actually may not be all that unusual. May I ask which type of function she works in at the bank?

She could go back to Business School, and after graduation, go back to bingo.

Thanks for all the feedback. This is such a hard issue for us, or maybe her. I'm clear what I want to do.

If she just wants the title in her arsenal before leaving the job, it's clear that this is a matter of pride. Chances of her getting to MD are quite slim if she hasn't already been promoted by now. She could have a frank discussion with upper management asking them if she's on the track to MD. When they tell her no, this could help her come to her senses and back to reality. Best of luck with this situation

I don't think the likelihood matters, when is she willing to accept not getting it, does matter.

What does she do exactly at the bank?

Who cares, as long as she gets paid? It might be a view that her individual contributions exceed her long-term potential as a manager. I've worked with plenty of career ED/VPs -- most are pretty happy to be pulling in a paycheck.

This has to be a troll.

If not, this is he saddest thing I've ever read. No, not that she has been passed over or that she is obivlious that it isn't happening. But that she actually cares about a job title still at age 60 and a couple of years away from retirement.

Honestly, I'm surprised she hasn't called it quits yet after 30+ years of banking at a high level.

I would echo what everyone is also saying and tell her that while she's still fairly young, to lateral to a bank that values women in power since the current location she's at seems to have quite some bias built into it over the years she's been there. It can be a very tough transition, but I don't think that if she's been passed over so many times that she'd be seriously considered since it almost feels like her skills are being taken for granted at the current firm.