Very young MDs

I keep seeing articles on the internet about very young (29-early 30s) MDs at banks, in trading especially. How common is this is and what does it take to get there that quickly? Asking for a friend ;)

Comments (13)

 
Feb 22, 2021 - 10:35am

Probably more common than IB but not that common.  Typically you need one of two things - either everyone more senior gets fired (think credit in 07-08 - basically the only guys remaining were like mid-late 20s at the most, and somebody needs to be an MD), or you need to lateral to a small bank where you are tasked with building up a tiny business.  If you're able to do that well, possible to make MD, but understand that this entails significant career risk.  P&L is also an important driver, but not as important as you'd think.

Banks are still relatively structured, so it's not like these are are going from AS2-VP-D-MD with a promo every year.  

 
  • VP in S&T - FI
Feb 23, 2021 - 5:02pm

Yep this is basically what I've seen so far and seeing the paths of those who have gotten there. The person above you moves or gets let go, opening a very clear path for promotion. To even generate the PNL associated and the risk necessary for it, you need to be in the right seat to begin with. It's basically impossible if there is someone above you who is doing very well. You will have to move. 

 
Feb 22, 2021 - 11:23am

i know a few people who made MD in trading before they were 30....in every case they were just good traders who hit home runs with P&L.    Seat had an expected value of 10mm and the trader made 40mm...promotion from VP to Director.....then made 80mm next year...promotes again to MD.  I've seen this a number of times...always based on P&L.

just google it...you're welcome
 
  • Analyst 2 in IB - Gen
Feb 23, 2021 - 11:22am

Which areas of trading were they in? And I'm assuming this was sell side and not AM?

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