What is an Associate Director?

I work at a boutique and our hierarchy doesn't work this way.

I have had quite a bit of contact with Associate Directors at banks in the UK but have no clue what level of responsibility or education they have.

Can someone please shed some light? Thanks

Associate Director Position

The title of Associate Director is one that is often found at European Banks. This label is not as common at US based banks.

For reference, the typical heirchy at a United States Investment Bank is Analyst --> Associate --> Vice President --> (Managing) Director -->Managing Director

At some firms - Associate Director is the equivalent of a Vice President and at some places it is the equivalent of a more senior Associate.

According to @skins1" at Barclays Capital:

An associate director is the same as a VP.

Seperately, @charlemenge" denoted that:

"Macquarie has Associate Directors, I think on a level above VP (Manager).

UBS seems to have a very defined system behind their Associate Directors which are on the same level as associates.

justanotherbanker - Investment Banking Associate:

People at the Associate level at UBS spend their first six months as an "Associate" and spend the next two and a half years as an "Associate Director". The difference is that Associates are not considered officers whereas Associate Directors are. The difference is that the officer role lets you sign on behalf of the firm.

Timeline:
Analyst (3 years) >
Associate (for 6 months/stub period) >
Associate Director (3 years) >
Director (3 years) >
Executive Director > (3 years)
Managing Director

I was told ED's can have shorter tenure if they bring in a lot of revenue.

Associate Director Salary

In the instances in which an Associate Director is on the same level as an Associate, the average all-in salary (salary and bonus) at bulge brackets was: $218,000 as of November 2017.

In the instances in which an Associate Director is on the same level as a Vice President, the average all-in salary (salary and bonus) at bulge brackets was: $271,000 as of November 2017.

You can learn more about salaries on Wall Street through the Wall Street Oasis Industry Report for Investment Banking.

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I was presuming it was a European thing as I am asking specifically about Lloyds Corporate Markets. I have never heard of this hierarchy in North America. I know only Analyst> Associate> VP> Director> Managing Director etc... with different iterations depending on the bank or firm. "Associate Director", however, seems to combine 2 positions and completely negate the VP job that I always thought came before Director.

 

I know some people at UBS:

Analyst (3 years) > Associate (for 6 months/stub period) > Associate Director (3 years) > Director (3 years) > Executive Director > (3 years) Managing Director

I was told ED's can have shorter tenure if they bring in a lot of revenue.

 

Sounds about right.

wharton05:
I know some people at UBS:

Analyst (3 years) > Associate (for 6 months/stub period) > Associate Director (3 years) > Director (3 years) > Executive Director > (3 years) Managing Director

I was told ED's can have shorter tenure if they bring in a lot of revenue.

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At Barclays, once you are an analyst who has been there for a year (i.e. no longer under HR) you become an "executive". For associates after a year they become a "manager". Then AD is like VP, then not 100% sure where it goes from there.

 

People at the Associate level at UBS spend their first six months as an "Associate" and spend the next two and a half years as an "Associate Director". The difference is that Associates are not considered officers whereas Associate Directors are. The difference is that the officer role lets you sign on behalf of the firm.

 

Yes, all Associates are promoted to AD. Justanotherbanker's post is dead on in terms difference between Assoc and AD. And LdnMezz got it slightly wrong, you are not promoted until March 1. UBS pays middle of Feb, and promotions are effective March 1. Now that was a needless edit, which you learn how to do all too well after 2 years as an associate (or AD) in banking. Thank god I left.

 

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