As a student it's very clear to me what the "generic" path is in IBD. I know everyone's story and path is different but from what i've gathered it can be very straightforward.
Analyst -> Associate/MBA/PE/HF/Other ->VP ->MD etc.
What is the pathway for those who don't make it into FT FO positions out of undergrad? What is the pay like for middle office and back office positions and how high does it get? I have never seen any threads or topics regarding what people in these positions go on to do, besides lateral moves into FO. I am very, very curious what it is like if one does not make it into the front office but still decides to join an investment bank.