What’s after MD?

As a prospect, I realize that I am in no way qualified to ask this question. Definitely not relevant to me, but still. I'm just curious. Do they get promoted or this the roof for their careers? Do they just like retire from here or is there any place higher? What are the exits?
Sorry if this sounds stupid. I'm just curious.

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Comments (11)

Jul 14, 2020 - 8:02pm

at some firms, there are "Partners" (Goldman, Moelis)....some MD's get promoted to the executive board (CEO, CFO, etc...usually come from the MDs and Partners)....sometimes they go on to start their own firm, or join a buyside firm as a senior member.

Generally, ince you make MD, you have a deep network of connections that you can tap for jobs, investing networks, "deals"...you can coast if you want to and still make over 500k/year if you have the professional network.

  • Intern in _none
Jul 14, 2020 - 8:15pm

Anything really. They could be promoted to head of their group like "Head of M&A". They could also be promoted to head of a specific sub-sector within their branch such as "Head of C&R Syndication". Or "COO of FIG Group". The real exit op is becoming a staffer for your group.

  • Intern in IB-M&A
Jul 14, 2020 - 8:24pm

Some go more on the management track and end up doing things like head of group -> head of M&A -> c-suite (lots of current bank CEOs started in IB), but this isn't necessarily where the best MDs go. The ones who really crush it with deals can make just as much (if not more) money just continuing on as an MD.

Lot's also move to smaller shops- an MD at Goldman might get a huge paycheck guarantee or a better cut of fees if they move to a different bank. There's also the ones that go on to start their own shops (Moelis, Qatalyst, etc) if they think they have the network to continue crushing deals without the backing of their bank.

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  • Prospect in IB - Gen
Jul 14, 2020 - 8:51pm

Maybe dumb question but, the CEO isn't the highest paid person in a company?

And the MD could also get a pretty high cushy role in Corp dev or Corp Fin for a client

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