Meng
How often do you get promoted when working for an investment bank?
I'm a junior in high school. #money #investment #dinero #promotion #banks #often
4 answers
Holly Z.
Holly’s Answer
Why Would You Want to Get Promoted? I found this under investment banking there are many wesites that can guide you if you google the question in the address bar at the top of your search page. Then you can choose a site that may help answer your question about investment banking. I did find this one may help you things you can do to get a promotion.
The usual arguments for moving to the buy-side are strong:
•Improved hours (maybe)
•(Potential for) Better pay
•More responsibilities
•More interesting work
Of course, there are downsides to the buy-side as well and it’s not right for everyone.
If you’re a really social / “salesy” person who likes a fast-paced environment, staying in banking might be a better fit.
Plus, once you get to a certain level the “Show me the money!” arguments make less sense because any MD will make far more money than he has time to spend – even if he quits and moves to Buenos Aires.
How Common Is It?
The often-cited statistic is that 10% of investment banking analysts move on to become associates.
Thank you Holly this is really interesting!
Savera
Thanks for the info!
Andrea
Great Info!
Mark Light
Kevin P Hust, MBA
Kevin P’s Answer
Now days, promotions are one thing, paychecks are another, but the big win is a work life balance worth bragging about. So this equation is hard to balance. Which one do you want more than the other. They cannot all exist in the same area. So pick it carefully.
You will have to decide what it is you want and value most. If you want the promotions, well a good school is a great foundation, long hours are the fuel to the fire, and results are the embers that keep burning. You have to bring results to the table to keep the seat.
Without being really smart, without putting in long hours, you won’t get that. So balance out what you want with what you deserve. You deserve happiness, fulfillment, to be proud and look forward to tomorrow!
Gustavo Korolik Raschkovsky
Gustavo’s Answer
So, there are a lot of factors that come in play when talking about promotions, obviously the first thing that comes to mind is if there is space in your team / area for a promotion and if you are suitable for such. Second important point to keep track of is related to your performance, usually investment banks set up goals for you to achieve during the year, having a good grip on goals, by completing them and, when possible, going above and beyond your responsibilities are important. Last important thing I always keep in mind when looking in to getting promoted is how you action to solve problems, this is the main skill you gain during your work years and what, in my view, matters the most. Handling problems by yourself, escalating when necessary and not being afraid to ask for help is important here, as senior as you can be, you have to know your limitations.
Hope this helped and wish you the best of luck!
Victor Amarillas
Victor’s Answer
From personal experience, there are a few factors that come into play.
How long you've been there
Is there an opening
Do you have the skills and experience to take your career to the next level
Etc.
From my workplace, what I like is that in the event there is an opening, it's advertised to the employees first.
This demonstrates interest for hiring from within.
So, there is definitely room for growth.
Work hard, get your foot in the door, be alert for openings, and you'll succeed!
Best of luck!
-Victor