Analysts in the Investment Banking and Mergers & Acquisitions areas remain in their position for a minimum of two years. After this time, they can pursue one of several options. Possibilities include remaining as an Analyst for an additional year, being promoted to the Associate level, moving to a different area within the firm, or pursuing a graduate degree.
Associates in the Investment Banking and Mergers & Acquisition areas start as Generalists and are expected to pick an industry specialization after 12-24 months on the job. Promotion to Associate Director level usually takes a minimum of 2-3 years.
Associates in Corporate Banking and Equity Research start specializing in a particular industry immediately upon joining. Promotion to Director level takes approximately 3-5 years, depending on individual performance and availability of opportunities.
New recruits in Sales and Trading spend their first year rotating through all areas of the division as Associates-in-Training. Upon completion of this year, trainees who are offered a full-time position will be promoted to the Associate level.
For all positions, career growth is directly related to an individual's ability, drive, and initiative. |