Analyst to Associate - How likely?
Hi Guys,
I'm an incoming intern in a coverage group at a mid tier BB (BofA/Citi/CS/Barcap). Although I haven't even done my internship yet, I am pretty confident I want to be an associate before moving into industry (no interest in PE/HF) so that I can get a higher position than as an analyst.
If I am even an average analyst, how likely is it that I can make the jump to associate without going to B-school? Will I have to lateral to another bank in order to hit associate? Will my bank force me out if I am not a top performer?
Also at the mid tier BBs, is it a 2 or 3 year analyst program? Have heard differing sides so I want to be clear.
Another question would be do the exit opportunities from analyst to associate differ significantly in industry (corp dev/startup)? Like would staying the extra year or two as an associate give me far better exits than as an analyst or is it similar.
Any advice helps! Thank you!
Your internship will be virtual, so you likely will not have insight into the day to day until you start full time. I promise you that your view on this will shift in some way. It's easy to say, yeah I can handle working 18+ hours a day for two weeks straight, but when you do it it's fucking demoralizing. Not saying you won't go A2A, but focus on doing well in your internship first (if you can even call it that). Typically BB's run a 2 year analyst program with the option to continue for a third year (where you're essentially an ASO). However a lot of BB's are shifting to a two year model.
thank you for the insight!
Kind of confused by your post.
If you want to be an associate just make your way through the 2/3 year analyst program and be promoted to associate. Most banks would love for analysts to stay beyond the traditional program length.
I just posted this old thread, but the general thinking is you never leave IB as an analyst to get an MBA and return as an associate: https://www.wallstreetoasis.com/forums/why-you-dont-leave-banking-for-b…
Keep things simple, crush your internship and get a return offer first.
Best of luck!
Banks don't always give Associat epromotes to Anals. My bank gave it to only 50-75%. Rest were asked to leave. MDs made it clear who was promoted and who wasn't.
this is accurate, don't know why it got MS lol - same deal at my mid tier BB
Wait so, just to be clear, you only get an associate promote 50-75% of the time if you do anal? Or was the 50-75% all promotes and the % higher if you did anal?
so long as you're doing well, banks will typically want you to stay on for associate? they prefer home-grown over mba? thanks for the note!
Harder to move to PE/HF as an associate. Most A2As are looking to stay in banking for the foreseeable future. There's some movement at D/MD for your industry connections, but your best shot at recruiting out is as an analyst.
I'm speaking for the bank I work for - if you are a medium to top analyst, it is highly likely you will convert to Associate. Out of a small sample size of 8-10 A2A or soon-to-be A2A, I have only seen 1 that was told they couldn't move on, which was very unsurprising given their track record. So if it's a bank with general Associate mobility, as long as you performe decently well (or at a minimum, don't suck), you should be fine.
Keep in mind though that the traditional exits to PE/HF become increasingly difficult as an associate, especially if you are in the US where the recruiting process is so rigid. I have see it happen, but those that went typically lost a year or two.
On the other hand, as an Associate you will likely find the work much more enjoyable as you'll be thinking bigger picture, can delegate work, allocate your time, etc.
very helpful, thank you!
8-10 a2a from your class? Isn't that a lot, How many left to pe?
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