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Posted: February 27th, 2015, 7:49 pm
by overkill112358
Are there some typical values for the expectation/stdev of the transition time Associate->VP->D->MD? Clearly, the titles are not unique within banks, but you know what I mean. Would it be fair to say that one could expect to spend 2-3 years for the first transition, and 3-6 years for the second.....both MV and FO?

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Posted: March 2nd, 2015, 7:13 am
by DevonFangs
QuoteOriginally posted by: overkill112358Are there some typical values for the expectation/stdev of the transition time Associate->VP->D->MD? Clearly, the titles are not unique within banks, but you know what I mean. Would it be fair to say that one could expect to spend 2-3 years for the first transition, and 3-6 years for the second.....both MV and FO?As far as I know: Associate->VD is like 2-3 years and pretty automatic. VP->D is more difficult and can depend on actually gaining new responsibilities, like managing a small team. D->MD is even a bigger jump and more on a case by case basis. Might actually never happen, really.

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Posted: March 4th, 2015, 3:17 pm
by psibladeZX
QuoteOriginally posted by: ThinkDifferentQuoteOriginally posted by: DevonFangsQuoteOriginally posted by: punkfanatic3000Yes in Model Val. The problem is a lot about discussion on process rather than getting things done.my guess is BofAit's not that bad over here....Are you at BofA? Send me a quick PM

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Posted: March 4th, 2015, 3:33 pm
by DevonFangs
QuoteOriginally posted by: psibladeZXQuoteOriginally posted by: ThinkDifferentQuoteOriginally posted by: DevonFangsQuoteOriginally posted by: punkfanatic3000Yes in Model Val. The problem is a lot about discussion on process rather than getting things done.my guess is BofAit's not that bad over here....Are you at BofA? Send me a quick PMI hear you guys have a lot of stuff to write up.

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Posted: March 22nd, 2015, 9:14 pm
by liam
QuoteOriginally posted by: DevonFangsQuoteOriginally posted by: overkill112358Are there some typical values for the expectation/stdev of the transition time Associate->VP->D->MD? Clearly, the titles are not unique within banks, but you know what I mean. Would it be fair to say that one could expect to spend 2-3 years for the first transition, and 3-6 years for the second.....both MV and FO?As far as I know: Associate->VD is like 2-3 years and pretty automatic. VP->D is more difficult and can depend on actually gaining new responsibilities, like managing a small team. D->MD is even a bigger jump and more on a case by case basis. Might actually never happen, really.QuoteOriginally posted by: DevonFangsQuoteOriginally posted by: overkill112358Are there some typical values for the expectation/stdev of the transition time Associate->VP->D->MD? Clearly, the titles are not unique within banks, but you know what I mean. Would it be fair to say that one could expect to spend 2-3 years for the first transition, and 3-6 years for the second.....both MV and FO?As far as I know: Associate->VD is like 2-3 years and pretty automatic. VP->D is more difficult and can depend on actually gaining new responsibilities, like managing a small team. D->MD is even a bigger jump and more on a case by case basis. Might actually never happen, really.From my experience this is about correct - first promotion took me 3 years and was bound to happen based on discussions with managers, didn't get a VD of any kind though, although by coincidence did have a scare that year...Variances come in from then on on a case by case basis and would typically relate to being suited to the role etc and in some cases people just don't make it and leave "to pursue other opportunities" (a polite way of saying fired). Other reasons can happen - one of the best people I ever worked with once related to me how most people she worked with were MDs and she hadn't quite gotten past EVP/managing teams - the reason that employers and recruiters gave was as she'd made a lateral move at one point in the 90s, so banks didn't see her being as focused as those doing the same asset class over and over. It's one of the most messed up things I've ever heard and I always use it as an example of explaing to people unfamiliar with banking of what's wrong with the industry when they start rabbiting about it being some sort of goldmine.

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Posted: April 26th, 2015, 7:40 pm
by CrashedMint
QuoteOriginally posted by: punkfanatic3000I am in the situation where the work place both bore me and annoys me, which in turns affect my overall mood down. However as it is very busy and don't see it to get better, I was wondering if it is better leave and have time to find a place somewhere else?Late to the party but: I've been in the same situation and ultimately decided to stay. Here's why: 1) Leaving early looks really bad. If you quit after less than a year, maybe even after less than 2 years people will assume you fucked up. As you can't trash talk your employer it's very difficult to explain why you left. Why can't you trash talk you employer: Because your interviewer will assume that you'll do the same to him 2 years down the road and in addition it will devalue yourself. Likely your current job is why they invited you and if you tell them this is shit, it's the equivalent of telling some random girl "hey, what's up? you around here often, also by the way my current girlfriend is fat and ugly, umm, wanna drink anything?"2) I can't afford it. Well, I could but I don't want to. I If I quit before I lined up something new it may eat through my savings. That's just stupid. If I want to blow that money I might as well get random nice stuff. I'm not exchanging the sum of a few nice vacations, pretty suits and powered-up Macbook for "having shown my employer" by rage-quitting.3) But I made up my mind. It's not a question if I leave, it's when I maximize my exit opportunity. That's going to be in about half a year, so that's why in the coming months I'm going to start interviewing again. I have seen quite a lot of people missing their opportunity to jump ship and sure they seem SAD.