From Analyst Monkey to King of the Jungle MD: The Investment Banking Hierarchy

“This is not a fraternity house,” my staffer explained as he hauled me into a small conference room.

“Some of the MDs have complained about how messy your desk is, so clean it up.”

Genuinely curious, I replied, “Were you referring to the empty Red Bull cans or to all the papers too?”

Not a good start to your 3rd week on the job.

I told this story to a few co-workers afterward and they all laughed and responded the same way:

“He’s lying, a bank is exactly like a frat house.”

They were right – just like a fraternity, there’s hazing, a hierarchy, and certain rituals you must go through to advance.

While this site has been analyst-focused in the past, today you’re going to learn all about this hierarchy, how much you get paid at each level, how the work differs, the average age range, and the possible exit opportunities.

And if you’re curious about hours please stop reading this site right now.

The Review Process: Scratch My Back, I’ll Scratch Yours

“She is an excellent Associate who always takes time out of her busy schedule, not only to show me the in’s and out’s of accounting and finance, but also to impart valuable leadership skills. Her attention to detail is impeccable, and she adds so much value and attends to clients’ needs so well that it seems they never have any needs. I give her my highest recommendation and cannot imagine a banker with whom I would rather work.”

-Your Future Review of an Associate You’ve Thought About Killing

Ah, the review process.

Nothing inspires quite as much lying, bribery, and deal making behind-closed-doors – especially when you’re at an investment bank.

So here’s how you can survive the politics and make it through the process alive – without getting voted off the island.

From Analyst to Associate and Beyond: How to Get Promoted In Investment Banking

So, what happens if you’ve lost your mind and suddenly don’t want to move into PE, go to a hedge fund, or become a venture capitalist?

You continue on in banking, and move from Analyst to Associate – and beyond.

If you’re in the US, you might be wondering why you’d ever want to do this – but in other parts of the world exit opportunities are less hyped and many bankers actually remain bankers.

Plus, if you don’t get any buy-side offers you’ll have to stick around in banking anyway – so here’s how to get promoted and how to avoid turning into Patrick Bateman in the process.

Why Would You Want to Get Promoted?