Analyst comp
Just a few questions I was hoping some may answer:
- Many BB's have a locking period of 12-24 months when one accepts an offer (analysts). Does this mean that within this time frame one cannot be promoted to Associate?
- For Research, would passing any CFA level exam amount to a bigger bonus or salary, or does one have to wait for next year?
- Similar to 2, if one were to go part-time and get a MS or MBA, then once he/she receives the degree, would comp be reevaluated on the spot, or does one have to wait until this locking period ends (or until next year)?
From the ghetto...
I wasn't referring to IB, it was Research. Hours are more flexible, and the recruiter told me its been done many times, but don't know about transitioning into a higher role. I just don't see why they emphasize CFA if it wouldn't amount to much in terms of compensation?
Yeah - people are getting promoted to associate within 12 months all the time. Part time mba programs are just as highly rated as full time programs at harvard and wharton so that's definitely another way of being promoted. Whether its full time or part time an MBA is an MBA at the end of the day, right. Unfortunately as they take three years to complete, no wait, hang on, the one from Loyola College, Maryland can be completed in 15 months so that could speed up promotion as well. My guess is if you've got that advanced level 2 CFA exam under your belt as well you could get promoted on the spot before that lock in period ends.
Would it be sensible to get an MBA with completion or in the process or completing the CFA charter? I was thinking of a 1 yr MS degree, if that could lever one up to an Associate role (or at least a raise)?
You can't do MBA while working, IB or research. One it's dumb, why try to do MBA while working 70-100+ hours a week. Two, why would any bank want their employee to split their attention between work and a part-time MBA program. Three, why would a bank want you to get an MBA from a part time MBA when you could go to a top full-time MBA program. Finally, qualifications (CFA, MBA) don't lead to raises. Performance, promotion (i.e. analyst to associate), and tenure leads to increase in comp.
Finally to answer your question about CFA, it's not a matter about comp, it's a matter of qualifications. CFA is the expected qualification for research and investment management analysts. Having it won't lead to increase in compensation, it's just par for the course.
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