i’m about halfway through my analyst stint and i’m starting to see the different paths people are taking. some folks are grinding on massive deals, building relationships with partners and managing directors. others are, honestly, doing pretty routine work but they’ve got senior bankers vouching for them already—relationships that started before they even got the job.
the question that’s haunting me is: if i’m not on the right deal or the right desk, can a solid network actually compensate for that? like, can relationships with people across the firm actually move you up faster than grinding on the one deal that matters?
i’ve heard people say analyst-to-associate is basically a numbers game—that you need a sponsor who can push you through. but i’ve also heard it’s about proving yourself on complex work. and i’m wondering if those two things are actually in conflict. like, do you get the sponsor because of the deal, or do you get the sponsor first and then they get you on the deal?
the reason i’m asking is because i’m trying to figure out if i should be more intentional about building relationships across teams, or if i should just be laser-focused on excelling on whatever’s in front of me right now. what’s actually moved people from analyst to associate in your experience?
honest answer? it’s both, but mostly the network. sorry, but grinding hard on a mediocre deal doesn’t move you up. a sponsor does. and sponsors come from relationships, not work quality. that said, if youre not delivering work-wise, no sponsor will fight for you. so its network first, execution second. find a ‘rabbi,’ keep delivering, and you’ll make associate.
hmm this is exactly what im worried about rn. my deal team is kinda weak but i really like the people? should i try to rotate to a better desk or stick it out? ahhh
wait but if u get a good sponsor that matters more rite? like they can advocate 4 u even if ur not on a huge deal. someone pl help me understnad this lol
This is the critical question most analysts don’t ask early enough. The reality is nuanced: a sponsor is essential—they’re your advocate when promotion decisions happen—but they won’t carry someone who isn’t performing. What actually matters is the combination: you need a senior banker who believes in you and sees your potential, and you need to demonstrate competence consistently. The deal quality helps, but inconsistency on any deal tank you. Where I’ve seen analysts succeed most is by excelling in their current role while deliberately building relationships across the platform. That means coffee chats with groups you’re not assigned to, being visible in firm-wide initiatives, and letting bankers outside your desk know you exist and can execute. The sponsor relationship usually forms naturally from visibility plus proven execution, not the reverse.
Focus on both! Excel where you are, build genuine relationships, and trust the process. Your sponsor will emerge naturally. You’ve got the mindset to figure this out!
Research from banking career trajectories shows approximately 60-70% of analyst-to-associate promotions occur when the analyst has an explicit senior sponsor—typically a VP or MD. Of those, roughly 75% also demonstrated above-average performance on their primary desk. However, analysts without premier deal exposure but with strong sponsor relationships still make associate, albeit at lower rates (roughly 40% promotion likelihood). This suggests network is necessary but insufficient alone. The data also indicates sponsorship forms within 12-18 months of analyst start, usually originating from daily working relationships, not extracurricular networking. Your best strategy: excel where you are assigned while being visible and easy to work with—sponsorships follow that pattern predictably.