I’ve been grinding as an analyst for about 18 months now, and I’m starting to see the wall everyone talks about. The promotion to associate doesn’t feel inevitable—it feels like there’s this unwritten checklist that nobody actually explains. I get that deal flow matters, that your performance matters, but I keep hearing that networking is the real differentiator. The thing is, I’m not entirely sure what that means in practice. Are people actually promoting analysts who are well-connected, or is that just something we tell ourselves? I’ve had maybe a dozen coffee chats with more senior people, and honestly, they’ve been useful for understanding different groups and getting context on how things work, but I can’t point to a single conversation that directly moved me closer to promotion. I’m wondering if I’m approaching this wrong. Are there specific people I should be targeting—like, does it matter if I’m networking with people in my group vs. outside? Should I be strategic about which senior bankers I reach out to based on their influence in promotion conversations? And is there a point where too much networking starts to signal that you’re not focused enough on your actual work? I’d love to hear how people who’ve made this jump actually navigated it. What did your network look like before you became an associate, and did you do anything differently in the months leading up to your promotion?
lol, honest truth? most of the networking stuff is theater. what actually gets u promoted is crushing deals and not pissing off ur MD. the coffee chats r nice for not feeling completely alone, but if ur work isnt there, no amount of networking saves u. that said, having ppl know ur name when promotion time comes definitely helps. just dont overdo it or u look desperate.
the unwritten checklist exists but nobody tells u bc it changes every year lol. promotions r political. yes, network, but focus on people who actually matter—ur group head, ur staffer, MDs doing deals u care about. coffee chats w random VPs? nice for ur mental health, not much else.
this is super helpful context. so ur saying the work comes first, networking is secondary? that actually makes me feel better abt not having 100 connections yet lol
wait so should i be reaching out to ppl in my group more or ppl outside? im confused on the strategy part
Your instinct about the unwritten checklist is spot-on. The analyst-to-associate transition typically hinges on three factors: demonstrated technical competence, deal flow contribution, and institutional visibility. Networking becomes valuable when it reinforces these fundamentals, not as a substitute for them. Strategic networking means focusing on stakeholders who influence promotion decisions—your staffer, group leadership, and MDs you work with—rather than broad relationship-building. The timing matters too; most promotions are discussed 3-4 months before they’re formally announced, so visibility should peak around that window. Outside networking can signal ambition, but internal credibility always comes first.
I’d also note that the best networkers at the analyst level are often the ones who help others—connecting analysts to resources, introducing people across groups, being genuinely useful without asking for anything. That kind of visibility sticks with decision-makers much more than formal coffee chats. It’s subtle, but it works.
You’re asking the right questions! Stay focused on great work, build real relationships with people in your group, and trust the process. You’ve got this!
18 months in means you’re right at the sweet spot for visibility too. Keep crushing it—the jump will come!
I also learned that signaling you’re thinking about outside optins during your analyst year can actually hurt. People want to promote analysts they think’ll stick around and become their future partners. I stayed quiet about my plans until I was already an associate, then started thinking about moves.
On your specific question about in-group vs. out-of-group networking: both matter, but for different reasons. In-group builds credibility and internal advocates. Out-of-group signals you’re valuable to other stakeholders and aren’t stuck. The optimal mix seems to be 60% depth within group, 40% breadth outside. Too much outside networking early can read as disloyal; too little makes you invisible to decision-makers outside your bubble.