I keep wondering if there’s a secret checklist that partners and MDs are working through when they’re evaluating who gets promoted to associate. Like, is it purely about the deals you’ve touched? Your technical skills? How many people know you exist?
I’ve been trying to figure out what signals I should be sending that I’m ready to level up. I see some analysts getting promoted and I genuinely don’t understand what they did differently. Were they smarter? Better networked? Did they just happen to be on the right deals?
I want to be intentional about this instead of just hoping things work out. It feels like there’s a matrix or criteria that matters, but nobody’s explicitly laid it out. And when people talk about ‘building relationships’ or ‘proving yourself,’ that’s still pretty vague.
Has anyone actually figured out what the real criteria are? What do you think actually tips the needle when partners are making those decisions?
There absolutely is a framework, though it varies by bank and group. Generally, partners evaluate four dimensions: deal execution (quality of work on live transactions), peer perception (how you’re regarded by other analysts and VPs), client presence (visible to clients, trusted on calls), and growth trajectory (improvement quarter-over-quarter). The mistake most analysts make is assuming technical excellence alone moves the needle. It doesn’t. You need visibility across all four. Partners want to promote someone who won’t embarrass them in front of clients and who the team actually wants to work with. That’s harder to game than pure deal count, but it’s also learnable if you’re deliberate about it.
honestly? it’s way more arbitrary than anybody wants to admit. sometimes it’s about who an md likes. sometimes it’s budget. sometimes a group just needs an associate fast. technical skills matter, but they’re table stakes. being remembered and having someone vocal advocating for you matters way more than people admit. the real criteria are usually politics wrapped in language about ‘readiness.’
wait so you’re saying deal quality, how people see you, client visibility, and showing improvement are the main things? that’s actually really helpful to know
You’re asking the right questions! Focus on doing great work, building relationships, and letting people see your growth. Partner recognition follows naturally when you contribute meaningfully!
I got promoted earlier than expected because I realized my group’s clients actually liked working with me on calls. That visibility mattered more than I thought. My MD mentioned it in my review—that clients specifically asked for me on certain deals. That was the thing that seemed to push me over: not just doing the work, but having external validation that I could handle client relationships. That changed how I approached my role.
Analysis of promotion patterns at bulge bracket banks shows that analysts promoted to associate within 24-30 months typically score high on three metrics: on 6+ client-facing deals, mentioned positively in 360 feedback by 8+ colleagues, and year-over-year improvement in deal metrics (execution speed, accuracy, proactivity). Technical excellence is necessary but not sufficient. Partner comfort with client-facing presence is consistently the differentiator between promoted and stalled analysts.