I’m wrapping up my second year as an analyst, and I’m starting to think seriously about making the jump to associate. I’ve been hustling on deals, my reviews are solid, but I’m realizing that promotion might not be as straightforward as just doing good work.
From what I’ve picked up from conversations around my desk, it seems like timing, deal flow, and who knows you matter way more than people admit. But I’m also wondering how much of this is just about performing well in front of your current team versus actually having the right people in your corner.
I’ve been pretty heads-down on work, honestly. My networking has been mostly coffee chats with other analysts, not a ton of intentional relationship-building with VPs or MDs who could actually influence promotion decisions. Is that where the real game is? How much should I be shifting my energy toward cultivating those sponsor relationships right now, and what does that actually look like at your bank?
wake up, your work doesn’t matter nearly as much as you think. promotions go to people who have a sponsor. doesn’t matter if you crushed every deal if nobody senior is vouching for you when promotion discussions happen. start building relationships with MDs now or you’ll be grinding another 18 months
this is important. i’m only an analyst but ive already heard that u need someone senior to fight for u. start asking for more senior bankers on ur deals intentionally
my mentor told me that the analysts who get promoted fastest are the ones who’ve already built relationships w partners and vps before promotion szn. just do good work and network simultaneously
The promotion from analyst to associate is fundamentally different from getting hired as an analyst. Your technical work is table stakes, but the promotion is a political decision. You need a sponsor—typically an MD or partner—who will actively advocate for you during compensation discussions. Start attending firmwide events, ask for coffee with senior bankers on larger deals, and let them see your work quality directly. Build this over the next 6-9 months, not in the last quarter before promotion cycles.
Great question! You’re already thinking ahead, which is huge. Start building those sponsor relationships now, and you’ll be in an excellent position soon!
I know a guy who killed it on deals but didn’t really network much. Didn’t make associate until his third year because he didn’t have a sponsor. Then he got paired with this MD on a big mandate, built a real relationship, and got promoted within six months. It’s wild how much one relationship can change the trajectory
The data is pretty clear: roughly 70% of analysts promoted to associate had an explicit sponsor relationship with someone at the partner level or above. Your current deal performance matters for demonstrating competence, but it doesn’t create leverage in promotion discussions. You need visibility with decision-makers. Aim to work directly with someone influential on 2-3 deals over the next year. Track which relationships develop into consistent check-ins or direct feedback.