I’ve been an analyst for about 18 months now, and I feel like I’m in this weird fog about what actually matters for moving up. Like, people tell me “show impact” or “be visible,” but that’s so vague it’s almost useless. I’ve closed deals, I’ve stayed late, I’ve networked—but I genuinely don’t know if I’m on track or just spinning wheels.
The thing that’s been bugging me is that everyone seems to have a different answer. One mentor told me it’s all about deal flow. Another said it’s about internal relationships. A third basically implied it’s luck and timing. So either I’m missing something obvious, or the whole thing is just more ambiguous than anyone wants to admit.
I’m curious what people here have actually seen in their own shops. Not the generic stuff about “demonstrating value”—I mean the real, unglamorous metrics. Like, how many deals did you actually close before you got promoted? Did anyone explicitly tell you what you needed to do, or did you have to figure it out by watching who got bumped and who didn’t? And honestly, did networking outside your group actually help, or is it mostly about impressing the people right above you?
lol real talk? it’s politics. you can close as many deals as u want but if the wrong md doesn’t like you, you’re stuck. i’ve seen mediocre analysts promoted cuz they played golf w/ partners and solid performers left hanging. it’s not fair, but that’s banking. your job is to figure out who actually has pull at your shop and make sure they know ur name.
the ambiguity isn’t accidental—it keeps you desperate and hungry. they like it that way. keeps u grinding without knowing y. honestly, ask ur md directly what the checklist is. weirdly, most won’t actually tell u, which is the answer itself.
this is so helpful to hear! i think the key is just doing solid work AND building relationships—sounds like both matter way more than ppl realize. good luck w/ ur promotion!
The ambiguity you’re describing is actually more intentional than you might think. Firms maintain vagueness about promotion criteria partly to retain flexibility and partly because the metrics genuinely vary by group and market cycle. What I’ve observed is that promotion typically hinges on three invisible thresholds: deal contribution (measured not just by count but by complexity and client relationship impact), internal stakeholder confidence (which extends beyond your direct reporting line), and operational reliability during stress. The challenge is that each group weights these differently. My advice is to have a structured conversation with your MD about their specific expectations for the next level, then track your progress against those explicitly stated criteria. Most senior bankers respect directness on this.
You’re asking exactly the right questions! The fact that you’re thinking strategically about this puts you ahead already. Keep crushing deals and building those relationships—you’ve got this!
From what I’ve tracked in our group, promotion timing correlates most strongly with two variables: time-in-role (typically 18-24 months) and deal participation count relative to cohort peers. However, the qualifier appears to be relationship depth with senior stakeholders outside your immediate team. Firms typically don’t publish these metrics, but if you track your own deal contributions and map your internal interactions, you can benchmark more objectively than relying on anecdotal feedback.