How long does it take to make VP in an investment bank? Based on last year's salary and bonus survey from London recruitment firm Arkesden Partners, the average is anything between 5.5 and 6.5 years. At Morgan Stanley, Arkesden said the average is 6.5. However, some special people receive priority treatment.
Morgan Stanley isn't commenting, but we understand that only three of the bank's associates were fast tracked in Europe in the most recent round of promotions. And they're not all in London.
Hubert Buiatti was given a speed-promotion at Morgan Stanley in Paris. Heimo Hepfer was given a speed-promotion at Morgan Stanley in Frankfurt. And Siyuan Tang was promoted ahead of time at Morgan Stanley in London.
All three had been associates for only three years and eight months.
A Morgan Stanley insider says the expedited promotions date back to 2018, when Morgan Stanley shortened its analyst cycle from three years to two. "At the time, the bank extended the associate cycle from 3.5 years to 4.5 years, meaning that the time to make VP was unaffected," he says. To compensate, the bank now fast tracks a few associates each year.
Getting fast tracked is partly about working on a lot of deals, but it's also about visibility. "It requires decent senior buy-in to make it happen," says the insider.
Morgan Stanley VPs receive salaries between $190k and $250k. Bonuses for VPs are more likely to be multiples of salary than bonuses for associates.
Photo by Kenny Leys on Unsplash
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