The How-To Guide To The Associate Promotion

After you first step in the door, most have their aspirations set to rise up the ranks.

The Associate promotion for an Analyst means a lot. You've heard the stories of the people ahead of you, and now you feel it's your turn.

But you're not looking forward to the countless hours of tedious work, and the lifestyle sacrifices, you're probably going to have to make.

The process isn't easy and takes time, but it's doable. We've seen it happen and experienced it.

The Rise...

Moving up the corporate ladder, and hierarchy is something that's probably important to both you and your career and will help you achieve the goals you set out for yourself.

Before we do, we'd like to help shape your mindset and indicate it's going to take time regardless of who you are, or what company you're at.

There is simply a process to it, and part of it is the time commitment the company is going to require from you.

We've seen people rise up the ranks, and become Associates, and we'd like to give you insight into how they did it.

Become a Great Analyst

This one is most important. The only way to become an Associate is by first becoming a great Analyst.

Seems pretty straight-forward, but many people tend to overlook it. By definition, you'll have to be promoted from Analyst to Associate, which means the best Analysts will receive that promotion.

Hint: View your Associate promotion as an investment, keep investing time, energy, and hard work until it pays off. It might be tough to grind through but it will be worth it in the end.

Run with Opportunities

The way it works is you first have to prove yourself, your work quality, and your work ethic. Then you'll start to be given more responsibility.

Usually, around the 6-8-month mark, you'll be responsibilities will increase a bit, then gradually more in around months 8-12.

Once you're given an opportunity, run with it, and take advantage of it. The whole company and deal team has been built on people moving deals forward.

When it's your turn, and your time to shine, show your capabilities to do the same and keep the deal moving.

Invest in Relationships

This one is a great way to move up the ladder. Most people overlook relationships and only focus on hard work or time they commit.

The people who usually get promoted to Associate first are the well-rounded Analysts.

After all, the company is going to invest in the people they believe have the most potential, and if they view you as just a number cruncher, the odds are going to be against you.

How to do it: You're going to want to start building relationships with the senior people and try to give valuable insight when you're in important meetings.

Model the Associates

Think about it, the best way to become an Associate is to be one and perform like one.

You can do everything an Associate does while you're still an Analyst, you just might not have the title.

Try to analyze deals the way Associates are, using the information that most Analysts aren't aware of.

The best way to do this is to ask as many questions as possible to Associates, VP's, MD's. Read as much as you can and study the deals you're working on.

Note: What Associates have over Analysts is experience and knowledge. It's going to take you time to get that experience and knowledge, but the behavior, work ethic, and habits you can start to embody.

Understanding the Connections between Metrics

As an Associate or VP, you're going to understand how everything is affected or interconnected.

You'll know how a reduction or increase in one will affect another one. 

This could mean how a change in tariffs or interest rates affect the production, the deal, the tax implications, or the growth of the transaction.

Seeing how all the numbers are interconnected will put you at the top of your class, and make you into a calculator in meetings, events, and negotiations, which is what most VP's, MD's, and CEO's are doing.

How to do it: Study the numbers, and see how the different metrics change, that way you can build a great foundation in the fundamentals.

Filling in for your Boss or Other Analysts

There's no better way to build your credibility and reputation then stepping up when someone else is out, especially if they don't have to ask you to.

By stepping up, you're showing the people around you that you are willing to sacrifice and take to the challenge.

If you can take on extra work and your own work as smooth and seamless as possible, you'll be given even more brownie points.

It's even better when it's your boss, so you can show them that you can handle more.

When they are on vacation, out of town, or just can't be do something that you can.

Our Tip: This will build your reputation and start to build trust with your superiors when you show you're capable of stepping up and handling an expanded role.

Make Yourself into a Resource

This one comes by learning the ins and outs of the job, and the position.

You can do this by becoming an expert in a certain industry, or asset class, but once you become an expert, you'll be included in important meetings people think you could provide value.

Once people view you as a resource and you can provide valuable insight into situations, you're on your way to becoming an Associate and rising up the ranks.

Side Note: It’s all about value, the more you bring to the table, the more you receive back.

Commit to Your Boss

At the end of the day, your boss is going to have the biggest say in your promotion.

If you want to become an Associate ASAP, you're going to have to make your boss happy and focus on helping him accomplish his goals.

You're there to help him do his job better, do the work he doesn't want to do, and make him look good.

If you're able to do all of those, and you work for a good person, you'll be getting a promotion soon.

Understand it takes time, but it will come.

Conclusion

The Associate promotion is part of the process and the game.

Getting it can sometimes take longer than expected.

People, including us, are always looking for instant gratification.

We see a world where results are praised and displayed, but what goes into them isn't.

It's often difficult for the beginning Analyst, to understand the world, and how it works, but it’s important to at least begin to.

Unfortunately, you have to put in some time, some not so fun years, and some tedious work in order to get to where you want to go.

Even though you may feel as if you're in a tough predicament, especially managing life for the first time, and being on the bottom as an Analyst, if you adapt to it, you'll get to where you want to go.

It might not be fun and require some grit, but if you want it bad, and are willing to sacrifice early on, you can get there.

Use some of our strategies to help yourself get the promotion you want.

There's no need to embody all of them, they are just ideas that can help get you that Associate promotion.

Most companies or bosses will recognize your effort if you embody one of the strategies we suggested.

It might not be instant, but if you apply them for an extended period of time, you will get there.

After all, the industry standard is to be promoted to Associate within 2 years.

If you want it faster, you'll have to do something different, which is where our strategies come in to play.

Best of luck.

You can make it happen.