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Citi to Fast-Track Junior Bankers to Associate
Original: citi
Citigroup is changing how it promotes junior bankers, moving analysts up to associate rank after roughly two years instead of the traditional longer wait. Reports say the bank will promote even moderately performing analysts on that timeline as it competes with private equity firms and hedge funds for talent. The move follows similar steps by Wall Street rivals trying to slow attrition of young bankers to buy-side employers offering better pay and hours.
Why now: Citi's accelerated promotion policy is new and touches an ongoing Wall Street talent war with private equity.
CitigroupBloombergeFinancialCareersprivate equity firms
Evidence
- Now Citi will promote even its moderately good analysts to associate after two years · eFinancialCareers
- Citi Speeds Junior Bankers’ Ascent in Fight With Private Equity · Bloomberg.com
Elsewhere
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