Help! I haven't been promoted

16 July 2009

1 minute read

I have not been promoted this year so now I am technically a fourth year M&A analyst. Upon enquiry, I was told there was a general promotion freeze (if so, there were quite a few exceptions from what I see). They do not seem to planon firing me (although you never know) but clearly there is a problem.

So if I try to follow Plan B and apply elsewhere, what do I put on my CV / in my cover letter? If I don't mention it, I come across as more junior than I am and end up applying for third year analyst roles. If I do, its hard to make it sound positive or, even worse, it may come across as badmouthing my employer. Does anyone have any advice?

AUTHORAnonymous

Insider Comment

oz
ozbanker
23 July 2009
My firm held back a number of analyst last year for 4th years. Those analyst got promoted up this year to Associate, although some of this years 3rd year analysts have been made to do a 4th year. What I see, is that they do not want to promote everyone for cost reasons, and so hold half the year back. If you knuckle down, you will get promoted next year. One year is not huge in the scheme of things
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.
.
20 July 2009
They want you out but don't want to pay redundancy. Your career is a dead end at this firm now. Problem is, you have been kicked and will feel disillusioned - if it hits your morale and productivity they will kick you again. Apply elsewhere and just say there was a promotion freeze if asked (keep a straight face while doing it).
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Mr
Mr Aces
17 July 2009
4 years in the same department, Man , u r really lost, get another job loser
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Be
BeenAround
17 July 2009
Non-promotion is when they do not want fire you (assuming this is M&A) as they rather not give you the redundancy pay. In my experience they must really dislike you. If an analyst in my team was not being promoted back then I would push for them to be fired as they would get the bonus + redundancy pay. Suggestion, do not stick around, you will not be given any responsiblity and all other analysts (& interns) will just make fun of you (saw this previously with a rather thick american A4 at my previous firm). Try and see whether you can get a good recommendation from an associate/VP or even MD (someone must like you there). Good luck.
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JC
JC
16 July 2009
this forum is always a good reminder of the number of narcissistic, self-absorbed t*ssers who work in banking :D
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