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Typically it’s 3 years from Associate to VP, so given you just joined in April, you’ve probably got a few years before you will even be considered. That’s assuming you came in as a first year associate. We would need to know more about your background (YOE, etc) and what was agreed to during the interview / offer process.
Your comp is way under market as you point out so it’s hard to know what a VP would make at your firm. Typical street pay is: associate 1 base = $175k and increases to $225k by third year. And then you jump to $250k as a VP 1. So it’s a big jump from associate 1 to VP, but it’s not so big from associate 3 to VP
I really appreciate your feedback. I’m coming from an FDD, public audit, and CPA background. I’m very thankful for getting into IB and am looking forward to the potential this will bring. I’m also trying to be cognizant of what pay I am capable of and don’t want to settle for low pay longer than I need to. Is it fair to consider a lateral to a larger firm once I get a year under my belt?