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The company has a brand to protect. If we aren’t confident you can represent us well at the next level, why would we push you up a level and give you more ownership of client interaction and deliverables
Chief
The biggest revenue driver is also decreasing the time to partner. The faster you can promote partners who are ready and able to grow the business, the bigger the pie is for everyone.
It’s not about cost. It’s about making sure you’re ready. When a firm has to fire you for being promoted too early and being underprepared for the next role, it means you messed up a client project. That’s the cost firms are avoiding, not the cost of your salary.
How about this: you can still proof yourself at the next level while being in your current level, if you know what the expectations are of the next level then start doing it and show it. The title and extra $$$ is the confirmation
Agree. And to pile on from strictly and educational standpoint so we can help this Analyst be successful beyond probably bring a solid analyst relationships are about building trust with others. Trust = (credibility + reliability + intimacy) / self interest. Consider the equation including the denominator.
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Better than this
Chief
No one promotes faster than McKinsey, OP
Chief
Haha, was just a guess, not that many places use the BA title.
Rising Star
That is terrible logic and would put us at risk with clients, in addition to negative impact to our reputation
Lol random take. But yeah I’d agree.
It’s all about $$$.
Company doesn’t want to pay you while you give it a try
The model only works because some people are too scared to leave because they buy the company messaging and stay underpaid for years
Company gets a great deal if they don’t promote you and you were forced to stick around because of covid. Also people at the next level are buffoons.
Agree with this statement, but it doesn’t make it good for the employee lol
I would prefer the option to choose because it depends on how responsibilities change across roles. If I am an analyst moving to consultant in a firm where senior consultant is the post-mba title, responsibilities change little, so sure, might as well take an early promo. But if I go from M to SM or SM to P/MD, and sales become a big deal, and you get ousted for missing a target, then readiness matters more.
I agree that choice would be fine. But firms don’t even give the choice nowadays. They just hold people back until they threaten to leave with an offer in hand or have been in the level way too long.
Getting fired is never the best way out unless you have another offer lined up and can double dip on severance and sign on. Otherwise it’s a fail on your resume that requires explanation not to mention a potential income gap and lack of negotiating leverage
You are also likely to find that a couple weeks is not enough time to get an interview much less an offer even at your level and as you get more senior it can take months and possibly a year or more even on a decent economy. In a down economy much longer
This assumes a vacuum of information and no back door reference contact with your prior employer. At your level that could work out as you get more senior you’ll find the world is a small place indeed
I guess it would be hard to tell who to promote “too early”? Assuming everyone is performing on level, then how do you pick who to promote?
This is moreso when you have a strong performer who has not completed years in level or someone who has completed years in level but is good but not great. Seems like most firms opt to hold these people back rather than promote, which results in high turnover.
Performance isn’t only about analytical skills and deliverable creation. It’s also about being able to develop strong relationships in highly networked environments. If your company didn’t promote you it’s either because they didn’t deem you ready, you didn’t have the relationships and hence visibility, or they had limited slots and didn’t prioritize you willing to risk that you might leave. At your level getting promoted early isn’t all the big a deal anyway except for short term dollars. If you like the company you should stick it out. If you don’t then you should leave anyway. Just remember the grass isn’t always greener
Rising Star
I’ll take either or as they come. What’s the rush, man?