How long does it usually take to become a vice president (VP) at J.P. Morgan? If you’re in the investment banking division, you might possibly be able to make it within five years thanks to the newly truncated analyst programme, although several J.P. Morgan associates were still promoted to VP after seven years last January. If you’re in the sales and trading division it’s more variable, but there may be one way of jumping the queue: quitting one bank as an associate and joining J.P. Morgan as a V.P.
The latest person to pull this off is Liesbeth Baudewyn, a former associate from Credit Suisse’s programme trading business. Baudewyn just joined the Hong Kong office of J.P. Morgan Asset Management as a vice president. She started full-time at Credit Suisse in London in 2012 and only became an associate there in June 2015, making her ascent (reasonably) impressive.
J.P. Morgan has been building its equities sales and trading business and now ranks equally in first place with Morgan Stanley. Credit Suisse ranks between 7th and 9th according to Coalition. Baudewyn is, however, working for J.P. Morgan’s asset management division where she’ll focus on equity trading and analytics. Nonetheless, it looks like a big step up – both in terms of rank and bank.
Program traders are being squeezed by algorithms and the incursion of electronic trading teams onto their territory. Although Credit Suisse has been strengthening its equities business this year, second tier trading houses are also expected to suffer under MiFID II. If you can get out now, and get promoted, good luck.