The promotion cycle in investment banking (IB) varies depending on the bank and the specific role however, it typically involves several stages over a number of years. Your career will generally include the following stages:

Analyst: This is an entry-level role and generally requires a bachelor´s degree. focused on supporting senior bankers in executing deals and providing financial analysis. Analysts typically have a 2-3 year cycle before being considered for promotion.

Associate: After successful completion of the analyst program, an associate is responsible for leading smaller deals and projects, and tend to take on more responsibility. Associates typically have a 3-4 year cycle before being considered for promotion.

Vice President (VP): After successfully leading on more complex deals and demonstrating solid leadership and strong deal execution skills a VP will generally take on a more senior role where the lead a team and manage client relationships. VPs typically have a 4-6 year cycle before being considered for a promotion.

Director: Directors are responsible for leading teams and executing large and complex deals, as well as mentoring and coaching junior bankers. Directors typically have a 6-8 year cycle before being considered for promotion.

Managing Director: This is the most senior role in investment banking and are responsible for leading teams, executing complex deals and managing client relationships. They also play a key role in business development and, have a significant impact on the overall performance of the bank.

It is worth highlighting that the promotion cycle in Investment Banks is highly competitive, and not everyone who starts as an analyst will make it to managing director level. Also, the above-mentioned promotion cycle and progression is just a general guideline and can vary depending on the bank and the individual's performance.