The ladder to the top is more or less the same for all sizes of bank.

1-Analyst or Trainee. These are usually young graduates, responsible for calculating companies' financials. After an average of three years, and on proving more than just analytical skills (such as leadership potential), they move to the grade of Associate.

2-Associate These typically have a team of analysts in their charge. MBA students often enter this position directly. Three years are usual in this position before moving to the next level.

3-Vice President These are in charge of the daily running of the associates and analysts and have contact with the client. In this position, employees must prove themselves in order to progress further as this can be a sticking point in a career.

4-Diretor/Executive Director Genuine aid to the MD, client contact is of a more important nature and those in sales and trading have far bigger trades to place.

5-Managing Director Typically the highest paid position.  Those who make it this far have proved their capacities to generate revenue and are simply the best performers.  Some high-driving employees enter this position in their 30's.

Although this is true for banking careers, traders for example can earn even more than an MD