Is my promotion a one-way ticket to the snake pit?

Dear SOD,

First, a quick disclaimer. I am not a doctor, although I did feel as if I had taken a kind of Hippocratic oath when I agreed to write for GlobalCapital. So, consider this advice in the spirit of a seasoned observer rather than a licensed professional.

Your situation sounds less like a personal failing and more like crossed wires inside a large bank. One senior leader makes an offer with a certain scope and title, you accept in good faith, and then other constituencies start to qualify it after the fact. Nobody wants to sit down, principal to principal, and have the serious conversation needed to resolve the discrepancy. Instead, the role gets partially downgraded through hints, delays, and vague comments about needing to “earn it”.

That is frustrating, and it is also familiar. Investment banks are full of blurry boundaries. People protect territory. They compete for revenue attribution, deal credit, and internal influence. Empires are built in small increments. In that environment, it is not unusual for a role that looks clear at the top to become contested once you get closer to the ground. I’ve seen this kind of thing many times over the years.

The real issue is that you have lost trust. You’re no longer evaluating the move based purely on career progression; you’re understandably concerned that you will be walking into a constant internal political battle just to define your perimeter and keep it intact. That instinct is not irrational. When a bank cannot align internally before you arrive, it increases the probability that you will spend more time managing stakeholders than doing the job you were hired to do.

So, I’m with you up to that point. However, the most important thing now is to remove emotion from the decision. You feel let down, and rightly so, but resentment is not a strategy. You need to step back and look at the offer objectively, as if you were advising someone else.

Start with the fundamentals. What exactly is the position you are taking on? What is the scope of responsibility in practice, not just in a slide deck? Which products, clients, and regions sit inside your remit? What decisions can you make independently, and what requires consensus?

The reporting line matters even more than the title. To whom do you report day-to-day? Who will be responsible for evaluating you? Who has the authority to protect the role when internal turf wars inevitably break out? A strong reporting line with real sponsorship is worth more than an inflated title with weak backing.

Then get clarity on compensation. What are the expectations for year one? What are the performance benchmarks that will determine your bonus and your overall trajectory? Is this role viewed as a true step up, or as a sideways move dressed as a promotion? In investment banking, it’s not the hope that kills you; it’s the ambiguity, especially around pay and metrics.

You should also ask directly what changed. Not in an accusatory way, but in a factual one. Was the original offer miscommunicated? Did someone object after the fact? Are there overlapping mandates with other senior bankers? You do not need every detail, and you shouldn’t dwell on it too much, but you should try to ascertain whether the bank is capable of supporting you or whether this snafu is a prelude to more problems down the road.

If you decide to reconsider, the only sensible path is to force clarity now. Have a conversation with all relevant parties, not just your global sponsor. Push for alignment on scope, reporting, and expectations. Get as much as possible confirmed via email or in writing. Banks don’t like these issues to be memorialised when things are fluid, but that is exactly why you need it.

Walking away purely out of bruised pride is almost never productive in an investment bank. But walking into a role where the perimeter is contested and the support is conditional carries its own risks. The decision comes down to whether the bank can give you real clarity and backing.

If they can, the move may still be worth doing. If they cannot, staying put, or looking externally on your own terms, may be the more rational choice.

Steadily yours,

Craig