Specific to ESM Finance: VP's and Directors hold their cards so close to their chest, their subordinates can not successfully do their jobs. This is due to the gamesmanship among upper mgmt through the company. Each is trying to "one up" their peer. Corp politicking is taken to the Nth degree at BMC. It leads to directors operating like analysts. Thus, managers and analysts suffer and their exposure is extremely limited. Delegation of authority and value add projects is non existent.
There is 1 VP and 2 Directors that run ESM finance. Unless you stay till 11 pm every night and have no life, you have no career advancement. FYI - these late hours are 80% for appearances. IMO it should display incompetence, since it takes you so long to do your job. This isn't life changing rocket science.
The "managing up" mentality feeds on itself. Yes, it is Corporate America, but BMC takes it to another extreme. Senior management is competent, but I've heard the CEO state "you can never put in enough hours, BMC should be your life" and it just filters down through management. They pay well - but not "investment banking" well.
In order to excel and be in line for advancement you must accomplish 2 things:
1) Work LONG hours - not to add value, but to make it LOOK like you are
2) Get lucky and be selected very early on that you can join the inner circle.
Everyone else gets stuck for life.....good luck.
