Love Affairs in Melbourne-Chapter 83 - 80: Complex Positions

"Why do you keep falsely accusing me of hanging out with beauties all day?" Qi Yi complained somewhat helplessly.

"Why do you keep falsely accusing me of hiding you away?" Yan Yan immediately countered.

"So you’ve started to imitate the way I speak now?" Qi Yi was very pleased.

"What, officials can set fires but common people can’t light lamps?" With her cute pouting expression, Yan Yan finally appeared before Qi Yi.

"Of course not—learn however you wish," Qi Yi said with an indulgent gaze.

If he’d had a free hand, Qi Yi would certainly have reached out to touch the head of the owner of that adorable expression.

"It’s good that you know better. You just said you found me by using a mathematical method? I’ve been meaning to ask you how you found me in Melbourne last time," Yan Yan finally brought up the question that had puzzled her at their reunion.

"I just had to calculate using that photo you posted on your MSN space, but you live so high up that I hardly needed to calculate; drawing a few lines was enough to get a result," Qi Yi answered Yan Yan’s query.

"From the sound of it, you seem a bit resentful that it was too easy to find and too little to calculate," Yan Yan couldn’t quite grasp the concept that a photo and a few lines were enough to find where she lived.

"How could that be? I’m not dissatisfied about anything, and certainly not about finding you. I’ll draw it for you later," he said in a tender tone, with a gentle look in his eyes.

Yan Yan was somewhat captivated.

"Where are you staying this time?" Qi Yi asked Yan Yan.

"Conrad New York," Yan Yan named the hotel where she had made her reservation.

"Why would you stay at the Conrad?" Qi Yi found it a bit strange.

"What’s so strange about that? It was renovated this year; it should be pretty nice, right?" Yan Yan didn’t know what Qi Yi thought about the hotel.

"It’s not that. There aren’t many restaurants in that area, unlike the foodie that you are, that doesn’t seem like your choice," Qi Yi explained his confusion.

"Really? But the Conrad is closest to Wall Street! I came to New York to see you, not to go food hunting," Yan Yan playfully sought praise.

"I see, so the loved one’s presence fills you. Looks like we don’t need to eat," Qi Yi enjoyed Yan Yan’s coquettish behavior.

Qi Yi couldn’t help thinking if Yan Yan had been like this in high school, perhaps they wouldn’t have had as many dates at places like libraries.

"How could that be? My job was to come find you; your job is to take me to eat delicious food!" With a handsome man beside her, good food could not be forgotten.

"See, you gave yourself away. I’ve already consulted foodies since I arrived. Restaurants that require reservations definitely won’t work today. Those that have long queues aren’t suitable either. I’ve already found a few restaurants we can go to. Do you want Chinese or Western food?" Qi Yi was well aware of Yan Yan’s fervent pursuit of culinary delights.

"Take me to the first meal you had in New York," Yan Yan offered her suggestion.

"Uh, aren’t such first meals usually instant noodles?" Qi Yi wasn’t sure if Yan Yan was serious with her suggestion.

"My luck can’t be that bad, can it? Choosing instant noodles off the menu?" Yan Yan felt disconsolate.

"Wait and see when I take you; you’ll find out. How long can you stay this time?" Qi Yi asked the question that he was most concerned about right now.

"I just came to see you. I promised to attend your graduation, but I couldn’t make it, and I don’t want to waste the visa fee. I’ll leave in a couple of days; you’re still in training for your new job. I can’t give people a bad first impression of you because of me. I still have to depend on you to provide for me in the future. What would I do if you lost your job?" Yan Yan knew that Qi Yi would want her to stay longer.

But if she stayed in the United States for a while, it would definitely affect Qi Yi’s upcoming work.

"Do you think I’m the kind of person who needs to worry about leaving a first impression?" Qi Yi wanted to refute Yan Yan’s words.

"You might not worry, but I do!" Yan Yan’s tone was a bit exaggerated.

"What are you worried about?" Qi Yi looked at Yan Yan, quite puzzled.

"I’m worried that you’ll leave too good an impression, and someone will want to keep you as part of their harem," Yan Yan made a mock shocked expression.

"Just now on the way from the airport, a VP did offer me a position as an Associate," Qi Yi spoke of the proposal Ian had just given him. (note 1)

"Isn’t it common for undergraduates entering investment banking to start as Analysts? Can you really become an Associate directly?" Yan Yan’s expression went from shock to surprise.

"How do you even know these details about job positions?" Now it was Qi Yi’s turn to be surprised.

"Well, if you’re going to learn about fashion, of course I have to learn some finance. I specifically asked my cousin about it," Yan Yan’s face begged for praise.

"What did your cousin tell you?" Qi Yi asked.

"Not much. He said that undergraduates start as Analysts doing the basic analysis, and if it’s someone with an MBA from a particularly good school, like their Wharton, they might start as an Associate," Yan Yan repeated what her cousin had told her.

"There are many kinds of analysts in investment banking. An Analyst is the most basic position in the front office," Qi Yi explained.

"Front office?" Yan Yan didn’t quite understand the connection between an analyst and the front office.

...

note 1:

MD is a senior position in American investment banking, short for Managing Director, which is often translated as Director General Manager, and can also be understood as partner.

In American companies that have been around longer, there are more hierarchical job grades, because every three years, it’s time for a promotion, but in reality, there aren’t that many senior positions available for promotion.

So, it’s common to prefix various levels with Associate, Senior, Vice, etc., as a form of "consolation prize".

There’s a diversity of positions in investment banking, and the simplest promotional path can be summarized as Analyst—Associate—Manager—VP (Vice President)—ED (Executive Director)—MD (Managing Director).

MD doesn’t necessarily mean reaching the top. Americans can come up with things like Senior MD, or other positions—as long as someone occupies a position, it’s not appropriate to demote them, and if someone wants to move above that person’s position, just create a new position.

This kind of thinking is quite peculiar.

It’s not unique to investment banking; most large American companies have this culture.

Although consolation prizes may not offer much change in executive power, nonetheless, salaries keep rising without fail.