Equity Research - Jr. vs. Sr. Associate

so under the assumption that the progression is jr associate, sr associate, then analyst, what are the differences between jr. and sr. analyst? is it just a factor of time, or your involvment in the research/writing/speaking with clients side of things? has anyone got the promotion from jr. to sr., and if so, what were you evaluated on?

You pretty much do the same thing except that as a senior, you would require less hand holding and you may be able to hire a junior analyst/intern to do your dirty work.