Senior Banker vs. PE - Difference?
Could someone lay out the main differences between senior bankers (VP+) and PE VP's? I know that bankers have to be good salesmen and play politics well, but how much of that carries on to senior level at PE firms?
Could someone lay out the main differences between senior bankers (VP+) and PE VP's? I know that bankers have to be good salesmen and play politics well, but how much of that carries on to senior level at PE firms?
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PE VPs since they are on the buy side work very closely with management of companies they control.
Depends on the shop. If you are talking about a larger PE shop (talking large MM group - think Platinum Equity, HIG, etc.) there are plenty of MDs to drum up deal flow, so VP will be more focused on the execution and working with existing portfolio companies.
If it's a smaller shop, the VP may be more involved in sourcing potential investments and BD activities (fuckers call me all the time and I'm still an Associate).
Thinking about it, you'll realize there aren't much differences between VP @ PE and IB from an external/internal workload comparison. What really drives it is the size of the shop.
So, a smaller IB group needs that VP to be more active in the community, trying to drum up deal flow for the firm and find opportunities to pitch. If there are many MDs, he'll be more in charge of leading the day-to-day aspects of the M&A process (i.e. driving the deal).
PE VP's call you all the time?
So at a smaller PE firms (~1B firm) are do VP's need to be good salesmen then, just like senior bankers? Just wondering because I'm not sure that I fit the mold of a super outgoing, highly outspoken, aggressive salesman.
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