So I've read some threads on here recently that highlight what NOT to do (http://www.wallstreetoasis.com/blog/how-to-be-tha…, et al...) as an associate. This begs the question - what makes a great associate great? I'd love to get different perspectives (analysts, other associates, etc...) on the matter. Also, are there things specific to a product/coverage group that make a difference here?
Cheers, BR
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First and foremost, someone who can manage upward. Someone who appreciates the amount of work that something with little value-add will take and identifies a more efficient way of presenting the same point. Also, someone who's willing to get their hands a little dirty and help out from time to time to get things done under a tight deadline rather than rolling a grenade your way and taking off.
Calling Analysts: What makes for a good Associate? (Originally Posted: 06/20/2017)
Incoming post-MBA associate at a top tier NY BB. Answer however you wish, but interested in:
1) What associates do you like working with?
2) What associates do you not like working with?
3) Slightly different from #1, what makes for a good associate (i.e., who do you want on your deal if you go buyside, are an VP/MD, etc.)?
4) Assuming I am in it to make MD, want the best deals, highest bucketing, etc., how much does reputation amongst analysts matter in my associate years?
In all seriousness though, the best associates i have worked with do a good job managing the process / senior deal team members and have a clear understanding of the deliverables. They also don't just let s**t roll down hill and dump a bunch of needless work on the analysts. You also need to be willing to do "analyst" work when its a fire drill or your analyst is tied up on higher priority items for other deals.
Worst associates basically do the opposite of this. I cannot really speak to 4 and likely varies firm to firm, but it will never hurt you to have a great reputation with the analysts.
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What makes a great Associate at a credit-focused sponsor? (Originally Posted: 11/25/2017)
Starting up at a credit-focused fund shortly (mostly private investments; lending against assets of firms w/ great mgt teams). Curious what makes a great Associate at such a shop outside of the boilerplate "attention to detail", etc. Thanks.
Hi BuyersRemorse, hope I can help. Do any of these links cover what you're looking for:
More suggestions...
Hope that helps.
I’m an associate in corporate banking, but ultimately the credit skill set it similar and in reality both corporate banking and credit funds are similar in that they are using their own money to fund and hold the loan (or bond). Understand credit agreements, really learn them. A credit agreement is there to be your shield. If it is designed well it will prevent cash from leaking out. Based on what you said it seems like you’ll be doing ABL lending, no? If so try and understand collateral quality. Also try and get a fundamental understanding of the business, what differentiates it from its peers, what are its risks and mitigants. Also unlike equity investors we don’t have as much upside, it’s all about defense.
What makes a great associate great? (Originally Posted: 01/21/2008)
I'll be taking a post-MBA associate position at a mid market bank and do not have prior investment banking experience. I was hoping that those of you who are/were analysts could let me know what characteristics you observed in the great Associates that you worked for.
Similarly, I would appreciate input from current Associates and their superiors with regard to the abilities and traits that make a great Associate.
Thanks.
Danny_ish, is that you resurrecting your post under an alias after being disgraced off this board? Or are you just too lazy to use the search function?
http://www.wallstreetoasis.com/node/10383
Nope not danny-ish, so I guess the latter accusation is on point. But this is a great thread, thanks for pointing me to it!
How to become a Top ranked associate? (Originally Posted: 07/03/2011)
Hey guys, Ive recently been promoted from analyst to associate in a US based BB firm.
Looking for some advice on how things change now for me in terms of role expectations. Life seemed pretty straight forward as an analyst - check the numbers, do the hours and you are pretty much through, so just wondering what it takes to be a top ranked associate?
Also given where the banking scene is headed, any tips on how to protect myself from redundancy would be really useful!
Cheers
Just make sure you swallow and remember to massage the balls
Keep in mind that you are now someone's boss, and have to act the part. If there are any contests from other analysts, feel free to get as Machiavellian as you can, but it's much more likely that your authority will be embraced by the analysts because you 'get it'. You have now gone from a mostly utilitarian role to more of a political + sales support mindset.....
So, I'm not able to give much advice related to IB but this is a very common concern in many other careers as well. I have had the fortunate ability to be in a supervisor position for more almost 10 years now and ever step is more difficult. Getting promoted from within the ranks of your peers is always difficult. You now have the double duty of not only following but also leading effectively. Balancing old friendships and new responsibilities can be tough.
Number one thing you can do to help you quick is learn to delegate. Assess which analyst are better at certain tasks and use that resource to the max.
Next always remember where you came from. Don't start treating subordinates poorly just because you can. Remember you are now responsible for the work of others as well as yourself. Your boss is scrutinize your work and your ability to manage at the same time.
I would take a moment and sit down with your boss and get a clear picture from them as to what is expected of you now. Most leaders that are worth a damn will take the time to explain it so they dont have to correct deficiencies later.
The position will be what you make of it. Congrats on the promotion.
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