Anyone else scared of their associates ?

I'm so scared of them if I ask them to do anything they're like nah doesn't make sense I'll do this instead and it's a half assed version that the partner will shit all over so I do it instead. They don't respond on weekends so i just cover the weekends. 
 

Instead of trying to figure something out themselves they'll just piecemeal ask me 10 questions over chat. 
 

I'm debating telling partner to just fire them absorb half the margin and give me half the cash comp and just do it all myself Apollo style ?

 

I assume you’re just venting but you certainly wouldn’t be the first person upset with managing junior resources in the current environment. There has been a very clear cultural shift in typical junior professional behavior and unfortunately I think you’re going to have to adapt your managerial style to accommodate. 

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

Are these first year associates (meaning they’ve had ~6 months to ramp)?

 

Can also relate, and I have relatively good associates. Feels like accountability goes out the window when it comes to weekends and VP is covering entire stack (doing models/decks and managing processes, Lenders, docs, etc) at a time when junior folks should be. I try to give detailed instructions but then that becomes a crutch and they don't develop an ability to handle ambiguity and don't think for themselves about what analysis needs to be done given deal dynamics. 

In a weird way vps have more to lose (i.e. actual carry) and so associates are fine with just letting things slip because vp will have to catch for them

 

I think you answered your own question, associates have less stake in the game (less comp, undefined progression, etc.), so why do you expect them to care more than you do ?

 

I expect them to pretend to care enough about it because they care about their own career.  If they care about their own career they will eventually want to get promoted. To do so, they need to prove they can add value in their current capacity, much less at a higher one..

 

The reality is that most associates know they aren’t sticking around to make VP. Hence the behavior.

 
Most Helpful

You see this more in large shops with “structured” associate programs. It’s basically banking 2.0. They are checking out to get their MBA or do startup or whatever after. And the shops have no room for most of these Associates to progress anyways (they all do their DD on how many Associates got promoted per class at your firm before they join). 

I don’t see this happening as much in HF land or lean LMM/MM shops where an Associate job by default means opportunity to make a lot more money in 2-3 years and a defined path to carry exists. Then it’s a different job than basically another 2 year internship.

 

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