Apollo Promotion
Saw some discussion on how Apollo offers a fast-track promotion path to principal/partner. Curious why they are able to do so (is it just more attrition?). Given the recent associate classes are larger and they seemed to do more lateral hires, will the promotion still be as "guaranteed" as it has been advertised? If there is competition, what happens to those who don't get put on the promotion track?
NO longer a guaranteed thing. From my understanding, there have been discussions around "what to do". I'm not sure if anyone that wasn't going to be promoted stuck around to see.
If you can survive Apollo for that long you deserve it lol
No comment on the viability of the track but on the accelerated promotion track (4 years to principal / 5.5 years to partner). 9.5 years is a long time but definitely gives time to really develop skillset. HFs are even faster.
I have friends in similar seats at similar firms who probably look at 1.5x the amount of opportunities I do where the IC process and memo process is much cleaner, they work 10-15 hours more a week than me, and are more thoughtful around the diligence.
Apollo works around the clock with super lean deal teams often times in processes where they are often the only bidder, so I would assume that experience quality for YoE is probably more advanced than at other firms. You also start getting dumped responsibility a ton earlier and sink or swim so that helps as well. Lastly personality and "maturity" probably don't matter a ton for promotion based on the Ceasars book so probably alot less thought around certain type of politicking. That being said, with the horrific culture and hours, I could not and never would do it.
What's YoE?
Years of experience.
There is actually a ton of politics that go on there to be frank. The associate experience is top notch though for the reasons you outlined, which is part of why they exit so well
This is correct. When Leon was there, all folks on track for promos etc had to be endorsed by one of the people in his circle. This circle was mostly certain partners but not all given there was a world of politics in the senior ranks as well, thanks again to Leon. Not sure if it's changed now under Rowan but seems like he is much more focused on carrying out methodical and focused growth rather as opposed to Leon, who in his final years was like a dark cloud or shadow over everything that happened there.
In what kinds of situations does Apollo not have to face competitive bids?
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