Diff btw Senior Associate & Associate in PE?

Noob question, but what would generally the difference be in terms of job responsibilities (sourcing, execution, and portfolio management)? Talking PE here. What does the senior associate take the lead on, and what does the associate do? is the associate the senior associate's bitch? what is the criteria to be promoted from associate to senior associate or is it automatic? Asking for a friend. thanks

 

Usually no formal promotion. You become Sr. Associate after a year or two. Also makes it easier for lateral hires who you don't want to give away VP title to.

Difference is that you're better and have more experience. You;re expected to step up and act as a VP for some of the lower priority tasks. Run diligence sessions. Speak a lot more on calls / management presentations. Technically yes -- they're more senior than other associates but there's a line not to be crossed. Biggest advantage is that the Sr Associate probably knows what he or she is doing and the associate doesn't

JM28
 
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