Doing Good in PE, But Feel like Not Enough??
It is weird because I am constantly getting good feedback from my direct VP and Partner. I also received top rating and they ensured I have a future at the firm and will not be shoved out...
However, would a truly stellar PE associate essentially make his VP's life just a breeze? We are mega busy and usually swamped and I notice there are workstreams my VP will just pick up and do, grinding in the weeds of Excel or even making powerpoint pages. If helpful my team / vertical is just me, him, and our partner. So maybe he is obviously expected to be heavily involved and in the weeds? I just envision an ideal scenario where I literally do 99% of the outputting and he just reviews and gives thoughts. I feel like a bad associate or I am not doing as good simply because I see him grinding hard too. I constantly ask like any thing I can take off your plate, or feel free to patch me in on anything keeping you awake, etc, and nothing.
It sounds like you're doing a great job, but you're overthinking the dynamics of your team. Based on the most helpful WSO content, here’s what you need to know:
Team Structure Matters: In a lean team like yours (just you, the VP, and the Partner), it's natural for the VP to stay heavily involved in the weeds. This isn't necessarily a reflection of your performance but rather a function of the team size and workload. In smaller teams, VPs often have to juggle both strategic oversight and execution.
Stellar Associate ≠ VP Doing Nothing: Even the best associates won't completely eliminate a VP's involvement in execution. VPs often take on tasks because they have specific expertise, want to ensure quality control, or simply because the workload is too much for one person to handle. Your VP grinding in Excel or PowerPoint doesn't mean you're falling short—it likely means the team is just swamped.
Proactive Communication is Key: You're already doing the right thing by asking if there's anything you can take off their plate. Keep this up, but also consider being more specific. For example, instead of asking broadly, you could say, "I noticed you're working on [specific task]. Would it help if I took a first pass at it?" This shows initiative and makes it easier for them to delegate.
Focus on Value-Add Tasks: As highlighted in WSO threads, a great associate focuses on high-value tasks like thinking critically about the deal process, optimizing materials, and anticipating what the VP or Partner will need next. If you're already doing this, you're ahead of the curve.
Feedback and Ratings Speak Volumes: The fact that you're getting top ratings and positive feedback from your VP and Partner is a strong indicator that you're doing well. Trust their judgment—they wouldn't give you high marks if they didn't believe in your abilities.
Don't Overthink It: It's easy to fall into the trap of comparing yourself to an idealized version of what you think a "perfect" associate should be. Remember, PE is a team sport, and no one person can do it all. Your VP's involvement doesn't diminish your contributions.
In short, you're doing great. Keep being proactive, focus on high-value tasks, and trust the feedback you're receiving. If your VP and Partner are happy with your performance, you should be too.
Sources: Strategy& Compensation Updates, Just got laid off from my 3rd PE job in 4 years - help!, Q&A: Associate at MM Private Equity fund, Q&A: MBB to MM PE, My Path - MBA Banking Associate to PE
I wouldn’t read so much into it.
The VP is usually the quarterback on the deal, and that’s exactly the role he is playing. He needs to think both “big picture” and be knowledge of micro details so that he is not caught off guard when speaking to IC.
Your VP sounds like a great person on the job - he’s getting into the weeds and creating slides because that’s how he adds value to the process.
Your VP is able to do the above because you are also allowing him space to “think” - which is more important as you move up the ladder - rather than focus on “processing and creating” models. For instance, if you were doing a weak job, that would take away time from doing higher value add activities.
As a way to learn, pay close attention to substance of the slides he is creating - i.e., what’s the “so what?” takeaway of said slide. This will allow you to go into his brain and apply that same “way of thinking” on the next deck. You will be come even better if you start picking up on things like this and, soon enough, you’ll be a VP yourself and thinking along the same way.
This is a truly great and helpful comment, fully agree with everything you said… but I couldn’t laughing at a magic school bus esque scenario of an associate shrinking down into the size of a cell and going into his VP’s brain
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