How to manage sharp elbows / bad culture
Hi all - I’m at a UMM fund that has a bit of a sharp elbowed / knife fight culture and having culture shock. Does anyone have any advice / guides on how I can manage this place? 2 & out so my time ends in 1.5 years but want to finish my 2 years without falling apart
Can't do anything about it unfortunately. You can only hope that you build a better relationship with your boss and boss's boss in the hopes that they'll be interested in being your sponsor/mentor and as such will be invested in your success and will help shield you somewhat. Finance is brutal and PE is even more brutal. Shops like Apollo, Ares, Cerberus, HIG, GIP, GTCR, ISQ, Levine Leichtmann, Platinum, Stonepeak, Veritas, etc. are among the absolute shit but this list doesn't do justice to all the other crap culture firms.
Your main takeaway is that you could and should do better DD ahead of your next gig. Make sure to do reference calls, including speaking with 'bad' leavers just to get the scoop on what it's truly like behind the scenes. You're never going to know a firm's culture until you're sitting in the seat though.
any idea of some firms that are more collegial?
Bain, Berkshire, Advent
Examples of some of the things you're experiencing?
Vaguely
1. Mid levels fight (openly) about capacity
2. a ton of gosssip top down. Mid levels and associates talk down about each other a ton.
3. Mid levels tie to our face all the time about literally everything
4. One girl had a complete psychological breakdown
.
Best generic advice would be to just take care of yourself best you can and keep a good (at least outward) attitude. Work out, pursue hobbies, date, sleep, don't drink much, etc. I would not expect this place to change so you can either try and lateral now to a place with more clear track or just survive the two years. I also wouldn't rule out the industry entirely from one bad experience so try your best to think about what you want to do next with as clear a head as you can.
Had a similar experience, did 1.5 years and made a lateral move where I'm much happier now. A few points in no random order
1/ Make effort to find at least 1-2 friends, both in your associate class and at the midlevel. Doesn't mean you tell them everything (you shouldn't), but it's someone you'd genuinely grab a beer with, and at the midlevel someone who may not be a lifelong mentor but who at least is willing to take the time to make you a good associate, you can get some real advice from, etc. Helps a ton and makes the experience feel way more human vs. PE cog in a machine
2/ Start figuring out where you want your next move to be - strategy / geo / culture / etc. Light at the end of the tunnel. Spend time building relationships at these places (not blatantly reaching out asking for a job obviously) but I'm sure at this point you can get in touch with a decent number of firms through friends of friends, undergrad network, etc. They know why you want to talk. Just do it slowly, it'll give you more perspective on your current role too and by the time it comes to leave you'll have a much easier time
3/ Compartmentalize work. Maybe it's a hobby, S/O, family, etc. have something you can look forward to when you do have the time on a weekend. Easier said than done, but helps you keep perspective as well. I personally have a pretty time-intensive hobby where very few finance folks lurk (i.e. not golf) and much enjoy it / made a few close friends.
4/ Figure out the secret sauce of your firm and commit to learning it. The brands that people talk about on this website do each have something they do really well that got them there, even if culture has gone to shit. Try to take away what that is in addition to the standard PE skillset and you'll come away at least having felt like you made the best of it
Great advise, thanks!
I want to know more about your hobby
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