Incompetent Manager - not sure what to do
Since starting as an analyst, I quickly learned my VP above me does not understand financial concepts well. They have no base concept of really basic fundamental finance. The best way I can describe it is it’s as if they knew that the derivative of x^2 is 2x, but they have no real understanding of why this is the case and even what 2x even means in relation to it being a derivative. I am honestly surprised this person has gotten this far without being noticed. It’s starting to get a bit ridiculous and making it hard to do my work because there are problems that arise and they are always useless when I try to bring it up so I take care of it myself. I want to tell the team principal but not sure if that’s a good idea. The problem is that this person is liked through the firm and the MD likes this person a decent amount. Any thoughts? Would like to hear if there is anyone who has a similar experience.
What kind of financial concepts are you referring to. This job isn’t rocket science.
I would not recommend going above this guy if as you mentioned he’s well liked.
Don’t wanna go into specifics just for anonymity, but think really fundamental concepts (discount rate, accrued interest, reading a PnL statement correctly). Appreciate advice though, I guess I’ll keep quiet and just try to be well liked.
Was your VP by any chance a MBA associate / recruit?
Haha no but lateraled into the job, prev was doing smth a bit different in back office
People are always liked for a reason, finance isn’t just about the financial concepts unfortunately. I would recommend just sticking it out. Try to be well liked as well.
Appreciate the advice, will try to go that route instead. Have you experienced anything similar to this or know people who had? Just trying to get some reference points
Your initial instincts that they are stupid is probably correct. There are a ton of idiots in private equity given how large and bloated the industry is now.
Chances are the Principal and/or MD might also realize the VP is stupid as well. However, you are too junior to bring it up and go over the VPs head.
Unfortunately, no great advice in this situation. I recommend trying to avoid working with that VP but if you can’t swing that b/c the group/firm isn’t big enough to make that work, then you should just try to learn what you can from that person. They somehow got the job, there must be something they can teach you.
They may have soft skills that make them valuable at the firm. At the top ranks, the financial minutia is not as relevant - it's not what drives deals, sourcing, fundraising. Seems that person skipped a step, but many people think that they can rely on their juniors to do all the math / modeling / accounting for them.
It took me many years to see that not all senior people understand the financial details, and they still are successful enough to climb the ladder. As long as they can pretend they sort of get it, that is enough, and they are rated based on another criteria than you are at the junior level.
As above post, try to learn what this person does best. Why are they well liked by people at the firm? Are they great at communications, building rapport, influencing, strategy, big picture ideas?
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