Managing absurd feedback?
Hey everyone - looking for some guidance on managing poor end of year feedback. Ignore the title, but I'm a newer VP.
I'm at a newer fund based on the West Coast. My end of year review was deemed "below average" despite working on and closing multiple significant deals. I'm fine taking feedback but the situations cited were all pretty marginal / not really my fault (i.e.. MD made an error to IC in describing an equity structure which was then blamed on me presenting faulty work, non-responsiveness defined as taking up to 15 min to return a call on Sunday, the font size on decks I produce are too small).
I did some backend triaging and my written feedback from other directors / MD's was largely quite positive. Basically one MD had extremely strong negative opinions that tilted my review (all examples above were related to few instances I directly worked with him). Additionally, have been told the firm is making a push to an "intense" work culture so feedback broadly was tilted-negative.
Anyway - I was told that the firm will have a check in within a few months to see how I've digested the feedback and if changes have been made. This place has fired people out of the blue so I think this is a genuine check-in. Folks have any thoughts here? Am thinking through if I should double down here or lateral somewhere else (though worry given the tenure here was quite short).
You should start looking for a new job. If a powerful MD wants you out, you're going to end up out.
Sounds pretty toxic. You might be better off elsewhere anyway.
I’d start looking, main reasoning is I think that one MD passed the buck onto you. If that continues it could get bad. 15 minutes response time seems within reason unless you knew he’d likely call wanting an immediate response - which means it would’ve been planned. I’m regularly on stand by to produce materials if the PM is in a meeting without me. The issue is if the expectation is communicated to you.
I’d always review someone else’s work if they were going out and you’re familiar with the subject matter - doesn’t matter if they’re a senior person to you or not. I’m a big fan of reviewing work. Sometimes people have a clearer way of phrasing things. Also, a second set of eyes always helps. That means checking the output or reviewing any templates to ensure everything is working as they should.
Ultimately, I don’t think this would cost your job but clearly you will be expected to meet the MD’s expectations. While looking, I’d try to set up time with the MD to make sure you know what they’re expecting. Even if you don’t have anything that you’d be involved in it is good to know. Then have an honest discussion with the other MD’s that gave you a good rating, ask about where you’ve failed. The initiative will be helpful but you will be held to those standards. The overall reason to start looking is some people don’t let go of things and also their expectations may be unrealistic. Finally, if that on MD holds a grudge and has input in your advancement then you could be screwed. At worst,iIf they’re ever looking to cut heads and he can spin your reputation sour then you could end up on the chopping block.
15 min response time on a Sunday is completely fine.
Thanks yeah on the reviewing work point - i was quite bothered there. I sat down with the md walked him through the structure, sent a detailed overview of machanics, then in IC he mischaracterizes. Later when reviewing I noted it wasnt x that he described and he went on a yelling streak about how i cant be producing inaccurate work lol.
If you can entirely avoid being staffed with him you might be fine. Otherwise start looking. Sounds pretty shit anyway
The firm is actively moving to have an “intense” culture? So it is trying to be a worse place to work?
Yeah... head of fund had a rant about no one being quite good enough and he needs more across the board....
Yeah time to move
Reading that was a big red flag to me... I'd start looking
Sorry to hear about your situation. Maybe a bit off topic, but could you detail the circumstances that led you to this fund and if you were familiar with the culture prior to joining? Would be a great lesson for younger PE folks looking to move upwards into the VP role.
Whats the name of the fund so the juniors here know to avoid it at all costs in the future… 15min response time on sunday is insane contrary to what some other people think here… signs of an absolute donkey culture
Would second, this is insane
The sad thing is I recognize some of these critiques (directed at both myself and others) given I’ve worked at a couple places where feedback like this is not uncommon. PE is just full of bad apple people that can hold the smallest grudge, unfortunately.
I agree. The worst seniors I've worked with in IB are angels compared to the seniors at the PE firm I work at.
Bump
put a post it note on his keyboard that says "every dog has his day" and do nothing further. return to this thread in 3 months.
I don't have a ton to add beyond that most likely you will need to do some major ass kissing to the person who gave you a bad review or you may ultimately end up pushed out, but it's high specific to the situation so tough to fully weigh in.
i will say from personal experience, that closing and working on a ton of a deals is unfortunately not as valued highly by the partners unless the deal wouldn't have existed without you (i.e. you sourced it).
Partners view everyone below them as replaceable (and aren't 100% wrong to an extent, although i do believe you should reward people who do the brunt of the work if the work distribution is uneven), but unfortunately that means for us, it is better to have crushed working on a smaller number of deals than it is to do "ok" or "above average" on a ton of deals. I.e. if someone only worked on a 1 deal that closed or closed no deals that year but everyone that year thought that person did everything perfectly vs. someone who was stretched thinner and made a few mistakes as a result. At least that's been my obvservation, it may work differently at other places and obviously you shouldn't avoid work / coast. But try not to get overstretched on too many deals at once.
Is there an update to this story?
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