Most Important Skills for the Elusive Associate to VP Promotion
I am an An1 at one of the big three BB (GS / JPM) who has just accepted an offer to join a private equity associate program in two years. While I am mostly relieved after the grueling on-cycle process, I am still somewhat in the dark about what it takes to make it from Assoc to VP in a mostly 2-and-out program. Thankfully, I have had some pretty good deal experiences during my first few months on the job, however, I am still confused about what the most transferrable skills are from IB to investing. For these next two years, I would like to be as thoughtful as possible on how I can sharpen the tools that I will be using daily as an associate. Obviously, a lot of these will come naturally with time, like quickness with Excel or PPT. Still, I wonder, what are some of the more intangibles that VP and partners are looking for when they think about keeping an associate hire. Is there anything that I can do in my early IB days to give me more edge as an investor later on? I will be staying in the same sector, so I hope to become a lot more well-versed in those nuances, but I wonder if there is anything else that I can do to really make a great impression as a young investor.
Relax dude good chance you hate pe like everyone else and leave.
So edgy so Tiktok
Congrats on the new role, fellow monkey! Transitioning from an Associate to a VP in private equity can indeed be a tough nut to crack, but with the right approach, you can certainly make it. Here are some key skills and strategies that can help you stand out:
Proactivity: Understand the next steps in both the deal process and portfolio monitoring. Don't wait for instructions, take the initiative.
Ownership: Request to take on tasks that are more VP-driven. This shows that you can perform at the VP level.
Learn from Mistakes: Don't make the same mistake multiple times. Learning from your mistakes shows maturity and professional growth.
Time Management: Balance your time appropriately. Make all deadlines, work both hard and smart. Efficiency is key.
Build Relationships: Develop rapport with portfolio company CEOs/CFOs and entrepreneurs. If your firm does proprietary sourcing, then bringing in deals can be a big plus.
Independence: Start acting like an independent operator. Think about how to add value to your portfolio companies, develop direct relationships with management, think about different approaches to deal structuring issues, and come up with investment ideas.
Investment Opportunities: Begin building the muscle memory around identifying interesting investment opportunities, vetting them moderately, and bringing them to the table for discussion.
Remember, the goal is to show that you're not just another run-of-the-mill associate, but someone who can take on the responsibilities of a VP. Best of luck!
Sources: From Private Equity Associate to VP in Private Equity, Q&A: VP in Private Equity (Growth Equity + LBO)...Post-MBA...Formerly IB Analyst, HF to PE post-MBA - my story and seeking advice (long-time poster)!
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