Possible to skip year as associate?
I'm a first year associate at a MF trying to lateral to UMM. Would it be possible to interview for a senior associate role, thus bypassing my second associate year?
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It’s possible, I know people who were able to skip a year when lateraling (that same ASO > Sr ASO move) because they had multiple deals under their belt and were able to convince the new firm that they could handle running point on a process. As with everything, it’ll vary a lot by fund. I wouldn’t expect to do so if you’ve had run of the mill first year experience though
If there was any point at which it would happen, it is right now. Firms are desperate for associate talent, even if it means promoting someone 12-18 months into their associate stint into a senior associate role with significantly higher comp and guarantees of a VP role + carry in 1-2 years. Very high quality funds are having to make these moves (not Apollo types, but funds that are known for typically stronger quality of life) because of how much firms need experienced associates.
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