Senior Associate / VP Promotion Process
2nd year in IB about to start at an UMM (~$10B fund) PE firm in the summer. It’s not a strict 2 and out program and there are people who have been promoted to Senior Associate / VP. I’m curious to hear when Associates find out if they’re being promoted or need to lateral / get an MBA. Is it 12 months in? 18? What are the most important things that differentiate Associates getting promoted vs. ones that don’t? Any insight would be greatly appreciated.
Typically 12-15 mo. in for Senior Associate nod in a two and out program.
I was told at my 12 month review they were planning to promote. Then they formally gave me an offer at 15.
Was told at first year end review that I was on track if performance continued to be strong, then at second year end review it was official
I have ben told that I'm on tack for SA at various points during my time at my fund, and at the formal review at the end of 2022 they told me that I would be getting the SA offer at the conclusion of the 2 year program, assuming I choose to stay.
How do you go about competing with the rest of your associate class for limited promotion spots? Not in a malicious / negative way but genuinely curious how folks go about differentiating themselves from a pool of top bucket former IB analysts? How do you go above and beyond? Is some of it just luck / staffings?
There is a baseline of competence that is expected of everyone in PE that is quite high and it’s really hard to differentiate on pure technical skill and work product. The biggest two areas where you can stand out are:
Idk about all of the Greenwich and old boys club stuff that was mentioned here, I suppose if you’re at a firm in NYC or Boston that’s certainly true, but not everywhere (certainly not on the West Coast). This comment was spot on when highlighting that likability is everything and they, being a Partner, will almost always choose someone they like even if a little less competent. You really have to just bite your tongue, smile and say yes to every opportunity given to you for two years while also being genuinely engaged. They want the person that always shows up with a good attitude and the part about complaining is real, even if in passing.
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