Summit Partners
Was hoping to hear the latest on Summit Partners as much of the info on the forum is dated.
Most interested in comp / culture & WLB / firm strategy / and fund performance. Aware that it's sourcing heavy so not looking to dive into that since it's covered extensively in a separate thread. Thanks!
Someone bump this
B
Based on lack of info, I feel like Summit has fallen out of favor. See a lot more about Insight / GA / TA Associates. What gives?
Speaking anecdotally based on the few people I know here/who recruited for GE, Summit just isn’t known for the best associate program. It’s known as a hard climb to VP and more sourcing heavy vs other top GE shops (insight / GA etc), and believe pay is a bit less too. Everyone I know who recruited for GE prioritized other places above Summit
What’s comp?
Bump
Can’t really chime in on the associate experience there, but I have a buddy that works there and he heads home every day at like 5-6 PM and logs in a couple more hours then he’s done. Very little weekend work. Seems like great work life balance, although take with a grain of salt as this is just my outsider perspective.
Summit Partners is still one of the best GE shops out there
Very sourcing heavy as an analyst, but heard it’s overall a good experience and great brand name on your resume.
Push for London
Any thoughts on GE healthcare team in Boston?
Have heard it’s almost 100% dialing.
Any update on the process for 2024? When do they typically recruit? Have heard they don’t use a headhunter
they take less pedigreed staff
Any update on associate comp?
Bump on comp
What would the VP role there be like from someone coming post MBA after UMM/MF?
I hear they still (in 2023!) do unbanked deals lol
hit me with two of those, take my 5x, never look back
They do unbanked deals b/c they hire a bunch of college interns and cheap junior talent to scour the Earth and harrass business owners to take meetings. Eventually, even a small % pay off and if you have enough meetings, you can make a living off of it.
I've always found them to be flakey in processes.
Summit used to be (5 years ago) a pure play comp with TA. Classic Boston-based bootstrapped minority growth equity.
Since then, TA performance has ripped. GA/Insight have also generally performed better.
So to answer your fund performance question, Summit performance has been good on an absolute basis but given the software / growth emphasis, the performance has not kept up with peers and you can see that in fundraising momentum.
Anyone know what their comp is?
I know someone in the London office who told me it used to be £75k base, which they increased a while ago to ~£85k. Bonus is on the low end but you also have a third component, which is a "sourcing bonus" that you'll receive if any of the associates sources a deal. That's an additional £2-4k per sourced deal. Apparently for associate 2 and 3 your base increases between £5-10k every year. Bigger base salary jump comes only when you make VP. One soft requirement for VP is to have sourced at least 1 deal during your associate years. Hope that's helpful
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