Summit/TCV/TA up or out?
Got a few questions about firms operating on the smile and dial model.
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How many deals are you expected to source a year for them not to can you? Deal value may be a more important metric than deal ##?
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How far along can you bump along the Associate -- VP track without being a major rainmaker? At what point, if you are not a major profit center, will they just can you?
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Critics of this model say it's glorified telemarketing with little deal experience -- in the worst case (if it is indeed telemarketing), what exit ops are there for an Associate/VP that has been squeezed out of the firm?
No specific quota that I know of. Basically you just hound CEOs of prospective companies and update a CRM database with the 411 on your conversation (call or e-mail). I'm sure someone on her can give you a more concrete number.
You do two years as an Associate and then go to b-school. Most shops (specifically the guys you mentioned) are pretty good about helping you get into school. If you are good, then they might ask you to stay an extra year. If you are a super star they will ask you to stay. Good Associates that go to b-school will be asked to come back, usually as a VP.
It is just dialing for dollars. As an Associate you kiss a lot of frogs, but it actually builds character. As for deal experience, you will just do all the modeling. If you execute on the deal, then maybe you will have some monitoring responsibilities. Remember, as an Associate, you're only around for two years. If you are fired, then there are plenty of smaller shops that will take a guy from TA/Summit/TCV.
Just curious, why didn't you include Insight? If I had to rank them, I would go: Insight, TA, TCV, and Summit. Summit has a good rep as a firm, but performance blows since the management transition between 1999 and 2001.
Hope this helps a bit.
Thanks DJ, no reason I didn't include Insight, just didn't think of them.
Being that this is going to be a dialing for dollars kind of model, what kind of earnings (base, bonus, carry) are we going to be talking about at the associate/VP level? Glassdoor, etc. are all over the place on this one and I can't find any reliable stats.
And beyond other growth equity shops, are there exit opps within industry?
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