Veritas Mid/Senior level culture
I’ve heard some horror stories about them at the associate level and anecdotally that it doesn’t get much better until you’re a partner. Anyone have any intel? Would also appreciate thoughts on comp, career trajectory (eg path to promotion, internal politics, room in partnership ranks, etc.)
My understanding was no path to partner, just crank as mid level and make $ but just word of mouth
the culture is much better than at Sycamore Partners
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It attracts mid to senior level people who are willing and think it’s acceptable to treat associates the way Veritas is known to treat their associates. Culture is defined by how you treat the lowest people in your hierarchy not the highest.
How do they treat them? What are the horror stories people are referring to? Is it yelling and screaming, or worse
Heard mid-seniors are treated as bad/worse than associates...and associates are apparently treated like APO used to treat their associates, for comparison's sake.
What do you mean by used to at APO, what time period is the comparison to -- has there been a change lately?
The culture is crap at Veritas because Ramzi, the head guy, is an absolute nutjob. Culture always flows from the top-down. It's survival of the fittest there and you'll get paid for sure, but not sure if it's worth it.
nutjob in what way? screamer / works 24/7 / or something else?
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No white collar firm, especially in the US, has actual tough culture compared to military or blue collar jobs where bad culture is getting your ass beat. WTF are people talking about here? Some partner doesn’t hug you every day and it’s a source of complaint. Grow up.
Echo what folks have said above. The main issue for terrible culture and work life even at the mid level is limited autonomy in deals. It’s really Ramzi’s show and everyone else is along for the ride. Ramzi needs to sign off on pursuing deals super early in the process, which sounds nice in theory until you realize it means creating very buttoned up IC-ready materials…just to decide whether to pursue an opportunity before putting in a first round bid. Other MFs typically will let partners make that call and then go to IC if they make it out of the first round. On top of that, Ramzi staffs the deal teams so even MD/P have limited chances to make names for themselves
Have worked across from them. They are not nice people. Absolutely phenomenal returns tho.
I have a good buddy who was a midlevel there but has since left. Comp is above market. Path to partner isn't really there but sounds like you can make good money as a principal or lateral elsewhere with the brand. Internal politics and culture are very tough, echoing some of what other commenters said. Midlevel hours are as bad as associate on average, but sounds like things get a little better once you make principal which takes 5 years or so. Signing up to work there is basically trading quality of life and maybe mental-physical health for comp and prestige, not an uncommon choice in this industry. However, most people want more of a balance - my buddy noted no post-MBA hires in the last 5 years or so have lasted there more than a couple years.
I don't have any insight into what it's like to be a midlevel employee there but I did grab coffee with a very senior person at that firm and I've never been more intimidated in my life. For context, I generally am pretty composed and am working as an MF PE analyst when I graduate in June. Among everyone I've ever talked to in finance -- MF PE group heads, founders of SM HFs, etc -- this person was the most intimidating and frankly scariest person I've ever met in the industry. Incredible offices though: dead on northern facing views of Central Park. Just probably wouldn't work there myself.
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