What does an Associate need to know to eventually become a successful VP?
I'm currently an Associate at a GE shop focusing on healthcare and want to come up with a list for myself of all the things I 100% need to know to be a successful VP one day. Business school will likely be required eventually but I'll cross that bridge once it comes.
I ask this question here because the depth of knowledge that my VPs have could only be collectively quantified as "experience" which isn't very helpful for someone who's trying to plot out a concrete path to reach a goal.
The last thing I want for myself is to wake up in 4-5 years and realize that I haven't leaned what I needed to learn or learned enough broadly.
That's a great question! To become a successful VP, there are several key skills and experiences you should focus on as an Associate:
Proactivity: Understand the next steps in both the deal process and portfolio monitoring. This will show your ability to think ahead and manage tasks effectively.
Ownership: Request to take an active role in tasks that are more VP-driven. This will demonstrate your ability to perform at the VP level.
Learning from Mistakes: Don't make the same mistake multiple times. It's important to learn from your mistakes and show professional growth.
Time Management: Balance your time appropriately. Make all deadlines and work both hard and smart. Efficiency is key, as your peers will be able to handle more on their plate.
Building Relationships: Build rapport with port co CEOs/CFOs and entrepreneurs. This is especially important if your firm does proprietary sourcing.
Sourcing: If Associates help source, then bring in deals. This will show your initiative and ability to contribute to the firm's success.
Deal Experience: As you progress, you should aim to lead the day-to-day workstreams on the internal side, own the model on a deal or two, and develop a voice on the deal.
Execution: A VP’s job is to be an “execution guru” - ie run the deal from start to finish. You should have a good enough understanding of the deal/model to know high-level what the impact of certain changes will be, and thus can guide the Analyst as required.
Remember, the journey from Associate to VP is a marathon, not a sprint. It's about gaining experience, learning from your mistakes, and continuously improving. Good luck on your journey!
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