What happens to the Associates that did their two years of IB and went to a sourcing heavy GE shop (TA, Summit, Insight, Silversmith etc.) for their Associate years and inevitably don't source a deal because of bad luck / market?
Is it a career ender? Are they competitive for post b school PE recruiting? Can they still move up market to better GE shops or try to go a buyout shop?
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Based on the most helpful WSO content, it's not necessarily a career ender if an Associate at a top sourcing shop doesn't source a deal. The key is to demonstrate a strong sales skillset and a knack for hustle.
As for post B-school PE recruiting, it's not just about sourcing deals. It's also about demonstrating your ability to roll up your sleeves and crank something out yourself. So, if you've got a strong work ethic and can show that you're capable of more than just sourcing, you could still be competitive.
Moving up market to better GE shops or transitioning to a buyout shop could be possible, but it would likely depend on the specific circumstances and the individual's overall skill set. It's important to remember that every firm is different and what one values, another might not.
In terms of making VP, it's possible if you're really good at sourcing. However, it's also important to note that certain firms have sourcing as a career track role from analyst to partner. So, if you're at the right firm and you're good at what you do, you could potentially make a career out of sourcing.
Remember, the world of PE is vast and varied. There's no one-size-fits-all answer. It's all about finding the right fit for you and your unique set of skills. Keep swinging from those branches, and you'll find your place!
Sources: PE Deal Sourcing Comp / Lifestyle, What separates the good from the great in Private Equity?, HF to PE post-MBA - my story and seeking advice (long-time poster)!
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