What percent of MF associates make VP
How much is burnout/different focus and how much is churn?
if it’s so hard to make VP, why go from IB?
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15-20%
so where do all those ppl go? And how much if that churn is people choosing not to continue?
smaller funds, hf, corporate, mba
Agree - I work at a bank that's closer to bottom of top 10 vs top and so not a ton of MF exits....but still have not seen an analyst yet that used to work for me make VP at the same firm they exited. A shockingly low number of prospective PE associate understand the odds they face but most people are programmed to believe they're likely to be a top performer.
Hence why I actively encourage analysts to pursue what they find genuine interest in, not chase a seat for “prestige”. When you care about the work you do, it makes it monumentally easier to find yourself in that 15%-20% because it will show in your product. This only becomes more true the more senior you get. Partners across each group at a reputable shop will likely be pulling down very similar comp, so find what you love and do it well. That’s the key, not “optimizing” for anything else.
What % of associates make VP among those that want to?
That is the real question. At my firm, pretty much anyone that wants it makes it. It is just that a strong majority don't want to stay in finance for more than 4 years as they value both their waist and hairline. I, for one, am also pretty fond of my hair...
Out of the 9 people in my analyst class that went into PE 3 remain at SVP level. Out of the other 6, 1 turned down a VP promote and another 2 took the hedge fund route off their own accord and are still into. So I'd say 3/5-6 who wanted to stay in PE, stayed
Out of 9 people in my associate class in PE, 2 are at the principal level at the same firm. 5 are VPs/Principals at other firms (would characterize each of them as peer firms), 1 is at an equivalent seat at a hedge fund, and 1 split off to do something entrepreneurial (fundless sponsor). Of the 7 that went elsewhere, 2 had the option to stay on post-associate.
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