Thoughts on ICONIQ Growth

Based on the most helpful WSO content, here are some insights to consider when evaluating an associate position at a growth equity or VC firm like ICONIQ Growth:

1. Promotion Path: Many firms in the growth equity space traditionally followed a "2 and out" model, where associates would leave after two years for business school or other opportunities. However, there has been a shift in recent years, with some firms moving towards direct promotion for standout performers. It's worth confirming ICONIQ's specific approach during your interviews.

2. Sourcing vs. Execution: The balance between sourcing and execution can vary by firm and role. Some growth equity firms place a heavy emphasis on sourcing, with associates evaluated on metrics like calls per week and companies added to the pipeline. Others may offer a more balanced experience, allowing associates to engage deeply in deal execution and portfolio management. Understanding ICONIQ's expectations for associates in this regard will be key.

3. Hours: Hours in growth equity roles can be demanding but are generally more predictable than in investment banking. That said, the workload can spike during active deal processes or portfolio reviews. It's important to ask about the typical hours and how the team manages work-life balance.

4. Culture: Culture can vary significantly between firms. Some teams are highly collaborative and supportive, while others may have a more siloed or competitive environment. To gauge ICONIQ's culture, consider asking questions about mentorship, team dynamics, and how associates are integrated into the decision-making process.

5. General Advice: When assessing a role, focus on the firm's approach to developing junior talent. Look for signs that senior team members are invested in mentoring associates and providing opportunities to learn and grow. A strong culture of support and development can make a significant difference in your experience.

If you're seriously considering ICONIQ Growth, it would be helpful to reach out to current or former associates to get firsthand insights into their experiences. Good luck!

Sources: Is this associate compensation competitive?, Q&A: Investment Banking Associate, H.I.G. Capital Associate Program Review, Good questions to better gauge culture and longterm fit of a startup PE fund?, Who is happy & satisfied with their current role?