Noob question, but what would generally the difference be in terms of job responsibilities (sourcing, execution, and portfolio management)? Talking PE here. What does the senior associate take the lead on, and what does the associate do? is the associate the senior associate's bitch? what is the criteria to be promoted from associate to senior associate or is it automatic? Asking for a friend. thanks
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Usually no formal promotion. You become Sr. Associate after a year or two. Also makes it easier for lateral hires who you don't want to give away VP title to.
Difference is that you're better and have more experience. You;re expected to step up and act as a VP for some of the lower priority tasks. Run diligence sessions. Speak a lot more on calls / management presentations. Technically yes -- they're more senior than other associates but there's a line not to be crossed. Biggest advantage is that the Sr Associate probably knows what he or she is doing and the associate doesn't
It depends on the firm. Some are just 3rd year associates while other firms have people rejoin from MBA for another 1-2 years as senior associates but at that point they're essentially a junior VP
It depends on the firm, in some of them it's not a formal title while in others it's a formal title where you are effectively a VP
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