Do's & Dont's - 1st Year Private Equity AssociateSubscribe
There are a lot of posts on WSO about IBD, the internship, the do's & don'ts, how to handle PE recruiting, etc.
I feel like there is a lack of material on the do's and don'ts of being a new PE associate. I felt like this definitely would have helped me handle the transition, so just throwing some items out there - please pile on.
1. It's not banking but it still kind of is.
Chances are all the people you work for are former bankers; take pride in your slides when you put together memos, etc. People may say they don't care about formatting, but they do. Answer promptly with "sounds good" - it always sounds good. In the first few months, a little bit of FaceTime (not too much) doesn't hurt.
Having a good relationship with your portfolio companies is paramount. They have much stronger ties to the senior deal team members, and in many ways can be an easier bridge to impressing more senior decision makers at your firm. You can also learn how companies actually work from them, which will make you a better investor.
3. Shuddup (at first)
For the first few months, it is better to listen. Even if you were a rockstar analyst, no one wants to hear your opinion. Keep quiet and learn your team's quirks and the new political layout. There have been posts on here about the importance of being vocal early. I would caution against making that blanket advice. Know your own strengths and weaknesses here.
Pile on monkeys.