My PE fund doesn't have a VP title - how to position senior associate position for VP lateral recruiting?
I'm currently at a $2B fund started by European founders who have the title structure of analyst / associate / senior associate / principal and partner at the fund. The senior associate role here is effectively the VP equivalent role in any other fund, and comp is comparable as well with ~$3M of carry at work and comparable VP level cash comp, so effectively the title structure is analogous with BX PE for example where senior associates are VP equivalents.
However, as I'm trying to lateral, some headhunters are still pushing me towards senior associate roles that sit below a VP position, despite now having 4+ years of buyside experience (including traditional 2+2 through a megafund and H/S MBA). Would appreciate any thoughts on how to address this both on the resume as well as in interviews.
I mention throughout the resume that I manage junior analysts / associates on deals and lead deals directly with the partners (i.e. there isn't a principal directing the deal); but some headhunters and firms are too rigid with how they interpret a senior associate title.
Thanks
I don't have a solution for you, but just wanted to say that I'm facing a similar issue and would be curious to hear what people say. I was previously a senior associate at a US headquartered PE fund, but recently lateraled to the US office of a large European headquartered PE fund and my current title was matched to associate.
My European firm's title structure is basically:
When I get promoted in a year, my title will become senior associate (the equivalent of VP in the US), which is the title I already had couple years ago at my prior US firm... It's hard to explain to people and doesn't make much sense to me, so will be interested to hear what people think.
does your comp / carry match what VPs typically make at a US based fund? and are you staffed like a VP with analysts / associates below you?
I don't know if this is a solution but does listing your title on your resume as "Senior Associate (VPt Equivalent)" work or does that look like too much gamesmanship??
Right now I'm an associate (senior associate equivalent in the US), so my comp / carry is based is in line with US senior associates. I have analysts (associate equivalent in the US) staffed below me, and my firm doesn't have a junior level below that. Once I reach senior associate in a year (VP equivalent in the US), I'll be comped to the VP level and will have associates (US senior associates) and analysts (US associates) working below me.
I've actually seen some of my peers do what you suggested on LinkedIn (e.g. "Senior Associate (Vice President)"), although I thought it seemed a bit tacky haha. Also, if I put that on my resume, I'm not sure whether that would raise a flag during background checks...
I went through same conundrum while lateral recruiting recently. If you feel and truly believe you are VP level, then set your intentions clear and ask for it. Such levels are typically hired by recruiters, take your time explaining what you do and where your level is in the hierarchy. You might have to let go off positions stuck up on Sr Associate, until you get the VP rank.
In my case, I suffered through some serious imposter syndrome before snapping out of it and demanding what I deserved.
Thanks - this is resonating with some headhunters, but what are your thoughts on perhaps, on my resume, listing the title as Senior Associate - Post MBA or something equivalent to make the point that I'm not a 26 year old who's just done 2 years of PE and is just an "experienced associate"?
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