Struggling PE Analyst
Hey guys - for background on me, I am a first year analyst at a MM PE fund. Since starting in January, I've found myself struggling with the responsibilities that are being given to me, and frankly feel that I am performing poorly.
When I signed on, the idea was for me to do the standard 2 years as an analyst, and assuming good performance, be given the opportunity to be promoted to associate. I am increasingly feeling that this is unattainable based on the massive skill gap between myself and the associates at my fund. I did not have an IB background before joining the fund, and unfortunately my group does not have a formal structured training program to address that shortcoming. This has led me to feel like I'm being staffed on workstreams that I'm incapable of completing without hand holding, and often results in one of the associates having to bail me out and complete the task for me (e.g. being told to complete granular data cuts / analyses that I don't fully understand, trying to pull together anexplanation, etc.).
I am trying to figure out how to a) bridge this skill gap through self study / proactively seeking some form of training from my fund or b) think about lateral opportunities that would provide a stronger foundation to make the jump to associate. I really want to avoid the lateral given that the fund is a great cultural fit and seems to offer a lot of upside if I can stick it out. I'd also ideally want to avoid lateraling to IB given that I have a direct shot at a PE associate position, but I understand that many might argue that it is a necessary hoop to jump through in order to be successful on the buy-side.
With all that in mind, I'm wondering if any former PE analysts from MM / less structured programs have advice for how to develop the skillsets necessary to succeed during the analyst years, as well as seamlessly make the transition to associate. I want to make the most of this opportunity and don't want to throw in the towel before exploring every alternative, but I also want to be realistic and make sure that I'm making the right career moves for a long term position in the industry.
Would really appreciate any suggestions or advice you guys might have - thanks!