What is the appropriate post-MBA title for me?
I am joining a LMM/MM private equity firm after finishing my MBA from H/S. I didn’t work in PE prior to b-school, but I did work in finance in structuring roles (think IB and S&T hybrid).
What do you think is the appropriate title? VP is out of the question, but I’m wondering if associate or senior associate would be more appropriate? How much does this matter / is it the wrong thing to get hung up on?
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Based on the WSO threads discussing career progression in private equity, the appropriate post-MBA title for someone joining a lower middle market (LMM) or middle market (MM) private equity firm, especially without prior PE experience, would typically be an Associate. Here’s a breakdown of why this title is more fitting and the implications of title in the PE industry:
Associate vs. Senior Associate: Given that you have not worked in PE before, but have a background in finance from roles that blend investment banking and sales & trading, the title of Associate is more aligned with your experience level. Senior Associate positions often require some direct PE experience or more substantial deal-making responsibilities that you might not have been exposed to yet.
Importance of Title: In the PE industry, titles can be quite significant as they often reflect not only your role and responsibilities but also your progression and seniority within the firm. While it's important to have a title that reflects your role, getting too hung up on the title rather than the actual responsibilities and learning opportunities can be a distraction. Focus on what you will be learning and the types of deals you will be working on, as these are crucial for your growth in the PE sector.
Career Progression: Starting as an Associate post-MBA is a common pathway, and it provides a solid foundation to understand the nuances of PE investments, deal structuring, and portfolio management. Excelling in this role can lead to promotions to higher positions such as Senior Associate or Vice President over time, depending on your performance and the firm’s structure.
Advice for Transition: Since you are transitioning from a somewhat related field (IB and S&T hybrid), focus on leveraging your existing skills in financial analysis and structuring while actively learning the specific aspects of private equity. Networking within the firm and finding a mentor can also accelerate your understanding and integration into the PE environment.
In conclusion, while titles are important markers of career progression, the substantive experience and the skills you develop are far more critical for long-term success in private equity.
Sources: BB VP to PE Associate, PE Senior Associate - What next?, A2A - what has been your experience ?, Confessions of a former second year IB Analyst, How to not get stuck at VP
In my experience, LMM and some MM funds post MBA put you at the VP level... particularly if you already had a finance background pre-MBA. All anecdotal evidence though
That’s helpful. Has that been true even if the finance background was not PE / traditional IB?
Very firm dependent. LMM HC PE firm that I know brought on an MBA as a VP. His only experience was in consulting pre-MBA. At the end of the day title is all semantics...I'd rather be paid VP money as a senior associate than vice versa.
For sure—I’d have no problem with that. A firm I’m talking to is offering associate title and associate pay, which feels very low when I had the same title and pay 4 years ago
I agree that sounds low. I would say turn it down, but the hiring market is rough right now. Try to respectfully tell them that you made that pre-MBA and you expect more. Worst case is you take the job and try to lateral with a firm that pays more in line with street post-MBA. Regardless, glad you got a job...really tough time in this industry.
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