Sunday, 28 July 2013

Wall Street Oasis - Investment Banking & Finance Community: How to make VP in Private Equity

Wall Street Oasis - Investment Banking & Finance Community
The Wall Street Finance Community where investment bankers, consultants, traders, private equity and hedge fund professionals come to learn and play. 
How to make VP in Private Equity
Jul 28th 2013, 08:00, by labanker

private equity vp.jpg

A few weeks ago, I shut down my ThinkPad for the last time, turned in my security badge, and said farewell to my colleagues – and to private equity. I found myself in a position in which many private equity associates find themselves every summer: thanked for my efforts, praised for my "excellent work as an associate," but ultimately admonished that there wasn't a "path to VP for me," and it was time to move on. Such is life.

Nice as it might have been, the senior ranks of private equity probably weren't a long term fit for me. But while it might not have been a fit for me, I know that is not the case for many on this board – securing a slot as a VP en route to partner at an established PE fund is that holiest of holy grails. In that vein, I thought I'd offer a few tips on making the transition, given I've seen a lot of advice on how to break into PE, but not a lot of advice about how to stay there. I may have not made the cut myself, but after going through the process, I think I have a pretty solid idea of what it takes. This is tailored to a private equity associate, but a lot of it applies to just about any situation where you are trying to make the leap from junior guy to senior manager – investment banking, corporate development – wherever. So let's get to it.

You first need to

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