I have been working at Summit Partners full-time
Incredible flexibility and responsibility from day 1 as an Associate. Have met 1-1 with CEOs of >$100m rev companies from the get go. Responsible for leading new idea generation
Incredibly approachable senior management. Guys that run the firm are more interested in drinking bud light with their friends than they are comparing private jets -- a concerted effort from the most senior deal professionals to get to know the most junior employees
The Associate role is the lifeblood of the firm. The most successful senior deal professionals were Associates and function as champions for the Associates now.
Massive upside financially if you source a deal. Shared incentive program that makes Associates more collaborative and less competitive than reputation leads you to believe.
Great combination of compensation and work-life balance. Unless you are on a live deal, you will have the time to exercise and get 7 hours of sleep during the week. Not a need to spend all Saturday or Sunday in the office.
Exceptionally nice group of people to work with -- can count the number of jerks that I've worked with here on 1 or 2 fingers, they have not tended to last long. Uniquely humble culture from my experience in PE.
Great reputation among the VC and PE communities -- Summit name opens an immense number of doors and the firm's investment track record is remarkably impressive when you get under the hood. Feel good investing both my time and personal capital in the business.
Below market cash compensation for a $3.5bn growth equity fund (at Associate level)
Pace of deals / number of deals per Associate is lower than many comparable firms. Greater odds you go through 3-year tenure without closing a deal / with only 1 under your belt than at many comparable firms
Advice to Management
Continue the efforts to diversify the talent pool. Yes, way too many white males right now, but also probably too much restriction on only taking investment bankers into the Associate position. Seems to be shifting a bit, and think this potential shift should only be emphasized further.
Typical interview process is several rounds. There are a couple initial phone screens with other associates or VP level people at the firm. If you make it past the phone screens, then you are typically invited for several in-person interviews with a range of individuals - associates, VPs, and principals/partners. If that goes well, then there is typically an additional day of in-person interviews with the managing partners before a decision is made.
Typical interview questions include:
- walk me thru your resume (keep response to less than 3 minutes)
- what do you think would be a compelling investment opportunity for Summit and why?
- walk me through a deal/transaction you have worked on (investment thesis, your role, valuation, outcome, etc.)
- additional questions will be asked to gauge work ethic, cultural fit, ability and desire to cold call, sales skills
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