WetFeet Insider Guide Venture Capital


Venture Capital at a Glance
Opportunity Overview
• The venture capital industry is small and hires only a select few each year.
Traditionally dominated by seasoned executives, many firms consist only of
general partners and an administrative staff.
• A bleak picture for undergrads, though a few larger firms hire young people
to do some of their basic legwork and analysis.
• Not much better for MBAs, though a few recent MBAs have been recruited
right out of business school or have even started their own funds.
• Some opportunities for midcareer professionals with an excellent track record
in operating environments, since venture capitalists want seasoned industry
veterans with bulging networks and specialized knowledge.
Major Pluses about Careers in Venture Capital
• Work with some of the smartest people in business.
• Witness the formation of cutting-edge businesses and technologies.
• Be relatively sheltered from politicking and favoritism—it’s the bottom line
that counts.
• Over the life of a fund, make potentially dizzying amounts of money.
Major Minuses about Careers in Venture Capital
• Sink or swim. If you don’t produce, you’ll be kicked out, with skills that are
hard to transfer.
• Little upward mobility. Advancing to partner level is difficult.
• Not a popularity contest. The entrepreneurs will not always love you.
• VC can be a lonely business. Many insiders miss the sense of teamwork
within their companies.