Analyst to GP: How to actually climb the VC career ladder

Hi! I’m glad you’re here. You’ve made it to issue #69 of VC Demystified🪄.

My name’s Nicole - I’m a Principal at an early stage venture fund, and I know firsthand that VC can often be a black box. Breaking into the industry may feel daunting and resources can seem scarce and inaccessible. I wanted to put together a newsletter to give others the playbook I wish I had when I first started.

Today’s deep dive: Breaking down the real skills, metrics, and mindset shifts you need to go from analyst to GP in venture capital

^{My personal mission is to open as many doors as possible for other people and this newsletter is just one avenue to do that. As always, I will continue to post VC insights daily for free across my socials.}

Read time: 5 minutes

Breaking down the real skills, metrics, and mindset shifts you need to go from analyst to GP in venture capital

Few understand what the career path in VC actually looks like once you get in.

Unlike banking or consulting, VC doesn’t have a clear, linear path. Promotions aren’t guaranteed. Titles vary across firms. And while you can technically go from analyst to general partner at the same fund, it’s rare and each jump requires a different skill set, mindset, and reputation.

Here’s what the progression usually looks like:

Now, let’s dive into what changes at each stage and how to position yourself to move up:

1) Analyst / Senior Associate (0-3 yrs) - Learning & Leverage Building

Core Role: Support the deal process while building the trust, knowledge, and network that lets you influence decisions later.

What You Do Day-to-Day

• Source deals via cold outreach, founder events, and co-investor intros

• Build market maps and sector deep dives

• Pull comps, model scenarios, and prep diligence memos

• Sit in on founder calls and take notes for partners

How to Stand Out

• Volume & Quality in Sourcing: Track hit rate (% of sourced deals that reach partner review). Top performers can point to 2-3 portfolio companies they originated or influenced.

• Value-Add Early: Be the person founders remember for a helpful intro or insight, even before the firm invests.

• Speed & Accuracy: Deliver research or data requests fast, with zero errors.

2) Vice President / Principal (3-7 yrs) - Owning Deals & Sectors

Core Role: Lead deals from first call to IC, own thesis areas, and win over founders.

What You Do Day-to-Day

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