Although the titles are not entirely uniform from firm to firm, positions at venture capital firms include:
General Partners or GPs - They run the Venture Capital firm and make the investment decisions on behalf of the fund. GPs typically put in personal capital up to 1-2% of the VC Fund size to show their commitment to the LPs.
Venture partners - Venture partners are expected to source potential investment opportunities ("bring in deals") and typically are compensated only for those deals with which they are involved.
Principal - This is a mid-level investment professional position, and often considered a "partner-track" position. Principals will have been promoted from a senior associate position or who have commensurate experience in another field, such as investment banking, management consulting, or a market of particular interest to the strategy of the venture capital firm.
Associate - This is typically the most junior apprentice position within a venture capital firm. After a few successful years, an associate may move up to the "senior associate" position and potentially principal and beyond. Associates will often have worked for 1–2 years in another field, such as investment banking or management consulting.
Entrepreneur-in-residence - Entrepreneurs-in-residence (EIRs) are experts in a particular industry sector (e.g., biotechnology or social media)and perform due diligence on potential deals. EIRs are hired by venture capital firms temporarily (six to 18 months) and are expected to develop and pitch startup ideas to their host firm, although neither party is bound to work with each other. Some EIRs move on to executive positions within a portfolio company.