PE Business Development?
Lately I've been seeing a lot of the larger PE firms have entire divisions dedicated to bizdev. Can anyone shed some light on what they do exactly? Exit opps, lateral movements, day-to-day, pay scale, etc.
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Was going to post a my own thread as well - but super interested in any feedback from the experienced folks on here about this.
I'd guess this varies significantly from firm to firm. At my LMM PE internship, the biz dev group focused on building relationships with potential acquisitions (bolt-on or platform). New relationships could be developed either through personal connections, conferences, or cold-calling. The junior guy's job was literally to cold-call companies in our target industries all day, often without much idea of a given company's revenue or profitability - this job sounded terrible and probably paid less than $75k. The senior traveled a good amount to conferences/trade shows and built up relationships to essentially hand off to the investment team. I'm not certain of her pay scale.
I can't really speak to exit opportunities beyond saying that I highly doubt these roles transition well to investment positions. As I said, this could be much different at other firms, particularly at larger PE shops. Hope that helps!
Business Development Comp in PE? (Originally Posted: 10/19/2017)
What is the comp range for business development associates at well known MM private equity firms in medium-high cost of living cities?
IBS310, sorry there are no responses yet. Maybe one of these topics can point you in the right direction:
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If those topics were completely useless, don't blame me, blame my programmers...
PE Business Development (Originally Posted: 04/16/2014)
Wanted to ask those in the industry. How difficult is it to get in a PE business development role? what are the common skill sets and requirements?
Thanks in advance
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Given there aren't that many of them, probably very difficult. Most in that role have some prior experience in PE/IB/Consulting from my experience.
The biggest skill is someone that is sociable. You are going to be on the phone constantly "catching up" with investment bankers and trying to drum up deal flow. You will be networking hard and assisting in marketing at various events across the country.
Bullet-Tooth Tony, what is your opinion on this position? How does compensation compare to deal execution? It seems like it could be a fun job. Lots of travel and relationship building.
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