Can you break into Corp Dev without IB experience?
The title says it all - can you break into Corp Dev without IB experience? If so, how? B-School pivot? Focusing on a specific industry? Would love to hear from those who have experience with this and have done it.
Absolutely, you can break into Corporate Development without Investment Banking (IB) experience, although it might be a bit more challenging. Based on the most helpful WSO content, here are a few ways people have done it:
Top MBA: Many companies hire for corporate development roles out of top MBA programs. This could be a great way to pivot into the field if you don't have direct experience.
Consulting/IB Role: While not necessary, having a consulting or IB role can be beneficial. These roles often provide the analytical and strategic thinking skills that are valuable in corporate development.
High Performing Internal FP&A Analysts: Some companies also hire from within, particularly high performing Financial Planning & Analysis (FP&A) analysts. These individuals may or may not have an MBA.
Networking: Your ability to network can also play a crucial role. Engaging with multiple banks (IB and commercial), PE shops, activist HFs, and institutional investors can open up opportunities.
Relevant Work Experience: Having relevant work experience in the industry you're interested in can also be a pathway. For example, one user mentioned breaking into Corporate Development at a power generation company due to their Master's degree in Finance and relevant work experience.
Remember, every path is unique and what worked for one person might not work for another. It's all about leveraging your own experiences and skills to make the transition. Good luck!
Sources: Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, Corporate Development: My Experiences and Background, https://www.wallstreetoasis.com/forum/corporate/breaking-into-corporate-development-from-non-traditional-backgrounds?customgpt=1, Broke into Corporate Development, but behind my peers in experience
Yes, absolutely. Plenty of corp dev executives across many F500s have zero IB experience. It's just that IB to corp dev is the most straightforward and industry agnostic path because your core skillset is transferable. I have seen plenty of people go from ops to corp dev, but to your point, those people generally stay within the same company or at least within the same industry for years.
Definitely agree with the above. Tougher to be industry agnostic if you’re not coming from a banking background.
Engrain yourself in a specific industry sub-vertical, develop relationships with management among the top players & deal makers.
Find a way to get involved and your specific knowledge of the diabetic DME space, for example, will be far more valuable than any generalist healthcare banker.
At least that’s what has worked for me.
For sure. Plenty of ex-big 4 M&A tranny services/value creation gremlins lurking within corp dev
Can’t say I have ever heard it referred to as tranny services before
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