Corp Dev job search at Sr. Mgr. / Director level
I was impacted by tech layoffs last year while working in Corp Dev at a PE-backed platform. I have 9 years of experience (2y MM IB, 5y Public Corp Dev, 2y PE-backed Corp Dev) and ~20 closed transactions on my resume. I have been searching for a new Corp Dev role for the past 6 months and despite going through a handful of interview processes, I have yet to land a new role.
Most of the interview I've gotten so far have resulted from me a) seeing a new job posting on LinkedIn, and b) quickly finding a connection who can refer me into the Corp Dev team or senior leadership to increase the chances of getting included in the process. Am I going about this the right way or is there a lot more I can be doing to try to find roles before they go live?
I am currently located in Florida since I went full remote post-COVID. However, I am open to relocation for the right opportunity. This makes it challenging to target a specific geography, so I've literally been applying to roles all over the country. My industry background is a mix of healthcare (med devices, software), and tech (DevOps).
Ah, the job hunt in Corp Dev can indeed be as tricky as a barrel of monkeys, but with your experience, you're swinging through the right trees! Here's a bunch of bananas... I mean, tips, based on the most helpful WSO content:
Leverage Your Network: You've got the right idea by using LinkedIn to find connections for referrals. Keep doing that! It's all about who you know in the jungle of Corp Dev.
Headhunters: Have you considered reaching out to specialized headhunters? They often have the inside scoop on roles that haven't been advertised yet.
Industry Events: Attend industry-specific conferences, webinars, or networking events. Even if they're virtual, you can still make valuable connections.
Alumni Networks: Tap into your alma mater's network. Fellow alumni might be able to provide leads or referrals.
Private Equity and VC Firms: Given your background, reaching out to PE and VC firms could be fruitful. They might be looking for someone with your expertise for their portfolio companies.
Targeted Approach: Since you're open to relocation, use a targeted approach by identifying cities with a strong presence in healthcare and tech. Then, focus on companies in those areas.
WSO Networking Guide: Brush up on your networking skills with the WSO Networking Guide. It's a treasure trove of strategies and tips.
Stay Visible: Keep your online presence active. Share insights on industry trends and engage with content related to your field.
WSO Job Board: Don't forget to check the Wall Street Oasis job board regularly for new postings.
Patience and Persistence: The Corp Dev field is known for its slow and deliberate hiring process. Keep at it, and don't get discouraged!
Remember, it's a jungle out there, but with your experience and a strategic approach, you'll find the right vine to swing to your next opportunity. Keep thumping your chest and making noise in the industry – your persistence will pay off!
Sources: Q&A: Corp Dev > Strategic Finance > VC, Are Corp Dev Careers dead-ends?, Corporate Strategy vs Corporate Development, CorpDev to PE prospects - creating a long-term map / success stories, Where are laid off people now
Have you tried working with recruiters? I am a FP&A manager at an energy/utilities/mining portco and found mine through a recruiter at one of the big accounting recruiting firms (Robert Half, Korn Ferry, etc.). There are also market or finance specific boutique recruiters, some that have been mentioned in the PE/IB forums for recruiting at portcos are Green Key, Oxbridge, Amity, and CarterPierce. I picked a 2-3 recruiters that had sent me interesting jobs in the past and 2-3 that looked like they specialized in FP&A/CorpFin/Treas or energy portcos.
Yes, I have spoken to numerous recruiters however I haven't been as diligent about staying in touch as I could be. I've literally never even gotten an interview via a recruiter, so I've been a bit hesitant to spend a lot of time networking with them proactively. Perhaps I'll give that another shot and see where it goes. For what it's worth, the best recruiters for CorpDev as far as I can tell are Charles Aris and Selby Jennings.
There’s no way - I thought the best recruiters for corpdev are probably the same ones that are the top ones for pe recruiting, they often send or include corpdev opps in emails
I'm in a similar boat as you, OP. Unfortunately, I've found CorpDev roles hard to come by and employers often don't know what they want and are looking for. It's more of a long-term strategic role than a day-to-day critical need and so processes move very slow. Luckily for you having some industry specialization (especially in healthcare, where I've seen the most CD openings) is a big advantage to get shortlisted. Sounds like you're doing all the right things, though I think the Florida address might give some folks a pause. Best of luck.
I would definitely reach out to a few recruiters. Once you start getting to Director/VP level, it's harder to get roles through LinkedIn - most people seem to want referrals within their network. With 9 years of experience, I'd think you should be focused on Director (or higher) roles, especially if the companies you're talking to aren't extremely large public companies.
Agree that at private companies, I'm typically best suited to a Director title, perhaps VP at a very small company. I've had no success landing interviews for VP roles, likely because many applicants at that level have 12-15+ year of experience. I'm still pursuing Sr. Mgr. titles because perhaps I could negotiate a bump to Director if it's a good fit. Also, Sr. Mgr. CorpDev roles at large public companies have the potential to pay as well as Director+ at small PE portcos.
Agree on recruiters being a good (potentially the best) route.
Applying via LinkedIn doesn't hurt, especially if you're doing the easy apply apps, and maybe just banging out a couple of the annoying long-form ones each day.
As you know M&A is tough right now. Have you considered other related types of roles like FP&A, strategy?
I've interviewed for M&A integration roles, but haven't had any luck yet. They typically want someone who's more of a Program/Project Manager for those roles. Pure stategy roles are typically filled by ex-consultants.
I honestly wouldn't mind a FP&A role since that could get me on a future CFO track, but I'm skeptical of my ability to land interviews for those roles since they typically are looking for someone with multiple years of FP&A experience. Perhaps something for me to explore... I imagine that if I got referred to a CFO of a company looking for a Director level FP&A/Strategic Finance role, then I'd probably have a shot.
I’m with you — I’m a senior level IB guy that wants out many yesterdays ago.
I feel like Covid then what followed really screwed up things in the job market as weird as that sounds.
I am in a similar situation, was laid off at the start of the year and still working on landing an offer. I have 5-6 years of experience all at PE-backed healthcare services rollups with over 150 closed acquisitions.
As far as I can tell the current M&A job market is fucked. Every publicly posted job receives over 100 applicants within the first 24 hours. I applied for a Director level healthcare rollup and spoke with the recruiter. They basically told me they were shocked at how many applicants they received and that they had a lot of former VP, Sr. Dir, and Director level candidates applying.
Current/Past Interview Experiences:
Sorry to hear about your job search struggles so far. I finally landed a new role as a Director of a PE-backed healthcare software platform, but it took nearly 8 months.
Just keep doing what you're doing and it'll happen. I think that having a ton of healthcare services experience will serve you well. I think there are a lot more roll ups out there on the services side. Also, don't be afraid to apply for Director+ level roles - particularly at smaller platforms. I was able to get some interest at the VP level at some smaller companies. Based on your experience, you probably are genuinely overqualified for anything below the Sr. Manager level.
Repellendus unde tempora vel molestiae. Est placeat non enim esse odit aut. Adipisci perspiciatis aliquid nostrum repellat aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...