Exit opps from corporate strategy & development
Considering an corp strategy and development opportunity at a F100 insurance company (TIAA). Is this a good role and could I pivot from corp strategy and dev to IB or T2 strategy consulting?
Thanks!
I mean sure? Corp Dev / Strat are the exit opportunities for IB/Consulting, not the other way around. Not to say I don't see it happen, but why not just directly go for IB/Consulting? Requires basically the same skill set.
I don't have a ib or consulting offer because I was too late to the recruiting game but would like to pursue ib or strategy consulting so wanted to see if I could use this experience to pivot to ib / consulting.
How difficult do you think this transition would be?
Thanks for you reply btw
As someone who is coming out of his 4th year in Corp Dev I had an MM IB offer during Covid (Analyst in Boston) and LMM offer this year (Assoc. in T2 city), so it is definitely possible. I wont lie, both of them were FIG which isn't very exciting but if you want to get into IB it is important to find a role that is at least somewhat acquisitive (5-6 deals looked at a year) and get a couple closed deals under your belt.
Its not an easy transition but it is certainly possible. I guess my question to you is why IB/Consulting? Is it just for the money, the prestige, the other exit ops? That determines what first step is best.
Honestly not difficult at all. These require similar skill sets. If you want to go for consulting over IB, or I'd focus on developing the strat skill set over the dev skill set (or vice versa). MBB is absolutely not out of the picture, and IB is extremely doable imo
Thanks so much for your reply! Do you think that TIAA is a reputable name or good brand / company to do corp strategy and development at?
Like most college students, im a bit reluctant to work for an insurance Co given the bad perceptions around stuff like Northwestern Mutual and whatnot
It's fine, honestly. Even doing Corporate Strategy and Development for NWM isn't a bad gig (despite its reputation for being awful on the sales side).
If you step away from WSO for just one second, you'll realize that places like TIAA or NWM aren't bad places to be (at least in Corp Strat/Dev - also TIAA has stuff like Nuveen, which could idk, be interesting?). It's easy enough to see where folks have ended up with a simple LinkedIn search. Also, when you apply for your second gig, it's probably less about the firm that you were at, and more about you bring to the table individually. Wouldn't get so hung up about this tbh.
100%. Was in Corp Dev now in IB. When I was in corp dev we had regular conversations with bankers and worked on files together. Build a rapport > reach out to them for coffee. Best of luck
If you are early in your career, it is very doable, especially if your company is acquisitive and you have the opportunity to work on/evaluate multiple transactions during your time there.
The lateral market for IB and Consulting is relatively shut at the moment, due to economic uncertainty (goes without saying), but that should hopefully not be an issue by the time you are 2-3 years into your career and looking to make a pivot.
Alternatively, if you kill it at your role for a few years and had pretty solid grades in undergrad, you could explore going to a top MBA program full-time and pivot into IB or MBB/T2 consulting.
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