So this is something that has been on my mind for a few weeks after networking with a few alumni in Corporate Development who lateraled after working in IB for a couple of years.
I am an incoming MSF Candidate at the #1 or #2 program in the US, and I am going in to the program this fall with two regional boutique IB positions, and having founds leads that will hopefully place me in to middle market tech IB after graduating from the program.
Picking up the skills in IB- modeling, creating presentations and decks, and generally picking up on soft skills by sitting through many deals, etc... is very appealing to me from a personal growth perspective, but I know that in a few years time I would like to pivot into a more sustainable career from a personal perspective.
Having spoken to alumni now in Corp Dev, it seems at its core to be similar to IB- the M&A process is central, however work/life is much better, and you get to really focus on the strategy of your company versus mostly acting as an advisor to other companies where you might not get to see your work actually materialize that often.
I know team sizes are smaller, and also deal flow is typically slower depending on how acquisitive your company is (one deal every few years, or a few deals every year). Also, it seems that you start as an associate in corp dev, they don't exactly have junior analysts.
Do you think networking with associates and VPs in strategy & corp dev from before I am even in a full time banking role is a viable path to make the transition down the road? Anything else I can do to get my foot in the door ahead of time?
Thanks!
Corp Dev'er here, I think networking with Corp Dev folks prior to joining your bank is totally fine. I would speak to them to understand a little more about what they do and how they do it, how they transitioned from banking to CD, what were the biggest adjustments to that change etc. If nothing else it will serve as a connection when you are in banking and have a deal they might be interested in. In terms of the difference between Corp Dev and Banking that you mentioned in your post, it is dead on. Better WLB, fewer deals, and a more strategic focus. Happy to answer any questions you have on CD.
Really appreciate your insight, it is super helpful. A couple of questions:
- What was the interview process like? I imagine it's much more focused on the company specifics, business strategy, acquisition history, etc...
- I'd imagine IB / PE --> Corp Dev is manageable but going back to PE from CD is very difficult? Is this true? What do you plan on doing long term?
- Is there a chance to climb the corporate latter past the M&A function and into corp fin / executive roles down the road?
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