Ask me anything
Previous:
Non-target, state school MACC CPA 1 year of audit at national firm 1.5 years of valuation, financial modeling, and QofE (TAS) Passed Level 1 CFA
Current:
F500 CorpDev analyst
Ask me about:
transitioning from audit to consulting to m&a. CPA vs CFA
What to learn:
How to break into PE or VC
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WSO Podcast:
Member @Medtechmonkey shares how he broke into an exciting high growth M&A corp dev position at a Fortune 500 company coming from an accounting background at a non-target university. How much he's getting paid now and a key piece of advice to our listeners...
thank you for doing this, so are you trying to break into VC? I know there is no distinct path to VC, but you think that CorpDev creates a valuable/ transferable skill set for VC?
I think it depends on the experience and your industry. I've heard of people that were in my position doing it, but it was not many.
Comp?
Base, bonus (target %?) and other, if any?
Comp is $70K base. Cost of living is cheap where I live (smaller city in the Midwest) Plug into a cost of living calculator to see what that would be in your city.
Bonus is 10%-20% based on individual and company performance.
Other comp - great 401(k), stock purchasing, and other benefits.
Is 70k for entry level or for your current position of Sr. Analyst? How involved is your work? As in do you get to build models and have your own inputs? Do you work with bankers?
$70K for a senior analyst is quite low even for a low cost of living city IMO. Most entry level CorpDev start at $65-70K.
What’s your future goals and what do you plan to do to achieve them?
I have not fully decided yet. I want to rise up the ranks in CorpDev or pivot into PE or VC after a couple of years and some deals closed. I plan on achieving them by networking and developing industry-specific knowledge.
Has there been people from your team that has made the jump?
Hey thanks for doing this since I wanted to do a similar route (switch into TS, and then jump into corp dev):
When you made the switch into TS, what was the interview process like (technical, behavioural, case-based). Any recommendations to prepare for the interview (i.e. reading up on, research etc)
What kind of mandates were you placed on in TS and what you personally felt was beneficial when you made the switch to corp dev.
Most interesting mandate that you've been on in terms of analysis, client industry, issue etc.?
Thanks - appreciate it
It was an internal switch (same firm) so it was pretty simple and informal (national firm and no formal structure for department transfers). I internally networked and met with associates, managers, and partners. I first met with associates to figure out the type of work they did and researched more (valuation methodologies, common multiples, how EBITDA is used, etc...). I would take what I researched and loop it into conversation with managers and partners so they could see I knew more than just auditing and the transition would be smoother. You want to show that you're dedicated, knowledgeable, and could make an more of an impact than an external hire or another internal transfer early on. Be proactive and start networking early.
I worked a lot on valuation, financial modeling, and QofE. My CorpDev interviews cared more about my modeling experience.
Healthcare has always interested me and industrials (manufacturing and distribution).
Did you complete CPA before passing CFA Level 1? How much help did passing Level 1 give you when looking for quality jobs? Thanks for doing this!
I passed the CPA before working full time and took Level 1 of the CFA the subsequent summer. My knowledge from the CPA helped a lot for Level 1, but there was still a lot of material to get through that the CPA doesn’t touch. I do feel like having passed Level 1 helped me break away from being labeled as just an accountant.
For those wondering, I am not currently pursuing the CFA Charterholder because it doesn’t line up with my career long term. Instead of studying, I’ve been reading books on business stories, leadership, market research, and networking.
Thanks for doing this, as a recent MACC graduate progressing through the CPA exam, who will be starting in TAS, I'm interested in potentially following a similar career path. A couple questions if I'm not too late to the party:
Could you touch more on how you went about networking your way from TAS to CorpDev? I'm specifically interested in hearing how difficult/ natural was the process was and any other challenges you faced in regards to overcoming the "accountant label", aside from passing CFA level 1.
What was your experience like in TAS in terms of work/ life and how does that compare to your current role.
Thanks again!
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