Switching from buy-side equity research at a mutual fund group to corp dev. Would love to hear thoughts from those in corp dev.
I've been in equity research for 3 years at a $3B mutual fund group. The proliferation of algorithmic trading, ETFs, and other passive vehicles caused a significant amount of redemptions at the firm I was with (to the tune of $800MM in just the past 9 months). I was laid off several months ago as the youngest person in research by 8 years at a family owned firm. I tried looking for other buy-side positions for several months but ultimately decided I didn't see myself continuing my career in equity research for several reasons.
I do think there will always be a place for active management but I see too many intelligent kids for too few positions. I want to exit to a corporate development associate role. I believe I could really flourish in the role but would love to hear your thoughts.
I am a very fundamental analyst who does a lot of deep dive research. I am a generalist but am very knowledgeable in niche markets of IT hardware, internet content, and leisure. I have met with 100s of management teams in my brief tenure and have sell-side analysts calling me for my notes all the time because of knowledge on a few stocks/industries. I'm also a CFA level II candidate (not that that means much). What I don't have is direct deal experience. I've only really analyzed M&A activity from an external perspective.
Do I have a chance of breaking into corp dev? I can really see myself making a nice career in corp dev as opposed to constantly being worried about my job and fighting tooth and nail on the buy-side. I'd love to hear from others who have made this switch.
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