HF to Corp Dev?
Has anyone made the jump from HF (credit/special sits) to corp dev? Don't see myself working at a HF in the long run. Fine with taking a paycut but think I'd like working in a corp dev seat at an highly acquisitive company. Has anyone made such a jump? Don't have an IB background as I joined my fund right out of school.
Thinking of doing an MBA to make the switch but does anyone have any advice on making the switch without an MBA? Finding it hard to get any ops because of the no IB background.
Based on the most helpful WSO content, transitioning from HF (Hedge Fund) to Corporate Development without an IB (Investment Banking) background is indeed challenging but not impossible. Many individuals consider an MBA as a bridge to facilitate such a transition, especially when coming from a non-traditional background for Corp Dev roles. Here are some insights and advice based on the experiences shared:
Leverage Your Network: Start by leveraging your existing network. Reach out to contacts within the industry or any acquaintances working in corporate development. Networking can open doors and provide insights that are not available through traditional job applications.
Highlight Relevant Experience: Focus on highlighting the relevant experience you've gained in credit/special situations at your HF role. Skills such as financial modeling, deal evaluation, and due diligence are highly transferable and valued in corporate development.
Consider an MBA: While you're exploring options without pursuing an MBA, it's worth noting that an MBA from a top program can significantly enhance your profile for corporate development roles. It provides a structured way to gain the necessary finance background, network with industry professionals, and pivot your career.
Target Companies Strategically: Look for companies that are known for being highly acquisitive and might value the unique perspective you bring from the HF world. Smaller or mid-sized companies might be more open to candidates with non-traditional backgrounds.
Utilize Recruiters: Some recruiters specialize in finance roles and might be able to assist in making the transition. They can also provide valuable feedback on your resume and how to best position yourself for corporate development roles.
Gain Additional Credentials: If an MBA is not in your immediate plans, consider other ways to bolster your credentials, such as obtaining the CFA or taking courses related to corporate finance and M&A.
Showcase Your Adaptability: Emphasize your ability to adapt and learn quickly. Your path from HF to potentially corporate development is not the most traditional, so demonstrating your ability to navigate and succeed in different environments can be a strong selling point.
Remember, while the path may not be straightforward, persistence and strategic networking can play a crucial role in making such a transition successful.
Sources: Q&A: Corp Dev (F500) with a non-traditional background and b school, Corporate Strategy vs Corporate Development, https://www.wallstreetoasis.com/forum/corporate/breaking-into-corporate-development-from-non-traditional-backgrounds?customgpt=1, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, Exiting from Corporate Development
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